Common use of CFD Trading Terms Clause in Contracts

CFD Trading Terms. Overnight Interest A daily financing charge may apply to each Forex, CFDs, open position at the closing of The Company’s trading day as regards that Forex, CFD. If such financing charge is applicable, it will either be requested to be paid by Customer directly to the Company it will be paid by the Company to Customer, depending on the type of FX/CFD and the nature of the position Customer holds. The method of calculation of the financing charge varies according to the type of FX/CFD to which it applies. The financing charge will be credited or debited (as appropriate) to the Customer’s account on the next trading day following the day to which it relates. The Company reserves the right to change the method of calculating the financing charge, the financing rates and/or the types of FX/CFDs to which the financing charge applies. For certain types of FX/CFDs, a commission is payable by Customer to open and close FX/CFD positions. Such commission payable will be debited from Customer’s account at the same time as the Company opens or closes the relevant FX/CFD. Changes in our swap interest rates and calculations shall be at our own discretion and without notice. Clients need to always check information for the current rates charged. Information concerning the swap rates for each Instrument is displayed on the Trading Platform. Rates may change quickly due to market conditions (changes in interest rates, volatility, liquidity, etc.) and due to various risk related matters that are at the firm’s sole discretion. Any open FX/CFD transaction held by Customer at the end of the trading day as determined by the Company or over the weekend shall automatically be rolled over to the next business day so as to avoid an automatic close and physical settlement of the transaction. The customer acknowledges that when rolling over such transactions to the next business day, a premium may be either added or subtracted from Customer’s account with respect to such transaction. Information concerning the swap rates for each Instrument is displayed in the “details” link for each specific Instrument on the Trading Platform. On Wednesday around 00:00 GMT, overnight rollover fees are multiplied by three (x3) in order to compensate for the upcoming weekend. Expiry Transactions and rollover Trades in CFDs linked to the market price of a certain base asset, including the market price of future contracts. A few days prior to the expiration date of the base asset to which the CFD linked, the base asset shall be replaced with another asset, and the quotation of the CFD shall change accordingly. For certain Instruments on our platform that are based on Futures Contracts, we may, in our sole and absolute discretion, set an Expiry Date and time for a specific Instrument. Information concerning the expiration date for each Instrument is displayed in on the Trading Platform. In the event we set an Expiry Date for a specific Instrument, it will be displayed on the Trading Platform in the details link for each specific Instrument. You acknowledge that it is your responsibility to make yourself aware of the Expiry Date and time. If you do not close an open Transaction with respect to an Instrument which has an Expiry Date, prior to such Expiry Date, the Transaction shall automatically close upon the Expiry Date. The Transaction shall close at a price which will be the last price quoted on the Trading Platform immediately prior to the applicable Expiry Date and time. Execution Practices in the Financial Instruments Slippage You are warned that Slippage may occur when trading in Financial Instruments. This is the situation when at the time that an Order is presented for execution, the specific price showed to the Client may not be available; therefore, the Order will be executed close to or a number of pips away from the Client’s requested price. So, Slippage is the ditference between the expected price of an Order and the price the Order is actually executed at. If the execution price is better than the price requested by the Client, this is referred to as positive slippage. If the executed price is worse than the price requested by the Client, this is referred to as negative slippage. Please be advised that Slippage is a normal element when trading in financial instruments. Slippage more often occurs during periods of illiquidity or higher volatility (for example due to news announcements, economic events, and market openings and other factors) making an Order at a specific price impossible to execute. your Orders may not be executed at declared prices. Slippage may appear in all types of accounts we otfer. It is noted that Slippage can occur also during Stop loss orders, Limit orders, and other types of Orders. We do not guarantee the execution of your Pending Orders at the price specified. However, we confirm that your Order will be executed at the next best available market price from the price you have specified under your pending Order.