Construction of charts
In the MetaTrader 4 trading system, in construction of price charts, both the maximum price (High) and the minimum price (Low) are taken at Bid price.
Minimum lot size
A Standard lot would represent 100,000 units of the base currency, where as a minimum lot is 0.01 of standard lot (or 1,000 of the base currency).
When working with micro lots (0.01-0.09) only one transaction per second can be executed.
Rules for running and executing pending orders
Acceptance and modification of pending orders may be postponed 3 minutes before the release of significant macroeconomic figures and important political or economic news.
Pending orders or T/P and S/L orders can be placed not closer than spread per instrument. The minimum distance for S/L orders may be increased up to 10 spreads 10 minutes before the release of significant figures of macroeconomic statistics and important political or economic news. 30 minutes before market close, the level for S/L orders is increased to 25 spreads. This rule applies also to the opening of pending and market orders with a pre-determined S/L within the range of 10 (25) spreads.
In case S/L order was placed within the range of 10 spreads, MetaTrader 4 software does not allow one to separately modify connected S/L and T/P orders. Hence any attempt to modify T/P, will be blocked automatically.
Modification and removal of T/P and S/L orders as modification or close of any pending order will be rejected if the market price is 2 pips close to them.
Execution of orders if the market opens with a gap or a gap occurs during the day
If the market opens with a gap or a gap occurs during the day (it generally happens after weekends or holidays, upon release of significant macroeconomic data, economic or political news, or in the event of Force-Majeure events), orders are executed as follows:
- Take Profit (T/P) orders are executed at stated prices;
- Stop Loss (S/L) orders are executed at stated prices;
- Stop Loss (S/L) orders set for lock positions, are executed at first market prices;
- Limit orders are executed at stated prices;
- Buy Stop and Sell Stop orders for position opening are executed at first market prices.
If at any time Equity (current balance including open positions) is equal to or less than 20% of the margin used by opened positions, a dealer is entitled at his discretion to close one or all open positions in order to meet margin requirements.
Margin requirements may increase from 0.5% up to 2% on weekends and holidays (i.e. maximum leverage is 1:50 for that period). Client is obliged to bring its open position in accordance with the increased margin requirements at least 30 minutes before the time of bidding.
Hereby FIBO Group informs all its clients that spreads on this type of account can be temporary increased due to high volatility and (or) low liquidity on the market. Clients can find information about temporary increased spreads for a certain currency pair in Trading Conditions (Contracts specification part) in our web-site. In an effort to familiarize themselves with the actual spread for a certain currency pair, clients should regularly visit the above mentioned part of this web-site.