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Contracts specifications

MetaTrader 5

Parameters

Data

Symbol

NZD/CAD

Symbol represents the stock ticker that is basically a report of certain financial entities in the trading platform — it is updated continuously throughout the trading session.

Spreads in Pips

Floating from 0.5 pips

Typical Spread — it represents the regular value of a floating spread during a typical market enviroment. In the case of cash indices—the regular value of a spread during the trading hours of a stock index). Spread is measured in pips.

The term “Pip” is used for Forex instruments quoted to the fifth place after the decimal point (e.g. AUDJPY – 1.08052). One pip equals a price increment of exactly 0.00010.

For instruments quoted to the third place after the decimal point (e.g. AUDUSD – 115.521), one pip equals a price increment of precisely 0.010.
In the case of spot metals, one pip equals a price increment of exactly 0.01.
For cryptocurrencies and indices, one pip equals to a price increment of precisely 1.0.
In the case of other instruments, one pip equals a Tick Size.

Commission

8$/lot

Commission represents the total fee for changing the state of a position (opening or closing it).

Leverage

up to 20

Leverage is, essentially, an account boost for the trader’s capital, allowing him to open a higher position (e.g. leverage 1:100 means that a $10,000 contract needs only a $100 margin).

If you are an experienced trader, you understand that using the New Zealand Dollar and the Canadian Dollar currency is most beneficial. Both currencies represent two of the powerful economies in the globe. The NZD/CAD duo computes the level of success determined by New Zealand and Canada economy.

When considering this duo, it is important to note that the New Zealand Dollar is the base currency which makes it most appropriate to distinguish the advance. The Canadian currency (Canadian Dollar) influences the NZD/CAD duo differently.

If you are interested in trading the NZD/CAD currency pair, contact FxPro today and open trading account in several minutes to test your trading strategy.