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HouseFx - Order Execution Policy
HouseFx Order Execution Policy

Important

  1. All trading transactions are performed online through HouseFx trading platforms.
  2. By-phone trading is not available.
  3. Any system failure at HouseFx may result into not executing the order according to the client instructions or not executing the order at all.
  4. Swaps values may be adjusted daily based on market conditions and rates provided by our liquidity Providers applicable to all open positions. Triple swaps are applied every Wednesday.
  5. Server Times: Winter: GMT+2 and Summer: GMT+3 (DST) (last Sunday of March and ends last Sunday of October).
  6. During the time period from 23:55 to 00:05 server time increased spreads and decreased liquidity can take place due to daily bank rollover. In case of inadequate liquidity/spreads during bank rollover, widened spreads and excessive slippage may occur. Therefore orders may not be executed during these times.

Market Execution

  1. All orders are guaranteed according to the fair market price.
  2. When a client clicks for a trade, the client makes a request according to the market watch price. If the requested price is a traded market price the trading system will confirm. Otherwise, if the available price is a different price, the system will fill the order on the available liquidity price/ prices.
  3. HouseFx reserves the right to cancel and/or delete any transaction/pending order executed on an invalid price without prior notice.
  4. Market spread is offered on all selected products .
  5. HouseFx may in its soule and absolute discretion, at any time, without a prior notice change its commissions, fees, spreads, margin requirements and leverages, or close any account.

Leverage

The standard leverage for all trading accounts when established is (1-100) and may be changed by request through the client portal.

Order Types

Market Order(s)

Market Order: This is an order to buy or sell at the current market price that is available. The system automatically aggregates the volume received from third party liquidity providers and executes the ‘market order’ at VWAP (‘Volume-Weighted Average Price’) which is the average and best available price at the time of execution.

Pending Orders

  1. All pending orders are guaranteed according to fair market rate.
  2. All pending orders must be placed according to the product specifications.
  3. Once pending orders are in process, HouseFx system will reject any cancellation or modification attempts during that time.

Pending Order(s)

Stop Order: This is an order to buy or sell once the market reaches the ‘stop price’. Once the market reaches the ‘stop price’ the ‘stop order’ is triggered and treated as a ‘market order’*. If the ‘stop order’ is not triggered it shall remain in the system until a later date subject to the conditions described in the ‘Good till Cancel’ section. In Contracts for Difference (‘CFDs’) on FX, Spot Metals and Futures, ‘stop orders’ should be placed a minimum number of pips away from the current market price.

Stop Loss: This is an order to minimize losses. Once the market reaches the ‘stop loss price’ the order is triggered and treated as a ‘market order’*. If the ‘stop loss’ is not triggered it shall remain in the system until a later date. In CFDs on FX, Spot Metals and Futures ‘stop loss’ should be placed a minimum number of pips away from the current market price.

Limit Order: This is an order to buy or sell once the market reaches the ‘limit price’. Once the market reaches the ‘limit price’ the ‘limit order’ is triggered and executed at the ‘limit price’ or better. If the ‘limit order’ is not triggered it shall remain in the system until a later date, subject to the conditions described in the ‘Good till Cancel’ section. In CFDs on FX, Spot Metals and Futures ‘limit orders’ should be placed a minimum number of pips away from the current market price.

Take Profit: This is an order to secure profits. Once the market reaches the ‘take profit price’ the order is triggered and treated as a ‘limit order’. If the ‘take profit’ is not triggered it shall remain in the system until a later date. In CFDs on FX, Spot Metals and Futures ‘take profit’ should be placed a minimum number of pips away from the current market price.

Good till Cancel (‘GTC’) (= Expiry):

This is a time setting that the client may apply to ‘pending orders. The client may choose a specific date in the future until which the order may remain ‘live’ and pending execution. If the order is not triggered during this timeframe it shall be deleted from the system.

Pending Order Modification / Cancellation:

The client may modify/ cancel a ‘pending order’ if the market did not reach the price level specified by the client.

Slippage

At the time an order is presented for execution, the specific price requested by the client may not be available. In this case, the order will be executed close to or several pips away from the client’s requested price. If the execution price is better than the price requested by the client this is referred to as ‘positive slippage’. In contrast, if the execution price is worse than the price requested by the client this is referred to as ‘negative slippage’. Please be advised that ‘slippage’ is a normal market practice and a regular feature of the foreign exchange market under conditions* such as illiquidity and volatility due to news announcements. HouseFx automated execution software does not operate based on any individual parameters related to the execution of orders through any specific client accounts.

• Bid prices on charts:

Charts in the terminal show only the bid prices whereas the ask price is not shown in the chart in any way. However, for the opening of long positions and closing of short ones, ask price is always used. You can make the ask line visible by enabling the 'Show ask line' parameter in which case an additional horizontal line corresponding to the current ask price of the last bar will appear in the chart.

• Trailing stops:

Stop Loss is intended for the reduction of losses where the symbol price moves in an unprofitable direction. If the position becomes profitable, Stop Loss can be manually shifted to a break-even level. To automate this process, Trailing Stop was created. This tool is especially useful when prices change strongly in the same direction or when it is impossible to watch the market continuously for whatever reason. Bear in mind that Trailing Stops operate in the client terminal and not in the server (as with Stop Loss or Take Profit) and will therefore not work if the terminal is off.

• Buy Stop Limit and Sell Stop Limit Orders

These are orders that combine the features of a stop order with those of a limit order. A stop-limit order will be executed at a specified price (or better) after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy (or sell) at the limit price or better.

• EAs and HFT (high frequency trading).

MetaTrader5 is fully compatible with Expert Advisors and automated trading systems as allowed by the prevailing market forex conditions and liquidity. Bear in mind that EAs and HFT operate in the client terminal and not in the server (as with Stop Loss or Take Profit). They will therefore not work if the terminal is off.

• No hedging with MT5:

On MT5 if you place a BUY trade on a pair, and then place a SELL trade on that same pair for the same volume (or vice versa), it will simply close the existing order.

• Trade netting

MT5 features trade netting, meaning that if you place a BUY trade for 1 lot on EURUSD, and then a second BUY for another lot on the same pair, the initial order will automatically become a BUY trade for 2 lots of EURUSD, rather than 2 separate trades. In this case a volume-weighted average price is calculated for the position: (Price of the first deal X Volume of the first deal + Price of the second deal X Volume of the second deal) / (Volume of the first deal + Volume of the second deal).

Reporting Trading Errors

When you report a trading error, send an email to support@housefx.com or call us directly by phone.

We will need the following information to be able to assist you in this regard:

  1. Your name
  2. Your account numbers
  3. Detailed description of the enquiry
  4. Your ticket/s number if applicable
  5. Your direct contact information
  • Any trading error on behalf of the client must be reported within 48 hours.
  • Any trading error generated by HouseFx will be amended guaranteed.

Important Notice:

  1. In the event of any dispute arising regarding the customer account/s and/or any open or closed positions within customer account, HouseFx has the right to internally investigate and audit this account/s including all open and closed transactions. Simultaneously, the account/s funds shall be frozen, and no transactions will be allowed until the dispute is completely resolved.
  2. HouseFx grants no guarantees to the client account and/or investment and/or funds.
  3. HouseFx has all rights to amend, change, delete, add, and modify spreads, fees, daily commissions, leverage, margin requirements, liquidation level (stop out level) and any offers for any accounts or any positions, at any time.
  4. HouseFx reserves the right to close any positions or accounts, at any time, without a prior notice.

Liqidation of Accounts

  1. According to the account type; when the margin level specification is reached this will be the stop out level and HouseFx will liquidate (close) all open position(s).
  2. Pending orders at liquidation level may not be deleted if there are sufficient margins on account to activate these orders.
  3. Pending orders at liquidation level will be cancelled if there are no adequate margins on account to activate the orders.
  4. HouseFx will not allow any account to go into deficit. Should this occur, HouseFx will adjust the balance to zero and HouseFx will cover the difference.
  5. Accounts may be liquidated according to the provisions within the Customer Agreement.

Scalping Rules

Definition: Scalping is a trading strategy based on one or all the following principles:

  1. Distance in pips between open and close price (Averaging five basis points or less over any 48hours period)
  2. Close range Timing between opening and closing positions.
  3. Frequency of trades in short time periods

The smaller the distance in pips between open and close price, the shorter the time between open and close positions, the higher the frequency of the trades, the more chances you will be qualified as a scalper.

Scalping is allowed under one or all the following conditions:

  1. Higher spread may apply.
  2. Lower leverage may apply.
  3. Commission may apply

Validity of this Policy

The latest published version of this policy on HouseFx.com website shall prevail.



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