|Local London Gold / USD
||100 Troy ounce
||0.1 = USD10
|Local London Sliver / USD
||5,000 Troy ounce
||0.01 = USD50
|Kilo Gold / USD
||0.01 = USD50
|99 Tael Gold / HKD
||1 = HKD100
|Kilo Gold / HKD
||0.01 = HKD50
|9999 Tael Gold / HKD
||1 = HKD100
|Platinum / USD
||50 Troy ounce
||0.1 = USD5
|Palladium / USD
||100 Troy ounce
||0.1 = USD10
|The Company is entitled to the market situation follow changes in market conditions to adjust margin requirements and trading spread.
- The spread amount is not guarantee and can be changed if market moves rapidly (such as large currency interventions). The company has the right to adjust spreads without prior notice to the Client.
- Margin Requirement can be changed and increase according to market fluctuation. Client agrees to deposit by immediate wire transfer such additional margin when and as required by the Company.
- Open an New Account
Client must comply with all terms and conditions set out in opening documents.
- Transaction Currency
All account operations shall be accounted in U.S. dollars calculations. US Dollar is the basis of calculation for all transactions and contracts in the trading account and displays in client‘s statement and ledger. Hong Kong dollars can also be used as settlement currency, we will convert the US Dollar into Hong Kong Dollar at US$1.00 to HK$7.80 and calculate all transactions and contracts in the trading account and displays in client‘s statement and ledger is Hong Kong dollars.
- Platform Time
The time shown on SGMT4 trading system is set to Greenwich Mean Time (GMT) +3 hours (Summer), which is 5 hours behind Hong Kong time (GMT +8). Therefore, bear in mind that to add 5 hours to match with Hong Kong Time. Greenwich Mean Time (GMT) +2 hours (Winter) which is 6 hours behind Hong Kong time (GMT +8). Therefore, bear in mind that to add 6 hours to match with Hong Kong Time. Make sure you have the correct time.
- Margin Requirement
Intraday margin requirement 100% margin requirement per lot.
Overnight margin requirement 70% margin requirement per lot.
Hedged margin requirement 50% margin requirement per lot (each pair of locked lots: a pair of buy and a sell order)
- Overnight Interest
a. Mon till Fri Local London Gold , Local London Sliver , 99 Tael Gold, 9999Tael Gold, Kilo Gold at Hong Kong Time 4:00 am (Greenwich Mean Time GMT 20:00 Summer), Hong Kong Time 5:00 am (Greenwich Mean Time GMT 21:00 Winter) market close.
b. The Interest Earned or Paid for Each Unliquidated Contract (Wednesday.) The executed price times the unit of contract is the interest earned or paid for each unliquidated contract. (Local London Gold , Local London Sliver, Kilo Gold / USD three days interest will be charged/credited on un-squared trades and positions on Wednesday.) The interest earned or paid for each unliquidated contract follows the prevailing bank rate and market rate; it will be announced in the website. According to international spot gold and silver trading practice, contracts are to be settled on the second working day after the trade date. One day interest will be charged / credited on contracts traded on Monday, Tuesday, Thursday and Friday not squared on the same day. Three days interest will be charged / credited on un-squared trades and positions on Wednesday.
c. The Interest Earned or Paid for Each Unliquidated Contract (Friday)
99 Tael Gold , 9999 Tael Gold, Kilo Gold / HKD three days interest will be charged/credited on un-squared trades and positions on Friday, which are calculated on the basis of the interest rate published by the CGSE or the company is entitled to the market situation follow changes in market conditions to adjust interest rate and will be announced in the website.
d. No interest will be payable on the margin deposit placed into the trading accounts.
- Settlement on Lack of Maintenance Margin
When the maintenance margin ratio is below 30%, the all open positions will be closed automatically or to hedged (locked) all of the open positions by Internet trading platform against the current market rate. The company does not guarantee to settle all open contracts against the current market rate in volatile market conditions which may cause a debit balance in the client‘s account; Consequently, Clients will be responsible for any resulting losses after contract settlement.
- Overnight Position
a. All accounts with overnight positions. When the account balance is no longer able to cover the minimum margin requirement of 70% per lot, and the client failed to deposit a variation margin later than the time as the company prescribe,（at Hong Kong Time 4:00 am (Greenwich Mean Time GMT 20:00 Summer), Hong Kong Time 5:00 am (Greenwich Mean Time GMT 21:00 Winter) market close. The company shall have the right to hedged (locked) automatically all of the client‘s open positions with intraday closing price to limit the client’s risk.
b. New Balance = Cash Balance + Realized Profit/Loss - Commission Floating P&L = the Profit or Loss of open positions in the account calculated by the current evaluation price of the market
Equity = A/C Balance + Floating P&L
- Maintenance Margin Level
It is the customer‘s responsibility to monitor and maintain his/her margin account balances at all times. The company will not be responsible for any profits and loss due to price change whether during trading hours or non-trading hours.
a. Withdrawal Arrangement
Clients may submit a request to withdraw their fund via written notice or fax or trading platform or email. The request should be sent to us before 1:00p.m.. If you direct us to make a withdrawal after 1:00p.m., we may initiate the payment on the following banking day. Upon receipt of a payment order from the client, the account balance shall be reduced by the amount of funds being withdrawn on the date of such receipt during normal business hours.
b. The company will only accept account holder withdrawal.Third party payments are not permitted except transfer funds between the client‘s existing the company‘s trading accounts (bank account holder name should be in accordance with the name on trading account).For protection of client‘s interest, online withdrawal request will not be applicable to Joint Account.Joint Account client must download withdrawal form, completed, sign jointly and return the withdrawal form to us.(Time of remittance may vary between banks due to banking operation. We shall not be responsible for the amount of time required to transfer funds. All handling charge / bank charges of remittance will be deducted from remittance amount.)
c. The Client has the right to withdraw from his account unencumbered funds (that is, funds not used for satisfying margin requirement) without closing the account. This withdrawal must not put the balance of the account below minimum security deposit level. When the account balance is no longer able to cover the minimum margin requirement per lot due to the market change and wide price fluctuation, the company has the right to cancel the intraday withdrawal application of the client.
d. Close account, withdrawal requests and corresponding correction of the account shall only be processed in the absence of open positions.
- Order Type ﹣Market order
a. A market order is an order to buy or sell a specific commodity, which is to be filled immediately at the current exchange rate quoted on the screen. It is important to note that during extremely fast market conditions, it is possible for a trader to get requote. This means that when prices are moving rapidly, the price quoted on the screen may have already changed by the time the order is processed. Under no circumstances will a market order be filled at a price which the client has not approved. The Internet trading platform allows for a maximum of 10 contracts per dealing quote. (Remarks: The company reserves the rights to change this trading limit, it is effective immediately.)
b. Executed orders can not be cancelled, modified or withdrawn. The client cannot cancel that trade from his/her account after the trade confirmation of our staff. Additionally, if a client executed a trade at a price which at the time the trade was executed was wrong and/or delayed from the actual market price, the company may cancel that trade from the Client‘s account. The company will not accept trading with insufficient margin (include phone dealing), placing order with insufficient margin will be cancelled immediately.
- Phone Transaction
To provide clients with the convenience to trade when internet is inaccessible to them, we have set up a dealing hotline. In the event of computer failure and internet trading is temporarily suspended, using our phone dealing service will not incur any charges. During normal computer operations and network connections, The Company do not recommend clients placing orders via phone dealing, and in such circumstances trading via phone dealing may be charged a few pips higher than trading via the internet trading platform.
- Order Type ﹣Limit Orders
A limit order can be used to lock in gains on a positive position. Limit Order is an order that is executed at the moment market price touches the client‘s specified price. Because they will not be executed unless they reach your desired price, limit orders may or may not get executed. The price of the entry order and the current price shall not differ less than 25 point. Otherwise limit orders not get executed. Limit order refers to the possibility to target a price above or below the current market price for a new order. Buy Limit: buy below the current market price. Sell Limit: sell above the current market price. Market‘s volatility may cause market price moving over 1 pip at one single movement. For example, if you want to buy at 20 when the market price is 19, market price may jump from 19 to 30. Order will be executed at 30 since the market does not accept price below the current market price. However, selling order will be executed at 20 as the market will accept a selling price above the current market price. Since the market accept buying price higher than the prevailing market price. Under normal market conditions (excluding wrong price), we do our best to provide execution at the trader‘s specified price. Trading with insufficient margin, placing order (neither new order nor close order) with insufficient margin will be cancelled immediately. The company reserves the rights to adjust the pips between limit prices and market price due to the rapid change in price caused by the market, and the client should have no objection.
- Order Type ﹣Stop Loss Order
The price of the entry stop loss order and the current price in the associated stop loss order shall not differ less than for 25 points. Otherwise limit orders not get executed. Limit orders and stop orders can be used to both buy and sell contracts. It is important to note that, by convention, "buy limit" and "sell stop" orders are entered in below the current market price. "Sell limit" and "buy stop" orders are entered in above the current market price. Buy Stop: buy above the current market price. Sell Stop: sell below the current market price. The market price may exceed more than 1 pip in one single movement. If your stop loss price is set at 10, market price may drop directly from 11 to 05. Since the Market cannot accept selling price higher than the prevailing market price, the system will stop loss at 05 instead of 10. For profit taking order, the contract will be executed at 10, because this price is higher than the market price. However, sell limit will be executed at 10 as the market will accept a selling price above the current market price. Under normal market conditions (excluding wrong price), we do our best to provide execution at the trader‘s specified price. Trading with insufficient margin, placing order (neither new order nor close order) with insufficient margin will be cancelled immediately. The company reserves the rights to adjust the pips between stop loss prices and market price due to the rapid change in price caused by the market.
- Order Type ﹣One Cancels the Other Order (“OCO”)
The price of the One Cancels the Other Order and the current price in the associated One Cancels the Other Order shall not differ less than for 25 points. Otherwise limit orders not get executed. An OCO order consists of two separate "Buy" or "Sell" instructions. It cannot contain a "Buy" and a "Sell". A contingent order providing that one part of the order is cancelled if the other part is executed. This is a particularly useful order type in that it allows traders to execute specific trading strategies based on technical analysis - without having to watch the market tick by tick. Under normal market conditions (excluding wrong price), we do our best to provide execution at the trader‘s specified price. The company reserves the rights to adjust the pips between One Cancels the Other Order prices and market price due to the rapid change in price caused by the market.
- Order Cancellation / Temporarily Stop to Accept a Limit Orders
Before 1 hour of significant major economic announcements or under extraordinarily volatile market conditions new order placement of Stop / Limit orders and One Cancels the Other Order will be not be accepted and all existing of Stop / Limit orders and One Cancels the Other Order will be automatically cancelled if not executed It is obvious that during, or immediately preceding, significant major economic announcements, market volatility is greatly increased as a consequence. The company has the right of temporarily stop to accept all new limit order placement and cancelled all existing limit orders if not executed.
- Order Cancellation
Non-market Orders may be cancelled via the Internet trading platform. (Order Cancellation, including Limit Orders, Stop/Loss Orders, One Cancels the Other Orders, are accepted by the company .) Rapid changes in Bid Prices and Ask Prices, however, may cause Customer‘s Order to be executed before Customer can cancel it.
- Order Expiration
All limit orders will be automatically cancelled if not executed till to last trading day of the week (GTF) at Hong Kong Time 4:00 am (Greenwich Mean Time GMT 20:00 Summer), Hong Kong Time 5:00 am (Greenwich Mean Time GMT 21:00 Winter) “that means unmatched / unconcealed / unexecuted order will remain in the system until the last trading day of the week market close of the day “Good till Friday ”(GTF) be automatically cancelled .
- Quoting Errors
Should a quoting error occur due to a mistype of a quote or a misquote given by telephone and/or electronic means (including responses to Customer requests), the company is not liable for any resulting errors in Account Balances and reserves the right to make necessary corrections or adjustments on the Account involved.
- Transaction Confirmation
All transaction records and reporting, in addition to customers within 24 hours the company executive in charge of a written protest, all transaction records and reporting will be in one day for final verification. Where a discrepancy occurs in transaction, our data in trading system or record of the telephone shall prevail.
- Trades Clearing Period
The SGMT4 trading platform will be stopped daily at Hong Kong Time 4:00 am (Greenwich Mean Time GMT 20:00 Summer), Hong Kong Time 5:00 am (Greenwich Mean Time GMT 21:00 Winter) market close for trades clearing. Order will not be accepted during the trades clearing period until it resume in operation at Hong Kong Time 7:00 am (Greenwich Mean Time GMT 23:00 Summer), Hong Kong Time 8:00 am (Greenwich Mean Time GMT 00:00 Winter) .
- Change Transaction Rules
The company reserves the right to add, delete or change all the transaction rules which will become effective after published on websites of the company. Clients will be informed the change of margin requirement by system information of the trading platform. When an account balance is no longer able to cover the minimum margin requirement, all open contracts will be closed automatically / hedged (locked) against the current market rate. (Any change in the trading regulations above will be posted on our website without individual notification, the clients are advised to read and look out for the notice every time when you access the website.)