1. GENERAL PROVISIONS

1.1 Client has the right to submit orders in a particular instrument only during the time of trading session specified for this instrument. The time of trading session for each instrument is specified in "Contract Specifications" section of the Company's website.

1.2 Client has the right to transmit the following orders: to open position, to close position, to place pending order, to modify or to delete pending order.

1.3 Client’s orders to open position, to close position, to place pending order, to modify or to delete pending order should be made through Client’s terminal.

1.4 The time of processing the Client’s orders is not a fixed parameter as it depends on the market conditions and the speed of order execution on the side of the Company’s partners.

1.5 For those types of accounts, spread for which is specified in comparison table of account types on the Company’s website as "floating", spread specified in the contract specifications, is not fixed and depends on the market condition.

1.6 Transactions to buy should be made at Ask price. Transactions to sell should be made at Bid price.

1.7 Long positions should be opened at Ask price and closed at Bid price. Short positions should be opened at Bid price and closed at Ask price.

1.8 Execution mode is market execution of the Client’s orders for all type of accounts.

1.9 When opening a position, the Client should deposit a Margin, the value of which depends on leverage available to Client or on the trading instrument, in which this position is opened.

1.10 If there are any locked positions on the Client’s trading account, the Client should have a enough hedged margin which size is set forth on the client terminal in instrument specification.

1.11 During the last hour before the closing of trading session, for instruments that aren't allowed for trading during weekend or holidays, the Company has the right to refuse to execute the Client’s orders, if the total resulting volume of all open positions (in the currency of trading account) becomes 100 times higher than the Equity on the Client’s account.

1.12 During the last hour prior to weekend or holidays, the Company has the right to reduce the account leverage to 1:100 for accounts with leverage higher than 1:100. The Client bears full responsibility for having enough Margin at the moment when the leverage is reduced. The account leverage, which was valid before the reduction, will be restored within several hours after the fact of reduction.

1.13 The Company has the right to change the leverage of the trading account in case the open position on this account does not comply with the leverage requirements:
  (a) In case the Equity is equal or less than $500, the admissible leverage is 1:2000
  (b) In case the Equity is from $501 to $5,000, the admissible leverage is 1:1000;
  (c) In case the Equity is from $5,001 to $10,000, the admissible leverage is 1:500;
  (d) In case the Equity is from $10,001 to $50,000, the admissible leverage is 1:300;
  (e) In case the Equity is from $50,001 to $100,000, the admissible leverage is 1:200;
  (f) In case the Equity is from $100,001 to $2,000,000, the admissible leverage is 1:100;
  * During high-impact news and before weekends and holidays, maximum leverage is capped at 1:200 for currency pairs and gold.
  ** Subject to change without prior notice

1.14 The Company bears no responsibility for the Client’s having enough Margin to maintain his open positions at the moment when the Client’s account leverage is changed.

1.15 In case of transferring open positions to the next day, storage (swap) is charged. It can be either positive or negative. Storage (swap) value for each instrument is specified in contract specification.

1.16 If the Client has a Swap-Free account, swaps will not be credited/debited. In these cases the Client is charged a fixed commission for transiting positions over midnight. A complete commission table is available on the Company’s website, "Swap-Free Accounts" section.

1.17 In situations when there is a significant reduction of liquidity, the Company has the right to forbid trading for some instrument or several instruments or make the trading allowed in "Close Only" mode.

1.18 Specific leverage restrictions may apply on certain instruments. Trading Pro may, in its sole discretion, amend the margin requirements, on a case by case basis, on all or any transactions(s) of the Client, by providing the Client, where reasonable, without notice.

2. OPENING/CLOSING POSITIONS

2.1 In an order to open position, Client should specify the name of instrument and the amount of transaction. In an order to close position, Client should specify the order number.

2.2 When an order to open a position is received, trading account will be checked for available assets Free Margin. In case the initial margin and/or hedged margin for a position to be opened exceeds free margin in trading account, Client will get a denial with comment "No money".

2.3 After receiving a client’s order, the server enqueues it for processing. When an order is enqueued, Client is acknowledged about it by message "Order is accepted" in the client terminal. When an order is waiting for executing in a queue, Client has the right to cancel it.

2.4 Just when an order leaves a queue for executing, Client is acknowledged by message from server "Order is in process". Client cannot cancel the order in case it has been accepted for execution.

2.5 When processing Client’s order in Market Execution, execution of Client’s order will be made at the current price at the moment of order execution.

2.6 All Clients’ orders are registered in the server’s log-file by making appropriate records.

2.7 A Client’s order to open position is considered to be executed and a position is considered to be opened after an appropriate record has been made in the server’s log-file.

2.8 A Client’s order to close position is considered to be executed, and a position is considered to be closed after an appropriate record has been made in the server’s log-file.

2.9 A Client’s order to close position will be declined in case at the moment of its receipt the position is under Stop Loss or Take Profit execution. At that, Client receives message "Off quotes".

3. PENDING ORDERS

3.1 Client has the right to place the following pending orders:
  (a) Buy Stop – an order to open long position at the market price, when the future Ask price reaches the specified value. This type of order is placed higher than the current Ask price;
  (b) Sell Stop – an order to open short position at the market price, when the future Bid price reaches the specified value. This type of order is placed lower than the current Bid price;
  (c) Buy Limit – an order to open long position at the price, which is not worse than the price specified in the order. This type of order is placed lower than the current Ask price;
  (d) Sell Limit – an order to open short position at the price, which is not worse than the price specified in the order. This type of order is placed higher than the current Bid price;
  (e) Stop Loss – an order to close position at the market price, when the future price reaches the specified value. This order is intended to minimize losses in case the price of financial instrument starts moving towards loss. Such an order is always associated with open position or pending order. Bid price is used to check condition of this order for long position, and Ask price – for short positions;
  (f) Take Profit is an order to close position at the price not worse than the specified value. This type of order is intended for taking profit when the financial instrument price hits the expected level. When the order is executed, the position is closed. It is always associated with open position or pending order. Bid price is used to check condition of this order for long position and Ask price – for short positions.

3.2 Client has the right to attach the orders Stop Loss and/or Take Profit to the orders Buy Stop, Sell Stop, Buy Limit and Sell Limit. After pending order triggering, its Stop Loss and Take Profit orders will be automatically attached to an open position.

3.3 Stop Loss and Take Profit shall be executed only for an open position and shall not be executed for any pending orders.

4. PLACING PENDING ORDERS

4.1 In a direction to place pending order, Client should specify the following:
  (a) Compulsory parameters: instrument, volume, order type (Buy Stop, Sell Stop, Buy Limit, Sell Limit), price level;
  (b) Optional parameters: Take Profit price level, Stop Loss price level, Expiration time of pending order.

4.2 A pending order will be denied in case of wrong input of compulsory or optional parameters.

4.3 The Company has the right to refuse the Client’s request to place a pending order, if the equity on the Client’s trading account is less than the margin required for the execution of the order.

4.4 A pending order will be denied in case a price level in the order does not comply with condition "Limit & Stop Levels".

4.5 Condition "Limit & Stop Levels" assumes that pending order cannot be placed closer than within a minimal number of points against current price. The values of "Limit & Stop Levels" for each instrument are specified in the Contract Specifications.

4.6 The Client’s direction to place an order is assumed to be executed and an order is assumed to be placed after an appropriate record is made in the server’s log-file.

5. MODIFICATION AND DELETION OF PENDING ORDERS

5.1 To modify the order Buy Stop, Sell Stop, Buy Limit and Sell Limit, Client should specify price level, Take Profit value and Stop Loss value.

5.2 To modify Take Profit and/or Stop Loss attached to open position, Client should specify Take Profit value and/or Stop Loss value.

5.3 In case a pending order has been accepted for execution, it cannot be modified or deleted.

5.4 To delete Take Profit and Stop Loss, it is necessary to specify zero price value for these orders.

5.5 A direction to modify or to delete an order is assumed to be executed, and an ordered is assumed to be modified or deleted after an appropriate record has been made in the server’s log-file.

6. EXECUTION OF ORDERS

6.1 Buy Stop order will be enqueued for execution in case current quote Ask has become equal or higher than order level.

6.2 Sell Stop order will be enqueued for execution in case current quote Bid has become lower than order level.

6.3 Buy Limit order will be enqueued for execution in case current quote Ask has become equal or lower than order level.

6.4 Sell Limit order will be enqueued for execution in case current quote Bid has become equal or higher than order level.

6.5 Take Profit order associated with open long position will be enqueued for execution in case current quote Bid has become equal or higher than order level.

6.6 Stop Loss order associated with open long positions will be enqued for execution in case current quote Bid has become equal or lower than order level.

6.7 Take Profit order associated with open short position will be enqueued for execution in case current quote Ask has become equal or lower than order level.

6.8 Stop Loss order associated with short position will be enqueued for execution in case current quote Ask has become equal or higher than order level.

6.9 At the moment of execution of Buy Stop, Sell Stop, Buy Limit and Sell Limit orders, checking of Client’s account for available Free Margin takes place. In case there is not enough Free Margin for position open, the order will be deleted with comment "No money".

6.10 Buy Stop, Sell Stop, Stop Loss orders will be executed at the price at the moment of order execution. Buy Limit, Sell Limit and Take Profit orders will be filled either at the exact price client set or a more favorable price in the direction of client’s trade.

6.11 Buy Stop and Sell Stop Orders with associated Take Profit orders shall be cancelled in case of a price gap, the first quote after which is a trigger for execution of stop order and Take Profit set for this Order.

6.12 Pending order is considered to be executed after an appropriate record in server’s Log file has been made.

7. COMPULSORY POSITION CLOSE

7.1 In case Margin Level on Client’s trading account becomes equal or lower than Stop Out value, the Company has the right to close all open positions on the Client’s trading account compulsory at the current market price without any preliminary notification and Client’s consent. Stop Out values for each of account types are specified in comparison table of account types on the Company’s website.

7.2 Compulsory close of positions takes place in automatic regime and is followed by an appropriate record in server’s log-file.

7.3 In some cases, open positions can be closed compulsory with obligatory notification of Client within one working day in case Margin Level in Client’s trading account has decreased below Margin Call value.

TERMS AND INTERPRETATION

• Amount of transaction – product of number of lots and lots volume.
• Ask – price Client pays when buying
• Balance – total financial result of all complete finished transactions and operations of depositing/withdrawing assets in transaction account.
• Bar/Candlestick is an element of the chart, which includes opening and closing prices, as well as maximum and minimum prices per fixed period of time chosen by the Client. In MetaTrader4 and MetaTrader5 trading terminals, bars and candlesticks are displayed at the level of Bid price.
• Bid – price Client pays when selling.
• Chart – Chart is a tool for illustrating the price movement in graphics per fixed period of time with the help of bars/candlesticks or lines. In MetaTrader4 and MetaTrader5 trading terminals, prices are displayed at the level of Bid price.
• Client – individual or legal entity responsible for conversion arbitrage transactions with financial instruments on the Company’s server.
• Client’s terminal – software facility used by Client to direct orders to make transactions.
• Company – a legal entity responsible for performance of services to the Company on managing conversion arbitrage transactions under financial instruments
• Complete finished transaction – transaction, which consists of two opposite related transactions of similar volume.
• Contract specification – transaction terms (contract size, spread, initial margin, Limit & Stop Level, etc.) for each instrument.
• Conversion arbitrage transaction – deal for buy or sell of contract for financial instruments. It assumes making two deals for buy and sell of the contracts of similar volume.
• Demo trading account is the Client’s trading account with deposited funds, which have no cash equivalent value.
• Direction – direction of Client to open position, to close position, to place pending order, to modify or to delete pending order.
• Equity – current value of assets, which can be determined using the formula: Equity = Balance + Floating Profit - Floating Loss.
• Floating Profit – unrealized profit at open positions under the current rate values.
• Free Margin – free equity in transaction account, which can be used to open a new position.
• Free Margin – Equity - Margin.
• Instruments – currency pairs, CFDs, and metals available for conducting trading transactions in compliance with specification of contracts presented on the Company’s website.
• Hedged margin is a guarantee requested by the dealer for opening and maintaining locked positions.
• Leverage – ratio of margin amount and amount of transaction. Leverage 1:100 means that in order to make a transaction, it is necessary to have in your account an amount that is 100 times less than the amount of transaction.
• Limit & Stop Levels – minimal distance in points between the level of placed pending order and the current price.
• Line Chart is a type of chart, which includes a series of closing prices per fixed period of time with the current price. In MetaTrader4 and MetaTrader5 trading terminals, lines are displayed at the level of Bid price.
• Locked positions - long and short positions of the same size that are open on the same instrument with the same trading account.
• Long position (Long) – position opened by Client in anticipation of instrument price increase
• Lot is a unit to measure the amount of the deal.
• Margin – cash security to support open positions.
• Margin Level – ratio of Equity and Margin presented in percent, i.e., Margin Level = (Equity/Margin)*100.
• Margin trading – making deals using leverage.
• Market Execution – this mode assumes that your order will be executed using not the price you see on the screen, but the price, which exists at the market at the moment of order execution. This price can be either better or worse than the one the Client saw at the chart when pushing "Buy" or "Sell" button.
• Members Area – an own private section at the Company’s website used by the Client to make transactions to withdraw and deposit funds from/to the trading account, as well as to receive information about his trading accounts.
• Non-market quotation – quotation, which satisfies the following conditions: existence of serious price gap and fast return of the price to the precedent level.
• Pending order – order to open or to close position in the future at specified price. This order is used to open transaction positions at the condition of parity of future quotation and specified level.
• Price gap (Gap) – price range, within which there was no quotations.
• Promotional benefit – any compensations, deposits, commissions, rebates, special conditions, etc. that were provided by the Company to the client in the framework of permanent promotional programs, one-time promo programs, individual agreements, affiliate agreements, etc.
• Quotation – instrument price figured in Ask or Bid price
• Real trading account is the Client’s trading account with deposited funds, which have cash equivalent value.
• Server – set of software and hardware facilities, which are applied by the Company for processing transactions conducted by the Client in the trading account.
• Server log-file – file created by transaction server, which records all incoming Client’s orders and the results of their execution.
• Server – set of software and hardware facilities, which are applied by the Company for processing transactions conducted by the Client in the trading account.
• Short position (Short) – position opened by Client in anticipation of instrument price decrease.
• Spread – difference between Ask and Bid quotation figured in points.
• Stop Out – order to compulsory position close generated by server.
• Swap – charge for transferring open position to the next day. It can be positive and negative. In the Wednesday to Thursday night, the charge is threefold. Swap value for different platforms may differ
• System of automatic depositing onto account – set of software and hardware facilities, which make it possible to the Client to process depositing onto the account independently of Company’s employees.
• Trading account – special Client’s account opened at the Company’s server to maintain the Client Agreement, the Terms of Business and the Risk Disclosure
• Trading account currency – currency to estimate profit or loss in trading account, and to withdraw and deposit from/to trading account.
• Trading transaction – transaction to buy or to sell a financial instrument.
• Trading volume is the total number of transactions performed on the Client’s account in terms of lots and absolute units.
• Phone +44 20 3289 4388