> For the complete documentation index, see [llms.txt](https://edgex-1.gitbook.io/edgeX-documentation/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://edgex-1.gitbook.io/edgeX-documentation/trading/forex-perpetual-contracts.md).

# Forex Perpetual Contracts

Before you begin trading Forex Perpetual Contracts, please read the following trading rules carefully. These contracts track the price of their underlying forex assets. As the underlying market transi

Before you begin trading Forex Perpetual Contracts, please read the following trading rules carefully. These contracts track the price of their underlying forex assets. As the underlying market transitions between trading sessions, the trading mechanism will be adjusted as follows:

1. **Market Hours and Market Status**

* **24/7 Trading:** The perpetual market is open 24/7; however, prices and volatility are significantly affected by the conditions of the underlying forex market.
* **Forex Market:** Market status is further classified into Underlying Market Hours, Post-Sunday-Open Reduced Liquidity, Daily Rollover Reduced Liquidity, Pre-Friday-Close Reduced Liquidity, and Underlying Market Closed.

<table><thead><tr><th width="130.27734375">FX Contract Market Status</th><th width="541.51171875">Corresponding Time Period</th><th width="107.94921875">Liquidity</th></tr></thead><tbody><tr><td>Underlying Market Closed</td><td>Friday 17:00 to Sunday 17:00 New York time, converted to UTC:<br>• Daylight Saving Time (EDT): Friday 21:00 UTC – Sunday 21:00 UTC<br>• Standard Time (EST): Friday 22:00 UTC – Sunday 22:00 UTC</td><td>Low</td></tr><tr><td>Pre-Friday-Close Reduced Liquidity</td><td>Friday 16:00 to 17:00 New York time, converted to UTC:<br>• Daylight Saving Time (EDT): Friday 20:00 – 21:00 UTC<br>• Standard Time (EST): Friday 21:00 – 22:00 UTC</td><td>Medium</td></tr><tr><td>Daily Rollover Reduced Liquidity</td><td>Monday to Thursday 17:00 to 18:00 New York time, converted to UTC:<br>• Daylight Saving Time (EDT): Monday–Thursday 21:00 – 22:00 UTC<br>• Standard Time (EST): Monday–Thursday 22:00 – 23:00 UTC</td><td>Medium</td></tr><tr><td>Post-Sunday-Open Reduced Liquidity</td><td>Sunday 17:00 to 18:00 New York time, converted to UTC:<br>• Daylight Saving Time (EDT): Sunday 21:00 – 22:00 UTC<br>• Standard Time (EST): Sunday 22:00 – 23:00 UTC</td><td>Medium</td></tr><tr><td>Underlying Market Hours</td><td>All times outside the periods listed above</td><td>High</td></tr></tbody></table>

**Note:** During certain public holidays that fall within Underlying Market Hours, liquidity will be downgraded from High to Medium.

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2. **Trading Rules by Liquidity Level**

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**High**

FX contracts trade normally in accordance with the contract specifications.

\
**Medium**

Risk limits for all tiers are reduced by 50%

Market Order Price Cap/Floor Ratio: 0.5%

Limit Order Price Cap/Floor Ratio: 0.5%

\
**Low**

Only Reduce-Only orders are permitted.&#x20;

Reduce-Only Market Order Price Cap/Floor Ratio: 0.5%

Reduce-Only Limit Order Price Cap/Floor Ratio: 0.5%

3. **Risk Disclosure**

* **Order Execution Risk:** Orders placed or triggered during weekends or public holidays may be rejected if they do not meet the criteria set out above.
* **Price Deviation Risk:** During market status transitions or periods of extreme volatility, the contract price may temporarily deviate from the underlying spot price.
* **Liquidation Risk:** If your margin is insufficient, your position may be subject to forced liquidation.