City Markets Trading Conditions
Forex trading nowadays requires flexibility, speed, mobility, and cost efficiency. Our proposal to the traders combines all these. We understand that each trader has unique needs and for that reason our main account type will meet your unique trading needs.
We combine flexibility by offering unique trading conditions. We provide mobility with our award-winning platform with mobile trading and unlimited access from everywhere. Our data centers will provide you with uninterrupted connection. Cost efficiency is achieved with our business plan of keeping low our costs and thus clients’ trading cost remains low. Speed is achieved with our amazing technology solution supporting your trading activities.
Below we outline the key features or our solution encompassed on any account type you decide.
- Four Account types offered to start with, Junior ECN, Junior Standard, Master ECN and Master Standard. You can opt for your unique trading account type by contacting us. You can contact us by email: email@example.com, or Chat with now, or see Contact Us.
- Leverage up to 1:500. See Financial Products for more details
- No Requotes
- Hedging is allowed. You can hedge your trading positions by taking the opposite side, however when closing one of the hedging trades make sure the you meet the margin requirements to be able to close on or more hedged positions. Hedge accounts can still trigger Stop Out, under some market conditions, such us, news, spread widening, swap charges, margin requirement increase. City Markets maintains the right to close all or part of the hedged positions in order to avoid possible risk of negative balance.
- Minimum transaction level is start from 0.01
- No dealing desk, thus no-requotes. All trades are executed using STP mode (Straight Through Processing)
- Automated Trading. You can apply your own automated trading strategy using Expert Advisors
- Margin Call is at 100% for all account types. Once your account equity reaches the same level as your margin, you will not be able to open new positions. You are responsible for monitoring your account margin at all times.
- Stop Out is at 20% for all account types. Once your account equity reaches 20% of the level of your equity, the most unprofitable trade will close first.
- Pricing format starts from 0.1 pips. E.g for EURUSD 5 decimals points 0.12345 and for USDJPY 3 decimal points 0.123
- No commission charged for Junior Standard and Master Standard Account Type. Junior ECN and Master ECN have charges.
- Chart format: always the BID price is shown the charts and the charts are formatted based on BID prices. You can select in MT4 trading platform to show the ASK price as well.
- Minimum Deposit start from $5
Our daily operation time for trading is from 17:00 to 17:00 New York Time (EST) from Sunday to Friday which is equivalent to 00:00 to 24:00 Server Time, Monday to Friday, except the 25th of December and the 1st of January. During the Day Light Saving Time our operation and server time is adjusted according to the New York time (EST).
Our Order Execution Policy
This Policy applies when executing transactions with you for the Financial Instruments provided by City Markets. The Financial Instruments provided are derivatives of an underlying financial instrument, and it is up to the City Markets discretion to decide which types of Financial Instruments to make available and to publish the prices at which these can be traded. City Markets is always the counterparty (or principal) to every trade; therefore if the Client decides to open a position in a Financial Instrument with City Markets, then that open position can only be closed with the City Markets.
The Client is given the option to place the following orders for execution in the following ways:
- The Client places a Market Order which is an order instantly executed against a price that the Company has provided. The client may attach to a market order a Stop Loss and/or Take Profit. Stop Loss is an order to limit Client’s loss, whereas Take Profit is an order to limit Client’s profit.
- The Client places a Pending Order, which is an order to be executed at a later time at the price that the Client specifies. City Markets will monitor the pending order and when the price provided by the City Markets reaches the price specified by the Client, the order will be executed at that price.
The following types of pending orders are available: Buy Limit (an order to purchase a Financial Instrument at or below a specified price), Buy Stop (an order to buy a Financial Instrument, which is entered at a price above the current offering price; it is triggered when the market price touches or goes through the buy stop price), Sell Limit (an order to sell a Financial Instrument at a specified price or better), and Sell Stop (an order to sell a Financial Instrument when it reaches a certain price). You may attach to any Pending Order a Stop Loss and/or Take Profit.
The Client may modify an order before it is executed. The Client has no right to change or remove Stop Loss, Take Profit and Pending Orders if the price has reached the level of the order execution.
Best Execution Factors
City Markets takes all reasonable steps to obtain the best possible result for its clients considering the following factors when executing Clients orders against the quoted prices:
- Bid–Ask Spread
- Costs: For opening a position the Client may be required to pay commission or spread. Spread and commissions are disclosed on Trading Conditions in the Company’s website and/or at the Trading Platform.
- Speed of Execution: City Markets places a significant importance when executing Client’s orders and strives to offer high speed of execution within the limitations of technology and communication links.
- Size of order: The minimum size of an order is 0.01 lots. A lot is a unit measuring the transaction amount and it is different for each type of Financial Instrument. Please refer to the Financial Instruments for the value of each lot for a given Financial Instrument type. City Markets reserves the right to decline an order entered with the Client. City Markets makes every effort to fill the order of the Client irrespective of the volume. However, if this is achieved, it may be at a best available price. Could be different from declared price, based on the market liquidity at the time of execution.
- Market Impact: Some market factors may affect rapidly the price of the underlying financial instruments from the quoted price City Markets will take all reasonable steps to obtain the best possible result for its Clients. City Markets does not consider the above list exhaustive.
City Markets will monitor the effectiveness of the order execution policy and take corrective measures whenever necessary.