terms and conditions

# Online Trading Terms & Conditions The following terms and conditions, including trading terms, form an integral part of your agreement with Orbex Global Limited and shall be read carefully; Orbex Global Limited does not bear any liability for clients who fail to comply with them. For more information, please contact us. [Learn More ](https://www.orbex.com/en/trading-conditions#) Market Watch Orbex strives to ensure that the market watch is accurate and prices are obtained from several major banks/liquidity providers/exchanges; in case of closure/failure of one or more price provider for any or all CFDs, quotes will be provided which will reflect what the company thinks to be the current Bid and Ask price for each CFD; we do not guarantee that our prices are the best prices available on the world market. The Client agrees hereunder that our market watch is only an indicator of the current world market and any misunderstanding regarding this service must be returned to Orbex Operations data. Moreover, charts for all traded instruments are drawn according to the default spreads, and may differ from the prices displayed on the market watch according to your account type because of differences in markups. Spread Orbex offers clients competitive spreads on all instruments, but may rarely make small increases on some or all instruments; ensuring that it provides the best available market conditions and tightest spreads. One of our most important objectives is to ensure that your orders are executed at the best market price and that you get the tightest spreads available. At order execution, we apply our markup on the best available market prices according to your Trading account type; all transparent markups are published in the below table, which demonstrates the markup value as a fraction of PIPs for each account type and currency pair. At order execution, we apply our markup on the best available market prices according to your account type. As a result, the markup effect on the spread is shown in the table below, which demonstrates the lowest possible spread in PIPs for each account type and currency pair taking into consideration that our spreads are variable. The below table demonstrates the best spreads available (as low as) for each forex account type and currency pair: | Account Type | Starter Account | Premium Account | Ultimate Account | | --- | --- | --- | --- | | Spread | As low as 1.5 pips | Starts From 0 pip | Starts From 0 pip | \\*\\* During major economic release and market opening times; spreads on Fixed accounts (Fixed Spread) will be set as variable and will comply with the best available market prices. Hedging Orbex allows clients to open positions in the opposite direction of previously opened positions in the trading account, to reduce loss and to decide later when to enter the market. Hedging an instrument by its corresponding Future OTC contract is forbidden (for swap-free accounts), because this represents an attempt to take advantage of the swap free facility and gain profits from swaps, one direction of this kind of hedge must be closed immediately. If the client fails to take action to avoid such practices, Orbex will, unfortunately, be required to close or take other action (by deducting the swaps retroactively or any other means) on these accounts without further notice. Hedged positions will be held in the trading account without affecting the required margin value, since the required margin is calculated for each instrument according to the net positions opened at a specific moment. The Company reserves the rights and at its sole discretion to close or partialy close any hedged position kept by the clients for a long period without priot notice to the clients Order Types Order Types **The following orders may be given by the client:** - OPEN to open a new position; - CLOSE to close an open position; - PARTIAL CLOSE – to close a part of an open position at the current market price and keep the remaining lots (part) floating. - Modify – to add, remove, edit orders for Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop. - CLOSE BY, in case hedging is allowed. - Multiple close to close-hedged positions on a specific instrument - Market orders: orders sent from the client terminal either by the client himself or a plug-in hooked to the client terminal (Expert Advisor), to buy or to sell an instrument at the current market price displayed on the market watch. - Pending orders: this kind of order can be set in the same way used for market orders; but at prices predicted by the trader and may be achieved in the future, like limit, stop, and entry orders. - All pending orders are guaranteed according to the fair market value. - All pending orders are good till cancelled (GTC), unless the client places an expiry time and date on entry orders, or in the event that the financial instrument expires. - All pending orders must be placed with respect to the rules appearing in the contract specifications for each instrument. - Once pending orders are in the process, the system will reject any cancellation or modification attempted during that time. - Pending order conditions may vary during hectic market conditions. - If the market opens with a break off after a weekend or holidays, upon release of important economic and political news, or in the case of force majeure events; orders (sell stop, buy stop, stop loss) are fulfilled at the first available prices in the market. - Even though such situations are not frequent, please be cautious when leaving pending orders for weekends and holidays. - Placing stop orders prior to the release of financial news is not permitted, such orders may be rejected, deleted or filled at the best available market prices at that time. Futures – OTC All future trades are classified as market orders, and will be executed according to the market prices provided from its corresponding exchange at the time of execution; in addition, exchange fees may apply. Rollover: Futures-OTC contracts will not be rolled over automatically, neither accepting rollover requests from clients; in the case of any client need to rollover a future-otc position/s, open positions on the current contract can be closed and reopened at the next nearby future-otc contract before the last trading day for each contract. Available Futures instruments: - Indices - Commodities - Energies Where margin, contract size, and general contract specifications are displayed in the Markets Section of the website, and updated periodically. Leverage\* Shall mean a ratio in respect of Transaction Size and Initial Margin, 1:100 ratio means that in order to open a position, the Initial Margin required is one percent of the original contract value. The 1 (one) standard lot size is the measurement unit specified for each CFD contract. The possible choice of a leverage rate ranges from 1:1 up to 1:500 depending on the type of the CFD, the amount of trading volume active in the account and at the Company’s discretion. At the opening of the Client Account, the leverage rate is set at 1:30 by default. The Client may change the leverage of his Client Account by contacting the Company. The Company has the right to allow a change to the Client Account leverage at the Company’s discretion. In addition, the Company may, at its discretion, change the Client Account Leverage without any prior notice to the Client. Regardless of your account type or the amount of equity you have in your account, the leverage you will be allocated to trade with will be determined by the amount of trading volume you have in active use at any given time. As your trading volume exceeds one range, the trading platform will automatically adjust your leverage according to the chart below: | Trading Volume Conditions | Leverage | | --- | --- | | Active Tradin