Fx Profit Stock Markets is Fx Profit Stock's set of limit order books that are accessed by clients through the Fx Profit Stock Pro and Fx Profit Stock Prime trading platforms. The following set of Trading Rules governs orders placed via these trading platforms.
1. Trading on Fx Profit Stock Pro and Fx Profit Stock Prime1.1 Fx Profit Stock operates a central limit order book trading platform, and settles trades in a number of Digital Asset and Fiat Currency Trading Pairs. Each Trader’s Account will list which Order Books are available to the Trader.
1.2 Orders
1.21 To place an Order on an Order Book, a Trader must have an Available Balance of the relevant Asset in their Account which is sufficient to cover the total value of the Order plus any applicable fees.1.22 When a Trader places an Order, that quantity of the relevant Asset becomes subject to a Hold.
1.23 A Trader can place an Order as either a Limit Order, a Market Order, or a Stop Order.
1.24 A Trader may cancel an open Maker Order or Stop Order at any time before it is Filled. No fees are charged for canceled Orders.
1.3 Limit Orders
1.31 A Limit Order is an Order to buy or sell a specified quantity of an Asset at a specified price.1.32 A Limit Order will only ever Fill at the specified price or a better price.
1.33 A Limit Order with ‘post-only’ selected will only be posted to the Order Book if it would not be posted at the same price as an existing Order on the Order Book. A Limit Order with ‘post-only’ selected will always be a Maker Order.
1.34 A Limit Order without ‘post-only’ selected will be immediately posted to the Order Book (subject to any Time in Force Instructions) and can result in a Maker Order or a Taker Order, or an Order that is partially a Maker Order and partially a Taker Order.
1.35 Limit Orders may be placed with one of the following Time in Force Instructions.
- Good til canceled: if posted, the Order will remain on the Order Book until canceled by the Trader. This is the default Time in Force Instruction.
- Immediate or Cancel: the Order will only be posted to the Order Book to the extent that it would be immediately Filled; any remaining quantity is canceled. This results in a Taker Order.
- Fill or Kill: the Order will only be posted to the Order Book if it would be immediately and completely Filled. This results in a Taker Order.
1.4 Market Orders
1.41 A Market Order is an Order to buy or sell a specified quantity of an Asset at the best available price of existing Orders on the Order Book.1.42 There is no guarantee that a Market Order will Fill at the price specified. A Market Order may Fill at a number of different prices, based on the quantity of the Market Order and the quantities of the existing Orders on the Order Book at the time.
1.43 Depending on the volume and prices of Orders on the Order Book at the time when a Market Order is posted, the Market Order may Fill at a price less favorable than the most recent trade price, in some cases significantly so. This is commonly referred to as ‘slippage’.
1.44 A valid Market Order will be immediately posted to the Order Book. A Market Order is always a Taker Order.
1.5 Stop Orders
1.51 A Stop Order is an instruction to post an Order to buy or sell a specified quantity of an Asset but only if and when the last trade price on the Order Book equals or surpasses the Stop Price.1.52 Once a Stop Order has been placed, it is considered ‘active’ until it executes by posting the relevant Order when the Stop Price is triggered.
1.53 A Stop Order is not posted to the Order Book and is not visible to other Traders, but any resulting Order is posted and visible. All Stop Orders are placed without 'post-only' enabled.
1.54 A Stop Order must be placed as a Stop Limit Order which posts a Limit Order when the Stop Price is triggered.
1.55 A Stop Limit Order is not guaranteed to Fill. The Web Interface will display a warning each time a Trader attempts to place a Stop Order.
1.56 Stop Orders may be placed with one of the following Time in Force Instructions.
- Good til canceled: if posted, the Order will remain on the Order Book until canceled by the Trader. This is the default Time in Force Instruction.
- Good til time: if posted, the Order will remain on the order book until a certain time is reached or the Order is canceled by the trader.
Warnings
The Web Interface will display a warning to Traders who attempt to place an Order which would completely or partially fill at a price which is more than 2% away from the last trade price (slippage warning).1.6 Posting of Orders to the Order Book
1.61 (Taker Order) If an Order is posted to the Order Book at the same price as one or more existing Orders, it is a Taker Order which will result in an immediate Fill at that price, to the extent of the total quantity of those existing Orders.
1.62 (Maker Order) To the extent that an Order is posted to the Order Book at a different price to all existing Orders, it is a Maker Order which will remain open at that price on the Order Book until:
- It is canceled by the Trader;
- It expires due to a Time in Force Instruction; or.
- It is completely Filled by one or more Taker Orders placed by another Trader at the same price.
Order Protections
1.63 Market Orders and Limit Orders are subject to a 10% protection point. Market and Limit orders will fill at prices up to 10% from the mid-point price between the best bid and best offer on the Order Book at the time the order was placed. If a Market or Limit Order would fill against orders beyond the protection point, the Order will partially fill up to the 10% price level and the matching engine will cancel all remaining portions of the Order.Order Minimums/Maximums
1.64 Order Minimums: All Market Orders, Limit Orders, and Stop Orders placed on Fx Profit Stock Markets are subject to the minimum order size requirements.1.65 Order Maximums: All Market Orders, Limit Orders without 'post-only' selected, and Stop Orders placed on Fx Profit Stock Markets are subject to the maximum order sizes
1.66 'Post-only' Limit Orders do not have a maximum order size. The size can be in any increment of the base currency above the minimum order size requirements.
1.67 Updating Order Minimums and Maximums: Fx Profit Stock Markets will periodically update these Order Minimums and Order Maximums to reflect the current state of our marketplace and the notional value of the assets.
1.7 Matching Engine and Order Priority
1.71 Fx Profit Stock Markets matches Taker Orders with Open Maker Orders on each Order Book based on Price-Time Priority.1.72 Price-Time Priority means that each time a Taker Order is posted: The Taker Order is matched with the earliest in time Maker Order at the best price on the Order Book; and To the extent that the Taker Order is not completely Filled by that Maker Order, it is matched with any subsequent Maker Orders at that price, in the sequence those Maker Orders were posted; and To the extent that the Taker Order is not completely Filled by one or more Maker Orders described above, it is matched with one or more Maker Orders at the next best price, in the sequence those Maker Orders were posted, and this process is repeated until the Taker Order is completely Filled.
1.73 All Traders on accessing Fx Profit Stock Markets are subject to the same Price-Time Priority.
1.74 Subject to Time in Force Instructions, an Order may be matched with a number of corresponding Orders at the same price.
1.75 Taker Orders are matched with the best available existing Maker Orders. This means that a Limit Order placed outside the market (i.e. a sell Order below the highest existing buy Order, or a buy Order above the lowest existing Sell Order) will be Filled by the best available existing Order rather than an existing Order with the same price as the Limit Order.
1.8 Fills and Settlement
1.81 When a Maker Order is matched with a Taker Order, those Orders are Filled. An Order may be matched with and Filled by one or more Orders at the same price.1.82 Fx Profit Stock Markets settles all Filled Orders immediately, by debiting and crediting the relevant balances of Assets in both Traders’ Accounts.
1.83 Subject to daily withdrawal limits a Trader may immediately withdraw all Assets in their Account.
1.9 Trading Fees 1.91 Fx Profit Stock Pro and Fx Profit Stock Prime charge a Maker fee for each Maker Order and a Taker fee for each Taker Order that is posted to the Order Book. The fee is charged in the Quote Asset and is calculated as a percentage of the Order quantity.
1.92 A fee is charged by debiting the Trader’s Available Balance for the amount of the fee at the time that the Order is posted.
1.93 If an Order is posted to the Order Book partially as a Maker Order and partially as a Taker Order, a Maker fee applies to the portion posted as a Maker Order and a Taker fee applies to the portion posted as a Taker Order.
1.94 Fees may vary between Order Books. The current fee rates can be found at pro.fxprofitstock.com/fees and prime.fxprofitstock.com/fees.
1.95 Volume-based fee discounts are available to all traders based on trades over the trailing 30 day period across all order books.
2. Market Integrity
All Trades are Final
2.1 All Fills are final and will not be reversed unless:
Fx Profit Stock is compelled to do so by any applicable law or regulation; or Due to a serious technical error, Orders or Fills do not occur as specified in these Rules - in which case Fx Profit Stock will make all reasonable efforts to restore all Traders to the position they would have been in had the error not occurred.2.12 Fx Profit Stock may cancel Open Orders in the following circumstances:
- Fx Profit Stock is compelled to do so by any applicable law or regulation; or
- Due to a serious technical error, Orders or Fills do not occur as specified in these Rules - in which case Fx Profit Stock will make all reasonable efforts to restore all Traders to the position they would have been in had the error not occurred.
2.12 Fx Profit Stock may cancel Open Orders in the following circumstances:
- Orders placed by Traders who, in our sole discretion, have engaged in abusive use of the platform, for example, Market Manipulation, or using the API in a manner which unreasonably burdens the platform.
- If required by any applicable law or regulation, including specifically where Fx Profit Stock is required to suspend or terminate a Trader’s Fx Profit Stock Pro Account, Fx Profit Stock Prime Account or Fx Profit Stock Account.
- If required for technical reasons.
2.2 Access to Fx Profit Stock Pro and Fx Profit Stock Prime
2.21 All Traders have equal access to the Fx Profit Stock APIs and Web Interfaces. Fx Profit Stock does not provide prioritized access to any Trader.2.22 Fx Profit Stock Market Operations has the authority to take any action deemed appropriate to preserve market integrity. Such actions include, but are not limited to, the halting of trading, modifying risk-mitigating parameters, restricting Trader access to Fx Profit Stock Pro or Fx Profit Stock Prime, restricting order types to post-only or limit only, canceling orders resting in the order book, or any other actions deemed to be in the best interest of the Exchange.
2.3 Interruptions
2.31 If technical reasons prevent or degrade Traders’ ability to place or cancel Orders, or prevent or degrade access to Fx Profit Stock APIs or the Web Interfaces or affect the operation of Fx Profit Stock Markets Order Books or matching engines, then Fx Profit Stock may, in its discretion, take one or more of the following actions in respect of one or more Order Books;- Temporarily disable depositing or withdrawing Assets.
- Cancel Open Orders.
- Disable the ability to place new Orders (Cancel-Only Mode).
- Disable sign-in.
- Disable the Fx Profit Stock Pro or Prime APIs.
- Disable access to the Web Interface.
2.33 If Fx Profit Stock Pro or Prime is in Cancel-only Mode, it will be restored to fully operational only after access through the Web Interface becomes available for at least 5 minutes and Fx Profit Stock deems is it safe to restore Fx Profit Stock Pro and Prime to fully operational.
2.4 Self-trade Prevention
2.41 Traders are not able to place an Order which would result in self-execution—i.e., where the same Trader would act as both the maker and taker for the trade.2.42 If two Orders of the same quantity would result in self-execution, both Orders are canceled.
2.43 If two Orders of different quantities would result in self-execution, the smaller Order is canceled and the larger order is decremented by an amount equivalent to the smaller quantity. The remainder of the larger order remains Open.
2.5 Flash Crashes and Circuit Breakers
2.51 Fx Profit Stock Markets does not use circuit breakers or automated trading halts based on predetermined price bands. As provided in Section 2.22 and 2.31, Fx Profit Stock Markets Market Operations may, in its discretion, halt trading.2.6 Market Manipulation Prohibited
2.61 Traders are prohibited from engaging in Market Manipulation.2.62 Market Manipulation of any kind is strictly prohibited. Market Manipulation is defined as actions taken by any market participant or a person acting in concert with a participant which are intended to:
- Deceive or mislead other Traders;
- Artificially control or manipulate the price or trading volume of an Asset; or
- Aid, abet, enable, finance, support, or endorse either of the above. This may include actions on Fx Profit Stock Pro/Prime and/or outside of Fx Profit Stock Pro/Prime.
3. Access to Information
3.1 All Traders have full and equal real-time access to Market Data. Market Data is made available through the Web Interface or the Fx Profit Stock Pro or Prime APIs.3.12 Market Data comprises the following:
- All Limit Orders placed on the Order Book (price, quantity, and time).
- All canceled Orders on the Order Book (price, quantity, and time).
- All Fills or Executions (price, quantity, and time).
- Resting Stop Orders (Stop Orders that have been placed but not triggered)
- Any information about which Trader placed or canceled an order.
3.2 Fx Profit Stock Corporate Operations
3.21 Fx Profit Stock, Inc., which owns and operates Fx Profit Stock Pro and Prime, also trades its own corporate funds on Fx Profit Stock Pro and Prime.3.22 Fx Profit Stock does not have any special priority and is subject to the same Price/Time/Priority and fee structure as all other Traders.
3.23 The Fx Profit Stock application which trades on Fx Profit Stock Markets only trades based on Market Data and does not have access to inside information. It does not engage in any front-running.
3.3 Fx Profit Stock Employee Access
3.31 Fx Profit Stock policies prohibit all Fx Profit Stock employees from using inside, corporate or proprietary information to trade Digital Assets.3.32 Fx Profit Stock Employees are required to trade Fx Profit Stock supported assets on Fx Profit Stock products (either Fx Profit Stock Consumer or Pro), subject to Fx Profit Stock’s employee trading policy and trade surveillance program.
