TeleTrade advises its clients that there will be technical operations to change the contract size for multiple Forex instruments
Please be advised that technical operations of changing the contract size for a number of Forex instruments will take place on June 5, 2017, 00:00-01:00 (Server time).
A change to the contract size from 150 000 to 100 000 units of the base currency will be implemented for the following instruments: AUDCAD, AUDCHF, AUDNOK, AUDNZD, AUDSEK, AUDSGD, AUDUSD, CADCHF, CHFSGD, EURAUD, EURCAD, EURCHF, EURHUF, EURNOK, EURNZD, EURPLN, EURSEK, EURSGD, GBPCHF, GBPDKK, GBPNOK, GBPSEK, GBPSGD, NZDSGD, NZDUSD, USDCAD, USDCHF, USDDKK, USDHUF, USDMXN, USDNOK, USDPLN, USDSEK, USDSGD, USDZAR.
Please note that the size of trades for open positions will be changed in proportion to the change of the contract size, i.e. the size of a trade will be increased to 1.5 times its initial size in lots. For example, if at the moment of executing a trading operation you have 5 lots open on USDCHF, which is equivalent to 750 000 USD, then after implementing the said changes in the contract size, the size of this open position will be 7.5 lots, which is equivalent to 750 000 USD.
In a number of cases due to inability to change the size of a trade in full proportion, the newly calculated size of an open position will be rounded to one size increment (0.1 or 0.01, depending on the account type) according to the following principle:
- If at the moment of carrying out the operation to change the size of a client's trade, there is a floating profit in the open trade, then the rounding is upward, which automatically leads to an increase in the nominal size and respectively in the profit of this trade. For example, a client has an open trade on USDCHF, with the size of 2.5 lots (375 000 USD). The size increment for USDCHF is 0.1 lot. Upon carrying out the operations to change the contract size for this open position, there is a floating profit. Thus, after carrying out the technical operations, the size of the open trade will be 3.8 lots (380 000 USD).
- If at the moment of carrying out the operation to change the size of a client's trade, there is floating loss in the open trade, then the rounding is downward, which automatically leads to a decrease in the nominal size and respectively in the losses of this trade. For example, a client has an open trade on USDCHF, with the size of 2.5 lots (375 000 USD). The size increment for USDCHF is 0.1 lot. Upon carrying out the said operations for this open position, there is floating loss. Thus, after carrying out the operations to change the contract size for such open trade, the size of the open trade will be 3.7 lots (370 000 USD).
We encourage you to take into great consideration this notification.
If you have any questions please contact our technical support team.
Wishing you successful trading!
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