CTA OPERATING RULES
2.1 The STA is limited to one account per individual, and you must provide a valid e-mail address and mobile phone number for account verification purposes.
2.2 You must comply with the
Direct Access Broker’s T&Cs at all times, subject to such revisions as
may be imposed by the Direct Access Broker from time to time. You must additionally comply with the terms of this Agreement, subject to such revisions as we may make from time to time.
2.3 Your eligibility for profit sharing at Schedule 2, Paragraph 3 is dependent on Your ongoing
compliance with this Schedule 2 and the Direct Access Broker terms and conditions.
2.4 The account will operate on a demo server.
2.5 To maintain access to your STA you must have a Smart Charts Software Subscription.
2.6 Your STA will operate with a leverage of 25:1.
2.7 You will place at risk no more than 2% of Your STA balance on any one trade.
2.8 You must not have more than two (2) trades on the same currency pair, commodity, stock or index in the same direction.
2.9 We may deem an activity as “Scalping” if an Order or Trade on Your STA has any of the below characteristics. These apply to any financial instrument traded via Your STA:
(a) The Trade is opened and closed within three (3) minutes (i.e., the order for the closing trade follows the order for the open trade in three (3) minutes or less).
(b) An opposing trade is placed within three (3) minutes of another trade being opened thus
creating a fully or partially hedged position (also known as a ‘locked position’); or
(c) The Order for opening or closing the trade is placed on a latent price.
2.10 We do not provide spreads and liquidity to enable Scalping. Scalping is a breach of the Direct Access Broker T&Cs and of this Agreement. If, acting reasonably, we determine that you have engaged in Scalping on your STA then we may (without detracting from our other legal rights or remedies):
(a) Immediately terminate Your STA account.
(b) Void any trade (i.e., treat the trade as if it had never taken place) which was part of Scalping activity.
(c) Close any trade on the basis of our then and current process which was part of any Scalping activity; and/or
(d) Amend any trade on your behalf, so that it operates as it would have, as if the order was
executed in the absence of Scalping.
2.11 We can exercise the above rights even if You have entered into (or refrained from entering into) arrangements with third parties relating to the relevant trade and even if You may suffer a trading loss as a result.
2.12 You must not use any expert advisers, robots, copy trading software, artificial intelligence, ultra-high speed, or mass data entry that could manipulate or abuse our systems or services or give you an unfair advantage.
2.13 You must not, intentionally, or unintentionally, place trades that take advantage of errors in the accounts, such as inaccuracies in displayed prices or delays in their updates.
2.14 You are prohibited from engaging, either alone or in cooperation with others, in any trades or combination of trades across connected accounts or accounts held with Smart charts if the purpose of such trades is to manipulate trading. Examples of such manipulation include entering opposite positions simultaneously.
2.15 You must not execute trades on your STA using an external or slow data feed.
2.16 You must not perform gap trading on your STA (i.e. by opening trades during scheduled
major global news, macroeconomic events, or corporate reports, or earnings that may affect the relevant financial market for trading financial instruments).
2.17 You must not perform trades on your STA that are inconsistent with the way trading is
typically carried out in the forex or any other financial market. This includes but is not limited to:
(a) Opening positions with sizes that are noticeably larger than those of Your other trades; and
(b) Opening positions with numbers that are noticeably smaller or larger than those of Your other trades.
2.18 You must avoid any activities using your STA that may cause financial or other harm to the Direct Access Broker, such as over leveraging, overexposing, making one sided bets or account rolling.
2.19 If You breach any operating rule or instruction, Your STA will be suspended and reviewed by the Risk manager who may require You to undertake further coaching before approving the reactivation of Your STA. If the Risk manager is satisfied that You are able to continue, Your STA will be reactivated subject to the sole discretion of the Risk Manager (acting reasonably) based on their review.
2.20 You are prohibited from topping up Your STA using Your own funds because this is a demo trading account.
2.21 You acknowledge that funds cannot be withdrawn from the STA, nor can it be closed by You.
2.22 We reserve the right to access Your STA at any time, in order to perform risk management due diligence on Your activities.
2.23 You agree to reimburse Us in full in respect for all losses and expenses we incur as a direct consequence of You breaching this Agreement. Our liability for losses and expenses is set out in clause 9.11 of these terms and conditions.