|Currency Pair||Symbol||Lot Size||Minimum
|Tick Value||Initial Margin|
|USD/CNH||USDCNH||100,000USD||0.00001 CNH||1 CNH||US 400|
* Mitrade offer 5 Decimal Pricing in forex trading(JPY currency pairs quoted to 3 decimal places), The Minimum Fluctuation is 0.1 pips.
|Lot Size||100,000 USD|
|Max. Lot Size
for each Single
|0.01 lots – 20 lots|
|Swaps||Please refer to the trading platform actual swap rate|
|When the account equity equals to 20% of used margin, the system may close current
open positions, starting form the most unprofitable trade, at current market price. The
process may continue until the account equity reaches above 20%of used margin.
|This refers to holding the same product, in the same amount, but in opposing positions.
Lock positions require a 25% initial margin.
* To unlock a locked position, 100% of initial margin is required
|For clients who have open positions of 10 lots or above and the account equity falls
below 100% of initial margin, Mitrade may close the open positions at market price without
prior notice until the margin reaches above 100% of initial margin on:
* Every last trading day (Friday) of the week;
* The trading day before holiday (market closed), and
* 10 minutes before market closed
|Summer Time: Sunday 22:00 to Friday 21:00
(Server Time: GMT+3 Monday 01:00 to Friday 24:00)
Winter Time: Sunday 23:00 to Friday 22:00
(Server Time: GMT+2 Monday 00:00 to Friday 24:00)
|Day End Time
|Summer Time: Everyday 21:00 (GMT+3 00:00)
Winter Time: Everyday 22:00 (GMT+2 00:00)
|Order Method||Through the online trading platform or mobile platform during trading hours|
|Trading Method||Market Order
Buy or sell at market price
An order to buy or sell a product at the maximum or minimum price
An order to buy or sell a product when the current market price surpasses the order price
OCO orders combine a limit order with a stop order. A pair of orders that when the stop order or limit order
is executed, the other order will be cancelled.
If...then order consists of two orders. If the first order is executed, the other order
will be placed.
|Expiry Mode||Apart from market order, clients can set all types of orders on different expiration dates. Orders can expire:
* At any time until the week before the expiration of valid order(Good Till Time ) ；
* Until the last trading day of the week(Good Till Friday/Cancel)；
* Good Till Time: the shortest time can be set at 10 minutes
* Please note that all limit orders may have special arrangements on international holiday which will be
announced before the relevant holiday.
|Limit / Stop
|Apart from market orders, limit orders and stop orders level will be restricted by the system.
Different products have different restrictions. Please refer to trading platform.
* Restriction levels may be increased according to economic data released. Please pay attention to
USD/CHN is an indirect quote product.
Profit and Loss = (Sell Price – Buy Price) x Contract Size x Lots ÷ Close Price ± Swap Fees (If any)
|Example 1) Client sold 10 lots USD/CHN at 6.48500 and closed positions at 6.46500 on the same day.|
|Profit and Loss = (6.48500 – 6.46500) x 100,000 x 10 ÷ 6.46500 ± 0 = USD 3,093.58
(Contract size: USD 100,000)
|Example 2) Client bought 10 lots USD/CHN at 6.45500 and closed positions at 6.47000 on the same day.|
|Profit and Loss = (6.47000 – 6.45500) x 100,000 x 10 ÷ 6.47000 ± 0 = USD 2,318.39
(Contract size: USD 100,000)
Swap Fees Calculation:
Base Currency x Contract Size x Lots x Annual Interest Rate ÷ 360 days x Exchange Rate of Base Currency and USD
(If positions closed on the same day, no swap will be charged or received. For actual swap rates please refer to trading platform.)