Margin trading involves high risks, and its losses may exceed the deposited funds, which may not be suitable for all investors. Before deciding to buy or sell the products provided by COIN, you should carefully consider your investment objectives, financial situation, needs and trading experience. The Company may provide general advice that does not take into account your investment objectives, financial situation or needs. The general suggestions provided or the contents of this website are not intended to be personal suggestions. Possible situations include losses that exceed the funds deposited, so you should not use the capital that cannot bear losses for speculation. Investment shall be aware of all risks related to margin trading. We recommend that you seek advice from an independent financial adviser.

The use of the network transaction execution system carries certain risks, including (but not limited to) hardware failure, software failure and network system connection problems. Since our company cannot control the strength of the connection signal, its receiving or router lines, your equipment configuration or the reliability of its network connection, we are not responsible for the communication failure, misinformation or delay in network transactions. The Company has backup systems and emergency plans to minimize the possibility of system failure, including allowing customers to conduct transactions by telephone.

In the first few hours after the opening of the market, the transaction tends to be calmer than usual until the opening of Tokyo and London. When the market is calm, there are few buyers and sellers, and the price difference is large. This is roughly because the first few hours of the market opening are still weekends for most parts of the world. Liquidity may also be affected when the transaction is transferred (5:00 p.m. EDT), because many of our liquidity providers will temporarily interrupt the network to settle the transactions of the day, which may also lead to a large bid ask spread at that time due to lack of liquidity. When the market is short of liquidity, it may be difficult for traders to establish or close positions according to their required prices, encounter delay in execution, and obtain an execution price that is far from the required price.

Any comments, news, research, analysis, prices and other information published on this website can only be regarded as general market information and do not constitute investment advice. The Company will not be responsible for any loss or loss (including but not limited to any loss of profits) caused by the direct or indirect use or reliance on such information.

The Company provides contract order transaction execution through the Company's processing method. Under this model, the quotation provided by the Company to customers is the best price given by one of the liquidity providers of the Company plus the additional difference for each currency pair or contract. In this model, the Company is not the market maker of any currency pair or contract. Therefore, the Company relies on these external providers to provide international futures and contract quotations. Although this model can promote efficiency and market pricing competition, several liquidity restrictions may affect the final execution of your order.

Based on different reasons, the implementation mode of international futures without trader platform of the Company may cause transaction delay, such as the technical problems of the Internet that traders connect to the Company, the delay of liquidity providers in confirming orders, or the lack of available liquidity of the currency pairs that traders try to buy and sell. Based on the inherent volatility of the market, it is very important for traders to have operational and reliable Internet connectivity. In some cases, due to the insufficient signal strength of wireless or dial-up connection, the traders' personal Internet connection failed to maintain a stable connection with the Company's servers. The interruption of the connection path will sometimes interfere with the signal, causing the company's trading platform to not operate normally, thus delaying the data transmission between the platform and the company's server. To check the Internet connection with our server, you can test the connection between your computer and the server.

During the period of market fluctuation, there may be so many orders that it is difficult to execute the transaction at the specified price. By the time the order is executed, the bid/offer price that the liquidity provider is willing to accept may have changed several times. If the liquidity is insufficient to execute the "Set Range" order, the order will not be executed. For a limit order or limit order, the order will not be executed, but will be reset until it is executed. Please keep in mind that price limit orders and price limit orders guarantee the price, but cannot guarantee the execution of the transaction. Depending on the relevant trading strategies and relevant market conditions, traders may pay more attention to the execution of transactions than the prices they obtain.

The bid ask spread may sometimes be higher than the general spread. The bid ask spread may vary with the market liquidity. During the period of limited liquidity, the opening of the market, or the 5:00 p.m. position transfer period, the bid ask spread may expand due to the uncertain factors of the price direction, the soaring market volatility, or the lack of market liquidity. It is not uncommon for the bid ask spread to expand, especially when transferring positions. The trading position transfer is generally a very quiet period in the market, because the working day in New York has just ended, while the new working day in Tokyo is still several hours away. Recognizing these patterns and taking them into account when trading with orders that have not been closed or establishing new trades at these times can improve your trading experience. This may happen during the press release, and the bid ask spread may increase significantly to compensate for the huge market volatility. A high bid ask spread may last only a few seconds, or as long as a few minutes. The Company strongly encourages traders to maintain prudence in trading during the press release period, and should constantly pay attention to their net account value, available margin and market risk. A high bid ask spread may adversely affect all positions in the account, including hedging positions.

Orders may be suspended during high trading volume. In this case, the order is being executed, but the execution of the transaction has not been confirmed. Relevant instructions will be displayed in red, and the "Status" column in the "Instruction" window will be displayed as "Executed" or "In Process". In such cases, the instruction is being implemented, but it is still to be implemented until the Company obtains confirmation from the liquidity provider that the quotation is still provided. During frequent transactions, there may be multiple instructions that need to be processed. The increase in waiting instructions will sometimes affect the liquidity provider's delay in confirming several instructions.

The results may vary depending on the type of instruction issued. If the "set range" fails to be executed within the specified range, or if the delay has ended, the instruction will not be executed. If it is set as the market price order, the order will be executed at the next available price in the market as far as possible. In these two cases, the "Status" column in the "Instruction" window is generally displayed as "Executed" or "In Process", and it takes a while for the relevant transaction to appear in the "Opening Position" window. Depending on the type of instruction, the transaction may have been executed, but the display is delayed because the network is busy.

Keep in mind that each instruction is created only once. Repeated creation of the same order may slow down or lock your computer, or inadvertently open a position beyond your wishes. If at any time you are unable to connect to our trading platform to manage your account, you can directly contact the customer service center.

When the international futures and contract liquidity providers who provide quotations to the Company do not actively create a market for a currency pair, and the liquidity decreases as a result, hidden quotations will occur. The Company will not intentionally "hide" the quotation; However, sometimes when the contact with a provider is interrupted, or a publication has a significant impact on the market, which limits liquidity, the bid ask spread may rise significantly. The concealment of quotation or the expansion of price difference may cause the traders' accounts to require additional margin. When an instruction for a currency pair is affected by a hidden quotation, the gain/loss number will be temporarily displayed as zero, and the system cannot calculate the gain/loss balance until the currency pair has another tradable price.

The hedging function allows the traders to hold the buying and selling positions of the same currency pair at the same time. When entering the market, the traders do not need to choose the buying and selling direction for a currency pair. Although hedging can reduce or limit future losses, it cannot avoid further losses in the account. In the international futures and CFD contract markets, traders can fully hedge on the basis of quantity rather than price. This is due to the difference between the buying and selling prices (or bid ask spread). The traders of the Company will need to deposit margin in one direction of hedging positions (the direction with large positions). Margin requirements can often be monitored in the simple quotation window. Traders may feel that hedging functions are applicable, but they should be aware of the following factors that may affect hedging positions.

As the bid ask spread may expand, the remaining available margin in the account will decrease. Even if an account has been fully hedged, additional margin may still be required. If the remaining margin is insufficient to maintain any open position, the account may need to add margin, and the open position in the account will be closed. Although holding long and short positions makes traders feel limited to the impact of market changes, in fact, at any time when the trading spread expands and the available margin is insufficient, it is absolutely possible that additional margin may be required for all positions.

Rollover refers to the process of closing and opening positions at the same time of the day to avoid settlement and settlement of currency. Rollover (overnight interest) also refers to the interest paid or obtained by the trading account for holding positions overnight, and the overnight time refers to the time after 5:00 p.m. on the various platforms of the Company. The time for closing and reopening positions and calculating overnight expenses is generally called Trade Rollover TRO. It should be noted that the overnight interest paid will be higher than the interest earned. If all positions in the account have been hedged, although the positions are equal on the whole, the overnight interest difference paid and obtained can still lead to losses. During the transfer period, the bid ask spread may be large compared with other times, because the liquidity provider may temporarily break the line to settle the transaction on the day. Please manage the position accordingly during the position transfer period and understand the impact of the bid ask spread on the execution of transactions with existing/open positions or new positions/orders

Exchange rate fluctuation or value of each point is defined as the value of a currency pair in a point of change. This cost is equivalent to the profit or loss caused by each change in the exchange rate of the currency pair, which is displayed in the currency unit of the account to which the currency pair belongs. To view the value of each point of any currency pair on various platforms of the company, you can select "Display" in the menu bar, click "Window Display", and then select "Simple Mode". If "Simple Mode" has been selected, just click "Simple Quotation Window" in the quotation window, and the value of each point will be displayed on the right side of the window.

When you trade international futures or other contracts through the platform of our company in the execution mode of the platform without traders, you are trading with the quotations provided by several liquidity providers plus the ideas raised by our company. In rare cases, quotations may be disrupted. Although this situation may only last for a short time, it will lead to reverse price difference. Our company suggests that customers should avoid establishing market price lists once encountering such rare circumstances. Although "cost free transaction" is attractive, it must be kept in mind that these prices are not true, and the transaction price may differ considerably from the displayed price. If the transaction price is not the actual exchange rate provided to the Company by the liquidity provider of the Company, the Company will regard the relevant transaction as invalid and reserve the right to cancel such transaction. In such cases, the client can avoid the related risks by only issuing the instructions with a set range or suspending the transaction.

Trading desk time: The official trading time of the trading desk is from 5:15 p.m. on Sunday to 4:55 p.m. on Friday. Please note that the previously established orders may be executed before 5:00 p.m. EDT, while the traders who established trades between 4:55 p.m. and 5:00 p.m. EDT may not be able to cancel the orders to be executed. If the valid (GTC) market price list before cancellation is just transmitted at the closing time, it may not be executed before the opening of the market on Sunday. Please be careful when you are trading near the closing of the market on Friday, and you should take all the above information into consideration in your trading decision. The trading desk may change the opening or closing time because it relies on the quotation provided to the Company by the liquidity provider. Most of the major banks and financial centers are closed outside the above periods. At the weekend, due to the lack of liquidity and trading volume, the execution of orders and quotations will be blocked.

In a short time before the opening, the trading desk updates the quotation to reflect the current market price and prepare for the opening. During this period, the weekend reserved transactions and orders are waiting to be executed, so the newly established orders cannot be executed at the market price. After the opening, traders can establish new transactions, and cancel or change the original listing.

The opening price on Sunday may be the same as or different from the closing price on Friday. The exchange rate at the opening on Sunday is sometimes very close to the closing price on Friday; At other times, the closing price on Friday may be very different from the opening price on Sunday. In the event that important news releases or economic events change the market's view on the value of a currency, the exchange rate may fall short by a large margin. Traders should be aware of the possibility of price shorting when holding positions or placing orders over the weekend.

Limit orders are usually executed at the requested or better price. If there is no specified price (or better price) in the market, the order will not be executed. When the market price reaches the stop loss level at the opening on Sunday, the order will become a market order. The price limit order will be executed in the same way as the price limit order. The stop loss order will be executed in the same way as the stop loss.

Some traders are worried that the market is very volatile during the weekend, and the exchange rate may jump sharply short, or that the weekend risk is inconsistent with their own trading style, so they can directly close the order and position before the weekend. If a trader holds an open position over the weekend, he or she must know that there may be major economic events and news releases that will affect the value of the relevant position. Based on the volatility of the market, it is not uncommon for prices to deviate from many ideas at the opening. We encourage all traders to take this into consideration before making trading decisions.

It is very important to distinguish the reference price (shown on the chart) from the tradable price (shown on the trading platform of the Company). The reference quotation is indicative of the market price and the range of change. These prices come from banks, settlement institutions and other aspects, which may not reflect the prices of our liquidity providers. The reference price is usually very close to the transaction price, but it can only serve as an indicator of the market situation. The tradable quotation ensures specific execution and lower transaction costs. Since there is no single central exchange for all transactions in the international futures market, the quotations of each international futures dealer are slightly different. Therefore, if the quotations of third-party chart providers are not those of market makers, they can only be used as reference prices, and may not necessarily reflect the actual exchange rates that can be traded.

There are a series of inherent risks in the use of mobile transaction technology, such as repeated instructions, delayed quotation and other problems caused by flow connection. The price displayed on the mobile platform is only the display of the executable price, which may not reflect the actual execution price of the order.

The mobile trading platform uses public communication network lines to transmit information. The Company will not be responsible for any and all situations such as the delay in quotation or the inability to trade due to network line transmission problems or any other problems beyond the direct control of the Company. Transmission problems include (but are not limited to) the strength of mobile signals, the delay of mobile phones or any other matters that may arise between you and any Internet service provider, telephone service provider or any other service provider.

Please note that some functions of our trading platform will not be provided on our mobile trading platform. The main differences include (but are not limited to) that the chart will be limited, the daily overnight interest will not be displayed, and the maintenance margin requirements for each financial instrument will not be provided. It is highly recommended that customers get familiar with the functions of our mobile trading platform before managing real accounts through mobile devices.

Sliding Point The Company is committed to providing customers with the best execution of transactions, and makes every effort to close all orders at the required price. However, sometimes orders may be affected by slip points due to market volatility or increased trading volume. Slip points most often occur during basic news events or periods of limited liquidity. Taking the case of trading position transfer (5:00 p.m. EDT) as an example, it is known that this is a period with limited liquidity tendency, because many liquidity providers will settle the transactions on that day. During such period, your order type, required quantity, and specific instruction may affect the overall transaction execution you obtain.

Examples of specific instructions include: Valid until cancelled (GTC): your entire instruction will be executed at the next available price upon receipt. Immediate or Cancellation (IOC): All or part of your orders will be executed at a price available. If there is no liquidity to execute your orders immediately, the balance will be cancelled. Full execution or immediate cancellation (FOK): the instruction must be executed in full, otherwise it will not be executed.

It may be difficult to execute orders during market fluctuations. For example, when executing your order, the price you get may differ from the selected or quoted price by many ideas based on market changes. In this case, the trader expects to execute the transaction at the specified price, but for example, the market may have deviated significantly from the price in less than one second. The trader's order will then be executed at a price available for that particular order. Similarly, based on our platform international futures execution mode, there must be sufficient liquidity to execute all transactions at any price.

The Company provides a variety of basic and advanced instruction categories to help customers reduce execution risk. One way to reduce the risks associated with slip points is to use the "Set Range" function on our platform. The "Set Range" function allows traders to indicate the amount of potential slippage they are willing to accept on the market order by defining a range. Zero means no slip points are allowed. If zero is selected in the "setting range", it means that the trader requires to execute his order only at the selected or quoted price, not at any other price. Traders can choose to accept a larger range of allowable slip points to improve the chance of execution of orders. In this case, the order will be executed at the next available price within the specified range. For example, a customer may indicate that he or she is willing to accept the execution of a transaction within the range of 2 pips of his or her requested order price. If there is enough liquidity, the system will execute instructions within an acceptable range (i.e. 2 points). If the instruction cannot be executed within the specified range, the instruction will not be executed. Note that the setting range can only specify a negative range. If a better price appears when executing the transaction, the amount of positive price improvement that the trader can obtain is not limited to the specified range.

In addition, when triggered, the stop loss will become a market order that can be executed at the next available market price. Stop loss guarantees the execution of the transaction, but it does not guarantee that the transaction can be executed at a specific price. Therefore, depending on market conditions, stop loss orders may slip.

When your available margin falls to 120%, an additional margin alert will be triggered. The trading column of your account will be displayed in red and flashing constantly. This will happen when your floating loss reduces the net value of your account to less than or equal to your margin requirements. Therefore, unless otherwise noted, the consequence of any margin increase will be the subsequent forced liquidation of the system.

The concept of margin trading is that the customer's margin acts as the actual deposit of the trading face value of the position held, and the customer conducting margin trading can hold a position whose value is much higher than the actual capital amount. The trading platform of the Company has the margin management function and allows the use of leverage. Of course, margin trading involves risks, because leverage may have a positive or negative impact on you. If the net value of the account falls below the margin requirement, the trading platform of the Company will trigger an order to liquidate all open positions. If excessive leverage or trading losses cause the net value of the account to be insufficient to maintain the current open position, additional margin will be required, and all open positions must be closed (automatic settlement).

Please keep in mind that if the available margin on the account is zero, the account will start to activate a red alert. When the margin ratio of your account is lower than the warning line of 120% (advance payment), the system will start to close the current opening position from the position with the most losses. When the margin ratio is equal to or lower than 100%, the system will trigger a forced closing of all opening positions, The automatic settlement program is designed to be fully automatic.

Although the margin call function is intended to close the position when the net account value falls below the margin requirement, there is no liquidity at the actual margin call price in some cases. Therefore, the net value of the account may fall below the margin requirement when the order is executed, or even cause the net value of the account to become negative. This situation is particularly common when the exchange rate is short or in the period of extreme volatility. The Company recommends that traders use stop loss instead of using additional margin as the final stop loss to limit the downside risk.

We strongly recommend that customers maintain an appropriate margin amount in their accounts at all times. You can enter the User Center to apply for adjusting the margin leverage ratio to change your margin requirements, which will be approved by our company. The Company may change the margin requirements according to the account size, opening position at the same time, trading mode and market conditions.