Conditions

1. Transaction
   1. Client / Authorized person or Account Representative should clearly state order details (e.g. buy or sell, the number of lot(s), new or liquidation order), and provide accurate personal information including the Account Number, Identity Card Number and/or corresponding A.E. number if order is dealt with an authorized Account Executive. The Company will make a final confirmation for the deal.
   2. Cancellation of executed order(s) is not permitted except acquiring the Company’s consent and confirmation; however, the Company reserves the right to cancel the order(s) when Client / Authorized person or Account Representative fails to provide sufficient information accordingly.
   3. New open position will be deemed while client does not state “Liquidation” type (incl. Limit/Stop Order).
   4. Client shall solely take responsibility for any profit loss resulted from price fluctuation beyond the Company’s trading hours.
   5. Market Order:
      1. If Client instructs to deal as new order(s), however, on insufficient margin, the Company will execute such deal by liquidation with opposite open position(s) of same product(s) on “last in, first out” basis till required margin level may be satisfied. Thereafter, for any non-executed order(s) on insufficient margin, the Company will execute them in accordance with clause 2(i) of the Rule.
      2. If Client instructs to deal as liquidation transaction, however, on invalid opposite open position(s) of same product(s), the Company will execute such deal with other open position(s) of same product(s) on “last in, first out” basis till residual opposite open position(s) are all squared. Thereafter, for any non-executed order(s) on sufficient margin, they will be treated as new open position(s). In case of failure to fulfill margin requirement, the Company will execute them in accordance with clause 2(i) of the Rule.
   6. Limit / Stop Order(s):
      1. Divided into 2 types by validity:
         1. Day close of each trade day; or
         2. Day close of the last trade day of a week (maximum not exceed 5 days).
      2. Limit / Stop order may be placed during the Company’s trading hours only.
      3. Price of Limit /Stop order requested by Client should be at below scaled minimum distance away from the prevailing market price at placing moment.
         1. Majors: 40 pips
         2. The Company reserves the rights to change immediately the difference between Limit / Stop order price and prevailing market price should there be a rapid change in market condition, and reserves the rights to stop receiving, amending or cancelling any Limit / Stop order within half-hour before or after the announcement of economic indicators.
      4. The Limit / Stop order will be executed once the prices placed are reached during the Company’s trading hours, except any false prices. In addition, if the market price is over or below the price placed due to market open after weekend &/or holiday, the Company will execute such Limit / Stop order by the market opening price(s) instead of the original price of the Limit / Stop order. Client shall take sole responsibility for any profit or loss incurred.
      5. Client cannot refuse to accept, with any reasons (e.g. Client forgets to cancel Limit / Stop order after position(s) are squared), the executed Limit / Stop orders whenever the price(s) placed have been reached during the Company’s trading hours.
      6. For deal on insufficient margin for new open position, the Company will execute such order(s) in accordance with clause 1(v)(a) of the Rule.
      7. If Client instructs to deal as liquidation transaction, however, on invalid opposite open position(s) of same product(s), the Company will execute such order(s) in accordance with clause 1(v)(b) of the Rule.
      8. The maximum lot(s) placed on Limit/Stop order(s) for each unique price will be equivalent to the maximum of Limit per Dealing Quote.
2. Margin Requirement and Forced Liquidation
   1. If the Client trades on insufficient margin (including Limit / Stop Order(s)), transaction has to be executed partially according to effective margin only, for transaction lot(s) with insufficient margin, the Company will have an absolute discretion to square the position newly opened by Minimum Spread (a specified spread on the execution price or the market price can be used in special situation) at the moment. The Client irrevocable accepts that in carrying out such act and be responsible for all losses aroused and leave all profits to the Company;
   2. For account(s) involving in overnight margin shortfall or/& reaching cut-loss point during the trade day, the Company will execute forced liquidation on “last in, first out” basis in same product (1st : locked-position, 2nd : odd opened-position) till required margin can be satisfied.
   3. When the overnight, weekend & before long holiday(s) margin of the open position(s) falls below required margin level, the Company will execute forced liquidation in accordance with clause 2(i) by closing prices on the latest trade till required margin level may be fulfilled.
   4. During the trade day, when account’s equity falls below cut-loss point owing to market fluctuation, the Company has an absolute discretion to execute forced liquidation in accordance with clause 2(i) of the Rule.
   5. For any shortfall margin or over-loss resulted from the opening price after market break-time, the Company has an absolute discretion to execute forced liquidation with day opening price(s) to satisfy the margin requirement in accordance with clause 2(i) of the Rule. Client shall be responsible for any over-loss of the account caused.
   6. If Client holds the overnight locked position to next trade day with insufficient margin caused from interest or/& margin requirement’s increasing, the Company has an absolute discretion to execute forced liquidation pair by pair on “last in, first out” sequence until required margin level can be maintained.

3. Fund Deposit and Withdrawal
   1. Margin withdrawal will be accepted from 9:00am to 4:00pm from Monday to Friday (please refer to Deposit & Withdrawal).
   2. Client may withdraw available balance after deducting the amount of margin requirement for open and locked position(s) in corresponding account(s);
   3. If margin deposit is made by cheque, bank transfer or telegraphic transfer, new order(s) or dismissing locked position(s) could only be made upon receiving confirmation from customer services department.
4. Interest Chargeable and Payable
   1. Interest chargeable or payable for open positions standing on the Client’s account will be based on the prevailing rate(s) on the market and / or banks, which will also be displayed on online trading platform daily statement or the website.
   2. Interest chargeable or payable for overnight open positions of the Client’s account will be calculated with contract opening price, related interest rate and contract size for major currencies.
   3. The Company will not pay interest for Client(s)’ margin on their accounts.
5. Delivery of Account Statement
   1. Client’s statement will be delivered in the following 3 ways:
      1. By email to designated address; or
      2. By post to designated address; or
      3. By fax to designated number.

N.B.:

1. US dollar is used as the major settlement currency.
2. Margin value relating to Major Currencies is subject to the prevailing floating exchange rate of such currency v.s. US dollar.
3. The Company’s online trading platform is based on Greenwich Mean Time +3 (GMT+3).
4. The Company reserves all rights to change the trading terms.