This Policy for Giving, Processing and Execution of Client Orders for Underlying Asset Price Fixing in Transactions with Non-Deliverable Over-the-Counter Financial Instruments (hereinafter – the “Policy”) has been developed in compliance with the Decree of the President of the Republic of Belarus dated 04.06.2015 No. 231 On Carrying Out of Activities on Over-the-Counter Forex Market, the Charter and other bylaws of Leverate Capital Markets LLC (hereinafter – the “Forex Company”) to establish general procedure for giving, processing and execution of Client orders for underlying asset price fixing in transactions with non-deliverable over-the-counter financial instruments.
Leverate Capital Markets LLC is entered on the Register of Forex Companies which is confirmed by Certificate of Inclusion on the Register of Forex Companies of 11.03.2020 No. 21 issued by the National Bank of the Republic of Belarus.
The Client’s orders for underlying asset price fixing in transactions with non-deliverable over-the-counter financial instruments (hereinafter – the “Orders”) shall be given, processed and executed via the Forex Terminal.
The Forex Company shall notify the Clients of any amendments to the Policy not later than 10 calendar days before such amendments enter into force by posting respective information at the Forex Company’s website in the Internet global computer network.
For your benefit and protection, please make sure that you allow sufficient time to read this and any other additional documentation and information available at our website fxpn.by before the account opening and/or carrying out any activity with us. Please contact us for further clarifications or seek independent professional consultation (if necessary).
1.1. Transactions with non-deliverable over-the-counter financial instruments (hereinafter referred to as the “Transactions”) are carried out by the Forex Company on the basis of the Client Agreement concluded with the Client (hereinafter – the “Agreement”). Under the terms and conditions of the Agreement the Forex Company assumes obligations to carry out the Transactions initiated by the Client on its own behalf and at its own expense. Unless otherwise specified, terms and definitions used in this Policy have the same meanings as in the Terms and Conditions of Transactions with Non-Deliverable Over-the-Counter Financial Instruments in Leverate Capital Markets LLC (hereinafter – the “Terms and Conditions”).
1.2. In order to exercise rights and perform obligations imposed on the parties by the Agreement and this Policy, the Forex Company shall open Accounts to the Clients to be used for carrying out of the Transactions in the Forex Terminal.
2.1. There are two types of Orders for the underlying asset price fixing: Market and Deferred Orders.
2.2. Market Order is an order for the underlying asset price fixing at the current price. Execution of this Order leads to a position opening or closing at the current moment. Giving a Market Order for the position opening, the Client may, at the time of giving such order and at any moment after the position opening, create Deferred Orders for the position closing when “Stop loss” and/or “Take profit” levels are reached. At the moment of giving the Order for execution a specific price requested by the Client may be unavailable. Thus, Order will be executed close to the requested price or will differ by several pips from it. Situation when execution price is better than the price requested by the Client is called "Positive slippage". On the contrary, situation when execution price is worse than the price requested by the Client is called "Negative slippage".
2.3. Deferred Order is an Order for the position opening in the future at the price established in such order. This Order is used to open the position provided that the future quotations reach the price of underlying asset established by the Clients in the specific Order.
2.4. Any Order (market or deferred) is always an Order to buy or to sell. Purchase always takes place at the price Ask, while sale – at the price Bid, corresponding to the current market price.
2.5. Market and Deferred Orders shall be accepted and executed according to the transaction schedule for the selected financial instrument.
2.6. The accepted Deferred Orders for the underlying asset price fixing shall be valid unlimitedly, unless cancelled by the Client or executed, or closed due to insufficient margin security.
3.1. Leverage for each underlying asset (group of underlying assets) is specified at the Forex Company’s website fxpn.by, as well as in the news and messages about the Leverage changing.
3.2. The Client shall deposit and maintain margin security required for opening of the positions and/or margin security for locked positions in the amount established by the Forex Company.
3.3. Margin security for locked positions shall be fixed at the moment of position opening.
3.4. The Forex Company is not responsible for forced position closing at the Client’s Account due to untimely arrival of margin security to the Client’s Account.
4.1. The Forex Company provides an opportunity to the Client to carry out Transactions in the Forex Terminal with the Instruments under the terms and conditions set forth by this Policy, the Agreement, the Terms and Conditions, at the Forex Company’s website and/or specified in individual agreements between the parties.
4.2. The Forex Company reserves the right to alter the terms and conditions for carrying out of the Transactions in the Forex Terminal unilaterally before weekends and holidays, as well as at low liquidity subject to the provisions of the Agreement and the Terms and Conditions.
4.3. Margin security level value for the position opening (with regard to the position to be opened) shall be at least 100% (hundred percent) in the Forex Terminals using this concept. Each Open Position in the Forex Terminal will be assigned a Ticket.
4.4. Material conditions of any Transaction in the Forex Terminal to be agreed upon are as follows:
4.5. Communication between the Client and the Forex Company with the aim to agree the Transactions in the Forex Terminal takes place in the form of requests, suggestions and/or confirmations sent by the Client, and replies to requests, as well as confirmations, reports and abstracts sent by the Forex Company. The documents and messages specified in this clause shall be formed, delivered and logged with the help of the Forex Terminal.
4.6. Agreement of material conditions of Transactions in the Forex Terminal may be performed only during the Transaction Day and by exchange of messages in the electronic form via the Forex Terminal connected to the Internet global computer network.
4.7. At the time of Position Opening a commission for respective Transaction in the Forex Terminal may be written off from the Client’s Account depending on the type of Forex Terminal and/or Instrument. Types of commissions and the order of calculation thereof are set forth by the Terms and Conditions. In conflicts, server data prevails.
4.8. In the absence of the effective price for the Instrument on the server of the Forex Company, no Transactions may be executed in the Forex Terminal with this Instrument.
4.9. The Forex Company may establish and change conditions for carrying out of Transactions, including volume limits, Open Positions, Execution Types, Stop-out level, Margin requirements, commissions, timing, etc., and may deny servicing or access to the Forex Terminal.
4.10. The Client agrees that orders may be left unexecuted or partially executed when instrument liquidity is insufficient.
4.11. The Forex Company may suspend Client access if non-productive load is generated (e.g. via robots/advisors).
4.12. The Forex Company may forcibly close the Client’s Open Positions where provided for by the Terms and Conditions.
4.13. Accepted deferred orders remain valid until cancelled, executed, closed due to insufficient margin, or cancelled by liquidity provider.
4.14. The Client may not change or remove effective and deferred orders if the price has reached the execution level.
4.15. Transactions at non-market quotations shall be cancelled. Cancellation means restoring account parameters to pre-transaction values.
4.16. In unforeseen situations (technical failures, force majeure) preventing determination of current results, the Forex Company may cancel orders executed during the failure. No compensation for lost profit.
4.17. If transactions at liquidity provider side are cancelled, the Forex Company may cancel corresponding Client transactions. Confirmation is provided within two days.
4.18. The size of spread, swap and other commissions for all underlying assets is specified at the Forex Company’s website.
5.1. “Social” tab in Sirix platform provides real-time access for clients to transactions made by others in Sirix community. It contains last 100 current transactions and pending orders. Statistics are available to help clients select suitable examples for copying.
5.2. Registration in the community: Clients register with a nickname and avatar, accept terms and click “Join”. Country flag may appear.
5.3. Rating: “Leaders” window shows top 10 clients. Algorithm considers account age, annual profit/loss, and drawdown. Info updates every 10 minutes or on demand. Other windows show transactions, categories, and statistics.
5.4. Client search: Search by nickname or filter by “Top best”, “Most popular”, “Most profit-gaining”, or use advanced filters like profit/loss, success rate, max drawdown.
5.5. Client’s profile viewing: Profiles include nickname, avatar, profit/loss schedule, last 12 transactions, copy/observe buttons, statistics (days in system, success rate, avg. daily P/L, max drawdown, best/worst positions, risk level).
5.6. “Offers” section suggests up to 6 clients from “Most profit-gaining” and “Most copied”.
5.7. Portfolio: Shows client’s transaction summary (table/diagram) for selected period, with breakdown by asset and performance.
5.8. Community: Shows relationships: Observers, Observed, Copied, Copying.
5.9. Positions: Displays opened, incomplete, and closed positions for the previous year with full details.
5.10. Automatic copying: Clients can allocate funds for copying, while still trading manually. Rules cover fund limits, liquidity, volatility, and execution differences. Examples provided for proportional allocation.
5.10.1. Fixed amount copying: choose a set amount per transaction instead of proportional copying. Copying and cancellation procedures are described.
5.11. Situations where copied transactions may fail: position closed, position opened before copying started, lack of permission for asset, volatility, or account restrictions.
6.1. Although the Forex Company transfers the Clients’ orders to external liquidity providers, it remains the only counterparty for its Clients in respect of execution of orders.
Working time: 24 hours from 22:00:01 GMT Sunday to 22:00:00 GMT Friday.
Non-working time: from 22:00:01 GMT Friday to 22:00:00 GMT Sunday.
Holidays will be reported via Forex Terminal internal mail.
Leverate Capital Markets LLC, registration number 193295922, included into the Register of Forex Companies kept by the National Bank of the Republic of Belarus on 11.03.2020, certificate No. 21, legal address: 69a-2 Minskaya str., office 34, Kolodischi, Kolodischi R/C, 223050, Minsk Region, Republic of Belarus