In accordance with the supervisory regulations, TigerWit reminds you to read these trading notes carefully. Unless you have learnt the nature of the contract concluded and the degree of potential risks to be confronted, it is not recommended to involve in trade of similar financial derivatives and clients are recommended to judge whether the product is suitable at his/her own discretion based on the conditions and financial status.
Different investment strategies would expect risks of different degrees. Thus, before deciding whether to apply the investment strategy, the client should learn the following information.
Provision of a certain functions (such as ‘stop loss’, or ‘stop loss-buy limit’) is to control the losses within a specific range. However, it may fail to produce the desired result given market situations or technical restrictions. In case of trade through (gap), the resting order (including stop loss, take profit, buy stop, sell stop, buy limit and sell limit) will become market order.
In case of fast market (before and after release of important data) or sluggish market, trade through (gap) may arise. Though resting order is set, a trade may be concluded at market price due to different market circulation.
During the period before and after important data or information is released, market [rice may encounter sharp fluctuation. In such a situation, the gap of listing price of commodities may also become greater accordingly.
Clients should give prudent consideration to potential risks thereof before important data are released.
Prices published in our online system may not reflect the general market.Although TigerWit hopes that the prices could be reasonably relevant with bank valuation, prices published in our online system may not be exactly the same as prices from interbank markets as well as other participants
When clients place an order, the instructions may be delayed due to various reasons, such as: 1. When clients connect to TigerWit server, there might be web technology issues that delay the instructions of order placement. 2. Weak signal of wired and wireless networks. 3. Interruption of connection path. All these facts could result in abnormal function in trading platform, contributing to a delay of information transmission between clients and TigerWit server, which leads to orders could not be placed at desired prices. Please make sure the connection between clients and TigerWit server works well before place an order.
During the period of dramatic fluctuation in the market and slack season of trading, spreads among all types of commodities in TigerWit trading platform might vary in degree. During the announcement periods of industry data, spreads might be enlarged in order to align with actual market fluctuation. TigerWit strongly recommends that traders should be cautious in their trades during these periods, which could help them avoid unpredictable loss resulted from unstable market.
TigerWit provides customers with the best price and make the deals at requested prices, but sometimes because of dramatic fluctuation in market or changes of trading volumes, it may result in slippage and difficulties to complete a deal, which is quite common during the announcement periods of industry data.
It happens that the opening price on the first trading day in a week may be different with the closing price on the last trading day in last week. The following causes may contribute to substantial gaps: The announcement periods of industry data, force majeure and economic index number events that may change how participants of the market consider the value of some certain currencies. Traders with positions or pending orders should be aware that gaps are likely to emerge during weekends.
In fact, when customers trade through TigerWit, they are trading according to quotations provided by major banks and financial institutions. In some cases, these quotations might be subject to interference and wrong quotations due to some temporary issues of trading technology. Usually, these problems may only occur a short time.
TigerWit recommends that if customers encounter these situations, please avoid dealing at best prices, because these exchange prices might be untrue resulting in considerable spreads with the actual market prices. If the exchange prices are not the actual prices offered by banks and financial institutions, TigerWit has the right to revoke these orders. Once the orders are revoked, these transactions will be regarded as invalid ones.
Please note: although the situations mentioned above are relatively rare, TigerWit advices customers to halt the transaction to avoid related risks.
When quotations of system are incorrect, customers sometimes cannot complete trading, TigerWit will inform all the customers via system announcement, email or text as soon as possible. Following the trading principles of fairness and equitability, TigerWit may revoke mispriced deals regardless of profit or loss.
The internet, connection delay and error of quotations may cause prices published in TigerWit trading platform cannot reflect actual market prices. Profit taking behaviors that take advantage of price spread, such as arbitrage, scalping or utilizing the internet delay, are not allowed in Over The Counter (OTC) market that basically trade directly between two parties, without the supervision of an exchange. TigerWit do not allow any clients get involved in these opportunistic practices such as arbitrage or utilizing internet delay and etc. These transactions that resulted from arbitrage behavior based on price lag are very likely to be canceled. TigerWit reserves the rights of settlement for accounts that engage in the opportunistic practices above. These rights include necessary adjustments and modifications. TigerWit may estimate these practices depending on specific conditions then require dealers to intervene and examine the related accounts or close them when it is necessary, which does not need to inform clients in advance. In terms of disputes due to arbitrage and manipulation, TigerWit will resolve these cases basing on specific conditions. TigerWit reserves deposit detention rights until these issues could be solved. Practices or decisions mentioned here would not impair or give up any rights or compensation to you, your companies and employees by TigerWit.
TigerWit absolutely forbids any kinds of manipulation for prices, execution and platform, and does not accept any illegal trading modes such as scalping.
If TigerWit suspects any accounts are manipulating or doing unacceptable trading, we reserve related rights to investigate and audit these accounts and deduct profits earned in relevant transactions from accounts suspected. Especially, transactions of arbitrage resulted from price delay might be canceled investigated or frozen, TigerWit has the right to close open positions or accounts of these clients. For suspected accounts that manipulate prices, TigerWit has the rights to process necessary adjustment or modification.
Users have obligations to maintain their own passwords secrecy and confirm all the third parties are not able to login TigerWit or obtain rights of users in platform via users’ account names and passwords. In any cases, trading should be operated by users themselves only. If users authorize the usage of their account by any third party or trade according to others’ information, advice or instructions, no matter whether it is from users’ own decisions, the risks should be borne by users themselves. TigerWit is not responsible for any confirms or advice gave by third parties authorized by users. TigerWit does not offer any states or guarantees to any trading agents. TigerWit is not responsible for the loss of users caused by the practices of third parties.
The quotations in TigerWit platform are offered by banks and financial institutions, thus, the hours of opening or closing quotations might start early or extend, because banks and financial institutions to do so. The opening quotations might be adjusted or affected due to the market quotations. TigerWit usually opens quotations under a stable market.
Traders please note: during a couple of hours around market opening, the amount of trading in circulation usually relatively small. At that time, the buyers and sellers are relatively few and spreads might be affected by the market.
Margin decreases may widen as the result of spreads and lead to the reduction of free margin left in the account. If the margin is insufficient to maintain all open positions, the account may need to close the position due to insufficient margin. Although traders who held both long and short positions may feel the impact is limited from the market changes, in fact, a margin call on all open positions may occur at any time when spreads are widening and the free margin is insufficient.
When the markets are closed over the weekends and holidays all kinds of situations, developments, changes or big events may occur, which may lead to large gaps between the opening quotations and the closing quotations of Friday afternoon of the previous week.
Users in TigerWit cannot set up or change instructions through platform during weekends and closing time. If users hold the position during weekends, it is likely that the instructions would carry out at a worse price than the desired price in order to protect stop-loss instructions for holding positions.
Trades placed in TigerWit platform on Over The Counter (OTC) contracts differ from that in other electronic trading platforms on traditional trading market
Users of online trading platform engaged in the risks that are related with system condition including bugs in hardware, software and system. The internet tools are comprised of single system bugs of users and communication facilities bugs of TigerWit that connect platform and users, such as the internet.
Before making any transactions, customers should obtain detailed information of all commissions and other fees payable. Users should be aware that TigerWit may pass on other charges or regulatory fees not specified in the account application.
When system occurs disconnection or abnormal conditions, we recommend that users should make the decision whether close the positions or not at the first place. Once users make up their mind, please operate the online application for abnormal conditions.
1. While system disconnected, client needs to contact the support center. TigerWit only close the position or cancel the order on client's behalf, and will not open a new position or place the loss/take profit order for client.
2. When TigerWit support center closes the position on client’s behalf, the quotations in the phone call may not exactly aligned with final trading quotations due to the delay of phone call or the internet. Clients should be aware and agree the settlement of TigerWit and take the responsibilities of the spreads mentioned above. TigerWit is only an authorized agent to execute for client, and does not quote to client as a trader. Therefore, if you apply for the abnormal condition settlement during the effective time, TigerWit will close the position by the accurate price according to the price while system disconnection or abnormality occurs. Attention: TigerWit does not accept any assigned price to close the position.
3. After you apply for the abnormal condition settlement, please do not close any position that you applied for. If you still act in this way, TigerWit support center will still close the position by the accurate price according to the price while system disconnection or abnormality occurs.
Questions regarding trading conditions should be addressed, in the first instance, to the Customer Support Department.
TigerWit Compliance Department