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Rules

RULES AND RESTRICTIONS OF CURRENCY TRADING AT AKMOS TRADE DEALING CENTER

1. How to open trading account

1.1. The Client shall enter an Information Service Agreement with the M BUSINESS SERVICE LLC.

1.2. Akmos Trade Ltd. shall open a secured deposit subaccount (trading account) in the Client's name according to the Client's application and Information Service Agreement.

1.3. The Client transfers to its trading account the funds to be used as a security deposit. The security deposit in the Client's subaccount shall secure the credit line for transacting business on FOREX market.

1.4. The account shall become electronically accessible on the banking day following crediting funds to Akmos Trade Ltd. account.

1.5. All subaccount operations shall be accounted in subaccount currency (U.S. dollars and Euro). The trading quotations of Akmos Trade Ltd., officially supplied to the global network GTIS Inc., shall serve as the sole basis for all calculations.

2. Basic Terminology and Characteristics of Trading Transactions

2.1. Terminology:

LOT
unit of transaction amount.
TRANSACTION
combination of two trading transactions resulting in conversion of funds from the base currency to the quoted currency and back.
BALANCE
amount in the Client subaccount after completion of last transaction.
FLOATING profit (loss)
floating (unrealized) profit (loss) on the open positions at current exchange rates.
STORAGE
rollover of open position to the next day charging or writing-off specific amount to/from the account depending on currency pair and position direction.
EQUITY
secured part of the subaccount considering open positions:
EQUITY = BALANCE + FLOATING.
MARGIN REQUIRED
indicator describing the amount of margin coverage for all open positions, calculated according to paragraphs 2.5 — 2.6of these Rules.
FREE MARGIN (for MetaTrader only)
funds free from liabilities on open positions:
FREE MARGIN = EQITY − MARGIN REQUIRED.
SHORT MARGIN (STOP OUT)
account state when a trader lose opportunity to manage account, and all open positions both profitable and unprofitable will be closed by the market maker at next available rate.
SPREAD
difference between sell and buy quotations presented in points.
GAP
jump price movements.

2.2. Maximum amount of initially placed security deposit is $50,000 or equivalent in Euro for accounts in Euro. Higher initial deposits shall require individual approval..

2.3. Most part of orders is executed automatically without dealer's interference (instant quotation) without requotes and slippage.

2.4. In case of sharp market movements and low liquidity for the declared amount the transaction terms can be preliminary stipulated with a dealer, what usually takes no more than 10 seconds.

2.5. Terms of standard lots trade in AFM are shown in Table 1.

Table 1.

Traded Currencies Indication Minimal Lot Amount Minimal Step Amount Margin Coverage per Lot Spread*
Euro/US Dollar EURUSD (EUR) 100,000 EUR 100,000 EUR 1,000 EUR 2
US Dollar/Swiss Frank USDCHF (CHF) 100,000 USD 100,000 USD 1,000 USD 3
US Dollar/Japanese Yen USDJPY (JPY) 100,000 USD 100,000 USD 1,000 USD 3
UK Pound/US Dollar GBPUSD (GBP) 100,000 GBP 100,000 GBP 1,000 GBP 3
US Dollar/Canadian Dollar USDCAD (CAD) 100,000 USD 100,000 USD 1,000 USD 5
Australian Dollar/US Dollar AUDUSD (AUD) 100,000 AUD 100,000 AUD 1,000 AUD 5
US Dollar/Swedish Krona USDSEK (SEK) 100,000 USD 100,000 USD 1,000 USD 4
New Zealand Dollar/US Dollar NZDUSD (NZD) 100,000 NZD 100,000 NZD 1,000 NZD 4
US Dollar/Icelandic Krona USDISK (ISK) 100,000 USD 100,000 USD 1,000 USD 35
Swiss Frank/Japanese Yen CHFJPY 100,000 CHF 100,000 CHF 1,000 CHF 5
UK Pound/Swiss Frank GBPCHF 100,000 GBP 100,000 GBP 1,000 GBP 5
UK Pound/Japanese Yen GBPJPY 100,000 GBP 100,000 GBP 1,000 GBP 6
Euro/Swiss Frank EURCHF 100,000 EUR 100,000 EUR 1,000 EUR 4
Euro/UK Pound EURGBP 100,000 EUR 100,000 EUR 1,000 EUR 1
Euro/Japanese Yen EURJPY 100,000 EUR 100,000 EUR 1,000 EUR 5
Euro/Canadian Dollar EURCAD 100,000 EUR 100,000 EUR 1,000 EUR 5
Euro/Australian Dollar EURAUD 100,000 EUR 100,000 EUR 1,000 EUR 5
Euro/Icelandic Krona EURISK 100,000 EUR 100,000 EUR 1,000 EUR 55
Australian Dollar/Japanese Yen AUDJPY 100,000 AUD 100,000 AUD 1,000 AUD 5
US Dollar Index USDX 100,000 USD 100,000 USD 1,000 USD 4
Gold/US Doll XAUUSD 100 ounces 100 ounces 1 ounce 10
Silver/US Dollar XAGUSD 5,000 ounces 5,000 ounces 200 ounces 100
Note:
* The spread amount is not guaranteed and can be changed if market moves rapidly (such as, large currency interventions).

2.6. Terms of trade in MetaTrader are shown in Table 2. MetaTrader gives to trade fractional lots with step of 0.1.

Table 2.

Traded Currencies Indication Minimal Lot Amount Minimal Step Amount Margin Coverage per Lot Spread*
Euro/US Dollar EURUSD (EUR) 10,000 EUR 10,000 EUR 100 EUR 2
US Dollar/Swiss Frank USDCHF (CHF) 10,000 USD 10,000 USD 100 USD 3
US Dollar/Japanese Yen USDJPY (JPY) 10,000 USD 10,000 USD 100 USD 3
UK Pound/US Dollar GBPUSD (GBP) 10,000 GBP 10,000 GBP 100 GBP 3
US Dollar/Canadian Dollar USDCAD (CAD) 10,000 USD 10,000 USD 100 USD 5
Australian Dollar/US Dollar AUDUSD (AUD) 10,000 AUD 10,000 AUD 100 AUD 5
US Dollar/Swedish Krona USDSEK (SEK) 10,000 USD 10,000 USD 100 USD 4
New Zealand Dollar/US Dollar NZDUSD (NZD) 10,000 NZD 10,000 NZD 100 NZD 4
US Dollar/Icelandic Krona USDISK (ISK) 10,000 USD 10,000 USD 100 USD 35
Swiss Frank/Japanese Yen CHFJPY 10,000 CHF 10,000 CHF 100 CHF 5
UK Pound/Swiss Frank GBPCHF 10,000 GBP 10,000 GBP 100 GBP 5
UK Pound/Japanese Yen GBPJPY 10,000 GBP 10,000 GBP 100 GBP 6
Euro/Swiss Frank EURCHF 10,000 EUR 10,000 EUR 100 EUR 4
Euro/UK Pound EURGBP 10,000 EUR 10,000 EUR 100 EUR 1
Euro/Japanese Yen EURJPY 10,000 EUR 10,000 EUR 100 EUR 5
Euro/Canadian Dollar EURCAD 10,000 EUR 10,000 EUR 100 EUR 5
Euro/Australian Dollar EURAUD 10,000 EUR 10,000 EUR 100 EUR 5
Euro/Icelandic Krona EURISK 10,000 EUR 10,000 EUR 100 EUR 55
Australian Dollar/Japanese Yen AUDJPY 10,000 AUD 10,000 AUD 100 AUD 5
US Dollar Index USDX 10,000 USD 10,000 USD 100 USD 4
Gold/US Doll XAUUSD 10 ounces 10 ounces 0.1 ounces 10
Silver/US Dollar XAGUSD 500 ounces 500 ounces 20 ounces 100
Note:
* The spread amount is not guaranteed and can be changed if market moves rapidly (such as, large currency interventions).

2.7. Minimum value of EQUITY / MARGIN REQUIRED for opening a new position is (considering the position to be open):

For MetaTrader it is always 1.0.

For AFM:

  • 0.5 when MARGIN REQUIRED is less then or equal $20,000.
  • 1.0 when MARGIN REQUIRED is equal $20,000.01 or higher.

2.8. SHORT MARGIN occurs when EQUITY / MARGIN REQUIRED is equal or less than:

For MetaTrader it is always 0.2.

For AFM:

  • 0.2 when MARGIN REQUIRED is less then or equal $20,000.
  • 0.5 when MARGIN REQUIRED is equal $20,000.01 or higher.

2.9. Hedging (locking) of an open position is allowed - opening of equal by volume, but differently directed positions for one currency pair. The margin coverage for each pair of locked lots is equal to that of one lot.

2.10. The STORAGE shall be charged only if an open position is kept through 12 a.m. Mid-European time (2:00 a.m. Moscow time). The amount is calculated according to SWAP rules.

2.11 The account balance accrues interest according to US Fed interest rates for accounts in USD, and ECB interest rates for accounts in Euro. The interest is disbursed at the beginning of each month for the previous month in the amount equal to 1/365 for each day. The interest is paid only if it is not less than one US Dollar and one Euro respectively.

3. About Trading Transactions

3.1. When the market is quiet, the client trades by quotations he/she sees at AFM trade terminal screen, or in “Market Watch” window of MetaTrader trade platform. Orders are executed exactly in accordance with the price declared in the order. The Client using the electronic access may issue the following trading orders:

  • MARKET — perform transaction at the rate currently available on the market.
  • STOP — perform transaction when the market rate reaches a specified value.
  • LIMIT — perform transaction at the rate not worse, than the specified rate.

If electronic access is not possible, the Client may verbally over the phone (the procedure of trading by phone is described in Section 6 of these Rules) issue the following orders related to open positions handling:

  • CLOSE — close a position;
  • LIMIT — set limit / cancel limit for a position.
  • STOP — set stop / cancel stop for a position.

Any other orders are not allowed and shall be automatically rejected.

3.2. The Client shall be fully liable for password safekeeping and shall acknowledge the authenticity of all electronic orders entered with the use of his/her passwords until due notice of loss thereof.

3.3. Executed orders can not be cancelled, modified or withdrawn. All changes related to the corrections of previous transactions made, including due to technical failure, at non-market quotations shall be performed through corresponding increase/decrease of the account balance.

3.4. Placement and execution of the pending order STOP or LIMIT. Warning: these terms are different in AFM and MetaTrader.

AFM

3.4.1. STOP / LIMIT orders may only be placed or cancelled during trading hours.

3.4.2. For open position the scope between the current market price and the price of STOP or LIMIT order is limited only by the amount of the current spread. In case of high volatility and low liquidity of the market before the release of some news or the end of trading day the Company has the right to increase the value of minimal difference between the order price and current price of quotation.

3.4.3. If the price of the pending order got into a gap or zone of high volatility, LIMIT is always executed at the price declared in the order. STOP order is executed at the specified in the order price, provided there was enough time between the moment of order placement and the moment of its potential execution; otherwise, STOP order is executed according to the MARKET order rules.

3.4.4. If the first market quotation after a gap differs from the price of pending open order more than by 20 points, the order will be cancelled.

MetaTrader

3.4.5. The placement of the following order types for position opening (pending orders) is possible in MetaTrader trade platform:

  • “Buy Stop” — the Client wants to buy at higher than the current price at the moment of order placement;
  • “Sell Stop” — the Client wants to sell at lower than the current price at the moment of order placement;
  • “Buy Limit” — the Client wants to buy at lower than the current price at the moment of order placement;
  • “Sell Limit” — the Client wants to sell at higher than the current price at the moment of order placement.

The following orders can be used for closing the position:

  • “Stop Loss” — the Client wants to close the previously opened position at the price less profitable than the current price at the moment of order placement;
  • “Take Profit” — the Client wants to close the previously opened position at the price more profitable than the current price at the moment of order placement;
  • “If Done” — Stop Loss and/or Take Profit orders which are activated only after the related pending order is executed.

The orders can be placed or cancelled only during trading hours.

3.4.6. The minimum spread at which normally you can place orders is equal to the spread of the traded currency pair. In case of abnormal market state with high volatility and low liquidity before the release of some news or the end of trading day, this spread can be increased for orders of any type.

3.4.7. In case of gap and high volatility:

  • Take Profit (T/P), Stop Loss (S/L) and Limit orders are executed at the price specified in the order;
  • Buy Stop and Sell Stop orders for opening the position are executed at first available prices in the market.
  • Pending orders simultaneously with the broken levels of activation, and Take Profit are cancelled with the mark “Cancelled/gap”.

3.5. Directly before the release of important macroeconomic indicators, or significant political news the Company has the right not to accept orders for cancellation or placement of the pending orders.

4. Settlement

4.1. Withdrawal requests and corresponding correction of the account shall only be processed in the absence of open positions.

4.2. Transfer of funds shall be effected within the 3 banking days after the receipt of the duly drawn up instructions.

4.3. Upon receipt of a payment order from the Client, the subaccount balance (BALANCE) on the date of such receipt during business hours shall be reduced by the amount of funds being withdrawn.

4.4. If the the subaccount should be closed, the transfer of funds including the balance of the account will be effected during the 10 banking days following the receipt of the appropriate instructions, but not earlier than one calendar month after the opening date of the account.

4.5. The money transfer expenses incurred at reimbursement shall be borne by the Client by subtracting the amount of expenses from the amount transferred. Expedient transfers can be performed by request.

4.6. As the executor of his/her subaccount, the Client has the right to issue orders of trading nature only as well as orders related to the reimbursement of the funds.

4.7. Subaccount closing shall be construed as the termination of the Agreement.

5. About Powers and Responsibilities of Akmos Trade Ltd.

5.1. The Client delegates to Akmos Trade Ltd. as his/her agent and attorney-in-fact the authority for buying, selling, and other operations on FOREX market. To this effect, the Client delegates to Akmos Trade Ltd. the authority to open or close the corresponding positions in accordance with his/her (the Client) electronic orders. The Client is hereby notified and agrees that all transactions shall be executed in his/her name, at his/her expense, risk, for the same terms and results as if he/she would execute said transactions directly in person.

5.2. The Client shall approve any and all operations being executed in accordance with his/her electronic instructions.

5.3. The Client is hereby notified and agrees that Akmos Trade Ltd. is not responsible for consequences of action or inaction of the Client (or his/her authorized representative) associated with executing trades on FOREX market.

5.4. The Client shall be personally responsible for the status of his/her account and confirms that the responsibility shall last until closing of the account.

5.5. The Company reserves the right to modify these Rules. In case such modifications are deemed to worsen the conditions of trading, the Company shall notify the Client 5 business days in advance of putting the modifications into effect.

5.6. This authority of Akmos Trade Ltd. shall be durable, shall remain in effect absolutely and entirely until the receipt by Akmos Trade Ltd. of a written request for the Agreement termination or subaccount closing.

5.7. Should a dispute arise concerning the Client subaccount status, the parties will examine the Client operations log in the form of dealing center printouts.

6. Trading instructions by phone

6.1. The Client may issue the limited (see p. 3.1) orders by phone, should it's impossible to perform through trade terminal.

6.2. Execution of client requests and orders is available only after dealer identified the client.

When the Dealer confirmed the access to the account, the Client shall clearly put the essence of the trade operation — insert/modify/delete the order, close the positions indicating the tool, transaction amount, and order or position number.

The Dealer shall either confirm the operation, or advise the Client of failure to execute it.

Besides, the Client may check by phone the account status, and current price for each traded currency pair.

6.3. If the Client discloses the identification data (account numbers, passwords, logins etc.) to a third person, the Client becomes responsible for execution of transactions on behalf of the Client as well as financial result of such transactions.

The telephone conversation of the Client with the Company's operator can be recorded to manetic or electronic carries and used in case of disputes.

Telephone transactions are executed only during market working hours.

I have read and understood the Rules and agree absolutely.
Client:
/_________________________/
“__”____________200_
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