Gold & Silver Contract Details：
|Lot Size||100 Ounces||5,000 Ounces|
|Product Spread||US$ 0.5||US$ 0.04|
|Lot Size for each Single Order||0.05 lots - 20 lots|
|Initial Margin||US$2500 Per lot||US$1500 Per lot|
|Over Night Interest||
Buy: Cost 2.2%
*Refer to the trading platform
|Trading Hours||Summer Time: Monday 07:00 to Saturday 03:00
Winter Time: Monday 07:00 to Saturday 04:00
* Day End Time
Summer Time: Everyday 05:00
Winter Time: Everyday 06:00
* USA Summer Time: From 2am, the second Sunday in March to 2am, the first Sunday in November.
* USA Winter Time: From 2am, the first Sunday in November to 2am, the second Sunday in March.
Precious Metals Trading Notes：
Through the online trading platform or mobile platform during trading hours
Market Order: Buy or sell at market price.
Limit Order: An order to buy or sell a product at the maximum or minimum price.
Stop Order: An order to buy or sell a product when the current market price surpasses the order price.
OCO Order: OCO orders combine a limit order with a stop order. A pair of orders that when the stop order or limit order is executed, the other order will be cancelled.
If..Then Order: If...then order consists of two orders. If the first order is executed, the other order will be placed.
Apart from market order, clients can set all types of orders on different expiration dates. Orders can expire:
|Limit / Stop Order Level||
Apart from market orders, limit orders and stop orders level will be restricted by the system.
Liquidation Margin Level
When the account equity equals to 20% of used margin, the system may close current open positions, starting form the most unprofitable trade, at current market price. The process may continue until the account equity reaches above 20% of used margin.
Lock Positions Margin
This refers to holding the same product, in the same amount, but in opposing positions. Lock positions require a 25% initial margin.
* To unlock a locked position, 100% of initial margin is required.
Weekend Margin Requirement
For clients who have open positions of 10 lots or above and the account equity falls below 100% of initial margin, iGlobal may close the open positions at market price without prior notice until the margin reaches above 100% of initial margin on:
* Every last trading day (Friday) of the week;
* The trading day before holiday (market closed), and
* 10 minutes before market closed