FIBO Group Holding is one of the biggest players on the Forex, which unites millions of traders. And the company has its own rules of Forex trade, which have to be followed, while cooperating with FIBO Group.
The company offers the traders the smallest lots on the market. The smallest lot of FIBO Group is 1,000 units of the basic currency, as the minimum lot costs 1%of the standard Forex lot, which is worth 100 000 units of the basic currency. If you trade with the lots, which volume is from 0.01 to 0.09, there is a limitation for the frequency of making transactions, i.e, you can conclude not more than one deal per second. The company also can stop to accept and change deferred Stop orders3 minutes before issuing important news of the world economyand politicsand significant macroeconomic statisticsindicators.
Plotting also requires following some rules. If you are going to draw a price chart Bid price is the basic for both the highest price, and the lowest price in case that you use MetaTrader 4 terminal. As it is determined by the mentioned Forex broker, the instrument’s spread is the measure for minimum distance, at which you are allowed to place orders(stop-loss, take-profit, andpending). Ten minutes before issuing the economic and political news and significantmacroeconomic statistics indicators, a minimum distance for stop-lossorders can be raised up to 10 spreads. Thirty minutes before closing of trading a given level for stop-loss orders increases up to 25 spreads. A given rule is true for opening of pending and market orders with the preset stop-loss value, falling in the range of the mentioned spreads, as well. You must remember that MetaTrader 4 doesn’t allow changing the value of stop-loss and take-profit separately; therefore, the attempt to modify thetake-profit whenstop-loss is set already will be automatically blocked.
There are also some marginal requirements which a trader has to take into account. Thus, if current balance (with open positions) will be worth 20% of the margin, or even less, a dealer has the right to close any or all open positions for the maintenance of margin requirements.On holidays or weekends margin requirements may be raised.
Before starting to trade with FIBO Group a novice must to be aware of the listed rules and know what to do this his Forex account.