1.1 The Terms of Business govern all actions with regard to the processing and execution of Customer’s Requests.
1.2 The Terms of Business and the Forex Customer Agreement should be read thoroughly by the Customer.
1.3 The Terms of Business identify: a. All actions related to Orders under Normal and Abnormal Market Conditions.
Execution of the Customer’s Requests: 2.1 The Company at its sole discretion will identify the current market price.
2.2 The amount of time needed to execute a Request depends on the quality of the connection. Under Normal Market Conditions, the Requests are usually completed within one and four seconds. Abnormal Market Conditions can cause delays in the process of execution of a Request.
2.3 The Company may decline a Request (“Off quotes” message), under the circumstances listed below: a. Abnormal Market Conditions; b. The Customer has insufficient Free Margin; c. The Request precedes the Market Opening time; d. The Customer has reached the volume limitation level.
Transactions: 2.4 The Ask price is used for a “buy” Transaction. The Bid price is used for a “sell” Transaction.
Rollovers: 2.5 All positions (Depending on Account Type) are subject to rollovers depending on the length of time held. For the up to date Rollover Rates the Client must refer to the website.
2.6 A SWAP/Rollover free account may be opened for a Client whose religious beliefs do not allow the use of interest rate differentials for the transfer of positions on the following day. 2.6.1 The company has the right to refuse service to swap-free without explanation. 2.6.2 In the instance the Swap-free account is applied for, the Company may at its sole discretion ask for additional documents as part of its compliance procedure.
Spreads: 2.7 The Company maintains floating and fixed spreads depending on the account type opened and the size of funds deposited. 2.7.1 Only one fixed spread account may be held by each client. A Client holding a fixed spread account may not hold a floating spread account unless the Company is made aware of and accepts the opening of both accounts.
2.8 For floating spread accounts, the spreads may widen: a. Under Abnormal Market Conditions;
2.9 For fixed spread accounts, the spreads may widen: a. During the hours of 2200 to 0600 server time (GMT +1)
2.10 Floating spread accounts operate under the ‘market execution’ regime
2.11 Fixed spread accounts operate under the ‘market execution’ regime.
2.12 In the Case of ‘market execution’ the Clients orders will be made at the current price at the moment of order execution.
2.13 In the processing of Instant Execution of a Client’s order, the price quoted in the order is compared with the current price. In case the current price differs from the price quoted in the order, a new price will be proposed with comment “Requote”. In case Client does not accept the new price it will be considered that the transaction is cancelled.
Leverage: 2.14 (a) In the case that the client account equity is equal or exceeds 300,000 USD (or currency equivalent) and there are open trades of Metals (Gold and/or Silver) of 50 lots or more, the Company reserves the right to adjust the leverage of the underlying trading account to 1:75. If this is the case the Company will inform the Client by email. (b) The size of the Leverage depends on the Account Type.
2.15 The Company has the right to change the Leverage for a Trading Account without giving prior notice.
2.16 The Company at its sole discretion may decrease the Leverage of a particular Customer at any time.
2.17 In order to open or close a position without using an Advisor, the Customer should press the “Buy”, “Sell” or “Close…” button while the prices in the Quotes Flow are satisfactory. In case the Client is using an Advisor, the Instruction must be generated at the current Quote.
3.1 To open a position, the Customer should identify the following: a. Currency pair name.
3.2 If “Free Margin” is greater than the Necessary Margin to open a New Position the position will be opened. “Free Margin” is calculated as follows: Free Margin = Balance + Floating “Floating” is calculated: for all Open Positions based on the profit and loss of these positions.
3.3 The Company has the right to re-quote if the current Quote changes.
3.4 Each Open Position has its own Order Number in the Trading Platform.
3.5 In the case of Hedged positions (opposing trades in the same instrument) are opened, margin is applied for the first leg of the hedged position.
3.6 The Company has the right to temporarily restrict the opening of any positions (“CloseONLY” Mode) at its sole discretion. Circumstances for such action include but are not limited to, the following:
4.1 To close a position, the Customer should identify the following: a. Currency pair name.
4.2 The Company has the right to re-quote if the current Quote changes.
4.3 A Request to close a position will be declined if it is made when the Stop Loss or the Take Profit for this position is in the queue in order to be executed. In this case the “Off quotes” message appears in the Client Terminal window.
5.1 To open a position the following Pending Orders may be used: a. “Buy Stop” ‐ to open a Long Position at the price higher than the current price;
Note: For Shares and Commodities CFD trading all Pending orders are closed during break times. Pending Orders are deleted on the close.
5.2 In order to close a position the following Orders may be used: a. “Stop Loss” ‐ set to close an opened position at the price less profitable than the current price;
5.3 The difference between the Stop Loss, Take Profit or the Pending Order level and the current market price must not be less than the “number of Points” indicated for each Instrument in the Contract Specifications.
5.4 The Customer may place, modify or delete Orders only within Trading Hours.
5.5 Each Pending Order has a Currency pair name.
5.6 The Company has the right to decline a Request to modify or delete an Order if it is being processed – the Order has been placed in the queue in order to be executed.
5.7 The Order is placed in the queue in order to be executed in the following cases: a. The Take Profit on open Long Position is placed in the queue in order to be executed if the Bid price in the Quotes Flow becomes equal or higher than the Order Level;
5.8 Buy Stop, Sell Stop and Stop Loss orders can be executed at the price different than that specified in the order in case these orders have been accepted for execution in Gap regime.
5.8.1 Gap regime is activated in case consecutive quote differs from previous one on a value, which exceeds “Gap Level”. “Gap Level” for each instrument is specified in Contract Specification. 5.8.2 Gap regime will continue till a following quote will differ from a previous one on less than “Gap Level”. In that case, Gap regime stops, and order is executed at current price.
5.9 Due to low liquidity and/or or high volatility and widened spreads, placing of pending orders around some Economic Announcements may be restricted.
6.1 The Company is entitled to close the Customer’s Open Positions without the consent of the Customer or any prior notice if the Equity is less than 10% of the Necessary Margin for Micro Accounts and 20% for all other Accounts.
6.2 If the Customer has several Open Positions, Company has right to close all open positions or the first position with the highest Floating Loss or closing open positions by FIFO (First In, First Out) method.
6.3 If a Stop Out execution has resulted in a negative Balance of the Customer’s Trading Account, the Customer shall not be liable for this loss. Company makes an adjustment of the full amount of negative Balance from own resources.
7.1 The most up to date bonus policy is always found in the documents section of the website.
8.1 In order to execute transactions the Live Trading Account must be properly funded. All funding methods can be found in the Traders Room under the Deposit Tab.
For any other Billing inquiries, please contact IBR Broker directly.
8.2 WebMoney Disclaimer (Waiver of Liability) Goods and services, offered by us as a Merchant are not provided on order or by request of a person or entity, running WebMoney Transfer System. We hereby act as an independent entity providing services and making independent decisions on pricing and offers. Entities, running WebMoney Transfer System do not receive any commission, interest fees or any other awards/refunds for the provided goods or services and are not liable for our activities. Verification, performed by WebMoney Transfer System only confirms the accuracy of our contact details and proves our identity. Verification is performed by our own free will and doesn’t mean or show our connection to the commercial activity of WebMoney Transfer System Operators.
9.1 In order to communicate with the Customer, the Company may use: a. Trading Platform internal mail
9.2 The following instructions are not accepted by fax, E‐Mail, etc, only through Trading Platform or phone calls: a. To open/close a position;
9.3 Any telephone conversation between the Customer and the Company may be recorded.
10.1 If any conflict situation arises when the Customer reasonably believes that the Company, as a result of any action or failure to act, breaches one or more terms of these Terms of Business, the Customer has the right to file a complaint with the Company within two Business Days after the grievance has arisen.
10.2 A complaint shall be filed with the Compliance Department by email at firstname.lastname@example.org
10.3 A complaint shall include: a. Full name of the Customer;
10.4 If the Server Log‐File has not recorded the relevant information to which the Customer refers, the argument based on this reference may not be considered.
11.1 The Company may resolve all Disputes: a. By crediting/debiting the Customer’s Trading Account;
The Company has the right to choose the method of Dispute resolution at its sole discretion.
11.2 The Company shall not be liable to the Customer if for any reason the Customer has received less profit than had hoped for or has incurred a loss.
11.3 Both the Company and the Customer have the right to initiate the process of Dispute resolution.
11.4 No complaints are accepted if the Customer is not able to place or modify any Order: a. Because the Internet connection is poor either on the side of the Customer or the Company or both; b. If the Customer’s Request to place the Pending Order is sent when an “Error Quote” (Spike) appears on the Trading Platform; c. As a result of the failure of the Trading Platform software/hardware and the Server LogFile has no records to prove Customer sent instructions.
11.5 During the Dispute process, the Customer acknowledges that no changes may be made on the order(s) that are being investigated. Once the Dispute has been resolved the Company has the right to trigger a Stop Loss or a Take Profit in the chronological order in which it would have been triggered.
11.6 In the case of a dispute, the Company is not responsible and cannot reimburse for potential profits or losses.
12.1 IBR Broker does not permit the practice of arbitrage when trading and strictly forbids any form of manipulation of its prices, execution, and platform or making transactions based on errors, omissions or misquotes on the IBR Broker platform. IBR Broker reserves the right to cancel any trades or profits associated with Customer’s account(s) or to block the withdrawal of Customer’s first deposit if IBR Broker suspects or has reason to believe that customer is involved in such activity.
12.2 Price latency, connectivity delays, and price feed errors sometimes create a situation where the prices displayed do not accurately reflect market rates. The concept of arbitrage and “scalping”, or taking advantage of these Internet delays, cannot exist in an OTC market where the client is buying or selling directly from the market maker.
12.3 Any transactions that rely on price latency or price feed errors may be subject to intervention which includes the right to void any transactions which IBR Broker has determined to be a result of any of these practices, revocation of profits, widening of spreads, block of trading and any other necessary corrections or adjustments on the account without prior notice.
12.4 If IBR Broker suspects or has reason to believe that Customer has abused the terms and conditions by hedging positions internally (using other trading accounts held with IBR Broker) or externally (using other trading accounts held with other brokers), IBR Broker reserves the right to cancel any trades or profits associated with Customer’s account(s) or to block the withdrawal of client’s first deposit.
13.Suspicious Funding of Trading Accounts
Occasionally, IBR Broker may see suspicious activity with regards to account funding. In such cases, the Compliance Officer (CO) will endeavor to make contact by email and telephone with the registered owner of the account.
The CO will continue to make such contact for no more than 48 hours. In the event that a response from the account holder has not been received within the 48 hour period, IBR Broker reserves the right to close all open positions and place the account inactive. If no contact is then received for a further 48hours the funds remaining in the account but not greater than the initial deposit will be returned to the original source of funding. This process applies to all methods of payment.
In the event that a credit card transaction is believed to be fraudulent, the CO will from time to time request scanned copies of the front and back of the credit card in question and may also ask for further proof of address. If such requests are not fulfilled, the CO has the right to inactivate the account and return the funds to the original card used to fund the account.
By checking the digital signature box on the account opening form the Client acknowledges to be bound by the Business Terms Agreement in conjunction with the Customer Agreement. The Client will be bound by all amendments made to the Business Terms Agreement, with the most recent version always available online via the website. It is the Clients duty to review the Business Terms Agreement and to understand fully the Risk Disclaimer found on the website.