Trading Rules
Commodity Trading Rules
| Local Spot Gold (LLG) | Local Spot Silver (LLS) | |
|---|---|---|
| Contract unit (per lot) | 100 oz | 5000 oz |
| Transaction spread | $0.50/oz | $0.05/oz |
| Basic deposit | $2500 per lot | |
| Minimum single transaction quantity | 0.05 contracts | |
| Single maximum transaction quantity | 20 contracts | |
| Handling fee (per lot) | 50 U.S. dollars | |
| daily interest | Buy: -1.75%; Sell: -1.25% (annual interest rate here) | |
| Daily Warehouse Rent | --------------------not applicable-------------------- | |
| Lockup Margin | $1,250 ($2,500 for a set) | |
Trading Hours and Settlement Hours
| summer | winter | |
|---|---|---|
| Transaction hour | From Monday 07:01 am to Saturday 03:59 am | From Monday 07:01 am to Saturday 03:59 am |
| settlement time | Daily from 5:00 am to 6:00 am Hong Kong time | Daily from 6:00 am to 7:00 am Hong Kong time |
| American winter time is from 2:00 am on the first Sunday in November to 2:00 am on the second Sunday in March; | ||
| US Daylight Saving Time is from 2:00 am on the second Sunday in March to 2:00 am on the first Sunday in November. | ||
| The transaction will be changed according to international holidays, and any changes will be announced on the company's website | ||
| If the position is held in the market on Friday, Saturday, and Sunday, interest will be paid for three days | ||
Means of transaction
Limit order：The spot gold limit order needs to be at least 300 price points away from the market price (ie 3 US dollars) or more, and the spot silver limit order needs to be at least 30 price points away from the market price (ie 0.3 US dollars) or more Only the above can be set,
* If the margin in the customer’s trading account is insufficient, neither the market order nor the limit order will be executed, and will be canceled immediately
Take profit order and stop loss order：can be set for contracts that have not yet been closed. Spot gold needs to be set at a price above 300 from the market price, and spot silver can only be set at a price above 30 prices from the market price. * If the customer
* If the margin in the customer’s trading account is insufficient, neither the market order nor the limit order will be executed, and will be canceled immediately
Lock up
| There are long positions and short positions of the same number of contracts in the account at the same time | The available prepayment ratio in the account must be higher than 100% to lock the position |
|---|---|
| * The company does not recommend customers to lock positions. Locking positions will increase customer handling fees and interest costs. When customers lock positions, please pay attention to the situation in the trading account | |
The stipulation for the lock-up operation is that when the customer’s net value is greater than the used prepayment, the customer can lock the order and only occupy one-sided margin. For example, if the customer trades more than one lot, the prepayment used is 2,500 US dollars. As long as the customer’s net worth is greater than 2,500 US dollars, the customer can lock the position at any time. If the customer’s net worth is less than 2,500 US dollars, the customer will only be able to close the position and cannot perform lock-up operations. After the customer locks the position, he can perform the unlocking operation at any time. If the prepayment ratio is less than 100% and the order is locked, a “insufficient funds” prompt will appear.
In view of the fact that customers will lock orders by means of pending orders, please pay attention to the funds in the account. For example, the account funds are 2,800 US dollars, buy more than 1 lot at 1420, and set a pending order at 1415, hoping that the system will help lock the order when the price falls to 1415. In this case, if the price really falls to 1415, the prepayment ratio is less than 100%, which will cause the lock-up situation to be impossible, so please be sure to arrange funds when trading.
Note: Advance payment ratio = net value ÷ used advance payment
forced liquidation
When the net value in the trading account is lower than 50% or less of the deposit, the customer will be required to make an additional advance payment to the basic advance payment ratio.
When the net value in the trading account is lower than 20% or less of the margin requirement, in order to protect the interests of customers, the company will close some contracts or all contracts for the customer until the net value returns to more than 20% of the margin requirement
abnormal transaction
1. Due to network delays, failures, computer failures, quotation errors or quotation system loopholes, the quotations on the trading platform may not accurately reflect the real-time market prices. In order to maintain the fairness of online transactions, Enrich Target does not Accept any transactions that exploit glitches or loopholes. If found, all relevant transactions will be canceled and recovered, and all illegal profits and additional fees incurred will be cancelled.
2. If 30% of the orders are held for less than 3 minutes, or belong to locked orders established within 3 minutes, the account will be judged as abnormal transactions
★ If the loss of the transaction order reaches 10% or more of the transaction principal, no processing will be done, and the customer’s withdrawal amount will be issued to the customer and the account will be canceled
★ If the loss of the transaction order is less than 10% of the transaction principal, we will charge 10% of the capital injection as the cost of the abnormal transaction, and then issue the balance to the customer and cancel the account.
★ The transaction orders within the review period are profitable, we will deduct all profits and charge 10% of the capital injection amount as the cost of abnormal transactions, and then issue the balance to the customer and cancel the account.
Gap rule
In the case of a general short jump, all limit orders will be executed according to the price set by the customer. If the customer has open contracts and limit orders at the same time, the short jump will lead to insufficient margin, and the positions held will be liquidated and restricted. The price list is cancelled, Enrich Target reserves the final approval right for the customer’s above situation
