1. Transaction currency: USD
2. Transaction method: To open a trade, it will require a collateral amount known as margin, Margin is not a cost or a fee, but it is a portion of the customer's account balance that is set aside in a trade. To maintain existing positions or to open a new position, the available account balance must be equal to or more than the initial margin in order to open any new position.
3. Order type:
● Open a position: You can place limit orders, market orders, stop market orders, and stop limit orders.
● Close a position: You can place market orders, or use take profit/stop loss.
4. Order lot limit:
● Maximum: A single order may contain up to 10 standard lots, which is equal to 1,000,000 units of the base currency.
● Minimum: A single order may contain as little as 0.01 standard lot, which is equal to 1,000 units of the base currency.
5. Position mode: hedging mode, meaning that locked positions are allowed. Please also note that:
● If you hold the original and hedged positions overnight, a negative swap may occur (meaning that the swap payable is higher than the swap receivable).
● The orders to open or close the original and hedged positions are processed separately.
● When holding the original and hedged positions, you only need to maintain the margin of the position with a larger size.
6. Settlement method:
● Daily settlement
● Time of settlement:
○ Daylight Saving Time: 5:00 (SGT)
○ Standard Time: 6:00 (SGT)
7. Operation mode:
● Unless otherwise specified, moomoo SG enters into FX Transactions with you as principal using the 'straight-through processing' mode. Where moomoo SG acts as principal, moomoo SG acts as the counterparty to your FX Transaction. Where moomoo SG acts as agent, the FX contract is entered into by moomoo SG on your behalf with a third party.
● We adopts the straight-through processing for all orders from its clients. It means that all the client orders will be submitted to and filled with the LP before they are filled with clients and execution prices are determined. The LP is an affiliate of moomoo SG.