Trading Execution Policy
- The Trading Platform supplied by the Company enables trading in foreign exchange rates of different currencies, commodities, CFD’s and any other financial instruments made available by the company ( “Financial Instruments”).
- The Trading Platform displays Indicative Quotes of exchange rates of different financial instruments pairs, based on different financial information systems, as the most updated exchange rates in the international Forex markets. For determining the exchange rates for different time periods, the platform is making mathematical calculations according to known and accepted Forex markets formulas. It is acknowledged by both Parties that due to different calculation methods and other circumstances, different trading platform and/or markets may display different price quotes.
- The Company Trading Services are available during regular Forex Trading hours, Monday-Friday. Transactions are automatically renewed (“rolled over”) every night at 22:00 GMT from the day the Transaction is opened until the Transaction is closed. A Transaction is closed in any of these events:
- The Client closes the Transaction.
- The Transaction meets with stop loss, take profit or other predefined criteria set by the Client or the Company under this Agreement.
- The Transaction expires according to the expiration time set by the Client or the Company under this Agreement.
- The Client does not have sufficient funds in their Trading Account to hold that Transaction open.
- The Company does not provide any assurance that the opportunity for the Clients to trade will be available throughout a 24-hour period.
- Placing Orders: Orders may be submitted to the Company by the Company’s Trading Platform via the internet, or by Email, fax or telephone, unless the Company informs the Client that particular orders can only be given in a particular way. If any order is received by the Company by telephone, computer or other way, the Company may ask the Client to confirm such order in writing. The Company shall be under no obligation to act upon such order until such confirmation is received. Orders for the simultaneous sale and purchase of a financial instrument on behalf of the same beneficial owner may not be given under this Agreement.
- The Client authorizes the Company to rely and act on any order, request, instruction or other communication given or made (or purporting to be given or made) by the Client or any person authorized on the Client’s behalf without further inquiry on the part of the Company as to the authenticity, genuineness authority or identity of the person giving or purporting to give such order, request, instruction or other communication. The Client will be responsible for and will be bound by all obligations entered into or assumed by the Company on behalf of the Client in consequence of or in connection with such orders, requests, instructions or other communication.
- Cancellation/Withdrawal of Orders by the Client: If the Client requests cancellation of any order, the Company can only cancel such Client order if the Company has not acted upon such order, or if otherwise agreed by the Company.
- The Company has the right, but not the obligation, to set, at its absolute discretion, limits and/or parameters to control the Client’s ability to place orders or to restrict the terms on which a Transaction may be made. Such limits and/or parameters may be amended, increased, decreased, removed or added to by the Company and may include (without limitation): (a) controls over maximum order amounts and maximum order sizes (b) controls over total exposure of the Company to the Client (c) controls over prices at which orders may be submitted (including without limitation, controls over orders which are at a price which differs greatly from the market price at the time the order is submitted to the Company’s order book) (d) controls over any electronic services provided by the Company to the Client (including without limitation, any verification procedures to ensure that any particular order or orders has come from the Client)(e) any other limits, parameters or controls which the Company may be required to implement in accordance with Applicable Regulations. The Company may in addition require the Client to limit the number of open Transactions which the Client may have with the Company at any time.
- The Company does not allow actions or non-actions based on arbitrage calculations based on different systems or platforms in the Forex markets.
- The Company has the right, at its absolute discretion, to deny any withdrawal on profits from any trade(s) that are closed within 120 seconds after the trade opening.
- The Company is entitled, by its own discretion, to cancel any trade that has been executed due or in connection with an error, including wrong rates, system malfunction etc. The Company’s record will serve as decisive evidence to the correct exchange rates in the world markets and the wrong rate quote given to the Client, and the Company is entitled to correct or cancel any trade based on the correct exchange rates.
- Reporting: Client can see his open trades (“positions”) and guarantee funds situation at any time by accessing the Client’s Trading Account in the Company’s platform and viewing past trades’ reports generated by the Company.
- The Company is under no obligation to assess the appropriateness of any Transaction for a Client under the Applicable Regulations, or to assess whether or not the Client has the necessary knowledge and experience to understand the nature of and risks associated with the Transactions.
- Client acknowledges and agrees that the Trading Platform made available to the Client by the Company follows the market for the relevant Client, whether the Client is in front of his computer or not and whether the computer itself was switched on or not and exercises the order left by the Client when market conditions satisfy the Client’s request.
- Limit Order: A Limit Order is an instruction to trade at a level that becomes more favorable to the Client. A Limit Order can be used to open or close a position. Each Limit Order has a specified price limit set by the Client (but subject to the Company’s agreement). A Limit Order will be triggered if the Company’s bid price (in the case a sell order) or ask price (in the case of a buy order) moves in the Client’s favor to a point where the Client’s order can be executed. Once the limit level is triggered, the Company will seek to execute the order at that price. If the Company cannot do so (e.g. because in attempting to execute the order, the price becomes less favorable to the Client), the limit order will remain operational, waiting for the price to move again in the Client’s favor, such that it is triggered again.
- Stop Order: A Stop Order is generally placed to provide some risk protection, for example, in the event of the Client’s position moving into loss. A Stop Order can also be used to either open or close a position. Each Stop Order has a specific stop level, set by you (but subject to the Company’s agreement). The Stop Order will be triggered only if a transaction takes place on the Company’s trading platform at that stop level. Once the Stop Order is triggered, the Company will seek to execute the order at a level that is the same as the stop level (although it may be at a less favorable level).
- Margin Call: The Client agrees to pay the Company, on demand, such sums by way of margin as are required from time to time under the rules of any relevant market (if applicable) or as the Company may in its sole discretion require for the purpose of protecting the Company against loss or risk of loss on present, future or contemplated Transactions under this Agreement. In the event that the client fails to meet a margin call, the Company may close out the Client’s position(s). The Client acknowledges and agrees that this may result in a Transaction being closed out at a less favorable time than might otherwise be the case and the Company shall not have any liability to the Client as a result of it closing out any Transaction in such circumstances.