Placing an Order. 14.7.1. Before you enter into the copy trade, you will need to deposit the amount of money you would like to invest in that copy trade and choose how you would like to copy. We will then automatically execute orders for you in the proportion or percentage you have chosen which means we will not obtain your confirmation before we do this. The opening of such transactions shall not require any prior consultation, consent or approval. Trades below the minimum trade amount shall not be opened. 14.7.2. There are a number of order restrictions when copy trading, including on the minimum and maximum amount that can be invested in any BDSwiss trader that you copy, the minimum amount on any single copy trade, and the maximum number of traders that you can copy. The full restrictions are as below. I. The system can only open the minimal size of trades for the given symbol (i.e. for forex cannot open less than 0.01) II. The system will round to the closest size it can (i.e. if the equity of copier is 50% and the Master opened 0.03, the system cannot open 0.015, but will round the trade size to 0.02. III. If the Slave account (the copier) does not have enough ‘free margin’ to open the proportion, then the system will reject the deal. IV. The Slave account may execute at a different price to the Master, depending on market volatility between the time the master places a trade and the system copies the trade. V. There may be rare cases where the connection of the system fails to copy the trade from Master to Slave. In this case, the company should not take any responsibility for this. However, the client should be informed to contact us asap so we can try and rectify the situation. VI. The Master and Slave must both have the same account type, be on same server and be under the same entity. 14.7.3. When you are using our Copy Trader service, you can choose to copy: (a) only new trades which are opened after you begin to copy the trader's account. This means that we will not copy any trades in the trader's account which were entered into before this point. 14.7.4. If you are copying only new trades: (a) we will attempt to open your positions at the same time as the trades being copied, we will open your position at the best available price at the time of copying; and (b) all instructions and actions related to the copied trade will automatically be replicated in your BDSwiss account (subject to the trade size as explained above), including stop losses, take profits and the closing of trades. For example, if a trader that you are copying extends their stop loss by adding more funds to their account then your stop loss will be adjusted automatically to reflect this. However, your position amount will remain the same as its initial amount. 14.7.5. The copy trading service has a number of other functionalities that we may make available to you from time to time. However, we may add, remove, or change the availability and features of these functionalities, at our discretion. This may impact how you can use the copy trading service on our platform, for example whether you can copy all trades or only new trades of a trader.
Appears in 2 contracts
Sources: Client Agreement, Client Agreement
Placing an Order. 14.7.1. Before you enter into the copy trade, you will need to deposit the amount of money you would like to invest in that copy trade and choose how you would like to copy. We will then automatically execute orders for you in the proportion or percentage you have chosen which means we will not obtain your confirmation before we do this. The opening of such transactions shall not require any prior consultation, consent or approval. Trades below the minimum trade amount shall not be opened.
14.7.2. There are a number of order restrictions when copy trading, including on the minimum and maximum amount that can be invested in any BDSwiss trader that you copy, the minimum amount on any single copy trade, and the maximum number of traders that you can copy. The full restrictions are as below.
I. The system can only open the minimal size of trades for the given symbol (i.e. for forex cannot open less than 0.01)
II. The system will round to the closest size it can (i.e. if the equity of copier is 50% and the Master opened 0.03, the system cannot open 0.015, but will round the trade size to 0.02.
III. If the Slave account (the copier) does not have enough ‘free margin’ to open the proportion, then the system will reject the deal.
IV. The Slave account may execute at a different price to the Master, depending on market volatility between the time the master places a trade and the system copies the trade.
V. There may be rare cases where the connection of the system fails to copy the trade from Master to Slave. In this case, the company should not take any responsibility for this. However, the client should be informed to contact us asap so we can try and rectify the situation.
VI. The Master and Slave must both have the same account type, be on same server and be under the same entity.
14.7.3. When you are using our Copy Trader service, you can choose to copy:
(a) only new trades which are opened after you begin to copy the trader's account. This means that we will not copy any trades in the trader's account which were entered into before this point.
14.7.4. If you are copying only new trades:
(a) we will attempt to open your positions at the same time as the trades being copied, we will open your position at the best available price at the time of copying; and
(b) all instructions and actions related to the copied trade will automatically be replicated in your BDSwiss account (subject to the trade size as explained above), including stop losses, take profits and the closing of trades. For example, if a trader that you are copying extends their stop loss by adding more funds to their account then your stop loss will be adjusted automatically to reflect this. However, your position amount will remain the same as its initial amount.
14.7.5. The copy trading service has a number of other functionalities that we may make available to you from time to time. However, we may add, remove, or change the availability and features of these functionalities, at our discretion. This may impact how you can use the copy trading service on our platform, for example whether you can copy all trades or only new trades of a trader.
14.7.6. If the Client follows a performance fee structure, the Client acknowledges that the account will be placed on ‘read only’ from the date the Client starts copying. A read-only account will prevent the client from accessing certain features of his/her/its trading account, including but not limited to, placing / closing orders, withdrawing funds, during the copy time and until the Client presses the ‘Stop’ button via his/her/its personal dashboard, then the read only status shall be removed. The Client understand and acknowledge that any outstanding performance fees will be deducted from his /her /its balance before the read only status is removed.
Appears in 1 contract
Sources: Client Agreement