Opening position. 1. To open a position, an order should be sent from the Customer terminal to the Company server. The following order parameters are obligatory: - instrument; - position size (in lots).
2. The list of instruments available for conducting trading operations using "Instant Execution" mode is published at the official website of the Company in the section "Trading Instruments" (xxxxx://xxx.xxxxxxxxxx.xxx/en/specifications.php).
Opening position. 7.5.1. When opening a Position, the Client indicates the Asset, Order type, Trade Size, and the side. Next Order types are available on the Trading Platform:
7.5.1.1. Market Order is an Order, the result of which is Open Position.
7.5.1.2. Limit Order and Stop Order are pending Orders to open a Position when Ǫuote reaches the price stated in the Order: - Buy Limit Order is executed whenever the current Ask price becomes lower or equal to the Order price; - Sell Limit Order is executed whenever the current Bid price becomes higher or equal to the Order price; - Buy Stop Order is executed whenever the current Ask price becomes higher or equal to the Order price; - Sell Stop Order is executed whenever the current Bid price becomes lower or equal to the Order price.
7.5.1.3. OCO (One Cancel Other) is a type of conditional order for a pair of orders in which the execution of one automatically cancels the other.
7.5.2. Besides, when opening a Position and before its closing, the Client can use the function 'Protection Orders' sending Stop Loss Order and/or Take Profit Order. Stop Loss and Take Profit are pending Orders that close an Open Position at a price stated in the Order in case the Position generates losses or profit respectively: ● Take Profit Order for a ‘Buy’ position is executed whenever the current Bid price becomes equal or higher than the Order price; ● Take Profit Order for a ‘Sell’ position is executed whenever the current Ask price becomes equal or lower than the Order price; ● Stop Loss Order for a ‘Buy’ position is executed whenever the current Bid price becomes equal or lower than the Order price; ● Stop Loss Order for a ‘Sell’ position: whenever the current ask price becomes equal or higher than the Order price.
7.5.3. The minimum and the maximum Trade Sizes for each Asset are stated in its Instrument info section on the Trading Platform. The Company has the right to change the minimum and the maximum Trade Sizes as well as establish and change the maximum total amount of all Open Positions of the Client.
7.5.4. A Client’s Order to open a Position will be rejected for the following reasons: ● the Client submits the Order before the first Ǫuote of the Position Asset is received on the Trading Platform at the opening of the market; ● there are not enough available funds in the Client’s Account to open a new Position.
7.5.5. Client’s Order to open a Position may also be rejected by the Server under market conditions other than normal.
