For FX spot and FX forwards the trade tiles in Galt & Taggart's trading platforms are colour-coded red (to sell) and blue (to buy) for all instruments where:

• Prices are realtime
• Market is open

Instruments are colour-coded grey where prices are not realtime, or the market is not open. Non-tradable instruments will have flat non-clickable tiles.

Galt & Taggart provides access to a broad range of liquidity sourced from the largest financial institutions in the world.

A price is associated with an amount (liquidity). Galt & Taggart receives a Bid amount associated with a Bid price and an Ask amount associated with an Ask price. Different prices are provided for different amounts, known as price bands, and these bands vary depending on the currency pair. Spread is tightest in the smallest band.

At Galt & Taggart, FX spot trades do not settle. Instead, open positions held at the end of a trading day (17.00 Eastern Standard Time) are rolled forward to the next available business day. The rollover is made up of two components; the tom/next swap points (Forward Price) and the financing of unrealised profit/loss (Financing Interest). Read more about Financing.

There is a minimum commission (transaction fee) of 5 USD charged for the service of carrying out a transaction on small notional trade sizes.

Trades cannot be executed below the minimum trade size. You can see instrument minimum trade size in the instrument's Trading Conditions.

Where the instrument currency is different to the account currency, currency conversions of trading costs as well as profit/loss from trading activities are executed using the FX Spot mid-price at the time of closing the position, plus/minus 0.5%.

Galt & Taggart is open for trading 24 hours a day, 5 days a week, opening on a Monday morning in Australia (05.04 Local Sydney Time) and closing on a Friday evening (16.59 Eastern Standard Time). However, some currencies have special trading hours as shown in the table below:

* In instances where no liquidity can be sourced in the market, these trading hours may be further reduced on a day-to-day basis.

** Special dates and times for FX Metals apply on U.S. national holidays to reflect the trading hours of the underlying futures market.

Please note, FX spot, forward and option prices stop streaming from 1 minute before the end of the trading day (17:00 Eastern Standard time) and remain non-tradeable (grey pricing) for 5 minutes. This is normal behavior. Galt & Taggart wants you to recognise that liquidity can be thin during this brief interval and encourage you not to trade at this time. 

Galt & Taggart FX Metals Trading hours follow the CME Group holiday calendar which is available on the CME Group public website.

When netting open FX positions Galt & Taggart uses FIFO (First-In-First-Out) rules, which means that the first position that you open is the first position to be closed. This is provided that the positions are on the same account and that none of the positons have related orders attached.

Example: You are trading EURUSD and have opened the following positions:

The first long position 1) will net out with the first short position 3), the second long position 2) will net out with half of the second short position 4), leaving only one short position of 1M EURUSD at the end of the trading day.

The NOP Value (Net Open Position Value) is the sum of all single currency exposures converted into the base currency of the account.

If the NOP value exceeds the NOP limit, you will only be able to place orders that close positions or reduce the NOP value. The breakdown of single currency exposures and the NOP value is displayed in the Galt & Taggart platforms in the ‘Account Exposure’.

When the value date of an open forward outright position equals the current spot value date, it will be treated as a normal spot positon. From that point on, positions held at the end of a trading day (17.00 Eastern Standard Time) are rolled forward to the next available business day. Read more about Financing.

Closed forward outright positions are netted out when the value date of the position equals the current spot value date i.e. the position is changing from a forward position to a spot position.

Different spreads are provided for different trade size bands. The spread is tightest in the smallest band. Trade amounts above the largest bands prices will be routed to manual intervention. However typically, only a very small proportion of orders placed with Galt & Taggart require manual intervention.

Gold and Silver
At Galt & Taggart, you can trade Gold and Silver against a range of selected currencies using up to 50 times leverage with low margin requirements starting from 2% of the trade value. With Galt & Taggart, you can:

• Trade Spot Gold & Silver against the US Dollar, Euro, Japanese Yen, Hong Kong Dollar and Australian Dollar on live prices via our award-winning online trading platforms
• Trade Gold and Silver at spot or as an Option, Futures, CFDs, ETFs or ETCs
• Leverage small price movements on the Gold & Silver Exchanges by up to 50 times both long and short

Competitive Spreads
All-inclusive spreads shown are target bid/ask spreads in normal market conditions. Under certain market conditions - such as over the release of key economic figures, during periods of volatile market conditions, and during the sometime illiquid European night time spreads may be wider and auto execution limits may be lowered or disabled. For certain categories of clients, the spreads may in general be wider by up to 2 pips.

The spreads applicable to a client’s account will be displayed in the Galt & Taggart platforms.