Trading Policy

INSTANT AND MARKET ORDER EXECUTION

Instant Order

This is an order to either buy or sell at the ‘ask’ or ‘bid’ price (respectively) as it appears in the quotes flow at the time the client presents the order for execution. Possible outcome of Instant Order including:

1.     Executed order

2.     Price Requote

3.     Rejected order

Market Order

This is an order to either buy or sell at the ANY ‘ask’ (Current Market Price) or ANY ‘bid’ price (Current Market Price) (respectively) as it appears in the quotes flow at the time the client presents the order for execution. Possible outcome of Market Order including:

1.     Executed order

2.     Rejected order

Consult details of products inside the MT4 terminal for more information.

 

PENDING ORDER

Stop Orders

This is an order to buy or sell once the market reaches the ‘stop price’. Once the market reaches the ‘stop price’ the ‘stop order’ is triggered and treated as a ‘market order’. In terms of Contracts for Difference (‘CFDs’) on FX, spot metals and futures ‘stop orders’ should be placed a minimum number of pips away from the current market price

Stop Loss

This is an order to minimise losses. Once the market reaches the ‘stop loss price’ the order is triggered and treated as a ‘market order’. In terms of CFDs on FX, spot metals and futures ‘stop loss’ should be placed a minimum number of pips away from the current market price

Limit Orders

This is an order to buy or sell once the market reaches the ‘limit price’. Once the market reaches the ‘limit price’ the ‘limit order’ is triggered and executed at the ‘limit price’ or better. In terms of CFDs on FX, spot metals and futures ‘limit orders’ should be placed a minimum number of pips away from the current market price

Take Profit

This is an order to secure profits. Once the market reaches the ‘take profit price’ the order is triggered and treated as a ‘limit order’.  In terms of CFDs on FX, spot metals and futures ‘take profit’ should be placed a minimum number of pips away from the current market price

 

PENDING ORDER EXECUTION

PENDING ORDER STOP

Placement of Pending Stop Order for new position is not allowed. Placement of Pending Stop Order is only allowed to hedge existing positions.

STOP LOSS

In the case that client’s open position have an attached Stop Loss order (SL) and quote spikes took place resulting client’s equity at or below 10* percent level then the attached SL will be voided and executed according to market price or Stop Out level instead. This policy may not take into consideration the “minimum spread condition” outlined on “SLIPPAGE” section below.

SLIPPAGE

During certain market scenarios and conditions, pending orders ( buy stop/sell stops, including limit orders ) will be confirmed/executed at market price.

If a working pending stop order contains take profit order (TP) and the spiked quote reaches or is over the TP level, the said TP will be automatically nulled by the system.