How do I connect to the platforms?

You connect directly to each ECN you want to trade on. We liaise with the platforms of your choice to set up either GUI or API accounts. If you want to connect by FIX API, it may be required to go through FIX conformance testing directly with the platforms. If you wish to cross-connect you need to deal directly with the ECN. We can put you in touch.

Which platforms can I trade on ?

BAXTER-FX Clearing currently offers Currenex, Hotspot and FxAll. We are always looking to add more platforms and to give our clients what they need. Please ask if we provide a platform of your interest.

How do margins work ?

We take the real time equity value of your account - the cash balance and any realised and unrealised P/Ls - and divide that by the total position value. This is expressed as a percentage. So a 2% margin level is the same as 50:1 gearing. We set up 3 levels of margins on each account: initial, call and close: Initial where you must have sufficient funds to open the position Call where you must either send additional funds or reduce the exposure, and Close where either you or us will close the position out.

What gearing can I have?

Traditionally, we set the margin levels at 3%, 2% and 1% for initial, call and close respectively but we are always happy to talk about margin rates if your trading risk is low. It depends on your type of trading, and the risk that you run. Do you run positions overnight, or over the weekend? etc.

What Currency can I open my account in?

Currently you could make a deposit in USD, EUR, GBP or AUD.

What reporting style is my account run ?

We have two account styles: TREASURY STYLE and FUTURES STYLE.

What’s the difference between Spot and Forward ?

Spot is an agreement between two parties to buy one currency against selling another currency at an agreed price for settlement on the spot date (The standard settlement timeframe for foreign exchange spot transactions is T + 2 days, with the exception of USD/CAD pair which settles at T+1)

Forward are to prevent that the trades goes into settlement. A currency swap involves exchanging principal and fixed rate interest payments on a loan in one currency for principal and fixed rate interest payments on an equal loan in another currency.

How do I open the Clearing Account with BAXTER-FX?

Please register on the website and fill in Client Due Diligence application form online, that tells us a little bit about who you are - or your company is. You will need to supply us with some proof of your ID and address - or the make up of your company. You need to sign a Prime Brokerage Agreement. You can start the process by clicking the button below, giving us your name and email address, and we will be in touch.

How does BAXTER-FX define a Retail Client ?

Any Clients not falling within the professional client criteria are, by default, Retail Clients. A Retail Client is a client who does not possess the required experience, knowledge and expertise to make its own investment decisions and properly assess the risks that it incurs.
Please click here for further details

How does BAXTER-FX define a Professional Client ?

A Professional Client is a client who possesses the experience, knowledge and expertise to make its own investment decisions and properly assess the risks that it incurs.
Please click here for further details.