OPENING AN ORDER Clause Samples
The 'Opening an Order' clause defines the process by which a customer initiates a request for goods or services from a supplier. Typically, this clause outlines the required information or documentation needed to place an order, such as product specifications, quantities, delivery dates, and pricing. By establishing a clear procedure for submitting and acknowledging orders, this clause ensures both parties have a mutual understanding of how transactions begin, reducing the risk of miscommunication or disputes regarding order initiation.
OPENING AN ORDER. 3.3.1 Open orders are the market orders, Buy/ Sell and the pending orders Buy Limit, Buy Stop, Sell Limit, Sell Stop.
3.3.2 Buy order (long position) is opened at Ask price, Sell order (short position) is opened at Bid price.
3.3.3 On opening a position, the Client must deposit a security margin the size of which will depend on the leverage, the financial instrument and the order volume. For some financial instruments, the current market price of a financial instrument i s u s e d f o r margin calculation pur p ose. Leverage changes according to the equity change.
3.3.4 Once the Company server has received the Client's instruction to open the order, the trading account condition will automatically be checked if the margin is sufficient to support the open p os i t i on.
3.3.4.1 If the free margin is sufficient to open the order, the position will be opened.
3.3.4.2 If the margin is not sufficient to open the order, the position cannot be opened and the “Not enough money” message will appear.
3.3.5 If the Client’s instruction to open an order is received during non-trading hours or before the first quotation appears in the trading terminal, such order will be cancelled by the system.
3.3.6 If the Client’s instruction to open the order has been processed in error under circumstances referred to in clause 3.3.5 above, the Company has the right to cancel both the order and the financial result received from such order. The Company shall inform the Client of the o c c u r r e nc e of such situations.
3.3.7 The Client may not place pending orders Buy Limit, Buy Stop, Sell Limit, Sell Stop as well as Take Profit and Stop Loss closer than the minimum amount of points from the current price. This value can be found on the Platform.
3.3.8 The Client may add Stop Loss and/or Take Profit orders to the pending orders Buy Limit, Buy Stop, Sell Limit, Sell Stop and market orders.
3.3.9 When opening a market order, the Client shall indicate the following parameters: financial instrument, volume, buy or sell order. Placing Stop Loss and/or Take Profit levels is available only when modifying open position.
3.3.10 When opening a pending order, the Client shall indicate the following parameters:
3.3.10.1 financial instrument, volume, order type, price level (which are mandatory parameters);
3.3.10.2 Stop Loss and/ or Take Profit Levels and the duration of pending order (which are optional parameters).
3.3.11 Each order, except Stop Loss and Take Profit, will get a unique tick...
OPENING AN ORDER. 4.5.1. Open orders are the market orders Buy, Sell and the pending orders Buy Limit, Buy Stop, Sell Limit, Sell Stop.
4.5.2. Buy order (long position) is opened at Ask price, and Sell order (short position) is opened at Bid price.
4.5.3. On opening a position, the Client must deposit a security margin the size of which will depend on the leverage, the financial instrument and the order volume. For some financial instruments, the current market price of a financial instrument is used for margin calculation purposes. Leverage changes according to the equity change.
4.5.4. Once the Company server has received the Client's instruction to open the order, the Trading Account condition will automatically be checked if the margin is sufficient to support the open position. ◼ If the free margin is sufficient to open the order, the position will be opened. ◼ If the margin is not sufficient to open the order, the position cannot be opened and the “Not enough money” message will appear. This value can be found in the Client’s Terminal.