Trading Rules
Order quotation and fulfillment in a quiet market
In a quiet market FIBO Group client can buy or sell a currency pair at a price which is showen on the MetaTrader trading platform. Spread
on the major currencies and main crosses is 2 pips and 7 pips for GBPCHF and GBPJPY cross rates. Orders are fulfilled in strict conformity
with the price stated in the order, irrespective of the order type.
Order quotation and fulfillment in a highly volatile market
Rapid changes normally occur in the market after release of important macroeconomic parameters, economic or political news of in case of
force majeure events. In this case, spread may be slightly widened, and a dealer has the right to reject the order or change the price
and to suggest that a transaction should be entered into at a new price but orders are fulfilled in strict conformity with stated prices.
A dealer has the right to reject a Stop-order or order modification 3 minutes before the important macroeconomic parameters, economic or
political news of in case of force majeure events.
CHARTS CONSTRUCTION
Charts in MetaTrader 4.0 are constructed in the following way:
High (maximum price) - by BID price
Low (minimum price) - by BID price.
Order fulfillment when the market opens with a break off or if a break off occurs during the day.
If the market opens with a break off or if a break off occurs during the day (this normally happens after weekend or holidays, upon release of important macroeconomic
data, economic and political news as well as in case of force majeure events), orders are fulfilled as follows:
- Take Profit (T/P) orders are fulfilled at stated prices;
- Stop Loss (S/L) orders are fulfilled at stated prices;
- Buy Limit & Sell Limit orders are fulfilled at stated prices;
- Buy Stop & Sell Stop orders are fulfilled at the first prices in the market.
- Stop Loss (S/L) orders on lock positions are executed at the first market price touch.
Even though such situation is not frequent, please be cautious in leaving positions or orders for weekend and holidays.
Please note that dealers do not make any decisions on disputable issues in connection with order fulfillment or any other disputable trade-related issues. So if
you disagree with a dealer on any trade-related issue please call at the Customer Relations Department or write a letter
to service@fibogroup.com during one day. If more than two days pass after entering into a transaction such claims will not
be reviewed.
"Freeze Level"
The size of Freeze Level is equal to 2 pips in FIBO Group, Ltd.
Freeze Level sets fixed interval in pips from the activation prices of pending orders and Take Profit and Stop Loss. If a market price gets in such an interval,
then this order is freezed and the client cannot modify, delete or close it. This limitation helps to protect the company from the client's modification or rejection
of his request at the same moment as the broker is processing this order.
Levels of Order's placing
The minimum level of placing orders in normal condition is equal to the spread of trading currency. 10 minutes before the end of trading or 10 minutes before
release of important macroeconomic parameters, economic or political news given level for Orders Stop Loss can be widened up to 10 spread. *
MARGIN REQUIMENTS
If at any point of time the Equity (current balance including open positions) is equal or less than 20% of the margin occupied by open positions, a dealer has the
right to close one or all open positions at his discretion to meet margin requirements.
ATTENTION! Margin requirements increase from 0.5% to 1% on weekend and holidays (i.e. the maximum leveradge for that time becomes equal to 100:1).
By the end of trading, the Customer must bring its open position in conformity with increased margin requirements. Otherwise, the company is free to reduce the
Customer’s position on its own, at the prices existing as of the end of trading. In this case, the company will choose which of the Customer’s positions
to reduce or to close.
* Present rule applies to the opening of market Orders with preset Stop Loss, if S/L falls into the range 10 spread. Such Orders will be declined automatically.
The programme Metatrader 4 doesn't allow to modify separately Stop Loss and Take Profit Orders, that is why an attempt to modify Take Profit with preset Stop Loss,
if S/L falls into the range 10 spread, will be blocked automatically.
