Two currency perpetuals · 24/7
Forex Trading Without a Broker: EURUSD and USDJPY
On EVEDEX forex means exactly two perpetual contracts, EURUSD and USDJPY, margined in USDT and open every day of the week, with the maker fee capped at 0.015%.
Currency perpetuals at a glance
Contract terms for both pairs as of September 15, 2026. New to the market? Start with what is forex trading and forex trading for beginners.
A currency perpetual next to two forex brokers
What you actually trade, how many pairs there are and when the market is open. See also gold trading, our crypto futures trading platform and is forex trading profitable.
| Venue | What you trade | Pairs | Hours | Drawbacks |
|---|---|---|---|---|
| EVEDEX | EURUSD and USDJPY perpetuals | 2 | 24/7, weekends included | Two pairs only; no MT4 or MT5, no fiat withdrawal |
| IG | Forex CFDs | 90+ | Weekday sessions | 70% of retail accounts lose money; cost sits in spread |
| IC Markets | Forex CFDs on MT4, MT5 and cTrader | 61+ | Weekday sessions | Leverage up to 1:5000; losses may exceed the deposit |
Broker pages checked September 21, 2026: IG, IC Markets. EVEDEX contract terms as of September 15, 2026.
What changes when forex becomes a perpetual
The mechanics of a crypto perpetual, applied to two currency pairs and settled in USDT.
USDT from start to finish
Margin, profit and loss on both pairs are denominated in USDT, so no euro or yen account is needed and no bank sits in the middle. Cross margin is the only mode.
Funding, not overnight financing
Brokers charge overnight financing on held positions. EVEDEX calculates funding every 8 hours per pair and charges it hourly at one eighth of the rate, passing it between longs and shorts, weekends included.
Leverage in stated tiers
Both pairs reach 75x on positions up to $30,000 of notional, then 50x up to $153,000 and 20x up to $300,000. The cap falls as the position grows, not the other way round.
Not a broker platform
There is no MT4, MT5 or cTrader, no lots, no exotic pairs and no fiat withdrawal. If any of those is the requirement, a traditional forex broker is the right tool, not EVEDEX.
Open a EURUSD position in three steps
Connect, size and trade, with USDT as the only currency involved.
Deposit USDT
Sign in with a wallet, email or social account and deposit from 6 USDT. There is no traditional KYC; deposits pass automated AML screening with Chainalysis.
Size the position
EURUSD quantity moves in steps of 0.1 EUR and the price in steps of 0.0001. Margin is notional divided by leverage: a $1,150 position at 10x reserves 115 USDT.
Choose the order type
A limit order resting in the book pays the maker fee of 0.015%, a market order the taker fee of 0.045%. On that $1,150 position the taker fee is about $0.52.
Where EVEDEX trails on currency pairs
Two pairs and a young book are the honest cost of trading forex on a perpetual venue.
CoinGecko recorded $2.46M of open interest on EVEDEX EUR-USD on September 15, 2026, with a 0.1% spread and $0.63M of 24-hour volume, and $1.58M on USDJPY-USD at a 0.11% spread. On the same snapshot Hyperliquid's EUR perpetual held $18.7M at a 0.02% spread and its JPY perpetual $21.5M at 0.01%, while Extended showed $6.0M. Depth and spread therefore favour the larger venues; what EVEDEX offers instead is USDT margin alongside 50 other markets in one cross-margin account, and a book that does not close on Friday evening.
Forex trading questions, answered
Forex trading is taking a position on the exchange rate between two currencies, so that a long EURUSD gains when the euro strengthens against the dollar. On EVEDEX that position is a perpetual futures contract, not an exchange of currency, and it settles in USDT.
On EVEDEX there is no brokerage account and no fiat funding: you deposit USDT, post margin and trade EURUSD or USDJPY as perpetual contracts. There is also no MT4 or MT5, no lot sizing and no way to withdraw to a bank, so it replaces a broker only partly.
Exactly two: EURUSD and USDJPY. Both are perpetual contracts inside the 52 listed pairs, alongside 39 crypto pairs, five stocks, Tether Gold, silver, WTI oil, the SPY index and two pre-market contracts. Brokers list far more, with 90+ pairs at IG and 61+ at IC Markets.
On EVEDEX yes: both currency perpetuals trade 24/7, including Saturdays and Sundays, and funding keeps settling over the weekend. The currency market at a broker closes for the weekend, which is the main practical difference between the two routes for a short-term trader.
Up to 75x on positions worth up to $30,000 of notional, then 50x up to $153,000 and 20x up to $300,000. USDJPY follows the same ladder. Higher leverage narrows the distance to liquidation, so a fraction of a percent can be enough to close the position.
A CFD is a rolling contract on broker quotes, carrying overnight financing and margined in the account currency. A perpetual has no expiry either, but it is margined in USDT on an order book and uses funding instead, calculated every 8 hours and charged hourly.
There is no traditional KYC. You sign in with a wallet, email or social account, and deposits pass automated AML screening with Chainalysis before they are credited. External fiat partners may still ask for verification, and the exchange is not intended for UK retail clients.
The minimum deposit is 6 USDT and the minimum order value is 5 USDT on either pair, with EURUSD quantity moving in steps of 0.1 EUR. Trading fees are capped at 0.015% maker and 0.045% taker, and cashback of up to 35% lowers them further.
