14.0. Freezing of account
The Company may at its discretion proceed to freeze the account of the client if it considers that documents received are not adequate and the client fails to provide the documents within the deadlines advised by the Company. In this case the account of the client will be charged a handling fee of $5 per month or the balance of the account whichever lower until the client provides the Company with the missing information.
14.1. Interpretation of terms and overall terminology within the framework of the forex markets
14.2. In these Terms of Condition:
14.3. “Abnormal Market Conditions” shall mean conditions contrary to Normal Markets Conditions e.g. when there is low liquidity in the market or rapid price movements in the market or Price Gaps.
14.4. “Balance” shall mean the amount of real money that the client has to open positions. This will change as the client wins or loses accordingly.
14.5. “Bar/Candle” shall mean a Chart element, which shows opening and closing prices, as well as the lowest and the highest prices for the definite period of time (for example, minute, 5 minutes, a day, a week).
14.6. “Chart” shall mean the Quotes Flow in the form of a chart. For the period, relevant for a Bar/Candle:
- Bar/Candle close price is the last Bid, d) Bar/Candle open price is the first Bid.
14.7. “Client Terminal Log File” shall mean the file, which is created by the Client Terminal in order to record all the Customer’s Requests and Instructions with accuracy to a second.
14.8. “Company” shall mean GF Markets LLC, which is authorized and regulated. The Company is registered in the St. Vincent and the Grenadines, with registered address at First St. Vincent Bank LTD Building, James Street Kingstown, St Vincent and the Grenadines.
14.9. “Customer” shall mean a legal entity or an individual being a party to the Operative Agreements with the Company in regard to making Transactions, subject to Margin Trading.
14.10. “Customer Agreement” shall mean the agreement between the Company and the Customer, which together with the Terms of Condition are defined as “Operative Agreements” and govern the terms on which the Company deals with the Customer.
14.11. “Day Order” shall mean an Order which is automatically deleted at the end of the trading session.
14.12. “Dealer” shall mean the Server or an employee of the Company who is authorized to process the Customer’s Instructions and Requests and execute Orders and Stop Outs.
14.13. “Instant Execution” shall mean the mechanism of providing Quotes to the Customer without prior Request. The Customer may make a Transaction anytime as the Customer sees the Quotes Flow in real time.
14.14. “Manifest Error” shall mean an error of a Dealer who opens/closes a position or executes an Order at the price which significantly differs from the price for this Instrument in the Quotes Flow at the moment of taking this action, or any other Dealer’s action in respect of the prices which are significantly different from the market prices.
14.15. “Margin” shall mean the amount of funds required and/or used by the Client in order to open a position.
14.16. “Market Opening” shall mean the time at which the market opens after weekends, holidays or trading session time gaps. “New Margin” shall have the meaning given in clause 6.8. “Normal Market Conditions” shall mean the market where there are no:
- considerable breaks in the Quotes Flow in the Trading Platform; and b) fast price movements; and c) large Price Gaps.
14.17. “Maximum Risk / Max. Risk” shall mean the amount of real money, the client, will want to risk / willing to lose for a new position opened
14.18. Order Level” shall mean the price indicated in the Order.
14.19. “Pending Order” shall mean an instruction from the Customer to the Company to open a position once the price has reached the level of the Order.
14.20. “Point” / “Pip” shall mean the numerical value of the last, or right most, digit of a Quote. “Price Gap” shall mean the following:
- the current Quote Bid is higher than the Ask of the previous Quote; or
- the current Quote Ask is lower than the Bid of the previous Quote.
14.21. “Period” shall mean the time frame the client will choose for their new position that will be opened.
14.22. “Price Gap on the Market Opening” shall mean the following:
- the first Bid of the current trading session is higher than the last Ask of the previous session; or
- the first Ask of the current trading session is lower than the last Bid of the previous session.
14.23. “Profit / Loss” shall mean the size of the position in terms of real money that it will be opened.
14.24. “Request Execution” shall mean the mechanism of providing Quotes to the Customer with prior Request.
14.25. “Quotes Flow” shall mean the stream of Quotes in the Trading Platform for each Instrument. “Sell Limit” shall have the meaning given in clause 8.1.
14.26. “Sell Stop” shall have the meaning given in clause 8.1.
14.27. “Server Log File” shall mean the file created by the Server, which records accurately to a second all Requests and Instructions sent by the Customer to the Company as well as the results of their execution. “Spread” shall mean the difference between Ask and Bid.
14.28. “Stop” shall mean when the client wants to close an active/open position they may terminate/stop the position by pushing the button
14.29. “Stop Loss” shall have the meaning given in clause 8.2.
14.30. “Stop Out” shall mean an instruction to close the Customer’s Open Position without the consent of the Customer or any prior notice in a case of insufficient funds required for maintaining Open Positions.
14.31. “Take Profit” shall have the meaning given in clause 8.2.
14.32. “Tick” shall mean the rate which the Company shall receive in its terminal trading platform(s).
14.33. “Ticker” shall mean the unique identity number assigned for each Open Position or Pending Order or deposit/withdrawal transaction in the Trading Platform.
14.34. “Trading Terms Webpage” shall mean the webpage of the Website on which the Trading Terms information is displayed. At the moment of this document the information is posted under the “trading-terms” tab on our website www.24domino.com
14.35. “Trading Platform Time Zone” shall mean the time zone in which the Server Log File records any event. At the time of the release of this document the Trading Platform Time Zone is GMT/BST + 2 (last weekend of October – last weekend of March). During daylight saving time (last weekend of March – last weekend of October), the Trading Platform Time Zone may be shown as GMT + 3.