Forex is what we do best at Mt.Cook!

Our traders enjoy access to the world's largest, and most liquid market, with unrivaled pricing, support, and safety.
Trade 24 Hours

The FX Markets are open 24/5, so traders from anywhere and anytime zone can always find a trend to ride somewhere in the fx markets.

Short Selling

Currency trading allows you to trade one currency against another, and to speculate on both rising (going long) and falling markets (going short).

Utilize Leverage

Traders can control positions much larger than their deposit by the smart usage of leverage. Mt.Cook offers up to 500:1 leverage.

Take advantage of some of the best pricing in the industry!

Our ultra tight spreads start at 0 pips (yes for real), and we specialize in unrivaled discount pricing on minors, and exotic currency pairs.

What is Forex?

For those new to Forex trading, the Foreign Exchange market (also called 'Forex' or simply 'FX') is a global online network where traders, speculators, and many different businesses, industries and financial service providers buy and sell different currencies. The Forex market itself is massive, and has an estimated turnover of $6.7 trillion per day. This makes it the largest and most liquid financial market in the world. By comparison, the New York Stock Exchange (NYSE) has a trading volume of approximately $23 billion per day. The FX markets are what determine the exchange rates for currencies and these are always fluctuating. These fluctuations are what ultimately cause the many unique trading opportunities for speculators to profit from.

Where does it happen?

The Forex markets are unique to many others in that they have no physical location or centralized exchange. Rather, they are decentralized in nature, and operate through a network of Global FX Banks which is referred to as an Interbank Market. This market operates 24 hours a day from 5 p.m. EST on Sunday until 5 p.m. EST on Friday. The biggest geographic OTC trading hubs for FX are the United Kingdom and the USA. Basically London dominates the FX markets, with New York a close second, while Tokyo and Sydney are the big trading hubs during the Asian trading session.

Why Trade Forex at Mt.Cook?

Trading the Forex Markets at Mt.Cook is a world-class trading experience, deepened by the use of cutting-edge technology, innovative tool sets, flexible trading conditions, deep liquidity, rapid trade execution, best in class friendly client support, all bundled within a safe and regulated fair trading environment.

ECN Forex Specifications

Click below to find a full listing of our ECN Forex trading specifications.

DMA Forex Specifications

Click below to find a full listing of our DMA Forex trading specifications.

Questions About Forex Trading?

We got you covered!

1. I am new to trading Forex. Where can I learn more about it?

While there are many forex trading venues and courses (both online and in person, free and paid etc…), one of the best places in our opinion to start at is the “Baby Pips” free School of Pipsology course found here: https://www.babypips.com/learn/forex.

When starting out, you may find many people trying to sell expensive education programs or courses with “the winning formula”, however we believe that this free course above is a great introduction and a good way to get your feet wet in the world of FX trading. Many of our team members first started with this course as well.

The key when starting out is to absorb as much information as possible, practice, focus on risk management, and refine a strategy over time that works for you. We strongly recommend starting out demo trading at first, and taking a slow, steady, disciplined approach to trading in any financial market.

2. How does Forex Trading Actually Work?

To trade Forex, you trade currency as a “currency pair” (i.e., EUR/USD) which involves the buying or selling of one currency (a base currency), priced in another (a quote currency). When you trade Forex you are trading the currencies as Derivatives or Contracts For Difference (CFDs). This means you can effectively trade price movements in an underlying asset such as most global currencies without needing to physically hold the currency you are buying or selling. Our online platforms make the process of buying and selling currencies very intuitive to traders.

3. Which platforms can I trade Forex on at Mt.Cook?

Currently we offer the Metrader4 platform for both manual and algo traders, and FIX API to our algo traders. We also offer multiple social trading platform integrations.

4. What is the maximum leverage I can trade with here?

Our default leverage offering is 100:1. However we can conditionally grant up to 500:1 to traders based on the style of trading being conducted.

5. What are your commissions for trading Forex?

The real cost of complex and/or hidden fees from many forex brokers can be staggering! Especially when assessed in the context of your ‘bottom line’ and net profit per trade. Please see our pricing page to learn about this, our fees, and to understand why you should always trade with a raw-spread, a-book only, single-fee brokerage.

6. What are your spreads like?

At Mt.Cook everyone receives the same tight (raw spread), institutional trading conditions. The main differences between our ECN account types, and DMA accounts are the tiered, transparent, transactional fees which are ALWAYS quoted outside of our spreads. Our business model is volume based, and simply put we never want to profit from unearned fees, marked up spreads, or confusion.

That said, our spreads are some of the tightest in the entire industry since we are one of the few brokers who do not mark them up. Giving an “average spread” in our opinion is a bit silly because our spreads are variable, and liquidity is dynamic (always changing). The best way to get a feel for our spreads is to open a demo account and view our spreads live in real time, across multiple trading sessions.

7. Is there a maximum trade size for Forex trading?

On our forex pairs, the maximum lot size per click/trade, is 1000 standard lots.

8. What is the minimum trade size for Forex Trading?

The minimum trade size on our Forex pairs is 0.01 lots per click/trade.

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