TRADING TERMS & CONDITIONS

Phoenix AmeriCapital Exchange is a global foreign exchange broker established on an entrepreneurial vision to provide top-tier services that cover trading and investment on financial markets for both individual and corporate clients.

STOP-OUT LEVEL
PACT-EX’s trading platforms are set to automatically close open positions when the stop-out level is reached. For all accounts, when the equity in trading account falls below 50% of the required margin, the stop-out level will be reached, and PACT-EX will automatically close open positions at its opening prices, releasing in the order of highest to lowest margin until the margin level is reached.

When the market is experiencing swift fluctuations, there is no guarantee about the order of stop out. Instant adjustments may be made by PACT-EX to instant market situation, clients are responsible for risks that may arise thereof. PACT-EX reserves the right of final explanation concerning the order of stop out.

Please note that when there is a hedged position in the account, instant widening of spread may cause equity change. If that leads the equity to drop into negative, stop out will be intrigued as a result.

MAXIMUM LOTS PER CLICK AND MAXIMUM OPEN POSITIONS
Restricted by market depth and for risk control, Maximum Lots per Click and Maximum Open Positions are as follows

PENDING ORDERS
Clients shall calculate the account equity when reaching the pending order price, to maintain required real-time margin for the execution of pending orders. While pending orders would be automatically cancelled if the margin level is not enough for the execution of the transaction when the price level has been reached.

HEDGED POSITIONS
Hedged-position function is available on PACT-EX’s MT4 trading platforms. Customers can choose whether to open hedged-position function (long/short) when opening accounts which does not use margin. Please be careful not to hold more than one hedged position at the same time to avoid possible risks. Holding a hedged position does not lock the profit/loss or guarantee the position. When the spread is widening market situations, hedged positions would affect the account equity. In the case of open positions, it would further affect the rate of equity to margin, which may result in stop out in extreme situation. For example, for one standard lot of hedged position of EURUSD, 1 point of increase in market spread would result in floating loss of USD10 in account equity. Possible market conditions where spread widening may occur include opening hours, closing (interest accrual) hours, news and data hours, holidays, thin market with large market entry, fluctuating market and other special market conditions. In addition, buy and sell orders of the hedged positions are accrued normally. However, PACT-EX does not recommend hedged positions.

ORDER EXECUTION
Quotes by PACT-EX fluctuate with market conditions.

In the case of special market conditions (e.g. data, news, market opening and closing hours), there may be a gap or widening spreads in the international market. On this occasion, the trading server does not guarantee the executing price. Orders would be executed in accordance with trading conditions or spreads at the time.

For positions open during weekends or holidays: aftermarket closure on weekends or holidays, if the exchange rate fluctuates significantly and leaves a gap before the reopening of the market due to news, events or other factors, your orders may not be able to be executed at the pre-set stop loss price. On this occasion, orders would be executed at real-time market price, or stop-out may be executed when margin level is not maintained. In consideration of possible gaps, you need to decide whether to close your position or wait until the market opens again before the market closure.

If any disputes shall arise regarding order execution, please feel free to contact our 24-hour online customer service or call our 24-hour hotline, our customer service staff will notify the trading desk in real time. If you are not satisfied with the result, please email our technical department with your account number, order number, result and your opinion. If you hold an open position, please close the position and appeal based on your trading intention. If the order is retained out of your will, you shall take full responsibility for profit and loss caused due to fluctuations in the market during the complaint period. PACT-EX reserves the right of final explanation of this statement.If your account has not been trading for three consecutive months, it will be archived as inactive. For inactive accounts, PACT-EX may charge a monthly maintenance fee of $60 each month.