The following is a brief overview of key points explored further in these Terms. Please ensure you review this entire document prior to opening a LIVE account. To open a LIVE customer trading account it is required to: Navigate to the “Open An Account” section of the Company’s website, complete online application, and include all KYC documentation. Upon completion of the application, Customer will then receive a validation email. Upon validation, the Customer’s account will then be approved, declined, or a request for more information will be sent. If approved, Customer will receive LIVE account login credentials and will be sent instructions on account funding options. To fund, the Customer will be required to deposit USD 250 (or an equivalent of this sum in an alternate currency in which the Company accepts) to the Company’s account. The minimum to open an Account is USD 250 (or equivalent.) The Company reserves the right to change or modify the minimum deposit needed without prior notification to the Customer.
A list of available currency pairs and bullion available for trading can be found on the Company’s MT4 trading platform. The Company reserves a right to add/remove currencies to its trading environment without prior notification on the Company’s official website and/or on the MT4 trading platform.
A list of available CFD’s can be found on the Company’s MT4 trading platform. If not available immediately, CFD trading will be available in the near future. The Company reserves the right to add/remove CFDs to its trading environment without prior notification on the Company’s official website and/or the MT4 trading platform.
Base Units (Contract Sizes):
The minimum lot size for an account is 1,000 base units. On the MT4 trading platform, 0.01 is equivalent to 1,000 base units, 0.1 is equivalent to 10,000 base units, and 1.0 is equivalent to 100,000 base units. The standard contract size for gold is 100 oz, and silver is 5000 oz. The minimum contract size for gold is 10 oz, and silver is 500 oz. We STRONGLY encourage the Customer to familiarize his or herself with the contract sizes and other trading related activities via a demo account, which is available to all Customers.
A range of leverages is available for trading from 1:1 to 500:1. By default the account leverage is set to 100:1, which can later be changed. The Customer has a right to perform margin‐trading orders, and set the leverage by himself or herself, depending on the customer deposit, lot size, and order volume. The Customer has a right to request a change in leverage in accordance with Company’s policies (all orders must be closed prior to leverage change). The Company reserves the right to grant or deny any requested changes from the Customer. Maximum leverage for an account is 500:1. All the necessary currency trading‐related information regarding spreads, swaps, margin requirements, etc is located at the Company’s official website and/or MT4 trading platform. All the necessary CFD trading‐related information regarding spreads, swaps, trade sessions, margin requirements, etc is located at the Company’s official website and/or MT4 trading platform.
Margin Calls & Margin Requirements
The Company has instituted a Margin Call Policy to protect Customers from losing more money than they have available in their accounts, and to protect the Company. Margin calls are executed when a Customer’s account has less equity available than required to maintain his or her open positions. The Company’s margin calls are activated in real‐time on an automatic basis, and occur when a Customer’s Equity (Liquidation Value) reaches a level that is equivalent to 30% of Used (Open) Margin. This 30% is known as the Maintenance Level. Via the Company’s MT4 trading platform, positions are closed prior to the market having a chance to move further against the client’s trades. For example, let’s assume a Customer with USD1000 opens an account and opens (5) 10,000 Unit Lots (50,000 units) of Usd/Chf using 100:1 (1%) Leverage. As a result, 1% of 50,000 or USD500 will be set aside as Used Margin, and the Customer will have USD500 remaining as Usable Margin. If the direction of the Usd/Chf moves opposite the Customer’s position, and their Equity (Liquidation Value) reaches USD150 from the original USD1000 deposit, this would breach the 30% maintenance level. As a result, the position will be automatically closed in order to protect the client from losing any more of their remaining balance, and possibly falling into negative territory.
The Company may, at the discretion of its dealers, close any or all open positions in a Customer’s account in the event that a Customer’s account falls below the minimum required equity. Generally, when there are or more open positions the Company reserves a right to close the position(s) first with the highest floating loss on a highly volatile market when the Equity reaches 30% of Used or Open Margin. The largest positions are closed prior to the smaller positions, however the Company may at its discretion first close only the positions that carry the most risk. Even though our MT4 trading platform keeps track of used and free margin, it’s the Customer’s responsibility to keep track of these account balances at all times. In addition, two other safeguards are in place to protect both the Customer and the Company alike. The first of these safeguards are once the Equity reaches 100% of Used Margin, the Customer will only be able to enter orders to hedge his/her current position(s.) The second of these safeguards is that once the Equity reaches 50% of Used Margin, the Customer will not be able to enter any new positions, only the ability to exit current position(s.)
Types of Trading Methods Allowed
Generally speaking, the Company allows all types of trading methods, styles and MetaQuotes Expert Advisors. The Company does reserve the right, however, to close any account it deems is engaging in unethical or questionable trading styles including, but not limited to latency arbitrage and the act of “flooding” of our servers with an excessive amount of pending orders, without notice. The Company will usually (but is not obligated to always) attempt to initially express its concern to Customer or associated parties via email or telephone in the form of a formal warning. If the Customer or associated parties does not modify trading style within 1 hour following the warning, Company may be forced to liquidate all open positions, close account, and return all proceeds to Customer according to Company account closing procedures.
Deposits & Withdrawals
The Company currently accepts local transfers as its primary means of account funding. Additional methods of funding will be available in the future. Company will make best attempt, but make no guarantee, that said funds will be credited to Customer’s account within 2 business days following receipt. Additional account funding information can be found on Company’s website. All withdrawal requests MUST be made via the Company’s website. In compliance with AML regulations, All withdrawals will be returned via the same method and same account in which the account was funded. Withdraws will be processed during the same business day in which it was received. Customer should allow up to 5 full business days to receive funds. Additional withdrawal information can be found on Company’s website.