FxPulp Trading Policy

Accounts Holders Types

• FxPulp trading accounts are available to individual investors and individuals who wish to open a joint trading account, as well as to institutions and companies. All such accounts holders are referred to hereinafter "the Client".
• Individual clients and individuals who wish to open a joint account can open a Standard-Mini account, or Micro.
• Institutions and companies can only open a Standard-Mini trading account.

Trading Accounts Types

• FxPulp offers two main types of trading accounts: Standard-Mini trading accounts, and Micro trading accounts.
• Client can open a Standard-Mini trading account on MetaTrader platform and/or CITTrader platform.
• Micro trading accounts can be opened only on CITTrader platform. Micro Trading accounts are not available on MetaTrader platform.
• The minimum accepted initial deposit to open a Standard-Mini account is one hundred US dollars (100 USD).
• No minimum initial deposit is determined to open a Micro account.
• Client must determine the required account type in writing by filling and signing the related form, and send it along with the required documents for opening a new account.
• The basic options and features of each account type are available within this general trading policy herein and as part of the Accounts Types Policies webpage as well.
• FxPulp may from time to time offer other trading accounts types as part of its new offers, facilities, and services, and will be subject to their own Terms and Conditions applicable at the time.
• Client is held responsible for regularly reviewing the available options and features and/or related information of the offered trading accounts on FxPulp official web site: www.fxpulp.com.

General Trading Rules

• Trading transactions are executed online through FxPulp Trading Platforms: MetaTrader, and CITTrader.
  
• Trading transactions are executed, and prices are quoted only during the Trading Hours specified for each financial market as illustrated in FxPulp Products Specifications.
• Trading transactions requested via phone can be accepted and executed only in emergencies and directly from the account holder himself/ herself upon confirming all necessary information.
  
• Trading via phone in emergencies is only allowed for Standard-Mini accounts. No trading command will be accepted via phone for micro accounts.
  
• Any system failure may result into the failure of executing the order properly or not executing it at all. Pulp International Business Ltd "FxPulp" is not held responsible for such cases.

Accounts Leverage Options

• The default leverage for Standard-Mini accounts when the account is opened is 1-100.
• The default leverage for Micro accounts when the account is opened is 1-500.
• Client may request to change the default leverage (1-100) on his/ her Standard-Mini trading account into 1-1, 1-50, 1-200, or 1-300.
• Client may request to change the default leverage (1-500) on his/ her Micro trading account into 1-100, 1-200, 1-300, or 1-400.
• The request is made by filling and signing the related form.
• Click Here to download the "Change Leverage Form".
• The filled and signed form must be sent via email to backoffice@fxpulp.com or fax +357 25 366326.
• In order to change the leverage, all open positions, if any, must be closed.
• Upon receiving the leverage changing request, and if any open positions were found, the leverage will not be changed until the client closes all open positions.

Traded Financial Instruments

• Available financial instruments are as specified in FxPulp Products Specifications, and according to the related group of Order Execution Rules (Regular Traders and/or Exceptional Traders).
• FxPulp may from time to time offer more financial instruments, remove, and/or change specifications of any available traded instrument(s).
• Client is held responsible for regularly reviewing the available financial instruments and related information on FxPulp official web site: www.fxpulp.com.

Orders Sizes

• The minimum allowed transaction volume for Standard-Mini accounts is 1 mini lot, or 1/10 of a standard contract. And the maximum volume allowed per each transaction is 30 standard lots (30 standard contracts).
  
• The minimum allowed transaction volume for micro accounts is 1 micro lot, or 1/100 of a standard contract. And the maximum volume allowed per each transaction is 9 micro lots.
  
• The maximum volume of open positions at once on the Standard-Mini account should not exceed 100 lots. Pulp International Business Ltd "FxPulp" will not allow additional trades to be placed if the total volume of trades exceeds 100 lots.
  
• The maximum volume of open positions at once on the micro account should not exceed 200 micro lots (20 mini lots). Pulp International Business Ltd "FxPulp" will not allow additional trades to be placed if the total volume of trades exceeds 200 micro lots.
  

Expert Advisor

• Expert Advisor programs are available only on the Standard-Mini trading accounts managed through the MetaTrader platform. Upon opening the account, Expert Advisor facility is automatically activated.
• Expert Advisor is not available on all trading accounts managed through CITTrader platform.
  
• Pulp International Business Ltd "FxPulp" does not provide a script or technical support for Expert Advisor. The client is responsible for the running script, and any resulting outcome.

Trailing Stops

• Upon opening the account, Trailing Stops facility is automatically activated on Standard-Mini accounts.
  
• Trailing Stops facility is not allowed on micro accounts.

Trading Errors

• In the aspect of a suspected trading error, the client must report it within 24 hours of occurrence.
  
• Trading errors are reported either via email to dealingdesk@fxpulp.com, or directly via phone +357 25 366324.
  
• In order to appropriately handle any trading error, the client must provide all necessary information: full name, account number, ticket number, detailed description, and direct contact information.
  
• Any trading error resulting form Pulp International Business Ltd "FxPulp" side will be amended.
  
• Should a quoting error occur due to (and is not limited to), a mistype of a quote, misquote given by automated trading system or telephone (including responses to Client requests), or trading on delayed prices; FxPulp is not liable for any resulting errors in account balances and reserves the right to make necessary corrections or adjustments on the Account involved. Any dispute arising from such quoting errors will be resolved on the basis of the fair market value, as determined by FxPulp, in its sole discretion, of the relevant financial instrument at the time such an error occurred. Client must review and report immediately errors on confirmations and statements. Failure to notify FxPulp immediately of any error or omission will bind Client to the terms of such confirmation or statement, as the case may be.

Accounts Liquidation

• If the margin level on Standard-Mini accounts reaches 20%, all open positions will be closed and the account will be liquidated.
  
• If the margin level on micro accounts reaches 10%, all open positions will be closed and the account will be liquidated.
• If there were any pending orders upon liquidation level, those orders will be deleted and canceled if the remaining margin is insufficient to activate them, but if the remaining margin is sufficient to activate the pending orders, they may not be deleted.
  
• Pulp International Business Ltd "FxPulp" will not allow any account to go into deficit. Should this occur, Pulp International Business Ltd "FxPulp" will adjust the balance to zero and will cover the difference.
  
• Accounts may be liquidated according to the provisions within the customer trading agreement.
  

Orders Execution Rules

Orders Types

• Instantly Executed Orders at the current available market price:
  
  The client initially requests to buy or sell a financial instrument at the market price, as quoted on FxPulp trading terminal. In cases where the requested price changes before the confirmation, the client has the option to accept the new price (the re-quoted price) and complete the transaction, or to reject the new re-quoted price.
• Pending Orders that will be executed later when the price you specify in the order becomes a traded available price in the market. Pending orders are of types: Limit Orders (Buy Limit and/or Sell Limit), and Stop Orders (Buy Stop and/or Sell Stop).

• Instantly executed orders and pending orders can have a take profit and/or stop loss commands attached to them.
  
• Take profit command is to specify a closing price for an open position or a pending order that would result in profits in case the market went in a favorable direction any time the trader is not constantly following up the market. Once this price becomes a traded available price in the market, the related order will be automatically closed.
  
• Stop loss command is to specify a closing price for an open position or a pending order that would result in losses in case the market went in an unfortunate direction any time the trader is not constantly following up the market, as part of cutting the losses strategy. Once this price becomes a traded available price in the market, the related order will be automatically closed.
  
• To close an order means to execute an order of the same volume on the same financial instrument with the opposite transaction type. For example, to close 1 lot of EURUSD (Buy) order is to sell the mentioned instrument (i.e. sell 1 lot of EURUSD).
  
• FxPulp guarantees filling and executing all take profit and/or stop loss orders at the specified price by the client once it becomes a traded available market price.
  
• The minimum allowed distance between the take profit and/or stop loss price and the current market price at the time of placing take profit and/or stop loss command is according to FxPulp Products Specifications table.
  
• The minimum allowed distance between the market current price at the time of preparing the pending order and this pending order specified price is according to FxPulp Products Specifications table.
• All specified distances to place stop loss, take profit, and all pending orders in the products specifications table are the minimum allowed distance from the market current price required to place a pending order or a stop loss or a take profit successfully. All those distances may widen during volatile market conditions and news releases, and as Pulp International Business Ltd "FxPulp" sees fit.
• FxPulp guarantees the execution of all pending orders (Sell Stops, Buy Stops, Sell Limits, Buy Limits) at the specified price once it becomes a traded available market price.
  
• During the processing of a pending order, any cancellation or modification made by the client on that order will be rejected or held by the trading system.
  
• All pending orders are valid during market trading hours, and will be canceled/ deleted every Friday evening or prior to any market holiday.
  
• Client is responsible for placing any canceled pending order when the market opens on Sunday evening.
  

Mechanism of Execution & Quoting

• For Standard-Mini accounts, all orders must go through the Dealing Room and be confirmed before execution. If the requested price is a traded available price in the market, FxPulp dealing room will immediately confirm and execute the order.
  
• For Standard-Mini accounts, if the price that is requested according to the market watch is not a traded market price, FxPulp dealing room will immediately give the available market price to the client and the order will be confirmed and executed only upon client consent.
• For Micro accounts, all orders are executed automatically by the trading system. If the requested price is a traded available price in the market, the system will immediately confirm and execute the order.
  
• For Micro accounts, if the price that is requested according to the market watch is not a traded market price, the system will immediately give the available market price to the client and the order will be confirmed and executed only upon client consent.
• The client shall expect the order to take few seconds to be executed.
  
• Any order executed on an invalid price might be canceled or deleted without any prior notice.
  
• Should a quoting error occur due to (and is not limited to), a mistype of a quote, misquote given by automated trading system or telephone (including responses to Client requests), or trading on delayed prices; FxPulp is not liable for any resulting errors in account balances and reserves the right to make necessary corrections or adjustments on the Account involved. Any dispute arising from such quoting errors will be resolved on the basis of the fair market value, as determined by FxPulp, in its sole discretion, of the relevant financial instrument at the time such an error occurred. Client must review and report immediately errors on confirmations and statements. Failure to notify FxPulp immediately of any error or omission will bind Client to the terms of such confirmation or statement, as the case may be.
  
• In order to settle the cumulative foreign currencies positions, a settlement may apply to all accounts periodically and as Pulp International Business Ltd "FxPulp" sees fit. The client will be sent a previous notice in this regard through the trading system, in "Mailbox". Accordingly, any foreign currency position held at the end of a specific business day will be closed and re-opened the next business day with no charges applied for this settlement.

Spreads & Costs

• Spreads are fixed in all market conditions for all spot major currencies and spot bullions (Gold and Silver).
• Market/ Interbank spreads will be given on all other products (CFD's on Major Currencies Futures, CFD's on Futures Indices, CFD's on Futures Energies, and CFD's on Spot Cross Currencies). See Products Specifications table.
• A commission is applied upon trading on all CFD's on futures products. 7 USD will be deducted as commission per each standard lot of CFD's on futures contract.
• All trading accounts are monitored by the Risk Management department, and certain conditions (Swaps, Commissions, or any other Fees) may apply at any time to any account as the department may see fit.
  
• Pulp International Business Ltd "FxPulp" may in its soul and absolute discretion, at any time, without any prior notice change its commissions, fees, spreads, margin requirements and leverages, or close any account.

Orders Types

• Market Executed Orders at the available market price:
  
  The client initially requests to buy or sell a financial instrument at the market price, as quoted on FxPulp trading terminal. In cases where the requested price changes before the confirmation, the client is obliged to accept the new price (the re-quoted price) and complete the transaction, on the requested financial instrument.
• Pending Orders that will be executed later when the price you specify in the order becomes a traded available price in the market. Pending orders are of types: Limit Orders (Buy Limit and/or Sell Limit), and Stop Orders (Buy Stop and/or Sell Stop).

• Market executed orders and pending orders can have a take profit and/or stop loss commands attached to them.
  
• Take profit command is to specify a closing price for an open position or a pending order that would result in profits in case the market went in a favorable direction any time the trader is not constantly following up the market. Once this price becomes a traded available price in the market, the related order will be automatically closed.
  
• Stop loss command is to specify a closing price for an open position or a pending order that would result in losses in case the market went in an unfortunate direction any time the trader is not constantly following up the market, as part of cutting the losses strategy. Once this price becomes a traded available price in the market, the related order will be automatically closed.
  
• To close an order means to execute an order of the same volume on the same financial instrument with the opposite transaction type. For example, to close 1 lot of EURUSD (Buy) order is to sell the mentioned instrument (i.e. sell 1 lot of EURUSD).
  
• FxPulp does NOT guarantee filling and executing all take profit and/or stop loss orders at the specified price by the client, take profit and/or stop loss orders may be filled at the available market prices.
  
• The minimum allowed distance between the take profit and/or stop loss price and the current market price at the time of placing take profit and/or stop loss command is according to FxPulp Products Specifications table.
  
• The minimum allowed distance between the market current price at the time of preparing the pending order and this pending order specified price is according to FxPulp Products Specifications table.
  
• All specified distances to place stop loss, take profit, and all pending orders in the products specifications table are the minimum allowed distance from the market current price required to place a pending order or a stop loss or a take profit successfully. All those distances may widen during volatile market conditions and news releases, and as Pulp International Business Ltd "FxPulp" sees fit.
  
• FxPulp does NOT guarantee the execution of all pending orders (Sell Stops, Buy Stops, Sell Limits, Buy Limits) at the specified price, pending orders may be filled at the available market prices.
• During the processing of a pending order, any cancellation or modification made by the client on that order will be rejected or held by the trading system.
  
• All pending orders are valid during market trading hours, and will be canceled/ deleted every Friday evening or prior to any market holiday.
  
• Client is responsible for placing any canceled pending order when the market opens on Sunday evening.

Mechanism of Execution & Quoting

• For Standard-Mini accounts, all orders must go through the Dealing Room and be confirmed before execution. If the requested price is a traded available price in the market, FxPulp dealing room will immediately confirm and execute the order.
  
• For Standard-Mini accounts, if the price that is requested according to the market watch is not a traded market price, FxPulp dealing room will immediately give the available market price to the client and the order will be confirmed and executed on the re-quoted price. The client is obliged to accept the new price (the re-quoted price) and complete the transaction, on the requested financial instrument.
  
• For Micro accounts, all orders are executed automatically by the trading system. If the requested price is a traded available price in the market, the system will immediately confirm and execute the order.
  
• For Micro accounts, if the price that is requested according to the market watch is not a traded market price, the Trading System will immediately give the available market price to the client and the order will be confirmed and executed on the re-quoted price. The client is obliged to accept the new price (the re-quoted price) and complete the transaction, on the requested financial instrument.
  
• The client shall expect the order to take few seconds to be executed.
  
• Any order executed on an invalid price might be canceled or deleted without any prior notice.
  
• Should a quoting error occur due to (and is not limited to), a mistype of a quote, misquote given by automated trading system or telephone (including responses to Client requests), or trading on delayed prices; FxPulp is not liable for any resulting errors in account balances and reserves the right to make necessary corrections or adjustments on the Account involved. Any dispute arising from such quoting errors will be resolved on the basis of the fair market value, as determined by FxPulp, in its sole discretion, of the relevant financial instrument at the time such an error occurred. Client must review and report immediately errors on confirmations and statements. Failure to notify FxPulp immediately of any error or omission will bind Client to the terms of such confirmation or statement, as the case may be.
  
• In order to settle the cumulative foreign currencies positions, a settlement may apply to all accounts periodically and as Pulp International Business Ltd "FxPulp" sees fit. The client will be sent a previous notice in this regard through the trading system, in "Mailbox".Accordingly, any foreign currency position held at the end of a specific business day will be closed and re-opened the next business day with no charges applied for this settlement.

Spreads & Costs

• Spreads are floating for all financial instruments.
• A commission is applied upon trading on all CFD's on futures products. 7 USD will be deducted as commission per each standard lot of CFD's on futures contract.
• All trading accounts are monitored by the Risk Management department, and certain conditions (Swaps, Commissions, or any other Fees) may apply at any time to any account as the department may see fit.
• Pulp International Business Ltd "FxPulp" may in its soul and absolute discretion, at any time, without any prior notice change its commissions, fees, spreads, margin requirements and leverages, or close any account.

Accounts Funding

• In accordance to the laws and regulations, Pulp International Business Ltd "FxPulp" will not accept funds for any trading account via a third party. All deposits must be directly sent by the account holder.
  
• Clients Trading Accounts with Pulp International Business Ltd "FxPulp" are only established for OTC trading purposes. Client deposits are only to maintain and support the trading account and trading activities.
  
• Incoming/ Outgoing funds might be reviewed and monitored by Pulp International Business Ltd "FxPulp" in accordance to with all anti-money laundering laws and regulations under all applicable domestic laws that Pulp International Business Ltd "FxPulp" actively complies with.
  
• Initial deposits will not be accepted before the trading account is approved and established, and the official confirmation is sent to the client.
  
• Deposits will not be accepted via any other funding method other than those mentioned in this policy.
• All trading accounts with Pulp International Business Ltd "FxPulp" are in USD only. Any deposits received in other currencies will be exchanged with USD according to banks exchange rates before being deposited into the trading account.
  

Bank Wire Transfer


• Bank wiring address and details are provided in the deposit form, and can be directly downloaded from FxPulp web site. The client is held responsible for downloading the latest form from FxPulp web site.
• Pulp International Business Ltd "FxPulp" is not responsible for any errors or mistakes made by client upon sending the bank wire transfer; therefore, make sure to provide your bank with the correct wiring information, make sure that Pulp International Business Ltd "FxPulp" is the beneficiary of the transfer, and include you full name and your trading account number in the sent transfer.
• In order to process your deposit via bank wire transfer without any delays, you must fill the related "Deposit Form", sign and send it to us to accounting@fxpulp.com or fax +357 25 366326.
• Click Here to download the "Deposit Form".
• International bank wire transfers may take several business days to arrive.
• Pulp International Business Ltd "FxPulp" does not have any charges for bank wire transfers.
• The bank will charge the client for its transfer fees. In some cases, both remittance and receiving banks may charge fees.
  
• Banks transfer fees may vary due to several reasons such as: the transferred amount, currency, destination, any agreement with remittance and receiving banks, and other factors.
  

Credit Cards Online Funding


• Funding via credit cards is done directly from FxPulp web site.
• You can fund via your credit card directly from FxPulp web site, or through e-payments service providers such as "NETELLER" and "MoneyBookers".
• As Pulp International Business Ltd "FxPulp" does not accept any third party payment, any transfer made via a credit card that is not under the account holder name will not be accepted, and will be returned to sender.
• Pulp International Business Ltd "FxPulp" does not have any charges for online payments. The service provider will deduct its fees from the transferred amount.
• Click Here to visit Online funding page and to read the Terms and Conditions.

Withdrawal Requests

• All withdrawals are directly sent via bank wire transfer to the client personal bank account that is submitted and specified in the trading agreement.
  
• To withdraw, the client must fill the related form, sign and send it to us via email
  to accounting@fxpulp.com or fax it to +357 25 366326.
  
• Upon receiving the withdrawal request, it will be processed and the bank transfer will be prepared and sent to the client bank account within 2 business days.
  
• Click Here to download the "Withdrawal Form".
  
• Expect the bank transfer to take few business days to arrive at your bank account.

Notes on This Policy

• The latest published version of this policy on Pulp International Business Ltd "FxPulp" web site shall prevail.
• All annexes related to Pulp International Business Ltd "FxPulp" trading policy that are published on its official site is part of this trading policy, and the client is held responsible for regularly reviewing any policies or related information on the web site.
  
• The terms in this policy are an essential part of the customer trading agreement. Should any clause in the trading policy conflict with a clause(s) in the customer trading agreement, the clause herein shall prevail.
• In the event of any dispute arising regarding the customer account/s and/ or any open or closed positions within customer account, Pulp International Business Ltd "FxPulp" has the right to internally investigate and audit this account/s including all open and closed transactions. Simultaneously, the account/s funds shall be frozen and no transactions will be allowed until the dispute is completely resolved.
  
• Pulp International Business Ltd "FxPulp" grants no guarantees whatsoever to the client account and/ or investment and/or funds.
  
• Pulp International Business Ltd "FxPulp" has all rights to amend, change, delete, add, and modify spreads, fees, daily commissions, leverage, margin requirements, liquidation level, and any offers for any accounts or any positions, at any time.
  
• Pulp International Business Ltd "FxPulp" reserves the right to close any positions or accounts, at any time, without a prior notice.