MT4 Trading Manual. Effective date: 13 October 2015

Save this PDF as:

Size: px
Start display at page:

Download "MT4 Trading Manual. Effective date: 13 October 2015"

Transcription

1 MT4 Trading Manual Effective date: 13 October 2015

2 LMAX MT4 Trading Manual Effective date: 13 October 2015 This Trading Manual ( the Manual ) provides further information and worked examples on our trading services when using MT4 trading platform. The Manual forms part of our agreement with you. It is intended to be read alongside our Customer Agreement and the other documents that form our agreement with you. If there is any inconsistency between the Manual and our Customer Agreement, the terms of the Customer Agreement will prevail. Unless separately defined in this document, words and expressions have the meanings given to them in the Customer Agreement. Contracts for Differences ( CFDs ) and Rolling Spot FX contracts ( FX contracts ) are leveraged products that carry a high degree of risk. They are not suitable for everyone. You should not trade with us unless you understand the nature of the transaction you are entering into and the extent of your potential loss from a trade. You must satisfy yourself that it is suitable for you in the light of your circumstances, financial resources and investment objectives. If you are in any doubt you should seek independent advice. You trade entirely at your own risk. 1. WHAT WE OFFER We provide direct access to prices 1 on instruments (for example, UK100 and GBP/USD) being offered on the LMAX multilateral trading facility ( the MTF ). You trade with us as principal and not as agent on your behalf on the prices we obtain on the MTF. We process each order you place with us on your MT4 account by placing an identical order (referred to as our Back to Back Order ) on the MTF. Upon our Back to Back Order being filled on the MTF, we shall open or close a trade on the MTF (which is known as a Back to Back Trade ). A trade will then be opened or closed on your MT4 account at the same price and in the same size as our Back to Back Trade. The prices on the MTF are constantly changing and we do not guarantee that the price you see when placing an order will be the price at which your trade is executed. In exceptional circumstances, including where no trusted price is available on the MTF, we may obtain prices from third party sources in order to facilitate fair and orderly trading. In such circumstances, relevant references in this Manual to prices on or obtained from the MTF should be read as referring to the prices obtained from third-party sources. If we obtain a price from a third party source, we shall enter into a trade with a third party offering that price (which shall also be known as a Back to Back Trade for the purposes of this Manual), and once we have done so, your Order will be executed and a trade opened or closed on your MT4 account at the same price and in the same size as our Back to Back Trade. 1 The price at mid point between the MTF ask price and MTF bid price will be shown where the MTF ask price is lower than the MTF bid price (an inverted market). You will still trade at the actual MTF bid or ask price. 1

3 2. TRADING ON THE MT4 PLATFORM 2.1 Opening an MT4 Trading Account You must contact our Client Services team once your LMAX web account is opened and funded in order to open an MT4 trading account. Our Client Services team will open an MT4 trading account for you. You will receive an detailing your account login credentials and the MT4 platform download link. It is important to note that we carry out routine maintenance each day between 22:00 22:05 UK time. Our service may be unavailable during this time. 2.2 Telephone service Our telephone service is provided to help you with questions on your Account and to process payments for your Account. We may also place trades on your behalf during our Helpdesk Hours. Before we accept an instruction relating to your Account we will confirm your identity using your username and other security information. We will rely on this information to identify you and you agree that you will not disclose these details to any person not duly authorised by you. 3. PLACING ORDERS & TRADES To open or close a trade with us, you must first submit an Order ( Order ) to us. You may submit an Order online via the MT4 Client Terminal, or via other MT4 Software Trading Tools (such as MT4 supported mobile applications), or by speaking to us on the telephone during our Helpdesk Hours. Our helpdesk hours as applicable from time to time can be found on the Website ( Helpdesk Hours ). You cannot submit an Order by leaving a message on any automated voic or answering service or through a live chat system service. We shall not accept and shall not be under any obligation to execute any Order submitted by these When trading via the MT4 Client Terminal, all Orders submitted by you are immediately sent to the MT4 Server. Upon receipt of your Order, the MT4 Server transmits the order request to the MTF as a market order. This means that all orders placed on the MT4 trading platform are executed on the MTF as Market orders at the best available price on the market at the time. 3.1 Some factors that may impact your Orders and Trades This section cannot and does not attempt to explain all of the information that is relevant to our trading service. For this information please refer to all of the documents that form our agreement with you Order execution is not certain and will depend on liquidity available Our Back to Back Order submitted to the MTF will mirror the Order that we have accepted from you. We cannot guarantee that our Back to Back Order will be matched or filled on the MTF. Our ability to open or close a trade on your MT4 account using MTF prices is entirely dependent on our ability to execute our Back to Back Order on the MTF or obtain a price from a third party source. It is only when our Back to Back Order is matched or filled on the MTF or we are able to obtain a reasonable price from a third party source that a trade will be opened or closed on your account Factors such as the quantity of your Order and liquidity available in the instrument you wish to trade will impact whether our Back to Back 2

4 Order can be executed. It may therefore not be possible to open or close a trade on your MT4 account immediately. If we are unable to execute all or part of our Back to Back Order as there is insufficient liquidity on the MTF, we will endeavour to execute one or more Back to Back Orders using a third party price source, and if that is also not possible, the part of the Order that did not execute would be cancelled All Orders are dealt with on the basis of price and time priority The MTF will take liquidity from the top of the order book for any Orders that you place in order to get the best price available for the size of the Order at the time it is placed. This can result in the price you receive being better or worse than the quoted price on the MTF at the time your Order is sent to the MTF from the MT4 Server Times that Orders can be set on your account are restricted Orders can only be placed during the trading hours of an instrument. To find out the trading hours of an instrument, please view the Instrument Information on the LMAX web trading platform. Pending orders, including contingent Stop Loss and Take Profit Orders, cannot be cancelled or amended outside of trading hours Untrusted and suspended markets A market becomes untrusted in the event that the bid and ask prices of an instrument quoted on the MTF widen beyond a trusted range. Where this is the case, we will disable trading. The MTF may also from time to time suspend trading of an instrument. These measures are in place with the aim of maintaining an orderly trading market. So, in circumstances where the market is untrusted or suspended we will not normally accept any new Orders (and reserve the right not to do so). A Market Order placed before the price widens beyond a trusted range could be partially filled with the remaining quantity being cancelled if the price widens whilst the MTF attempts to execute the full quantity of the Order Inverted Markets Where the MTF ask price is lower than the MTF bid price (an Inverted Market ), the price at the mid point between the MTF ask price and MTF bid price will be shown to you on both sides of the order book. However, you will still trade at the actual MTF bid or ask price, which will be no less advantageous than the price shown Sufficient resources to cover the margin required for your Order You must normally have sufficient resources in your account to cover the Margin Required to support an Order you wish to place. To find out how we calculate your available resources see Section 4 and to understand how margin is calculated please refer to Section 5 of this Manual. Please note that pending orders will not require additional margin until they are filled on the MTF Cancellation and Amendment Subject to Terms 3.1.4, and 3.1.6, you may cancel or amend any part of your Order so long as the corresponding part of our Back to Back Order that relates to the part of the Order you wish to cancel or 3

5 amend has not been filled on the MTF or using a third party price source. You may not cancel or amend your Order after that time. 3.2 Types of Order and their Execution The following order types can be placed on the MT4 Client Terminal. Please note that non market orders entered on your MT4 Account will be sent from the MT4 Server to the MTF order book as a Market Orders when triggered Market orders Market Orders are Immediate subject to sufficient liquidity. If there is insufficient liquidity or the instrument is suspended on the MTF, the MT4 Server will attempt to send market orders for the unfilled balance for a limited amount of time or until it receives a rejection message from MTF, whichever is quicker. If after this time part of the original order remains unfilled, then this portion will be cancelled Contingent orders The contingent orders you place on your MT4 Client Terminal are sent to the MT4 Server and sit there until their price gets triggered by the market price, then they are sent to the MTF for execution as Market Orders Limit Orders Limit Orders are not sent directly to the MTF order book. They are kept on the MT4 Server until such time that they trigger or are cancelled. When a Limit Order triggers, it will be transmitted by the MT4 Server to the MTF as a Market Order. Limit Orders entered onto your MT4 Account can be used to open or close a trade and can be set to never expire (Good Till Cancelled ( GTC )) or you can set a date and time for the expiry. For an Order with an expiry date set, any portion of the Limit Order which has not been executed until the set time comes is automatically cancelled at expiry. It may be the case that your Limit Order could be partially executed if there is insufficient liquidity to cover all of your Order. In the case of a GTC Limit Order it will continue to work until it is cancelled Stop Market Order Stop Market Orders are not sent to the MTF order book. They are kept on the MT4 Server until such time that they trigger or are cancelled. When an MT4 Stop Market Order triggers, it will be sent by the MT4 Server to the MTF as a Market Order. Stop Market Orders entered onto your MT4 Account can be used to open or close a trade and can be set to never expire (Good Till Cancelled ( GTC )) or you can set a date and time for the expiry. For an Order with an expiry date set, if the Stop Market Order has not been executed until the set time comes, it is automatically cancelled at expiry. In the case of a GTC Stop Market Order it will continue to work until it is cancelled Minimum trade size on the MT4 platform 4

6 One FX lot in MT4 has a notional value of 100,000 in the first named currency of the pair. The contract sizes for all instruments can be found on the MT4 Client Terminal in the Market Watch window. The minimum trade size for Spot FX and Spot Oil instruments is 0.01 lots. The minimum trade size for Spot Metal instruments is 0.2 lots. The minimum trade size for Index CFD instruments is 0.1 lots. The above may be subject to change Hedging on the MT4 platform It is possible to hedge your positions on the MT4 platform. Please note that overnight financing is charged on both legs of the hedged trade. The fully hedged positions are not currently margined, however this is subject to change. It is important to note that whilst the hedged position may not be margined it is not a risk free position and will experience losses in the event that the spread between the best bid and best offer in the hedged position instrument increases. In the event that spread widening results in negative equity on your account all the positions will be closed despite the positions being hedged. 3.3 Account Statements We shall send an account statement to you confirming the details of the trades open and closed on your account. You will receive one account statement containing all of your trades executed on a Business Day and it will usually be sent to you by at the market close each day. If you believe that any of the details of your account statement are inaccurate you should contact us immediately. Other than on your specific request, account statements will be sent to the address we hold for you, which will be the address specified in your application form, unless you have notified us of an alternative address, in which case it is that address we shall use. We reserve the right to make a reasonable charge for account statements requested to be sent to you in paper form. We strongly recommended that you print your account statement and retain them as part of your records. Please note that the absence of an account statement does not affect the validity of any trade. Corporate Actions on your open trades One or more of your trades may be affected by a corporate action type event ( Corporate Action ) the occurrence of which may have a dramatic effect on your trade(s) and/or on your account generally. A Corporate Action can include but is not limited to: any rights, scrip, bonus, capitalisation or other issue or offer of shares, warrants or options any acquisition or cancellation of own shares by the issuer any reduction, subdivision, consolidation or reclassification of share capital any distribution of cash or shares, including any payment of dividend a take-over or merger offer any amalgamation or reconstruction affecting the shares concerned 5

7 We will undertake any actions that we consider reasonable and necessary to give effect to the Corporate Action as it relates to your CFD trade(s) with us. The actions we may take upon the occurrence of a Corporate Action are as follows: your account may be credited or debited with an amount due your open trades and/or working Orders including any Take Profit or Stop Loss Orders may be adjusted, closed or cancelled to reflect the terms of the Corporate Action one or more new trades may be opened on your account we may increase our margin factor in relation to your affected trade(s) restrict your account so that you are not able to close one or more of your affected trades until after Corporate Action has passed We recommend that before you open a trade with us you carry out your own research into whether the trade that you intend to open is liable to be the subject of a corporate action type event and if so the likely effect of that action on the trade that you wish to open. Below is an example that shows what would happen if a dividend was applied to an Index Instrument. For a dividend adjustment to be applied to your account you must hold an open trade at the close of the trading session on the Business Day before the ex-dividend date. Dividend example for US SPX500 Your account is Long 1 MT4 Contract in the SPX500 CFD on Tuesday. SPX500 CFD dividend adjustments can be on any day before market open. The dividend adjustment for underlying on Tuesday is 0.75 dividend points. The contract size for MT4 SPX500 contract is $250 per whole point. As you hold a long position in the CFD, you will receive an amount equal to the cash dividend on that instrument. Your account will therefore be credited on $ before market opening, which is calculated as: Dividend adjustment for your open trade = (Dividend adjustment x Contract size) x Quantity = 0.75 x 250 x 1 = $ This is then converted back to the base currency of the account to calculate your Available Margin Balance in accordance with section 5.1. If you held a short open trade, your account would be debited an amount equal to the cash dividend in the instrument. This would mean that $ would have been debited from your account in the above example. Please note that where a dividend applies to a CFD, the price of that instrument can fall by the amount of the dividend with the net effect on your open trade being equal once the dividend adjustment has been made. The dividend adjustments are made on your MT4 Account on the business day of the 6

8 ex-dividend date. 4. AVAILABLE TO TRADE BALANCE For MT4 clients the Free Margin shown on your MT4 Account should be understood as Available Margin on your MT4 account statement, and is worked out as follows: Equity Minus Margin Required; Equity is calculated as follows: Your account balance plus unrealised P/L on open positions minus any accrued charges on open positions. Please see section 5.1 for Margin Required. 4.1 Trading in Instruments that are not in your Base Currency Your MT4 Account will display all charges and profit or losses related to open positions on your account in the Base Currency of your account. - Commission is charged and converted to your base currency at the time of opening a position but deducted from your balance after the position is closed. - Swap charges are accumulated on your account and converted to your base currency at EOD if the trade is held past this time but deducted from your balance after the position is closed. - Realised P&L is converted to the Base Currency at the time an open position is closed. 4.2 Negative Available to Trade Balance You must not allow your Free Margin to move into deficit as this means that you do not have sufficient resources on your account to support your open trades. It will become negative if the Margin Required on your open positions is greater than the equity on your account. It is your responsibility to monitor your Free Margin at all times in order to prevent it from moving into deficit. You may monitor your Free Balance online through the MT4 Client Terminal. If you have any working Orders and/or open trades, and you are aware you will not have access to the MT4 Client Terminal for any period of time, you may consider paying additional funds into your MT4 Account to counter any unfavourable Instrument movement so as to reduce the risk of your Free Margin moving into deficit. 5. MARGIN 5.1 Margin Required 7

9 In order for us to accept an opening Order from you, your Free Margin will normally be required to contain sufficient resources to cover the Margin Required for the Orders that you wish to place. Total Margin Required on your MT4 account is the aggregate of Margin Required for your open trades. Whilst a trade is open, the Margin Requirement will be calculated by multiplying (a) the number of contracts requested (b) by the contract size (c) by the opening price (d) by the Margin Factor for the Instrument. Unless the Margin Factor changes, the Margin Requirement remains fixed throughout the life of each individual trade. If you hold an open trade in an Instrument that is priced in a currency other than your Base Currency, the MT4 platform will calculate the value of the Margin Required for that Instrument in your Base Currency using the prevailing exchange rate. 5.2 Margin Level The percentage of Total Margin Required that is being covered by the equity in your account is referred to as the Margin Level. The Margin Level is calculated as the equity in your account expressed as a percentage of the Total Margin Required on your open trades. You should maintain a Margin Covered Percentage of at least 100% at all times. In the event that you are not covering 100% of Margin Required you will need to fund your account or reduce your Open trades. 5.3 Margin Close Out Level If your Margin Level reaches or falls below your Margin Close Out Level at any given time this is an Event of Default under Term 20 of the Customer Agreement. In these circumstances, we may but are not obliged to exercise our rights to close any or all of your open trades at any time thereafter without further notice to you. 6. COMMISSIONS & CHARGES This section outlines the commissions and other charges that may apply to our service. 6.1 Commission We will charge a commission on the opening of a trade on your account. Both opening and closing commission are charged at the time you open a trade. Our commission charges are subject to change. If you opened your LMAX account as a direct client with LMAX Exchange, we will charge a commission on your MT4 Account as a percentage of the notional value of your trade. 8

10 Instruments Commissions Standard Indices AUD contracts contracts contracts $ contracts JPY contracts Rolling Spot FX & Spot Commodities All crosses $ AUD fixed per contract fixed per contract fixed per contract $ fixed per contract JPY fixed per contract % of the notional traded in the second-named currency Charge per lot dependant on base currency $8.00 AUD per lot 5.00 per lot 6.00 per lot $8.00 per lot 944 JPY per lot PLN per lot $6.84 AUD per lot 4.06 per lot 5.00 per lot $6.5 per lot 767 JPY per lot PLN per lot If you opened your LMAX account introduced by an Introducing broker partner, we will charge a commission on your MT4 Account as a fixed charge per lot irrespective of the currency pair traded: Instruments Commissions Indices All indices Fixed charge per lot in your MT4 account base currency Rolling Spot FX & Spot Commodities All crosses Fixed charge per lot in your MT4 account base currency For more information regarding the fixed commission charges on your MT4 Account please refer to your Introducing Broker partner or to our Client Services team. 6.2 Financing charge Financing charge on Index CFDs If you hold a position open overnight, we shall charge you a financing charge. The cumulative financing charge will be applied on the open positions on your MT4 Account each and every day that you have an open trade (including on weekends and on public holidays in England). The financing charge is calculated as follows: 9

11 F = V I / b where: F = Financing charge V = notional value of your trade (quantity x contract size x average weekly price) I = applicable Financing Rate b = day basis for currency (quoted as the first currency in the pair -365 for GBP, HKD, AUD and NZD, 360 for all other currencies) There may be instances when a financing charge is charged on short positions, rather than paid to you. This may occur if a reference rate used to calculate the financing charge is at an exceptionally low rate. As explained above, the notional value of your trade for the purposes of calculating the financing charge is calculated using the average weekly closing price. The closing price will be calculated on a weekly basis from the average trusted bid and ask prices on the MTF. Example of Financing on a CFD You are long 1 MT4 contract in UK100 CFD overnight where the closing price of the instrument is The average weekly price is The LIBOR rate that day is 0.725%. Your financing charge would be: Financing = Notional value of your trade x financing rate / day basis for currency = x (0.725% + 2.0%) / 365 = 3.93 That means that you would be charged 3.21 for holding 1 long MT4 contract overnight. If you were to hold a short position in the same instrument overnight your financing would be calculated as: Financing = Notional value x financing rate / day basis for currency = x (0.725% - 1.5%) / 365 = 1.12 Even though you are holding a short position you will be charged 1.12 overnight as LIBOR is at a very low rate Financing charge on Rolling Spot FX The financing charge for a Rolling Spot FX reflects the relative interest rates of the two currencies comprising your open trade plus a premium dependent on market conditions and including a LMAX charge. When a position is held overnight night, MT4 platform will apply a financing charge on any open positions on your MT4 account. This will be reflected as a cumulative charge on individual open trades, namely relative interest rates and LMAX Exchange premium. Spot FX trades settle on a T+2 basis, with the exception of USD/CAD, USD/TRY, EUR/RUB and USD/RUB which settle on a T+1 basis. If a Rolling Spot FX position is held through the market roll over (17:00 NY for all FX pairs except NZD pairs which roll at 07:00 Auckland), your account will be credited or debited with a financing charge. You will be credited or debited your 3-day (weekend) roll based on your open positions at the market close on Wednesday for all T+2 pairs and based on your open positions at the market close on Thursday for all T+1 pairs. The financing will accrue on your open trade 10

12 and will be shown as a cumulative amount from the time the trade was opened, and will be reflected in your account base currency. The financing will be taken off your balance at the time the trade is closed. Swap charges are quoted in swap points. The actual charges can be seen on your MT4 Client Terminal. A negative swap charge will result in your open trade paying the charge, and will result in a debit after the position is closed. A positive swap charge will result in your open trade earning the charge, and will result in a credit after the position is closed How to calculate financing charge To calculate the overnight financing event, the following equation can be used: F = V x R x D where: F = Financing Credit/Debit. V = Notional value of your open position in the front currency (quantity x contract size). R = Swap Point. D = Number of days the position is rolled. Example of financing on an FX contract You are short 10 MT4 lots of EUR/USD overnight. The position is rolled for 1 day. The cost of holding the position overnight is: V = 10 x 100,000 = 1,000,000 R = D = 1 day Financing event: Credit = 1,000,000 * * 1 = $3.00 This means that a charge of $3.00 will be reflected on your open position on your MT4 account at market close Expiry CFDs in Commodities No separate financing charge is applied on CFDs based off futures prices which have a fixed expiry date Financing Charges on hedged positions All open positions will incur a financing charge if held overnight. For hedged positons this means that both sides of the hedged positions will be charged financing. 6.3 Fee and Commission Sharing Arrangements 11

13 We may pay to third parties (for example Introducing Brokers, Appointed Representatives (as defined by FCA Rules), etc.) a portion of any dealing commission, spread, financing charge, and/or any other charge you may pay. Typically this will be a percentage of the amount we receive from you. 7. FUND TRANSFERS 7.1 Depositing funds to your account You will need to fund your LMAX web account first and then instruct our Client Services to move funds to your MT4 Account. You will be able to deposit funds using your debit card, credit card or bank account that is held in your sole name. You will also be able to deposit funds from a bank account that you hold jointly with a third party on provision of documentation that shows the source of the funds. We may ask for documentation to verify the source of where funds are being transferred to and from. Where we do this, we will hold fund transfer requests until appropriate documentation has been provided and deemed acceptable. 7.2 Withdrawing funds from your account You will only be able to withdraw the free margin from your account. Funds will then be transferred back to your LMAX web account, and from there can only be sent back to the account that the funds originated from using the same method of transfer. 7.3 Moving funds between your LMAX web trading account and MT4 account We only move your funds from your LMAX web trading account to your MT4 Account and vice versa upon your request. You can request the transfer of your funds by contacting our Client Services team. Please note, the fund transfers between your MT4 Account and LMAX web trading platform are normally processed between 08:00 AM and 06:00 PM UK time. We currently do not process fund transfer requests outside of the times mentioned above. 8. TRADING CONDUCT AND MARKET ABUSE Since you will be effectively participating directly in the market by trading with us, you agree that you will not: submit and have not submitted an Order to open or close a trade that contravenes any primary or secondary legislation or other law against insider dealing, market manipulation or market conduct. For the purposes of this provision, you agree that we may proceed on the basis that when you submit an Order or when you open or close a trade with us on a share price, you may be treated as dealing in securities within the meaning of Part V of the Criminal Justice Act 1993; submit an Order to us relating to a particular share price if to open the requested trade would result in you, or others with whom you are acting in concert together, having an exposure to that share price that is equal to or exceeds the amount of a declarable interest in the relevant company. For this purpose the level of a declarable interest will be the prevailing level at the material time, set by law or by the stock exchange(s) on which the underlying share is listed; submit an Order to open and that you have not opened a trade with us: 12

14 > in connection with a placing, issue, distribution or other analogous event; > in connection with an offer, take-over, merger or other analogous event; or > in which you are involved or otherwise interested; trade with us to deliberately transfer money from one account to another by attempting to match Orders or trades with another customer through collusion; submit any Order that is artificial or fictitious or place an Order that is designed to give the market a false or misleading impression as to the supply or demand, value or price of an Instrument; or act or engage in any conduct which is likely to damage the fairness, integrity, proper functioning or orderliness of the MTF. 9. CONTACT DETAILS If you have any questions on our service or relating to your account, you can: us at Call us on Our Client Services team is available for 24-hour support, Sunday Friday Please note telephone calls will be recorded and/or monitored. Write to us at: LMAX Yellow Building 1A Nicholas Road London W11 4AN 13

15 Website: address: Telephone: LMAX Limited operates a multilateral trading facility. LMAX Limited is authorised and regulated by the Financial Conduct Authority (firm registration number ) and is a company registered in England and Wales (number ). Our registered address is Yellow Building, 1A Nicholas Road, London, W11 4AN. 14

MT4 Trading Manual. Effective Date: 25 th February 2015

MT4 Trading Manual. Effective Date: 25 th February 2015 MT4 Trading Manual Effective Date: 25 th February 2015 MT4 Trading Manual This Trading Manual ( the Manual ) provides further information and worked examples on our trading services when using the MT4

More information

Trading Manual. Effective date: 07 July 2015

Trading Manual. Effective date: 07 July 2015 Trading Manual Effective date: 07 July 2015 LMAX Trading Manual Effective date: 07 July 2015 This Trading Manual ( the Manual ) provides further information and worked examples on our trading services.

More information

Trading Manual for Give up Trading Business. Effective Date: January 2014

Trading Manual for Give up Trading Business. Effective Date: January 2014 Trading Manual for Give up Trading Business Effective Date: January 2014 LMAX Trading Manual for Give up Business This Trading Manual ( the Manual ) provides further information and worked examples on

More information

API/MT4 Instrument Information Schedules. Effective Date: 15 th January 2015

API/MT4 Instrument Information Schedules. Effective Date: 15 th January 2015 API/MT4 Instrument Information Schedules Effective Date: 15 th January 2015 API/MT4 Instrument Information Schedules Schedule 1 Instrument Information Contracts for Differences Effective date: 15 January

More information

Margin FX and CFDs Product Disclosure Statement 26 June 2015

Margin FX and CFDs Product Disclosure Statement 26 June 2015 Margin FX and CFDs 26 June 2015 Issuer: Forex Capital Trading Pty Ltd AFSL No. 306400 and ABN 69 119 086 270 1 P a g e 1. Important Information 1.1 About this PDS This PDS is issued by Forex Capital Trading

More information

Margin FX and CFDs Product Disclosure Statement 26 April 2016

Margin FX and CFDs Product Disclosure Statement 26 April 2016 Margin FX and CFDs 26 April 2016 Issuer: Forex Capital Trading Pty Ltd AFSL No. 306400 and ABN 69 119 086 270 1 P a g e 1. Important Information 1.1 About this PDS This PDS is issued by Forex Capital Trading

More information

TERMS APPLICABLE TO CLIENTS WHO ENTER INTO SPOT CONTRACTS. 1. Scope

TERMS APPLICABLE TO CLIENTS WHO ENTER INTO SPOT CONTRACTS. 1. Scope TERMS APPLICABLE TERMS APPLICABLE TO CLIENTS WHO ENTER INTO SPOT CONTRACTS 1. Scope 2. Services 1.1 This Schedule supplements and amends the Terms of Business as expressly provided below. Defined terms

More information

WINDSOR BROKERS LTD Ref: 41460 TRADING MECHANISM FOR MINI & MICRO TRADING ACCOUNTS. Contents

WINDSOR BROKERS LTD Ref: 41460 TRADING MECHANISM FOR MINI & MICRO TRADING ACCOUNTS. Contents WINDSOR BROKERS LTD Ref: 41460 TRADING MECHANISM FOR & TRADING ACCOUNTS Contents 1 Purpose and Scope 2 Definitions and Interpretations 3 Financial Instruments offered for trading by the Company 4 Foreign

More information

Terms & Conditions of Business MAY 2015

Terms & Conditions of Business MAY 2015 [Type text] Terms & Conditions of Business MAY 2015 Table of Contents Contents INTRODUCTION... 3 ACKNOWLEDGEMENT... 3 SCOPE OF THE TERMS AND CONDITIONS OF BUSINESS... 3 INTERPRETATION OF TERMS... 4 ELECTRONIC

More information

CFD Trading Guide Instrument Information Section 2 May 2010

CFD Trading Guide Instrument Information Section 2 May 2010 CFD Trading Guide Instrument Information Section 2 May 2010 Contents 1 Financing and Margin...1 2 Shares...2 2.1 Trading Hours... 2 2.1.1 Normal Trading Hours...2 2.1.2 Extended Trading Hours...2 2.2 Placing

More information

CFD Disclosure Document Marketmaker TM (DD)

CFD Disclosure Document Marketmaker TM (DD) CMC Markets NZ Limited CFD Disclosure Document Marketmaker TM (DD) 9 March 2013 Company Registration Number 1705324 Table of contents Table of contents 01 Important information 5 1.1 About this DD 1.2

More information

AXITRADER PRODUCT SCHEDULE

AXITRADER PRODUCT SCHEDULE AxiCorp Limited FRN: 509746 www.axitrader.co.uk Tel: +44 207 096 7488 AXITRADER PRODUCT SCHEDULE IMPORTANT NOTICE This Product Schedule issued by AxiCorp Limited (AxiTrader) forms part of the Client Agreement

More information

Order Execution Policy

Order Execution Policy Order Execution Policy March 2015 Table of Contents 1. INTRODUCTION... 2 2. SCOPE AND SERVICES... 2 3. BEST EXECUTION... 7 4. EXECUTION VENUES... 10 5. MONITOR AND REVIEW... 11 6. CLIENT CONSENT... 11

More information

Trading Station II / MetaTrader 4 Product Guide 12 November 2012. Page 1 of 14

Trading Station II / MetaTrader 4 Product Guide 12 November 2012. Page 1 of 14 Trading Station II / MetaTrader 4 Product Guide 12 November 2012 Page 1 of 14 Notice This product summary should be read in conjunction with our Terms of Business. Whilst every effort has been made to

More information

GLOBAL CFD LIMITED CONTRACTS FOR DIFFERENCE TERMS OF BUSINESS

GLOBAL CFD LIMITED CONTRACTS FOR DIFFERENCE TERMS OF BUSINESS GLOBAL CFD LIMITED CONTRACTS FOR DIFFERENCE TERMS OF BUSINESS This Agreement, together with the Fees List, as amended from time to time, sets out the terms and conditions on which Global CFD Limited will

More information

Trading Station / MetaTrader 4 Product Guide 2 October 2015. Page 1 of 15

Trading Station / MetaTrader 4 Product Guide 2 October 2015. Page 1 of 15 Trading Station / MetaTrader 4 Product Guide 2 October 2015 Page 1 of 15 Notice This product summary should be read in conjunction with our Terms of Business. Whilst every effort has been made to ensure

More information

WGM Services Ltd Authorisation No: 203/13

WGM Services Ltd Authorisation No: 203/13 [Type text] WGM Services Ltd Authorisation No: 203/13 February 2015 Order Execution Policy Table of Contents 1.0 INTRODUCTION... 2 2.0 SCOPE AND SERVICES... 2 3.0 ORDER TYPE DEFINITIONS... 3 Buy Stop...

More information

Our authorisation and permission details can be found on the FCA website at www.fca.gov.uk.

Our authorisation and permission details can be found on the FCA website at www.fca.gov.uk. is authorised and regulated by the Financial Conduct Authority (FCA), FRN: 595450. We are also regulated under the Market in Financial Instruments Directive (MiFID) in regards to other offices within the

More information

PRODUCT DISCLOSURE STATEMENT

PRODUCT DISCLOSURE STATEMENT PRODUCT DISCLOSURE STATEMENT Margin FX Contracts and CFDs Issuer: Goldland Capital Group Pty Ltd ABN 76 162 331 311 Australian Financial Services Licence No. 436416 Date: 8 September 2015 Page 1 TABLE

More information

TRADING RULES ONLINE FX AND PRECIOUS METAL Effective August 10, 2015

TRADING RULES ONLINE FX AND PRECIOUS METAL Effective August 10, 2015 TRADING RULES ONLINE FX AND PRECIOUS METAL Effective August 10, 2015 PRODUCTS Contract Size EUR/USD EUR 100,000 USD/JPY USD 100,000 GBP/USD GBP 100,000 USD/CHF USD 100,000 AUD/USD AUD 100,000 NZD/USD NZD

More information

SATURN Trader SATURN TRADER USER GUIDE: CFD

SATURN Trader SATURN TRADER USER GUIDE: CFD SATURN Trader SATURN TRADER USER GUIDE: CFD Spread Co Ltd, Argyle House, Joel Street, Northwood Hills, London, HA6 1NW, United Kingdom Tel: (44) (0)1923 832 600 Fax: (44) (0)1923 845 308 E-mail: cs@spreadco.com

More information

CFD Trading Guide General Dealing & Administration Section 1 May 2010

CFD Trading Guide General Dealing & Administration Section 1 May 2010 CFD Trading Guide General Dealing & Administration Section 1 May 2010 Notice and Risk Warning Notice Whilst every effort has been made to ensure the accuracy of the other parts of this Trading Guide, the

More information

Risk Disclosure. Introduction. through Stofs.com falls under the CySEC licence.

Risk Disclosure. Introduction. through Stofs.com falls under the CySEC licence. Risk Disclosure Introduction AFX Capital and SuperTradingOnline (STO) are trading names of AFX Capital Markets Ltd. and AFX Markets Ltd. AFX Capital Markets Ltd. is authorised and regulated by the Cyprus

More information

PRODUCT DISCLOSURE STATEMENT FOR MARGIN FX & CONTRACTS FOR DIFFERENCE

PRODUCT DISCLOSURE STATEMENT FOR MARGIN FX & CONTRACTS FOR DIFFERENCE PRODUCT DISCLOSURE STATEMENT FOR MARGIN FX & CONTRACTS FOR DIFFERENCE This document provides important information about Margined Foreign Exchange and Contracts for Difference contracts to help you decide

More information

Section 1 Important Information... 2. Section 2 Regulatory Guide 227... 2. Section 3 Features... 3. Section 4 How to Trade... 8

Section 1 Important Information... 2. Section 2 Regulatory Guide 227... 2. Section 3 Features... 3. Section 4 How to Trade... 8 CONTENTS Section 1 Important Information... 2 Section 2 Regulatory Guide 227... 2 Section 3 Features... 3 Section 4 How to Trade... 8 Section 5 Significant Risks... 32 Section 6 Costs, Fees & Charges...

More information

MARGIN FOREIGN EXCHANGE AND FOREIGN EXCHANGE OPTIONS

MARGIN FOREIGN EXCHANGE AND FOREIGN EXCHANGE OPTIONS CLIENT SERVICE AGREEMENT Halifax New Zealand Limited Client Service Agreement Product Disclosure Statement for MARGIN FOREIGN EXCHANGE AND FOREIGN EXCHANGE OPTIONS Halifax New Zealand Limited Financial

More information

COMMISSIONS, CHARGES & MARGIN SCHEDULE

COMMISSIONS, CHARGES & MARGIN SCHEDULE COMMISSIONS, CHARGES & MARGIN SCHEDULE This schedule outlines the various commissions, charges, margins, interest, any other rates and important information that you should be aware of and/or are referred

More information

1.1 When we engage in CFD or Spot Forex trading with you, we do so on the basis of: - these terms, i.e. our CFD and Spot Forex Terms.

1.1 When we engage in CFD or Spot Forex trading with you, we do so on the basis of: - these terms, i.e. our CFD and Spot Forex Terms. CFD and Spot Forex Terms: Standard Credit Account 1. Structure 1.1 When we engage in CFD or Spot Forex trading with you, we do so on the basis of: - our General Terms; these terms, i.e. our CFD and Spot

More information

TRADING MECHANISM FOR DYNAMIC STP & DYNAMIC FIXED SPREAD TRADING ACCOUNTS Contents

TRADING MECHANISM FOR DYNAMIC STP & DYNAMIC FIXED SPREAD TRADING ACCOUNTS Contents WINDSOR BROKERS LTD Ref:42342 TRADING MECHANISM FOR DYNAMIC STP & DYNAMIC FIXED SPREAD TRADING ACCOUNTS Contents 1. Purpose and Scope 2. Definitions and Interpretations 3. Financial Instruments offered

More information

Product Disclosure Statement

Product Disclosure Statement Product Disclosure Statement Margin Foreign Exchange & CFD Trading TF Global Markets (Aust) Pty Ltd ACN 158 361 561 Address: Level 11 636 St. Kilda Road, Melbourne, VIC, Australia 3004 Website: www.thinkforex.com

More information

GAIN Capital UK Ltd ("City Index") trading as FX Solutions UK CUSTOMER AGREEMENT. Terms & Policies

GAIN Capital UK Ltd (City Index) trading as FX Solutions UK CUSTOMER AGREEMENT. Terms & Policies GAIN Capital UK Ltd ("City Index") trading as FX Solutions UK CUSTOMER AGREEMENT Terms & Policies For Individual Accounts, please complete sections I, II, V For Joint Accounts, please complete sections

More information

Leverate Financial Services Ltd (Regulated by the Cyprus Securities and Exchange Commission License no. 160/11) WARNING AND RISK DISCLOSURES

Leverate Financial Services Ltd (Regulated by the Cyprus Securities and Exchange Commission License no. 160/11) WARNING AND RISK DISCLOSURES Leverate Financial Services Ltd (Regulated by the Cyprus Securities and Exchange Commission License no. 160/11) WARNING AND RISK DISCLOSURES 2014 WARNINGS AND RISK DISCLOSURES The Site and brand name RoyalPip

More information

How do CFDs work? CFD trading is similar to traditional share dealing, with a few exceptions.

How do CFDs work? CFD trading is similar to traditional share dealing, with a few exceptions. What is a CFD? A CFD is an agreement to exchange the difference between the opening and closing prices of the share, index or commodity between the time at which a contract is opened and the time at which

More information

Straits Times Index.CFD.FAQs.

Straits Times Index.CFD.FAQs. Straits Times Index.CFD.FAQs. Co Registration No: 197501035Z CONTRACTS FOR DIFFERENCE (www.phillipcfd.com) U p d a t e d 6 O c t 2 009 Contract Details for Straits Times Index CFD Product Value of 1 Index

More information

DEALING HANDBOOK FOR FX TRADERS

DEALING HANDBOOK FOR FX TRADERS DEALING HANDBOOK FOR FX TRADERS ONLINE TRADING Trading on the QuestradeFX platforms is available 24hrs a day from 5pm ET Sundays through 5pm ET Fridays. Clients have the ability to execute trades directly

More information

GAIN Capital FOREX.com Australia Pty Limited EXECUTION POLICY for the Dealbook Suite of Platforms

GAIN Capital FOREX.com Australia Pty Limited EXECUTION POLICY for the Dealbook Suite of Platforms GAIN Capital FOREX.com Australia Pty Limited EXECUTION POLICY for the Dealbook Suite of Platforms 1) Introduction The Execution Policy should be read in conjunction with our Account Agreement or General

More information

Hargreaves Lansdown Spread Betting/ Hargreaves Lansdown CFDs Trade & Order Execution Policy

Hargreaves Lansdown Spread Betting/ Hargreaves Lansdown CFDs Trade & Order Execution Policy / Hargreaves Lansdown CFDs Trade & Order Execution Policy Effective from: 1st November 2007 www.hlmarkets.co.uk Telephone: 0117 988 9915 1 Trade & Order Execution Policy 1. Introduction This policy explains

More information

1 Introduction. 1.5 Leverage and Variable Multiplier Feature

1 Introduction. 1.5 Leverage and Variable Multiplier Feature Risk Disclosure BUX is a trading name of ayondo markets Limited. ayondo markets Limited is a company registered in England and Wales under register number 03148972. ayondo markets Limited is authorised

More information

Plus500CY Ltd. Order Execution Policy

Plus500CY Ltd. Order Execution Policy Plus500CY Ltd. Order Execution Policy Order Execution Policy This Order Execution Policy forms part of the Client Agreements as defined in the User Agreement. 1. CONDUCTING BUSINESS 1.1. We have a general

More information

1. HOW DOES FOREIGN EXCHANGE TRADING WORK?

1. HOW DOES FOREIGN EXCHANGE TRADING WORK? XV. Important additional information on forex transactions / risks associated with foreign exchange transactions (also in the context of forward exchange transactions) The following information is given

More information

1 Introduction. 1.5 Margin and Variable Margin Feature

1 Introduction. 1.5 Margin and Variable Margin Feature Risk Disclosure Spread Betting and CFDs are high risk investments. Your capital is at risk. Spread Betting and CFDs are not suitable for all investors and you should ensure that you understand the risks

More information

Plus500AU Pty Ltd. Product Disclosure Statement

Plus500AU Pty Ltd. Product Disclosure Statement Plus500AU Pty Ltd Product Disclosure Statement Product Disclosure Statement Our Contact Details Issuer: PLUS500AU Pty Ltd ACN 153 301 681 Address: Level 2, 19-21 Hunter Street Sydney NSW 2000 Australia

More information

CONTRACTS FOR DIFFERENCE

CONTRACTS FOR DIFFERENCE CLIENT SERVICE AGREEMENT Halifax New Zealand Limited Client Service Agreement Product Disclosure Statement for CONTRACTS FOR DIFFERENCE Halifax New Zealand Limited Financial Services Provider No. 146605

More information

TERMS AND CONDITIONS OF BUSINESS RELATING TO FOREIGN EXCHANGE and CONTRACTS FOR DIFFERENCES

TERMS AND CONDITIONS OF BUSINESS RELATING TO FOREIGN EXCHANGE and CONTRACTS FOR DIFFERENCES TERMS AND CONDITIONS OF BUSINESS RELATING TO FOREIGN EXCHANGE and CONTRACTS FOR DIFFERENCES 1 Introduction 1.1 These Terms and Conditions of Business (including the Schedules) ( Terms ) set out the basis

More information

Version :4.0 Date: April 2015 STO AFX Markets Ltd (FCA)

Version :4.0 Date: April 2015 STO AFX Markets Ltd (FCA) Risk Disclosure Version :4.0 Date: April 2015 STO AFX Markets Ltd (FCA) RISK DISCLOSURE AFX Markets Ltd. ( AFX, we, us, our ) trading as SuperTradingOnline (STO) is authorised and regulated by the Financial

More information

PRODUCT DISCLOSURE STATEMENT COMMSEC CFDS

PRODUCT DISCLOSURE STATEMENT COMMSEC CFDS PRODUCT DISCLOSURE STATEMENT COMMSEC CFDS We re here to help To find out more, call us on 1300 307 853, from 8am Monday to 6am Saturday, email us at cfds@commsec.com.au or visit our website at commsec.com.au.

More information

RISK DISCLOSURE. Version: 1.0. Date: April. 2014

RISK DISCLOSURE. Version: 1.0. Date: April. 2014 RISK DISCLOSURE Version: 1.0 Date: April. 2014 RISK DISCLOSURE. (, we, us, our ) is authorised and regulated by the New Zealand Financial Service Providers (NZFSP) under licence number 119/10 and registration

More information

PRODUCT DISCLOSURE STATEMENT

PRODUCT DISCLOSURE STATEMENT PRODUCT DISCLOSURE STATEMENT TABLE OF CONTENTS PRODUCT DISCLOSURE STATEMENT 1. INTRODUCTION 3 1.1 BACKGROUND 3 1.2 OUR CONTACT DETAILS 3 1.3 TRADING HOURS 3 1.4 OFFICE HOURS 3 1.5 ANTI MONEY LAUNDERING

More information

IWeb CFDs. Terms and Conditions

IWeb CFDs. Terms and Conditions IWeb CFDs Terms and Conditions Page 01 CFD Trading Terms & Conditions IWeb CFDs is a trading name of IWeb CFDs Limited who are authorised and regulated by The Financial Services Authority. These Terms

More information

Best Execution Policy

Best Execution Policy Black Pearl Securities Limited "the Firm" Best Execution Policy This Best Execution Policy is applicable to Matched Principle Broker (MPB) services provided to you by the Firm and it should be read in

More information

DMM FX CONTRACTS FOR DIFFERENCE PRODUCT DISCLOSURE STATEMENT

DMM FX CONTRACTS FOR DIFFERENCE PRODUCT DISCLOSURE STATEMENT DMM FX CONTRACTS FOR DIFFERENCE PRODUCT DISCLOSURE STATEMENT DMM FX Australia Pty Limited ACN 160 659 290 AFSL 437734 Issue Date: 7 November 2015 Version 2.0 Table of Contents Section 1 Important Information

More information

Terms of Business CFDs

Terms of Business CFDs Terms of Business CFDs Tel +44 (0)1923 832 600 Fax +44 (0)1923 845 308 E-Mail cs@spreadco.com Spread Co Ltd Argyle House Joel Street Northwood Hills London HA6 1NW United Kingdom United Kingdom Spread

More information

SuperTradingOnline Risk Disclosure. Version: 3.0 Date: May 2015 STO Cyprus

SuperTradingOnline Risk Disclosure. Version: 3.0 Date: May 2015 STO Cyprus SuperTradingOnline Risk Disclosure Version: 3.0 Date: May 2015 STO Cyprus RISK DISCLOSURE AFX Capital Markets Ltd. ( AFX, we, us, our ) trading as SuperTradingOnline (STO) is authorised and regulated by

More information

RISK DISCLOSURE NOTICE

RISK DISCLOSURE NOTICE RISK DISCLOSURE NOTICE www.walbrookcapitalmarkets.com Equities Futures Options FX CFDs Fixed Income SECTION 1 / INTRODUCTION This Risk Disclosure Notice has been produced by Walbrook Capital Markets Limited

More information

TRADING RULES. TRADING RULES (release 1.0/12.08.2015) 2

TRADING RULES. TRADING RULES (release 1.0/12.08.2015) 2 Sensus Capital c/o GBE Safepay Transactions Ltd. 171, Arch. Makariou III Avenue, 4th floor, Office N & O, 3027, Limassol, Cyprus Phone: +357 250 201 09 Fax: +357 250 288 79 Email: info@sensus-capital.com

More information

Product Disclosure Statement

Product Disclosure Statement INGOT BROKERS (AUSTRALIA) PTY LTD Product Disclosure Statement Margin FX, CFD s and Futures 18 th October 2015 Ingot Brokers Pty. Ltd. AFSL: 428015 ABN: 87 159 895 431 Level 25, 88 Phillip Street Sydney

More information

Spread Trading Terms of Business

Spread Trading Terms of Business Spread Trading Terms of Business Tel +44 (0)1923 832 600 Fax +44 (0)1923 845 308 E-Mail info@spreadco.com Spread Co Ltd Argyle House Joel Street Northwood Hills London HA6 1NW United Kingdom United Kingdom

More information

Macquarie Contracts for Difference

Macquarie Contracts for Difference Macquarie Contracts for Difference Product Disclosure Statement 15 JUNE 2015 Macquarie Bank Limited. ABN 46 008 583 542. Australian Financial Services Licence No. 237502. 1 This PDS This product disclosure

More information

Guide to Contracts for Difference (CFDs)

Guide to Contracts for Difference (CFDs) Guide to Contracts for Difference (CFDs) www.templetonsecurities.com What are CFDs? How do CFDs work? A CFD (Contract for Difference) is an arrangement made in a futures contract whereby differences in

More information

Part of the City Index Group Terms & Policies

Part of the City Index Group Terms & Policies Terms & Policies Part o General Terms and Conditions RISK NOTICE We provide services for trading foreign currency pairs, precious metals and derivative financial contracts. Trading is on a margined basis,

More information

Macquarie Shorting. Product Disclosure Statement 15 JUNE 2015

Macquarie Shorting. Product Disclosure Statement 15 JUNE 2015 Macquarie Shorting Product Disclosure Statement 15 JUNE 2015 Macquarie Bank Limited. ABN 46 008 583 542. Australian Financial Services Licence No. 237502. 1 This PDS This product disclosure statement (

More information

RISK DISCLOSURE AND WARNINGS NOTICE

RISK DISCLOSURE AND WARNINGS NOTICE RISK DISCLOSURE AND WARNINGS NOTICE Contents 1. Introduction... 3 2. Charges and Taxes... 3 3. Third Party Risks... 3 4. Insolvency... 3 5. Investor Compensation Fund... 4 6. Technical Risks... 4 7. Trading

More information

Guide to Contracts for Difference (CFDs)

Guide to Contracts for Difference (CFDs) Guide to Contracts for Difference (CFDs) www.templetonsecurities.com What are CFDs? A CFD (Contract for Difference) is an arrangement made in a futures contract whereby differences in settlement are made

More information

SPECIAL CONDITIONS FOR FINANCIAL CONTRACTS FOR DIFFERENCE ("CFD special conditions")

SPECIAL CONDITIONS FOR FINANCIAL CONTRACTS FOR DIFFERENCE (CFD special conditions) SPECIAL CONDITIONS FOR FINANCIAL CONTRACTS FOR DIFFERENCE ("CFD special conditions") 1. GENERAL RULES 1.01. These special conditions apply to the conclusion of financial contracts for difference (CFDs)

More information

Fenix FX Markets Client Agreement 28 th September 2015

Fenix FX Markets Client Agreement 28 th September 2015 Fenix FX Markets Client Agreement 28 th September 2015 Issued by Finsa Pty Limited (ACN 158065635) trading as Fenix FX Markets (AFSL no. 422661) 1 Important Notice This Client Agreement has been prepared

More information

MARGIN FOREIGN EXCHANGE & CONTRACTS FOR DIFFERENCE PRODUCT DISCLOSURE STATEMENT. AxiCorp Financial Services Pty Ltd ACN 127 606 348 AFSL 318232

MARGIN FOREIGN EXCHANGE & CONTRACTS FOR DIFFERENCE PRODUCT DISCLOSURE STATEMENT. AxiCorp Financial Services Pty Ltd ACN 127 606 348 AFSL 318232 MARGIN FOREIGN EXCHANGE & CONTRACTS FOR DIFFERENCE PRODUCT DISCLOSURE STATEMENT AxiCorp Financial Services Pty Ltd ACN 127 606 348 AFSL 318232 CONTENTS 1. IMPORTANT INFORMATION... 3 2. APPLYING TO TRADE

More information

CFD & FOREX TRADING RULES

CFD & FOREX TRADING RULES CFD & FOREX TRADING RULES WHS TRADING RULES Version: JAN. 2016 WH SELFINVEST Est. 1998 Luxembourg, France, Belgium, Switzerland, Germany, Netherlands Copyright 2007-2016 all rights attached to this guide

More information

Content. Executive Summary. What is a CFD? Who are the participants? Advantages of trading CFDs. Features and benefits of CFDs. Reasons for using CFDs

Content. Executive Summary. What is a CFD? Who are the participants? Advantages of trading CFDs. Features and benefits of CFDs. Reasons for using CFDs Corporate Retail Contracts and Investment for Difference Banking Content Executive Summary What is a CFD? Who are the participants? Advantages of trading CFDs Features and benefits of CFDs Reasons for

More information

Non-Complex Products. Complex Products. General risks of trading

Non-Complex Products. Complex Products. General risks of trading We offer a wide range of investments, each with their own risks and rewards. The following information provides you with a general description of the nature and risks of the investments that you can trade

More information

General Forex Glossary

General Forex Glossary General Forex Glossary A ADR American Depository Receipt Arbitrage The simultaneous buying and selling of a security at two different prices in two different markets, with the aim of creating profits without

More information

Order Execution Policy

Order Execution Policy Order Execution Policy Introduction Colmex Pro Ltd (hereinafter called the Company ) is an Investment Firm regulated by the Cyprus Securities and Exchange Commission (license number 123/10). Following

More information

FAQs. About spread betting

FAQs. About spread betting Please note that the following are designed to simply answer general questions and are not to be considered as the Terms and Conditions of City Index Limited. Should there be any conflict between the following

More information

CONTRACTS FOR DIFFERENCE

CONTRACTS FOR DIFFERENCE CONTRACTS FOR DIFFERENCE Cornhill Capital helps private client investors realise significant value in an innovative trading environment. Cornhill Capital Limited is a leading independent investment company

More information

Sensus Capital Markets Ltd. Block 10, Flat 1 Ghar il- Lembi Sliema, Malta Phone: +356 277 811 20 Fax: +356 277 811 21 Email: info@sensus-capital.

Sensus Capital Markets Ltd. Block 10, Flat 1 Ghar il- Lembi Sliema, Malta Phone: +356 277 811 20 Fax: +356 277 811 21 Email: info@sensus-capital. Sensus Capital Markets Ltd. Block 10, Flat 1 Ghar il- Lembi Sliema, Malta Phone: +356 277 811 20 Fax: +356 277 811 21 Email: info@sensus-capital.com TRADING RULES Sensus Trading Rules / release 1.6. /

More information

L2 Forex Direct. Introduction. Functionality and Features

L2 Forex Direct. Introduction. Functionality and Features L2 Forex Direct 01 L2 Trading Manual Introduction is a professional-level dealing service exclusively for IG s Institutional and high volume professional FX clients. is available on the L2 platform, but

More information

CMC Markets Singapore Pte. Ltd. Company Registration Number / UEN: 200605050E. 19 October 2011

CMC Markets Singapore Pte. Ltd. Company Registration Number / UEN: 200605050E. 19 October 2011 Product Disclosure Statement CMC Markets Singapore Pte. Ltd. Company Registration Number / UEN: 200605050E 19 October 2011 Purpose of this Product Disclosure Statement (PDS) This PDS is dated 19 October

More information

Risk Disclosure For Contracts For Difference & Non-Deliverable Forwards

Risk Disclosure For Contracts For Difference & Non-Deliverable Forwards Risk Disclosure For Contracts For Difference & Non-Deliverable Forwards FX Central Clearing (FXCC) Amorosa Centre, 2nd floor 2 Samou Street 4043 Yermasoyia, Limassol, Cyprus Tel: +357 25 870 750, Fax:

More information

CMC MARKETS UK PLC. Risk Warning Notice for CFDs. February 2014. Registered in England. Company No. 02448409

CMC MARKETS UK PLC. Risk Warning Notice for CFDs. February 2014. Registered in England. Company No. 02448409 CMC MARKETS UK PLC Risk Warning Notice for CFDs February 2014 Registered in England. Company No. 02448409 Authorised and regulated by the Financial Conduct Authority. Registration No. 173730 CMC Markets

More information

Plus500AU Pty Ltd. Product Disclosure Statement

Plus500AU Pty Ltd. Product Disclosure Statement Plus500AU Pty Ltd Product Disclosure Statement Product Disclosure Statement Our Contact Details Issuer: PLUS500AU Pty Ltd ACN 153 301 681 Address: Level 19, 1 O Connell Street Sydney NSW 2000 Australia

More information

Client Acknowledgement. Risk Warning Notice for CFDs

Client Acknowledgement. Risk Warning Notice for CFDs Please read this document fully. IMPORTANT NOTICE Client Acknowledgement Clients (including account applicants) of CMC Markets Singapore Pte. Ltd. ( CMC Markets ) should be aware of the risks involved

More information

Forex Managed PAMM Account Information Brochure

Forex Managed PAMM Account Information Brochure Forex Managed PAMM Account Information Brochure This document is issued by Stargate Capital Management Limited which is authorised and regulated in the United Kingdom by the Financial Conduct Authority

More information

BUSINESS TERMS FOR SECURITIES TRADING

BUSINESS TERMS FOR SECURITIES TRADING BUSINESS TERMS FOR SECURITIES TRADING Standard Bank s Terms of Business, Online Terms and other product or platform specific conditions also govern the relationship between the Client and Standard Bank.

More information

FX TRADING GUIDE 05/2004 Authorised and regulated by the Financial Services Authority, members of the NFA USA, and regulated by ASIC in Australia

FX TRADING GUIDE 05/2004 Authorised and regulated by the Financial Services Authority, members of the NFA USA, and regulated by ASIC in Australia FX TRADING GUIDE 05/2004 Authorised and regulated by the Financial Services Authority, members of the NFA USA, and regulated by ASIC in Australia Copyright 2004 CMC Group Plc, 66 Prescot Street, London,

More information

CFD Disclosure Document - Next Generation Platform (DD)

CFD Disclosure Document - Next Generation Platform (DD) CMC Markets NZ Limited CFD Disclosure Document - Next Generation Platform (DD) 28 July 2013 Company Registration Number 1705324 Table of contents Table of contents 1 Important information 6 1.1 About this

More information

A guide to CFDs. Contracts for difference. For more information please contact us on 0117 988 9915 or visit our website www.hlmarkets.co.

A guide to CFDs. Contracts for difference. For more information please contact us on 0117 988 9915 or visit our website www.hlmarkets.co. A guide to CFDs Contracts for difference For more information please contact us on 0117 988 9915 or visit our website www.hlmarkets.co.uk One College Square South, Anchor Road, Bristol, BS1 5HL www.hl.co.uk

More information

AAFX CONTRACTS FOR DIFFERENCES PRODUCT DISCLOSURE STATEMENT

AAFX CONTRACTS FOR DIFFERENCES PRODUCT DISCLOSURE STATEMENT AAFX CONTRACTS FOR DIFFERENCES PRODUCT DISCLOSURE STATEMENT Issue Date: 7 August 2012 AYERS Alliance Securities Pty Limited ABN 81 149 475 105 AFSL 403070 AAFX_27417-10760-CFD PDS 1 Table of Contents Section

More information

Contracts for Difference (CFDs)

Contracts for Difference (CFDs) Contract for Difference (CFDs) and FCA Disclosure Requirements What are Contract for Difference (CFDs) CFDs (also known as Synthetic Equity Swaps (SES)) are Over the Counter (OTC) transactions which allow

More information

Order Execution Policy Summary for CFDs

Order Execution Policy Summary for CFDs CMC MARKETS UK PLC Order Execution Policy Summary for CFDs October 2012 Registered in England. Company No. 02448409 Authorised and regulated by the Financial Services Authority. Registration No. 173730

More information

Important matters for Securities CFD

Important matters for Securities CFD Provisional Translation for Reference Purpose Only Risk Disclosure for Securities CFD Transaction (This document is given by Interactive Brokers Securities Japan, Inc. in accordance with the regulation

More information

Joint Account Application Form

Joint Account Application Form Joint Account Application Form Effective Date: 10 August 2015 APPLICATION INSTRUCTIONS Please note that as well as your verification documentation all Joint Account Applications MUST be accompanied by

More information

Forex Currency Trading Conditions Overview for Colmex Pro MT4 Users

Forex Currency Trading Conditions Overview for Colmex Pro MT4 Users Forex Currency Trading Conditions Overview for Colmex Pro MT4 Users Colmex Pro high-speed execution and advanced trading environment puts all the right tools at your disposal enabling you to take advantage

More information

HF Markets Europe Ltd. RISKS ASSOCIATED WITH TRANSACTIONS IN DERIVATIVE FINANCIAL INSTRUMENTS (CFDS)

HF Markets Europe Ltd. RISKS ASSOCIATED WITH TRANSACTIONS IN DERIVATIVE FINANCIAL INSTRUMENTS (CFDS) HF Markets Europe Ltd. RISKS ASSOCIATED WITH TRANSACTIONS IN DERIVATIVE FINANCIAL INSTRUMENTS (CFDS) May 2014 Risks associated with transactions in Derivative Financial Instruments (CFDs) WARNING: It is

More information

FX OPTION EQUITY & MARGIN

FX OPTION EQUITY & MARGIN FX OPTION EQUITY & MARGIN Trading FX options with GFT introduces some important considerations for the measures of Total/Available Equity and Margin. Unlike other forms of spot forex and CFD trades that

More information

4. ANNEXURE 3 : PART 3 - FOREIGN EXCHANGE POSITION RISK

4. ANNEXURE 3 : PART 3 - FOREIGN EXCHANGE POSITION RISK Annexure 3 (PRR) - Part 3, Clause 18 - Foreign Exchange Position Risk Amount 4 ANNEXURE 3 : PART 3 - FOREIGN EXCHANGE POSITION RISK (a) CLAUSE 18 - FOREIGN EXCHANGE POSITION RISK AMOUNT (i) Rule PART 3

More information

CAPITAL INDEX PTY LTD Product Disclosure Statement (PDS) 20 th April 2015

CAPITAL INDEX PTY LTD Product Disclosure Statement (PDS) 20 th April 2015 CAPITAL INDEX PTY LTD Product Disclosure Statement (PDS) 20 th April 2015 Issued by Capital Index Pty Limited (ACN 602584887) as an Authorised Representative of Finsa Pty Limited (AFSL no. 422661) Page

More information

TD 365 Product Disclosure Statement (PDS) 28 th September 2015

TD 365 Product Disclosure Statement (PDS) 28 th September 2015 TD 365 Product Disclosure Statement (PDS) 28 th September 2015 Issued by Finsa Pty Limited (ACN 158065635) trading as TD 365, Australian financial services licence no. 422661 Page 1 of 65 Table of Contents

More information

Terms for Provision of Forex Trading Services and Use of MetaTrader4 AM UK Trading Platform

Terms for Provision of Forex Trading Services and Use of MetaTrader4 AM UK Trading Platform Terms for Provision of Forex Trading Services and Use of MetaTrader4 AM UK Trading Platform Contents Terms for Provision of Forex Trading Services and Use of MetaTrader4 AM UK Trading Platform... 1 1.

More information

Terms of Business Contents

Terms of Business Contents Terms of Business Contents These Terms of Business apply from 1st October 2013 1.Risk Warning 22. Financing 2. Introduction 23. Dividends 3. General 24. Out of Hours Markets 4. Definitions 25. Corporate

More information

ebridge Online Trading Facility

ebridge Online Trading Facility Futures Contracts For Difference Product disclosure Statement ebridge Online Trading Facility Issuer: StoneBridge Securities Limited ABN 92 067 161 755 Australian Financial Services Licence No. 238148

More information

Terms and Conditions for Stop Orders and Trailing Stop Orders. Stockbrokers

Terms and Conditions for Stop Orders and Trailing Stop Orders. Stockbrokers Terms and Conditions for Stop Orders and Trailing Stop Orders Stockbrokers These terms and conditions relate to Stop Orders and Trailing Stop Orders. You should read and understand these before using the

More information