Code

Contract Size

Margin

Spread

Pip price

• The spread amount is not guarantee and can be changed if market moves rapidly (such as large currency interventions). The company has the right to adjust spreads without prior notice to the Client.
• Margin Requirement can be changed and increase according to market fluctuation. Client agrees to deposit by immediate wire transfer such additional margin when and as required by the Company.

• Open an New Account
  Standard Account Initial deposit: USD10,000 or above. Client must comply with all terms and conditions set out in opening documents.
  
  
• Transaction Currency
  All account operations shall be accounted in U.S. dollars calculations. US Dollar is the basis of calculation for all transactions and contracts in the trading account and displays in client‘s statement and ledger. Hong Kong dollars can also be used as settlement currency, we will convert the US Dollar into Hong Kong Dollar at US$1.00 to HK$7.80 and calculate all transactions and contracts in the trading account and displays in client‘s statement and ledger is Hong Kong dollars.
  
  
• Margin Requirement
  Intraday Margin Requirement: 1% of the contract value (Margin requirement: margin amount per lot)
  Overnight Margin Requirement: 1% of the contract value
  Hedged Margin Requirement: 0.5% of the contract value(each pair of locked lots: a pair of buy and a sell order)
  
  
• Overnight Interest
  a. Settlement Time
  GMT Mon till Fri XAU / HKGT/HKGG/XAG 19:00(US Market Close Summer) .GMT Mon till Fri XAG/XAU/HKGT/HKGG 20:00 (US Market Close Winter).

  b. The Interest Earned or Paid for Each Unliquidated Contract
  The executed price times the unit of contract is the interest earned or paid for each unliquidated contract. (XAU/XAG, three days interest will be charged/credited on un-squared trades and positions on Wednesday.) The interest earned or paid for each unliquidated contract follows the prevailing bank rate and market rate; it will be announced in the website. According to international spot gold and silver trading practice, contracts are to be settled on the second working day after the trade date. One day interest will be charged/credited on contracts traded on Monday, Tuesday, Thursday and Friday not squared on the same day. Three days interest will be charged/credited on un-squared trades and positions on Wednesday.

  c. HKGT/HKGG, three days interest will be charged/credited on un-squared trades and positions on Friday, which are calculated on the basis of the interest rate published by the CGSE and will be announced in the website.
  
   d. No interest will be payable on the margin deposit placed into the trading accounts.
  

  
  
• Margin Alert
  The margin ratio in the Internet trading platform is an index to show the client whether the margin in their account is sufficient for trading. When the equity balance falls below 100% of the margin requirement, the Internet trading platform will alert client on the equity balance. Customer is not allowed to open new trade when the usable margin falls below the amount required to execute the order except for locking in a position.
  
  
• Settlement on Lack of Maintenance Margin
  When the maintenance margin ratio is below 10%, the all open contract will closed automatically by Internet trading platform against the current market rate. When the margin is below 5%, the all hedging contract will closed by Internet trading platform automatically against the current market rate. The company does not guarantee to settle all open contracts against the current market rate in volatile market conditions which may cause a debit balance in the client‘s account; Consequently, Clients will be responsible for any resulting losses after contract settlement.
  
  
• Overnight Position
  a. All accounts with overnight positions. When the account balance is no longer able to cover the minimum margin requirement of 1% per lot, and the client failed to deposit a variation margin later than the time as the company prescribe, （US market closing price, 03:00am in summer and 04:00am in winter）, the company shall have the right to close part or all of the client‘s open positions with intraday closing price until the equity value is 100% or greater than the stop loss margin value for the remaining positions. The company shall have the right to choose which positions should be liquidated and in which order. Open positions will be closed at first and hedged position later.

  b. New Balance = Cash Balance + Realized Profit/Loss - Commission
  Floating P&L = the Profit or Loss of open positions in the account calculated by the current evaluation price of the market
  Equity = A/C Balance + Floating P&L
  

  
  
• Maintenance Margin Level
  It is the customer‘s responsibility to monitor and maintain his/her margin account balances at all times. The company will not be responsible for any profits and loss due to price change whether during trading hours or non-trading hours.
  
  
• Withdrawal
  a. Withdrawal Arrangement
  Clients may submit a request to withdraw their fund via written notice or fax or trading platform or email. The request should be sent to us before 1:00p.m.. If you direct us to make a withdrawal after 1:00p.m., we may initiate the payment on the following banking day. Upon receipt of a payment order from the client, the account balance shall be reduced by the amount of funds being withdrawn on the date of such receipt during normal business hours.
  b. The company will only accept account holder withdrawal.Third party payments are not permitted except transfer funds between the client‘s existing the company‘s trading accounts (bank account holder name should be in accordance with the name on trading account).For protection of client‘s interest, online withdrawal request will not be applicable to Joint Account.Joint Account client must download withdrawal form, completed, sign jointly and return the withdrawal form to us.(Time of remittance may vary between banks due to banking operation. We shall not be responsible for the amount of time required to transfer funds. All bank charges of remittance will be deducted from remittance amount.)
  
  c. The Client has the right to withdraw from his account unencumbered funds (that is, funds not used for satisfying margin requirement) without closing the account. This withdrawal must not put the balance of the account below minimum security deposit level. When the account balance is no longer able to cover the minimum margin requirement per lot due to the market change and wide price fluctuation, the company has the right to cancel the intraday withdrawal application of the client. 
  
  d. Close account, withdrawal requests and corresponding correction of the account shall only be processed in the absence of open positions.
  
  
• Order Type ﹣Market order
  a. A market order is an order to buy or sell a specific currency, which is to be filled immediately at the current exchange rate quoted on the screen. Under normal market conditions, orders are executed automatically within 5 – 10 seconds. It is important to note that during extremely fast market conditions, it is possible for a trader to get requote. This means that when prices are moving rapidly, the price quoted on the screen may have already changed by the time the order is processed. Under no circumstances will a market order be filled at a price which the client has not approved. The Internet trading platform allows for a maximum of 20 contracts per dealing quote. Minimum number of contracts per quote is 0.5 of a contract.
  Remarks: The company reserves the rights to change this trading limit, it is effective upon announcement in the website.
  
  b. Executed orders can not be cancelled, modified or withdrawn. The client cannot cancel that trade from his/her account after the trade confirmation of our staff. Additionally, if a client executed a trade at a price which at the time the trade was executed was wrong and/or delayed from the actual market price, the company may cancel that trade from the Client‘s account. The company will not accept trading with insufficient margin (include phone dealing), placing order with insufficient margin will be cancelled immediately.
  
  
• Phone Transaction
  To provide clients with the convenience to trade when internet is inaccessible to them, we have set up a dealing hotline. In the event of computer failure and internet trading is temporarily suspended, using our phone dealing service will not incur any charges. During normal computer operations and network connections, The Company do not recommend clients placing orders via phone dealing, and in such circumstances trading via phone dealing may be charged a few pips higher than trading via the internet trading platform.
  
  
• Order Type ﹣Limit Orders
  A limit order can be used to lock in gains on a positive position. Limit Order is an order that is executed at the moment market price touches the client‘s specified price. The executions of these orders are under the supervision of the trading system and remain in effect until the client cancels the existing order or it will be effective till set cancel day. Because they will not be executed unless they reach your desired price, limit orders may or may not get executed. The price of the entry order and the current price shall not differ less than 15 point. Otherwise limit orders not get executed. Limit order refers to the possibility to target a price above or below the current market price for a new order. Buy Limit: buy below the current market price. Sell Limit: sell above the current market price. Market‘s volatility may cause market price moving over 1 pip at one single movement. For example, if you want to buy at 20 when the market price is 10, market price may jump from 19 to 30. Order will be executed at 30 since the market does not accept price below the current market price. However, selling order will be executed at 20 as the market will accept a selling price above the current market price. Since the market accept buying price higher than the prevailing market price. Under normal market conditions (excluding wrong price), we do our best to provide execution at the trader‘s specified price. Trading with insufficient margin, placing order (neither new order nor close order) with insufficient margin will be cancelled immediately. The company reserves the rights to adjust the pips between limit prices and market price due to the rapid change in price caused by the market, it is effective upon announcement in the website, and the client should have no objection. 
  
  
• Order Type ﹣Stop Loss Order
  The price of the entry stop loss order and the current price in the associated stop loss order shall not differ less than for 15 points. Otherwise limit orders not get executed. Limit orders and stop orders can be used to both buy and sell contracts. It is important to note that, by convention, "buy limit" and "sell stop" orders are entered in below the current market price. "Sell limit" and "buy stop" orders are entered in above the current market price. Buy Stop: buy above the current market price. Sell Stop: sell below the current market price. The market price may exceed more than 1 pip in one single movement. If your stop loss price is set at 10, market price may drop directly from 11 to 05. Since the Market cannot accept selling price higher than the prevailing market price, the system will stop loss at 05 instead of 10. For profit taking order, the contract will be executed at 10, because this price is higher than the market price. However, sell limit will be executed at 10 as the market will accept a selling price above the current market price. Under normal market conditions (excluding wrong price), we do our best to provide execution at the trader‘s specified price. Trading with insufficient margin, placing order (neither new order nor close order) with insufficient margin will be cancelled immediately. The company reserves the rights to adjust the pips between stop loss prices and market price due to the rapid change in price caused by the market.
  
  
• Order Type ﹣One Cancels the Other Order (“OCO”)
  The price of the One Cancels the Other Order and the current price in the associated One Cancels the Other Order shall not differ less than for 15 points. Otherwise limit orders not get executed. An OCO order consists of two separate "Buy" or "Sell" instructions. It cannot contain a "Buy" and a "Sell". A contingent order providing that one part of the order is cancelled if the other part is executed. This is a particularly useful order type in that it allows traders to execute specific trading strategies based on technical analysis - without having to watch the market tick by tick. Under normal market conditions (excluding wrong price), we do our best to provide execution at the trader‘s specified price. Trading with insufficient margin, placing order (neither new order nor close order) with insufficient margin will be cancelled immediately. The company reserves the rights to adjust the pips between One Cancels the Other Order prices and market price due to the rapid change in price caused by the market.
  
  
• Limit Order Placement
  Placement of Stop / Limit orders and One Cancels the Other Order may only be placed or cancelled during trading hours. But before 3 minutes of significant economic announcements or under extraordinarily volatile market conditions order placement of Stop / Limit orders and One Cancels the Other Order will be not be accepted. It is obvious that during, or immediately preceding, significant economic announcements, market volatility is greatly increased. As a consequence, The company will have 2 options: (1) widening the spread on currency pairs, or (2) increasing the entry stop and limit ranges. Effective immediately, the required range between a new stop or limit order and the market price will increase from 15 pips to a of 50 pips or above approximately 10 minutes before a significant economic announcement, in order to reflect the degree of current market volatility. During extremely fast market moves, you may therefore notice that you are unable to place or move any stop or limit order to within 50 pips of the current market price. Under normal market conditions, we do our best to provide execution at the trader‘s specified price. However, during extremely fast market moves, this sometimes is not possible. Under no circumstances will a market order be executed at a price that is not approved by the trader.
  
  
• Temporarily Stop to Accept a Limit Orders
  The company has the right of adjusting the distance between the limit price and the current price and may temporarily stop to accept limit orders accordingly.
  
  
• Order Cancellation
  Non-market Orders may be cancelled via the Internet trading platform. (Order Cancellation, including Limit Orders, Stop/Loss Orders, One Cancels the Other Orders, are accepted by the company .) Rapid changes in Bid Prices and Ask Prices, however, may cause Customer‘s Order to be executed before Customer can cancel it.
  
  
• Order Expiration
  All limit orders will be automatically canceled if not executed till the United States market close (GTF) of Friday.
  
  
• Quoting Errors
  Should a quoting error occur due to a mistype of a quote or a misquote given by telephone and/or electronic means (including responses to Customer requests), the company is not liable for any resulting errors in Account Balances and reserves the right to make necessary corrections or adjustments on the Account involved.
  
• Transaction Confirmation
  All transaction records and reporting, in addition to customers within 24 hours the company executive in charge of a written protest, all transaction records and reporting will be in one day for final verification. Where a discrepancy occurs in transaction, our data in trading system or record of the telephone shall prevail.
  
  
• Change Transaction Rules
  The company reserves the right to add, delete or change all the transaction rules which will become effective after published on websites of the company. Clients will be informed the change of margin requirement by system information of the trading platform. When an account balance is no longer able to cover the minimum margin requirement, all open contracts will be closed automatically against the current market rate. (Any change in the trading regulations above will be posted on our website without individual notification, the clients are advised to read and look out for the notice every time when you access the website.)