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Trading Questions

Do we accept US clients?
How does SHKFX provide price quotes?
Real-time streaming quotes are provided by the largest liquidity providers in the forex market. Quotes are updated in real-time as the market changes.
What leverage does SHKFX offer?
We offer maximum 1:20 leveraged trading.
What is the minimum account opening amount?
US$5,000 or its equivalent.
What is the settlement currency?
US Dollar.
What are the trading hours?
From market open Monday morning (5am Summer time/6am winter time) to market close
Saturday morning (5am Summer time/6am winter time).
What are SHKFX's fees and commissions?
Under what circumstances might my positions be closed out?

You will receive a margin call when your open position falls below 3% of the gross principal value of the contract. If you do not return your portfolio to the required margin level – 3% of the contract value – SHKFX, without further notice, will auto liquidate your position if the margin falls to 1%.

E.g.: You sell 100,000 EUR at the rate 1.3000, 1 pips = USD10

5% initial margin = USD130,000 x 5% = USD6,500

3% margin call = USD130,000 x 3% = USD3,900, that means when your balance drops below to USD3,900, you will receive a margin call by email. At that time, the price has gone from 1.3000 to 1.3260.

USD6,500-USD3,900 = USD2,600
USD2,600/ USD10 = 260pips
1.3000 + 0.0260 = 1.3260

We will request you to deposit money into your trading account. Otherwise, once your margin level drops to 1%, we will liquidate your position.

1% close out position = USD130,000 x 1% = USD1300, that means when your balance drops below to USD1300, we will close out your position automatically. At that time, the price has gone from 1.3000 to 1.3520

USD6500 – USD1300 = USD5200
USD5200 / USD10 = 520 pips
1.3000 + 0.0520 = 1.3520

The above examples are for illustrative purposes only. SHKFX expressly reserves its full range of rights and powers under its Client Agreement and Schedules to close out positions. For more details, please refer to the latest version of its Client Agreement and Schedules.

Will I receive a margin call?
Yes, you will receive a margin call when appropriate, via email.
How can I manage risk when trading currencies?
The short answer is 'limit orders' and 'stop loss orders'. A limit order places restrictions on the maximum price to be paid or the minimum price to be received. A stop loss order sets a particular position to be automatically liquidated at a predetermined price. Both limit potential losses. However, you should be in mind that placing contingent orders, such as "stop-loss" order will not necessarily avoid loss. Market conditions may make it impossible to execute such orders.
How will liquidation occur on my account if the equity is insufficient?
At any point, if the equity falls below liquidation margin level in your portfolio, the platform will liquidate the position until the equity level is back above the liquidation margin level. Usually, the system will liquidate positions according to the current losses (Open P/L), from highest to lowest.

For FX Trader Pro, positions are shown in net exposure by currency pair i.e. the aggregated position. Therefore, if the overall account equity falls below the liquidation margin level, the currency pair with highest loss will be liquidated first.

For example, if the client has positions in 3 different currency pairs as below:
CCY pair Position Price Quote Open P/L Close P/L P/L
EUR/USD -10,000 1.2100 1.3300 -1200 0 -1200
GBP/USD -20,000 1.3800 1.4500 -1400 0 -1400
AUD/USD 30,000 0.8000 0.7800 -600 0 -600

When equity falls below the liquidation margin level, system will first liquidate the GBP/USD position; if equity level still below liquidation level after GBP/USD liquidated, system will close out EUR/USD, and finally AUD/USD until equity level back to above liquidation margin level.

For MT4, the same logic applies if you have different currency pairs in your portfolio. But as the system shows the position by tickets and will not aggregate or net off the position with the same currency pair, MT4 system will liquidate the ticket with greatest floating losses until your account equity level is back above the liquidation margin level.

For example, if the client has positions in 3 different currency pairs as below:
Ticket No. CCY pair Position Price Quote Open P/L Close P/L P/L
1 EUR/USD -10,000 1.2100 1.3300 -1200 0 -1200
2 GBP/USD -20,000 1.4500 1.3300 -1400 0 -1400
3 EUR/USD 20,000 1.2100 1.3900 -3600 0 -3600

In this case, when equity falls below the liquidation margin level, system will first liquidate ticket no. 3, then ticket no. 2, and finally ticket no.1.

Platform Questions

What kind of orders can I use?
One-cancel-the-other, Stop Order, Limit Order
Will I get re-quote?
No. SHKFX aims to help you to connect to the FX world effectively and fairly. We don't offer re-quote even the market is volatile.

General Questions

How fair is the forex market?
The forex market was, originally, an interbank market but has now become arguably "the fairest market on earth" due to its sheer size, global reach and number of participants. No single player, not even a central bank of a particular country, can effectively control the market direction of a currency for a sustained period.
Where is the central location of the forex market?
The forex market is not controlled by a centralised exchange. It is an Over the Counter (OTC) market as transactions are made via the internet from many different locations 24 hours a day, 5 days a week.
Who are the participants in the forex market?
The forex market was, in the past, dominated by banks. However, the percentage of other market participants is rapidly growing due to the popularity and availability afforded by the internet, and now includes many corporations, dealers, traders and speculators.
When does the forex market open for trading?
The forex market begins trading each day in New Zealand, and moves around the globe, first to Tokyo, then London and New York. Unlike other financial markets, investors can respond to economic, social and political events at the time they occur – day or night. The market is open throughout the working week.
What are the most commonly traded currencies?
Those countries with a significant share of the global economy, stable governments, respected central banks, and low inflation. Over 85% of all daily transactions involve trading in the US dollar, Japanese yen, euro, British pound, Swiss franc, Canadian dollar and Australian dollar.
Why do currency prices change?
Currency prices (exchange rates) can be affected by any number of economic and political conditions or factors including interest rates, inflation and political stability. To make things worse, governments sometimes try to influence the value of their currencies. Central bank intervention of this kind, and the response of investors and speculators, can result in high volatility. However, the size and volume of the forex market makes it unlikely that any country or other entity can control influence the market for any sustained period length of time.
What is Common Reporting System (“CRS”)?
The CRS was developed by Organization of Economic Cooperation and Development (“OECD”), where financial institutions in participating jurisdictions are required to review and collect information that will enable them to identify tax residency of financial account holders and to provide relevant information to the local tax administration authorities on an annual basis. The Hong Kong government gazetted the Inland Revenue (Amendment) (No. 3) Ordinance 2016 on June 30, 2016 and CRS will be effective on January 1, 2017 in Hong Kong.

For more information, please refer to the below link which contained pamphlets issued by the Inland Revenue Department of Hong Kong.

Trading Platform User Guide

Note: Only Cantonese version is available.