IKON is proud to offer Emerging markets non-deliverable forwards (NDFs) on Brazilian Real, Russian Ruble, Indian Rupee and Columbian Peso. IKON is among the first companies to offer NDFs through the Ikon Prodigy platform.
NDF is known as a cash-settled, short-term forward contract on a specified quantity traded and un-exchangeable foreign currency. Profit and loss can be understood by comparing the difference between the agreed upon exchange rate and the fixing rate at the time of settlement, for an agreed upon notional amount of funds. NDFs are prevalent in some countries where forward FX trading has been banned by the government (usually as a means to prevent exchange rate volatility) and the NDF market is an over the counter market.
One of the major components of NDF is the fixing date, which is the date to calculate the difference between the agreed upon exchange rate and the prevailing fix rate. Another major component is the settlement date which is the date to receive the payment of the difference for the parties. Depending on the currencies dealt, the fixing date is one or two good business days before the settlement date.
Generally, NDF’s priced for the time range of 2 business days up to one year. It`s one of the most useful way to hedge the foreign exchange trade risks for the currencies that are not internationally convertible.
Our trading hours are from 5 p.m. EST Sunday, until 5 p.m. EST Friday with no exception other than the official holidays when local markets are closed.
xMinimum deposit is $1,000
Maximum Leverage for NDF is 1:25
IKON allows funding via :
- Wire
- Credit Card
- Moneybookers
and withdrawals are done via wire.
We accept USD, AUD, EUR, CHF, CAD and NZD funding.
Please click here for the Funding Page or here for the Withdrawal from backoffice
Prodigy : Prodigy is IKON’s state of the art Foreign Exchange, Metals, NDF and Option trading platform. The Order ticket window gives an excellent user interface for NDF traders.
We offer solutions for money manager accounts such as MAM accounts with various allocation methods and Broker account settings.
There is no transactional commission retail spreads, while institutional spreads are offered with an extra transactional commissions charge.
We offer indicative quotes and RFQ system for all dates within 1 year.
Market Orders : An order to buy or sell immediately at the best available price
IKON offers NDF trading in USDINR, USDRUB, USDBRL and USDCOP.
We accept orders starting from 10,000 notional to 10m on a single ticket.
IKON accepts applications both via hard copy PDFs and online application. You can find all account opening related information under our Account Opening page. Our Account Opening process takes on average 2 business days, after receipt of all documents.
- Live Chat
- Email: info@ifscl.com
- Phone: +64 (9) 304-0381
