TeleTrade - News

    TeleTrade

    729.00 6.50/10
    57% of positive reviews
    Real

    Notice of Technical Changes: Amendment of Standard Contract Size for Certain Forex Instruments

    Dear Clients,

    Please be advised that on June 5, 2017, 00:00-01:00 (UTC 2), contract size for certain Forex instruments by TeleTrade will be changed in order to ensure uniformity of our trading conditions and offer you better trading experience.

    Standard contract size will be reduced from 150 000 to 100 000 units of base currency for the following instruments: AUDCAD, AUDCHF, AUDNOK, AUDNZD, AUDSEK, AUDSGD, AUDUSD, CADCHF, CHFSGD, EURAUD, EURCAD, EURCHF, EURHUF, EURNOK, EURNZD, EURPLN, EURSEK, EURSGD, GBPCHF, GBPDKK, GBPNOK, GBPSEK, GBPSGD, NZDSGD, NZDUSD, USDCAD, USDCHF, USDDKK, USDHUF, USDMXN, USDNOK, USDPLN, USDSEK, USDSGD, USDZAR.

    The change will affect open positions in the above instruments for all types of accounts for both MT4 and MT5 platforms.

    Please note that once the change is implemented, lot size of open positions in the above instruments will be re-scaled pro-rata, i.e. will increase by 1.5x of its original size. For example, a position resulting from a trade in 5 lots of USDCHF, 150 000 units, equivalent to USD 750 000, after implementing the said changes of standard contract size, will be accounted as 7.5 lots of 100 000 units, still equivalent to USD 750 000.

    In cases of fractional positions, the newly calculated lot size of such positions may be rounded to the nearest available fraсtion (0.1 or 0.01, depending on the account type) with the following adjustments:

    • For open positions with floating profit at the time of the change, we will round lot size upwards, to ensure that the amount of your floating profit on the position will not go down as a result of the lot size recalculation. For example, an open trade in USDCHF, with the size of 2.5 lots (USD 375 000), lot size increment 0.1 lot, and a floating profit at the time of conversion, will be converted to a position of 3.8 lots (380 000 USD)
    • For open positions with floating loss at the time of the change, we will round lot size downwards, to ensure that the amount of the floating loss on the position will not go up as a result of the lot size recalculation. For example, an open trade in USDCHF, with the size of 2.5 lots (USD 375 000), lot size increment 0.1 lot, and a floating loss at the time of conversion, will be converted to a position of 3.7 lots (370 000 USD).

    Please keep the above information in mind when planning your trading in the instruments that are to be affected by the change.

    Also, please keep in mind that the trading platforms will not be accessible during the implementation of the above changes on June 5, 2017, 00:00-01:00 (UTC 2).

    Please note that this communication serves as a notice of amendment of the terms of the Operative Agreement as per clause 24 of TeleTrade Client Agreement.

    We'll gladly answer any of your inquiries on the above. You are welcome to address your questions to our Representative Offices at your convenience, or to our technical support team.

    Phone: ( 357) 22314160

    e-mail: support@teletrade.eu

    Wishing you successful trading!

    Kind regards,

    TeleTrade


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree