You can place an Order via DCXONE’s Trading Platform. Once your instructions or Orders are received by DCXONE, they cannot be revoked, except with DCXONE’s written consent which may be given at DCXONE’s sole and absolute discretion. DCXONE shall have no liability for failure to execute orders. DCXONE shall have the right, but not the obligation, to reject any order in whole or in part prior to execution, or to cancel any order, where your Account contains funds that are insufficient to support the entire order or where such order is illegal or otherwise improper.
DCXONE may, in certain circumstances accept instructions, by telephone via DCXONE’s Dealing Room, provided that DCXONE is satisfied, at its full discretion, of your identity and DCXONE is further also satisfied with the clarity of instructions. In case of an Order received by DCXONE by any means other than through the Trading Platform, the Order will be transmitted by DCXONE to the Trading Platform and processed as if it was received through the Trading Platform. It is understood that an Order will not be affected. In the event that DCXONE wishes to confirm in any manner any instructions and/or Orders and/or communications sent through the telephone, it reserves the right to do so. You accept that there is a risk of misinterpretation or mistakes in the instructions or Orders sent through the telephone, regardless of what caused them, including, among others, technical failures.
Execution Policy
We are required to have an execution policy and to provide our clients with appropriate information in relation to our execution policy. DCXONE takes all reasonable steps to obtain the best possible results for its Customers. DCXONE’s Best Execution Policy sets out a general overview on how orders are executed as well as several other factors that can affect the execution of a financial instrument. Where you place orders with us, the execution factors that we consider and their relative importance is as set out below:
Price. The relative importance we attach is “high”.
Speed. The relative importance we attach is “high”.
Likelihood of execution and settlement. The relative importance we attach is “high”.
Size. The relative importance we attach is “high”. We are the principal to every order you place with us and therefore we are the only execution venue.
Authority
We shall be entitled to act for you upon instructions given or purporting to be given by you without further enquiry as to the genuineness, authority or identity of the person giving or purporting to give such instructions provided such instruction is accompanied by your correct Account number and password. If your Account is a joint account, you agree that we are authorized to act on the instructions of any one person in whose name the Account is held, without further inquiry. We shall have no responsibility for further inquiry into such apparent authority and no liability for the consequences of any actions taken or failed to be taken by us in reliance on any such instructions or on the apparent authority of any such persons.
Cancellation/withdrawal of instructions
Orders may be cancelled via the DCXONE Online Trading System but we can only cancel your instructions if you explicitly request so, provided that we have not acted up to the time of your request upon those instructions. Executed instructions may only be withdrawn or amended by you with our consent. DCXONE shall have no liability for any claims, losses, damages, costs or expenses, including legal fees, arising directly or indirectly out of the failure of such order to be cancelled.
Right not to accept orders
We may, but shall not be obliged to, accept instructions to enter into a Transaction. If we decline to enter into a proposed Transaction, we shall not be obliged to give a reason but we shall promptly notify you accordingly.
Control of orders prior to execution
We have the right (but no obligation) to set limits and/or parameters to control your ability to place orders at our absolute discretion. Such limits and/or parameters may be amended, increased, decreased, removed or added to by us at our absolute discretion and may include (without limitation):
- controls over maximum amounts placed to open a position using any of DCXONE’s products;
- controls over maximum positions placed per trader and per asset;
- controls over our total exposure to you;
- controls over prices at which orders may be submitted (to include (without limitation) controls over orders which are at a price which differs greatly from the market price at the time the order is submitted to the order book);
- controls over the Electronic Services (to include (without limitation) any verification procedures to ensure that any particular order or orders has come from you); or
- any other limits, parameters or controls which we may be required to implement in accordance with Applicable Regulations. Should you surpass the limits and/or parameter we set, your trade shall be blocked and/or suspended.
The position limits will be notified in advance to you either through DCXONE’s website or trading platforms.
Trade Adjustments
Clients must be aware that Forex transactions carry a high degree of risk. The amount of initial margin may be small relative to the value of the foreign currency so that transactions are ‘leveraged’ or ‘geared’. A relatively small market movement may have a proportionately larger impact on the funds that the Client has deposited or will have to deposit. This may work against as well as for the client. DCXONE exclusively reserves the right to widen its variable spreads, adjust leverage, change its rollover rates and/or increase the margin requirements without notice under certain market conditions including, but not limited to, when the trading desk is closed, around fundamental announcements, as a result of changes in credit markets and/or at times of extreme market volatility. In such circumstances, the Client agrees to indemnify DCXONE for any and all losses that may occur due the widening of spreads and the adjustment of leverage.
Furthermore, it should be noted that DCXONE operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.
Execution of orders
We shall use our reasonable endeavors to execute any order promptly, but in accepting your orders we do not represent or warrant that it will be possible to execute such order or that execution will be possible according to your instructions. If we encounter any material difficulty relevant to the proper carrying out of an order on your behalf we shall notify you promptly.
Confirmations
At the end of each trading day, confirmations for all Transactions that we have executed on your behalf on that trading day will be available via your online Account on our website. It is your responsibility to notify DCXONE if any confirmations are incorrect. Confirmations shall, in the absence of manifest error, be conclusive and binding on you, unless you place your objection in writing within 5 Business Days. You may request to receive the Account statement monthly or quarterly via email, by providing such a request to DCXONE, but DCXONE is not obliged to provide you with the paper Account statement. The Account statement may be provided at the expense of the client.
Cancellation of trades
We have the right to reject an order or to cancel a transaction if we have adequate reasons/evidence that the following have occurred:
- fraud/illegal actions that led to the transaction,
- any instance when DCXONE has cause to believe that a person’s trading activities may be illegal;
- any instance where DCXONE may suffer any fiscal, regulatory, or pecuniary disadvantage by virtue of anyone’s activities;
- any instance where one or more transactions are judged by DCXONE to have been performed in violation of this Agreement.
- orders placed based on manipulated prices as a result of system errors or system malfunctions,
- arbitrage trading on prices offered by our platforms as a result of systems errors; and
- coordinated transactions by related parties in order to take advantage of systems errors and delays on systems updates. We reserve the right to cancel any and/or all trading positions and withhold and/or forfeit any profits incurred by the Customer on all the Customer’s trades if we consider that the Customer has engaged in market Arbitrage.
Disabling and Cancelling Deposits
We have the right not to accept funds deposited by you and/or to cancel your deposits in the following circumstances:
- if you fail to provide DCXONE with any documents it requests from you either for client identification purposes or for any other reason;
- if DCXONE suspects or has concerns that the submitted documents may be false or fake;
- if DCXONE suspects you are involved in illegal or fraudulent activity;
- if DCXONE is informed that your credit or debit card (or any other payment method used) has been lost or stolen;
- where DCXONE considers that there is a chargeback risk; and
- when you deposit \$3,000 or more or if you make over 10 separate deposits to your trading Accounts and DCXONE is unable to verify your credit or debit card details or is unable to verify any other payment method used. In case of cancelled deposits, and if there is not a confiscation of your funds by a supervisory authority on the grounds of money laundering suspicion or for any other legal infringement, your funds will be returned to the bank account that have been initially received.
Improper or Abusive Trading
DCXONE’s objective is to provide the most efficient trading liquidity available in the form of streaming, tradable prices for most of the financial instruments we offer on the trading platform. As a result of the highly automated nature of the delivery of these streaming, tradable prices, you acknowledge and accept that price misquotations are likely to occur from time to time.
Should you execute trading strategies with the objective of exploiting such misquotation(s) or act in bad faith (commonly known as ‘sniping’), DCXONE shall consider this as unacceptable behaviour. Should DCXONE determine, at its sole discretion and in good faith, that you or any representative of yours trading on your behalf is taking advantage, benefitting, attempting to take advantage or to benefit of such misquotation(s) or that you are committing any other improper or abusive trading act such as for example:
- a) fraud/illegal actions that led to the transaction; b) orders placed based on manipulated prices as a result of system errors or system malfunctions; c) arbitrage trading on prices offered by our platforms as a result of systems errors; and/or d) coordinated transactions by related parties in order to take advantage of systems errors and delays on systems updates.
Then DCXONE will have the right to:
- adjust the price spreads available to you; and/or
- restrict your access to streaming, instantly tradable quotes, including providing manual quotation only; and/or
- obtain from your account any historic trading profits that you have gained through such abuse of liquidity as determined by us at any time during our trading relationship; and/or
- reject an order or to cancel a trade; and/or
- immediately terminate our trading relationship.
Prohibited Trading
No employee and/or former employee who currently works or used to work on a full time or part time basis for DCXONE or any of its related entities shall, during the term of the employee and/or former employee’s service to DCXONE or any of its related entities and after termination of service become a client of any brand of DCXONE (either directly or indirectly, alone or with partners, associates, affiliates or any other third party) without DCXONE’s prior written approval. Should DCXONE consider that the employee and/or former employee is trading with any brand of DCXONE without DCXONE’s prior written approval personally and/or via a third party we shall consider all the trading to be abusive and/or improper trading. In such circumstances the employee and/or former employee’s trading account(s) and all open positions shall be closed immediately and any funds held within the account shall be confiscated. No business associate or former business associate of DCXONE or any of its related entities shall, during the period of the agreement between the associate/former business associate and DCXONE and after termination of such agreement, become a client of any brand of DCXONE (either directly or indirectly, alone or with partners, associates, affiliates or any other third party) without DCXONE’s prior written approval. Should DCXONE consider that the associate/former business associate is trading with any brand of DCXONE without DCXONE’s prior written approval personally and/or via a third party we shall consider all the trading to be abusive and/or improper trading. In such circumstances the relevant associate/former business associate’s trading account(s) and all open positions shall be closed immediately and any funds held within the account shall be confiscated.
Trailing Stop functionality in case that MT4 terminal is closed
In the event that the MetaTrader 4 client terminal is closed, trailing stop will not work. This happens as the trailing stop works on the client terminal side and in this respect, if the client terminal is closed, only the stop loss that was placed by trailing stop before the closing of the terminal can trigger.
Withdrawals
Once your withdrawal request is approved, your withdrawal request will be processed by us and sent to the same bank, credit card or other source for execution on the same day that the request to withdraw funds was made, or the next working day if the client’s request is received outside of normal trading hours. (Note: Some banks and credit card companies may take time to process payments especially in currencies where a correspondent bank is involved in the transaction). The funds will be returned to the bank account/credit card/other source from which the funds were debited. You are fully responsible for the payment details that you provided to DCXONE and DCXONE accepts no responsibility if you have provided false or inaccurate bank details. Further, withdrawals bear third party charges which may vary in accordance with the terms and conditions of the third parties. These charges may be verified upon request.
The minimum withdrawal amount for all methods (excluding wire transfer) is $20. The minimum withdrawal amount request for wire transfer is $100. Any withdrawal request for an amount below the two amounts mentioned above will incur handling and processing charges as follows: minimum $10 for all methods (excluding wire transfer) and minimum $50 for the wire transfer.
If you request a withdrawal of funds from your Account and we cannot comply with it without closing some part of your open positions, we will not comply with the request until you have closed sufficient positions to allow you to make the withdrawal. Withdrawals will only be made on request by you, by bank transfer to an account in your name or such other method as we, in our absolute discretion, may determine.
In the event that it is not possible for the funds to be withdrawn without delay, DCXONE, in meeting its obligations to act in the client’s best interest, will keep the client informed, including about the reasons for any delay and the expected timeframe before the funds will be withdrawn. Information provided to the client about any delays in withdrawing funds will be fair, clear and not misleading.
DCXONE will endeavour to process your withdrawal requests promptly, however the time needed for the requested funds to be processed and appear in your account will depend upon the method used for depositing the funds and the third parties which are executing the payments.
Stock Related Payouts on CFDs
Payments on Stock Splits, Reverse Stock Splits, Stock Dividends and other Stock related events can have an impact on the share price and thus on the price of an equity based CFD. A person who holds a CFD position has no ownership of the underlying instrument. However, when a client holds a long CFD position, DCXONE shall pay the equivalent of the dividend to that client and deduct the equivalent from any client holding a short CFD position. This shall be done on or shortly after the ex-dividend date as that is when the economic effect is felt on the underlying share price.
Inactive and Dormant Account
The Customer acknowledges and confirms that any trading account(s), held with DCXONE by a DCXONE Customer where the Customer has not: 1. placed a trade; 2. opened or closed positions; and/or 3. made a deposit into the Customer’s trading account; for a period of ninety (90) days and more, shall be classified by DCXONE as an Inactive Account (“Inactive Account”) where the Customer has and continues to:
- place a trade;
- open or close positions; and/or
- make a deposit into the Customer’s trading account; the account shall be classified by DCXONE as an Active Account (“Active Account”)
The Client further acknowledges and confirms that such Inactive Accounts will be subject to a monthly charge of \$25 (or equivalent in other currencies), relating to the maintenance/administration of such Inactive Accounts. The Customer further agrees that any Inactive Accounts, holding zero balance/equity, shall be turned to Dormant (“Dormant Account”). In cases where your account remains Inactive for a period exceeding 12 months, an Annual Inactivity Fee shall apply, which will be deducted at a rate of one-hundred US Dollars (\$100) or equivalent per quarter, minus any monthly inactivity fees already charged. The Annual Inactivity Fee may be charged by DCXONE at any point subsequent to the 12-month period being exceeded and applies retroactively. For re-activation of Dormant Accounts, the Customer must contact DCXONE’s Customer Support Department and inform them of the Customer’s wish to reactivate the Dormant Account. The Customer’s Dormant Account will then be reactivated (subject to, if required, up-to-date Know Your Customer documentation provided to DCXONE by Customer) and become an Active Account.