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Client Trading Agreement

Royalfx

  1. INTRODUCTION

1.1. This Agreement determines the processing and execution of the Client’s trade orders.

1.2. This Agreement defines:

  1. THE PRINCIPLES OF OPENING / CLOSING, PLACING, CHANGING, DELETING AND EXECUTING ORDERS;
  2. ACTIONS OF THE COMPANY IN CASE OF INSUFFICIENT MARGIN LEVEL IN THE CLIENT’S ACCOUNT TO MAINTAIN OPEN POSITIONS;
  3. PROCEDURE FOR THE SETTLEMENT OF DISPUTES BETWEEN THE CLIENT AND THE COMPANY;
  4. METHODS OF EXCHANGING INFORMATION BETWEEN THE CLIENT AND THE COMPANY.
  1. GENERAL PROVISIONS

2.1. The procedure for processing trade orders issued through the client terminal goes through the following steps:

  1. THE CLIENT ISSUES AN ORDER, WHICH IS BEING CHECKED FOR CORRECTNESS IN THE CLIENT TERMINAL;
  2. THE CLIENT TERMINAL SENDS THE ORDER TO THE SERVER;
  3. IF THERE IS A STABLE INTERNET CONNECTION BETWEEN THE CLIENT TERMINAL AND THE SERVER, THE CLIENT’S ORDER IS SENT TO THE SERVER AND CHECKED FOR CORRECTNESS;
  4. THE CLIENT’S ORDER, RECOGNIZED AS CORRECT, IS PLACED IN THE QUEUE AND SORTED BY TIME (THE FIRST ORDER IN THE QUEUE WILL BE THE FIRST TO BE PROCESSED). IN THE “ORDER” WINDOW OF THE CLIENT TERMINAL, THE CURRENT PROCESSING STATUS OF THE ORDER “ORDER IS ACCEPTED” IS DISPLAYED. THE COMPANY IS NOT RESPONSIBLE FOR THE DELAY IN THE EXECUTION OF ORDERS OF ANY TYPE UNDER ABNORMAL MARKET CONDITIONS;
  5. WHEN READY, THE COMPANY ACCEPTS THE FIRST ORDER IN THE QUEUE AND PROCEEDS WITH ITS PROCESSING. IN THE “ORDER” WINDOW OF THE CLIENT TERMINAL, THE CURRENT PROCESSING STATUS OF THE ORDER “ORDER IS IN PROCESS” IS DISPLAYED;
  6. THE RESULT OF PROCESSING BY THE COMPANY OF A CLIENT’S ORDER IS SENT TO THE SERVER;
  7. THE SERVER SENDS THE RESULT OF THE COMPANY’S PROCESSING OF THE CLIENT’S ORDER TO THE CLIENT TERMINAL;
  8. IF THERE IS A STABLE INTERNET CONNECTION BETWEEN THE CLIENT TERMINAL AND THE SERVER, THE CLIENT TERMINAL RECEIVES THE RESULT OF PROCESSING THE ORDER FROM THE COMPANY.

2.2. The client can cancel the sent order only if it has the status “Order is accepted”. To cancel, the Client must click the “Cancel order” button.

2.3. The Client does not have the right to cancel the sent order if it has already been received by the Company and has the status “Order is in process”.

2.4. A Client’s Order to open a position can be executed at a price that differs from the quote that the Client received in the client terminal during the last market snapshot in the following cases: a) if the current quote has changed since the last market snapshot; b) if the quotation from the last s market snapshot is applicable to a smaller volume of a trade operation than the volume of a client’s trade operation.

2.5. The time for executing a client’s order by the Company depends on the quality of the Internet connection between the client terminal and the server, as well as on market conditions.

2.6. The waiting time for each client order placed in the queue for processing is limited to 3 (three) minutes. If during this time the order was not received by the Company, then it is considered irrelevant and is automatically deleted.

2.7. In abnormal market conditions, the Company has the right to refuse to execute any orders.

2.8. The company has the right to reject the Client’s order, and the message “Off quotes”, “Not enough money” or “Trade is disabled” appears in the client terminal:

  1. AT THE TIME OF OPENING TRADING ON THE MARKET, IF THE CLIENT SENDS AN ORDER BEFORE THE FIRST QUOTATION IS AVAILABLE AT THE TRADING PLATFORM;
  2. IF THE FREE MARGIN OF THE CLIENT IS LESS THAN THE INITIAL MARGIN;
  3. WHEN THE NUMBER OF ORDERS ISSUED BY THE CUSTOMER EXCEEDS THE NUMBER OF TRANSACTIONS PERFORMED;
  4. DUE TO EXCEEDING EXISTING RESTRICTIONS ON THE VOLUME OF THE TOTAL CUSTOMER POSITION AND / OR THE TOTAL NUMBER OF PLACED ORDERS FOR THIS TYPE OF ACCOUNT;
  5. IF THE COMPANY FAILED TO HEDGE A TRANSACTION WITH THE HELP OF THE LIQUIDITY PROVIDER;
  6. UNDER ABNORMAL MARKET CONDITIONS; OR
  7. IN ANY OTHER CASE, AT THE SOLE DISCRETION OF THE COMPANY.

2.9. Determining the level of current market prices is the sole competence of the Company.

2.10. The opening of a trade operation to buy occurs at the price of ASK. Closing a trading operation for a purchase (i.e., sale) occurs at a BID price.

2.11. Opening a trade operation for sale (sell) occurs at the price of BID. Closing a trading operation for sale (i.e., purchase) occurs at the price of ASK.

2.12. The transfer of open positions onto the next day starts at 23:59:45 server time and is mandatory for all positions that remain open from 23:59:45 to 23:59:59 server time. Positions are transferred to the next day by charging the trading account or crediting to the Client’s trading account the amount calculated in accordance with the information on the website of the Company.

2.13. The spread is not fixed and varies depending on market conditions, as well as on streaming prices / liquidity received by the Company from liquidity providers.

2.14. In case of an unplanned interruption in the flow of quotes, the Company reserves the right to synchronize the quotation base on the server with other sources. In the event of a dispute caused by an interruption in the flow of quotes, all decisions are made in accordance with the synchronized quotation base.

2.15. The company has the right to transfer inactive trading accounts to the archive. The Client’s inactive trading account is transferred from the base of the trading terminal to the archive database, as a result of which the Client is blocked from access and cannot conduct any operations on the account, while the entire history and balance of the account are saved.

2.16. The client can restore the trading account transferred to the archive by submitting a corresponding request. The restoration of the trading account is carried out by the Company within 3 (three) business days from the date of receiving the application for the restoration of the trading account from the archive. After the restoration of the trading account, the Company shall notify the Client in writing about this.

2.17. A dividend adjustment may be applied to open CFDs on shares. It applies if such positions remained open on the Client’s account at the end of the trading session on the business day preceding the dividend payment day.

2.18. A company may recognize a quotation as non-market in the following cases:

  1. THERE IS A SIGNIFICANT PRICE GAP IN THE QUOTE STREAM;AFTER THE PRICE GAP APPEARS, THE PRICE RETURNS TO ITS ORIGINAL LEVEL IN A SHORT PERIOD OF TIME;
  2. THERE IS NO SHARP PRICE MOVEMENT BEFORE AND AFTER THE OCCURRENCE OF NON-MARKET QUOTES.
  1. MARGIN REQUIREMENTS

3.1. The Company has the right to change the leverage of the Trading Account with the immediate entry into force of these changes and without prior notice. Leverage can be changed:

  1. IN ABNORMAL MARKET CONDITIONS;
  2. IN THE EVENT OF AN EMERGENCY;
  3. IN CASE OF FORCE MAJEURE OR OTHER FORCE MAJEURE CIRCUMSTANCES.

3.2. The company has the right to apply new margin requirements in accordance with the previous paragraph both in relation to already open positions and in relation to newly opened positions.

3.3. The company has the right to change the leverage of individual customers at any time and at its own discretion with prior notification of the client by mail.

3.4. The Client undertakes to deposit and maintain the initial margin and (or) hedged margin in the amount established by the Company and indicated on the website of the Company.

3.5. Margin not nominated in the account currency will be converted into account currency at the current market price.

3.6. The company has the right to change the size of the margin:

  1. FOR ALL CLIENTS WITH PRIOR WRITTEN NOTICE;
  2. INDIVIDUALLY TO ANY CLIENT WITH PRIOR WRITTEN NOTICE;
  3. INDIVIDUALLY TO THE CLIENT IN CASE OF EMERGENCY WITHOUT PRIOR NOTICE;
  4. TO ALL CLIENTS IN THE EVENT OF FORCE MAJEURE CIRCUMSTANCES WITHOUT PRIOR NOTICE.

3.7. The company has the right to apply the provisions of the previous paragraph both in relation to already opened positions and in relation to newly opened positions.

3.8. The client is obliged to independently monitor the level of margin on his trading account.

  1. OPENING ORDERS

4.1. When opening an order, it is necessary for the Client to indicate the name of the trading instrument and the volume of the order.

4.2. To open a position, the Client in the client terminal must click the “Buy” button or the “Sell” button at the moment when the Company prices suit him.

4.3. Upon receipt of the Client’s order to open a position on the server, the Trading Account is checked for free margin.

4.4. If the trading account does not have enough funds to open an order, the Client’s order is rejected with the message “Not enough money”.

4.5. All actions of the Client to open positions are stored in the log file of the Company’s trading server.

  1. CLOSING POSITION

5.1. When closing an order, it is necessary for the Client to indicate the name of the trading instrument and the volume of the order.

5.2. To open a position, the Client in the client terminal must click the Close button at the moment when the Company prices suit him.

5.3. If during the processing of the Client’s order by the Company the quotation for the instrument has changed, the Company has the right to offer a new price (requote). If the Client agrees to close the order at the new proposed price, then he must press the “Ok” button in the client terminal within 3 seconds while the quote remains relevant. If during this time the Client does not accept the new price (does not click “Ok”), this means refusal to close the order.

5.4. All actions of the Client to close positions are stored in the log file of the Company’s trading server.

  1. PENDED ORDERS

6.1. Types of pending orders:

  1. BUY LIMIT. A PURCHASE ORDER AT A PRICE LOWER THAN THE CURRENT ONE;
  2. SELL LIMIT. A SELL ORDER AT A PRICE HIGHER THAN THE CURRENT ONE;
  3. BUY STOP. PURCHASE ORDER AT A PRICE HIGHER THAN THE CURRENT ONE;
  4. SELL STOP. A SELL ORDER AT A PRICE LOWER THAN THE CURRENT ONE;
  5. BUY STOP LIMIT. PLACEMENT OF A BUY LIMIT ORDER WHEN THE ASK PRICE REACHES THE LEVEL SPECIFIED IN THE ORDER;
  6. SELL STOP LIMIT. PLACEMENT OF A SELL LIMIT ORDER WHEN THE PRICE REACHES THE BID LEVEL SPECIFIED IN THE ORDER;
  7. STOP LOSS. DESIGNED TO LIMIT LOSSES. AN ORDER IS CLOSED AT A PRICE LESS FAVORABLE TO THE CLIENT RELATIVE TO THE CURRENT MARKET PRICE.
  8. TAKE PROFIT. DESIGNED FOR PROFIT TAKING. CLOSING TAKES PLACE AT A PRICE THAT IS MORE FAVORABLE FOR THE CLIENT RELATIVE TO THE CURRENT MARKET PRICE.

6.2. The client may place, modify or delete orders only during the trading hours of the relevant instrument. The trading schedule for each instrument is indicated on the website of the Company, as well as in the client terminal.

6.3. When placing a pending order, the Client must specify the required parameters: name of the trading instrument, type of pending order, volume and order execution price. The client also has the right to specify additional parameters: Stop Loss and Take Profit levels and the date and time of expiration of the pending order.

6.4. An order to place a pending order will be rejected by the Company if either of the required parameters is not specified, or if any of the parameters is incorrect. At the same time, the Client will see a “Invalid S/L or T/P” error message in the terminal.

6.5. An order to place a pending order will be rejected by the Company if the order is received from the Client before the market opens.

6.6. When submitting an order, the difference between the level of the pending order and the current market price must be greater than or equal to the minimum value in points (Limit & Stop Level). Limit & Stop Level values ​​are indicated on the Company website. A company may increase its Limit & Stop Level during news releases that significantly affect market volatility, or in other conditions of an abnormal market.

6.7. If the Client submits an order to modify a pending order, he needs to indicate the ticket of the pending order, the level of the pending order, Stop Loss and Take Profit values.

6.8. An order to modify a pending order will be rejected if one of the above parameters is set incorrectly.

6.9. When a Client submits an Order to delete a pending order, the Client must indicate his ticket.

6.10. All actions of the Client to place pending orders are stored in the log file of the Company’s trading server.

6.11. An order is queued for execution in the following cases:

  1. A BUY LIMIT ORDER IS PLACED IN THE QUEUE FOR EXECUTION IF THE CURRENT ASK PRICE REACHES THE LEVEL OF THE ORDER;
  2. A SELL LIMIT ORDER IS PLACED IN THE EXECUTION QUEUE IF THE CURRENT BID PRICE REACHES THE ORDER LEVEL;
  3. A BUY STOP ORDER IS PLACED IN THE EXECUTION QUEUE IF THE CURRENT ASK PRICE REACHES THE ORDER LEVEL;
  4. A SELL STOP ORDER IS PLACED IN THE EXECUTION QUEUE IF THE CURRENT BID PRICE REACHES THE ORDER LEVEL;
  5. A TAKE PROFIT ORDER FOR AN OPEN BUY POSITION IS PLACED IN THE EXECUTION QUEUE IF THE CURRENT BID PRICE REACHES THE ORDER LEVEL;
  6. A TAKE PROFIT ORDER FOR AN OPEN SELL POSITION (SELL) IS PLACED IN THE EXECUTION QUEUE IF THE CURRENT ASK PRICE REACHES THE ORDER LEVEL;
  7. A STOP LOSS ORDER FOR AN OPEN BUY POSITION (BUY) IS PLACED IN THE EXECUTION QUEUE IF THE CURRENT BID PRICE REACHES THE ORDER LEVEL;
  8. A STOP LOSS ORDER FOR AN OPEN SELL POSITION (SELL) IS PLACED IN THE EXECUTION QUEUE IF THE CURRENT ASK PRICE REACHES THE ORDER LEVEL;
  9. IN CASES WHERE BOTH THE LEVEL OF A PENDING ORDER AND THE LEVEL OF THE CORRESPONDING STOP LOSS OR TAKE PROFIT ORDER FALL INTO THE PRICE GAP, THE COMPANY HAS THE RIGHT TO IMMEDIATELY OPEN AND CLOSE A POSITION AT THE FIRST AVAILABLE PRICES OF THE SAME QUOTE.

6.12. All pending orders are queued for execution in the form of market orders and executed at an affordable market price.

6.13. Upon receipt of an order to execute a pending order on the server, the Trading Account is checked for free margin.

6.14. If the trading account does not contain enough funds to execute a pending order, the Company has the right not to open a position and delete the pending order with the entry “No money”.

6.15. If the level of a pending order or Stop Loss and Take Profit orders falls into the price gap, the orders are executed by the Company at the stated price or at the price available at the time of execution of the order. Execution price may differ from the order level.

6.16. An order to close a position will be rejected by the Company if it was received at the time when Stop Loss or Take Profit orders for this position were in the execution queue. In this case, the message “Off Quotes” appears in the client terminal.

  1. FORCED CLOSURE OF POSITIONS

7.1. The Company has the right to forcibly close open positions of the Client without his consent and prior notice if the ratio of funds to margin on the Client’s trading account becomes equal to or falls below the Stop Out level.

7.2. Stop Out levels are listed on the Company’s website.

7.3. Under abnormal market conditions, the Company does not guarantee the closure of open orders at the levels indicated on the Company’s website.

7.4. In the event that the Client has several open positions on the trading account, the position with the largest floating loss is placed first in the line for forced closure.

7.5. In the event that the forced closure of orders led to the formation of a negative balance in the Client’s trading account, he is fully responsible for this loss. The Company is entitled to compensate for this loss at the expense of funds held in other accounts of the Client.

7.6. The company has the right every Friday one hour before the close of the trading session or at any other time, at its sole discretion, to make changes to the Stop Out levels and Margin requirements. The Company has the right to extend the validity of the above changes by providing the Client with a corresponding preliminary written notice.

7.7. If the Company changes the list of trading instruments, it has the right to forcefully close positions and delete pending orders for instruments that the Company ceases to provide. A position is closed at the last available price.

7.8. The Company has the right to close any open positions of the Client without prior notice, if necessary to resolve disputes.

  1. INFORMATION EXCHANGE

8.1. For communication with the Client, the Company has the right to use the phone, e-mail, internal mail of the trading terminal, the website of the Company.

8.2 For communication with the Client, the Company will use the contact details provided by the Client when registering a personal account. Customer agrees to receive messages from the Company at any time.

8.3. Any information (news, announcements, documents, notifications, confirmations, reports, etc.) is considered received by the Client:

  1. IMMEDIATELY AFTER THE COMPLETION OF THE TELEPHONE CONVERSATION;
  2. IMMEDIATELY AFTER SENDING BY INTERNAL MAIL TO THE TRADING TERMINAL;
  3. ONE HOUR AFTER SENDING TO HIS EMAIL ADDRESS (E-MAIL);
  4. ONE HOUR AFTER THE ANNOUNCEMENT ON THE WEBSITE OF THE COMPANY.

8.4. The Client is obliged to promptly and as soon as possible notify the Company of any changes to his contact information.