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PRECIOUS METAL

OVERVIEW TRADE RULES
Rules of Kerford London Gold London Silver
Contract Unit 100 ounce/hand 5000ounce/hand
Lowest price volatility $ 0.01 $ 0.001
The minimum and maximum volume of transactions per order 0.05hand min.
1000hand max		 0.05hand min.
1000hand max
Price difference $ 20 / hand $ 120 / hand
Trading bond $ 1000 / hand $ 650 / hand
Overnight interest Investors buy or sell London gold or silver but did not close trade within the day, interest arose when the day of settlement.
All time of trading platform is Beijing time, clearing time is 04:00 am Beijing time. Suppose you place an order before 03:59 am Beijing time and hold the order after 04:00am, there will be overnight interest. Time is shown in the system to display the record as a quasi. Interest is delayed to liquidate in accordance with the T + 2 international banking practice, that is, start to calculate after 2 working days. Usually if customers hold positions on Wednesday, he will be charged three times of the overnight interest rate.
Close order by force/pending
order/loss stop/surplus stop		 When the ratio of margin in the client's account is equal to or less than 30%, the system will force to close orders from the biggest losing order until the ratio of trading bond returns to 30%.
Order of limited price/order of loss
stop/order of surplus stop		 In the precious metals market, sometimes the price fluctuate fiercely, which is called "quick market". The quick market may be caused by a variety of factors, including but not limited to data of the non agriculture income and the sale of order imbalance, namely an order (such as buying) was significantly higher than that of the other order (e.g. selling).
In the quick market, price fluctuates dramatically, the London gold / silver will appear price gaps. The so-called price gaps mean that, when the price rise or dive into a new quote from the last bid / ask price without any trading at any price between these quotations, this situation is called price gaps.
The implementation of pending order and order of stop loss and profit.

1.In normal market conditions: the market price and the entrusted price is the same, finally conclude a deal according to the customer’s entrusted price.

2.in market volatility, market price appears big gap under sharp volatility ,and skip the request price. Pending orders will make deal according to a most favorable and execution price after price trigger . This is called "quick market". The quick market may be caused by a variety of factors, including but not limited to data of the non agriculture income and the sale of order imbalance, namely an order (such as buying) was significantly higher than that of the other order (e.g. selling).In the quick market, price fluctuates dramatically, the London gold / silver will appear price gaps. The so-called price gaps mean that, when the price rise or dive into a new quote from the last bid / ask price without any trading at any price between these quotations, this situation is called price gaps.. For example, London gold buying price / sell price rose to1620.50 / 70 from 1600.50 / 70 , and there is no deal in between these offer, but directly began trading at the price of 1620.50/ 70. In this case, if the market has been in trade at a specified price, then orders of loss stop / surplus stop/ limited price will execute at a specified price, or execute according to the next market price. Regardless of how much volume

3.When there is important economic data released, influenced by market liquidity or volatility, market risk will be significantly increased. Arrangements about the pending order time:
a. 10 minutes prior to the release of the important data or major news, until after the release of 5 minutes, the transaction platform suspended accept new pending order and change of pending instructions, but can cancel the existing pending order.
b.30 minutes prior to the release of important data or major news, trading platform will increase price of pending order (including order of the profit stop/ loss stop), the actual increase in value will depend on the existing market liquidity and volatility.
c.Under normal circumstances, we will try to implement your pending order and order of loss stop/profit stop in accordance with the original price, but when the market is in volatility , your pending order may be unable to deal at the set price. If the price gap
Validity of pending order and order of loss stop/profit stop Pending order and order of stop loss and profit stop can be set valid for a period of 1 week, At weekend, all unopened pending orders and all the unimplemented taking to stop loss will be cancelled. If necessary, customers can reset on Monday after the market
Trading hours Summer time: Monday 07:00 to Saturday 04:00
winter time: Monday08:00 to Saturday 05:00