1.1 The aim of these Regulations is to specify the procedure for the processing and execution of client orders.
1.2 Current document is published in open sources and is an essential component of the client agreement.
1.3 RANN LIMITED (or the Company) has the right to amend the provisions of these Regulations. Such changes shall take effect the day notification is provided on the Company’s Website. Clients will be notified by email, but since RANN LIMITED cannot guarantee the reception of such notifications by the Client, publishing on the Website has the priority.
1.4 RANN LIMITED is the Client’s main counteragent when carrying out trading operations.
1.5 Quotes transmitted on the Client’s trading terminal are received from liquidity providers as indicative and represent the current cross section of the market. The Client must not view these quotes as provided on a guaranteed basis by RANN LIMITED for the execution of trades.
1.6 When a price gap occurs in the quote history caused by a hardware or software failure, the Company has the right to synchronize the quote base with any available source and is not responsible for the quality of quotes. The Company shall make every possible effort to maintain the quote base in suitable condition.
1.7 The Client is fully responsible for understanding all aspects of trading, as well as the laws and rules which govern it.
1.8 RANN LIMITED covers all client positions with liquidity providers and has the right to correct or annul any trading operation in accordance with this covering.
1.9 RANN LIMITED offers services over the Internet. The Client acknowledges that there are technical risks involved and bears responsibility for all risks connected with problems relating to connection, as well as with hardware or software, and is obligated to immediately inform RANN LIMITED of any problems so as to receive assistance in fixing them. RANN LIMITED is not an insurance company and does not take any responsibility for any Client’s losses due to technical issues.
1.10 The Client carries out trading operations at the prices offered by RANN LIMITED, which is the Client’s counteragent. Buy orders are executed at the Ask price and sale orders at the Bid price. The result of the order will depend on the type of order and market situation.
1.11 Charts on the MetaTrader platform display the Bid price.
1.12 If there is no trading activity for more than half a year, an inactivity fee of $5 will be charged from the account on a monthly basis.
2. Rollover of Open Positions
2.1 Open positions automatically rollover from one business day to the next with corresponding rates which reflect the cost of the rollover (swap). Swap rates may be either positive or negative depending on market conditions, the instrument in question, as well as the volume of the open position.
2.2 . As a rule, the rollover of open positions to the next day occurs between 23:55 and 00:10 according to MT time. Due to MetaTrader features, trading might not be available at this moment. Current swap rates can be viewed in symbol settings in the trading terminal. The swap rate is tripled for positions carried over from Wednesday to Thursday.
2.3 RANN LIMITED reserves the right to change the swap rate without giving the Client prior notification.
3.1 RANN LIMITED provides the opportunity to trade various instruments. Any changes or additions to the trading terms are displayed in the Contract Specification on RANN LIMITED’ Website in real time. It is important that the Client monitor the Contract Specification in order to keep track of all changes to the trading terms.
3.2 Settlements for trading operations between RANN LIMITED and the Client take place without actual delivery of the product.
3.3 Due to aspects of a non-exchange market and liquidity aggregators, prices offered to the Client for executing trades may differ from those prices transmitted on the trading platform. RANN LIMITED is not responsible for losses the Client may suffer due to the inability to execute trades at the requested prices.
3.4 The Client acknowledges that execution prices may differ from those prices transmitted on the trading platform and under some circumstances might not be present in the tick history.
3.5 The Company has the right to limit liquidity with an inadequately wide spread in order to protect the Client from uncontrolled losses. However, the Company cannot guarantee an adequate price after the order was sent to the counterparty and can send a claim based on a fact of an inadequate execution price. Determining the adequacy of the filtered spread is in the exclusive competence of the Company.
3.6 The Company may implement a suspension in the trading session of an instrument or group of instruments during a bank rollover with the aim of lowering the risk of loss for clients due to a lack of liquidity in the market, and as a consequence, substantially widened spreads. The trading sessions for each instruments and times of suspended trading are indicated on the company’s website in the contract specification section. The Client acknowledges that a lack of liquidity and a widened spread may fall outside the bounds of the implemented suspension. The Company recommends taking these factors into account when formulating a trading strategy.
4.1 RANN LIMITED offers clients variable spreads which size depends on the current market situation.
5. Opening and Closing Positions
5.1 Opening positions takes few stages described in the current paragraph.
5.1.1 The Client sends an opening/closing market order to buy or sell of a needed volume at the current price.
5.1.2 The terminal checks if the order is correct and sends it to the server.
5.1.3 The server accepts the order and sends it to the provider offering the best price at the moment. The order is blocked while on execution and cannot be cancelled.
5.1.4 After receiving a respond from the provider the server unblocks the order and confirms execution in the execution report at the price received from the provider. Actual execution price may differ from the terminal price at the moment of sending the order.
5.1.5 In case of a partial execution by the provider, prior to sending a report the server will try to execute the rest of the volume. If not successful, the Client will receive a partial execution report.
5.1.6 In case of a receiving a reject from the provider, prior to sending a reject to the Client the server will try to send the order again. If not successful, the Client will receive a reject.
5.2 Closing of position is performed by sending a closing market order and goes through all stages described in paragraphs 5.1.2 – 5.1.6.
5.3 The execution time depends on many factors including the time it was with the counterparty. During high volatility or lack of liquidity, the execution time may increase.
5.4 The Client has the right to close a position fully or partially by specifying the volume accordingly.
6. Pending Orders
6.1 A pending order is a client request to open or close a position when the price reaches a specified level. The Ask price activates the order for a buy, and the Bid price for a sell.
6.2 There are six types of pending orders: Buy Limit (limit order for a buy), Sell Limit (limit order for a sell), Buy Stop (stop order for a buy), Sell Stop (stop order for a sell), Stop Loss, and Take Profit.
6.3 A Buy Limit (limit order for a buy) is an order to buy at a price lower than the current market price. The result of the activation of a Buy Limit order may be the opening of a new buy position at the specified price or better (positive slippage). If there is not enough liquidity, the limit order may be only partially executed or may not be executed at all (in this case the order remains in the market). If the order is partially executed, a limit order for the remaining volume with the same parameters will be put forth to the market.
6.4 Sell Limit (limit order for a sell) is an order to sell at a price higher than the current market price. The result of the activation of a Sell Limit order may be the opening of a new sell position at the specified price or better (positive slippage). If there is not enough liquidity, the limit order may be only partially executed or may not be executed at all (in this case the order remains in the market). If the order is partially executed, a limit order for the remaining volume with the same parameters will be put forth to the market.
6.5 Buy Stop (stop order for a buy) is an order to buy at a price higher than the current market price. When the price reaches the Buy Stop level, a market order is put forth to buy the specified volume. The result of the activation of a Buy Stop order may be the opening of a new buy position. The execution price may differ either positively or negatively from the price indicated in the order. The result of execution will depend on the market situation and current liquidity.
6.6 A Sell Stop (stop order for a sell) is an order to sell at a price lower than the current market price. When the price reaches the Sell Stop level, a market order is put forth to sell the specified volume. The result of the activation of a Sell Stop order may be the opening of a new sell position. The execution price may differ either positively or negatively from the price indicated in the order. The result of execution will depend on the market situation and current liquidity.
6.7 A Stop Loss order is used for the aim of closing an open position. This order closes a buy position at a price lower than the market price, or closes a sell position at a price higher than the market price. The rules of execution for Stop Loss orders are analogous to those for Buy Stop and Sell Stop orders.
6.8 A Take Profit order is used for the aim of closing an open position. This order closes a buy position at a price higher than the market price, or closes a sell position at a price lower than the market price. The rules of execution for Take Profit orders are analogous to those for Buy Limit and Sell Limit orders.
6.9 . Stop Loss and Take Profit orders have the status GTC (Good Till Cancelled), whereas Buy Limit, Sell Limit, Buy Stop, and Sell Stop orders can have GTC status or GT (Good Till) status, which means that the Client can set how long the order is valid for.
6.10 Execution of a pending Stop order takes few stages described in the current paragraph.
6.10.1 The price activates a Stop order for Buy, Sell or closing of a position.
6.10.2 The server checks for the required free margin availability and sends the order to the provider with the best price at the moment for execution. Free margin calculation is performed at the moment of execution and not at the moment of activation of the order and may differ from what is supposed by the Client and the Client needs to take it into consideration when planning the trading. While the order is being executed by the provider, the server blocks it and it cannot be cancelled.
6.10.3 After receiving a respond from the provider, the server unblocks the order and confirms execution at the price received from the provider in the execution report. Real execution price may differ from the price in the order.
6.11 Execution of a pending Limit order takes few stages described in the current paragraph.
6.11.1 The price activates a Limit order for Buy, Sell or closing of a position.
6.11.2 The server checks for the required free margin availability and sends the limit order to the provider with the best price at the moment for execution. Free margin calculation is performed at the moment of execution and not at the moment of activation of the order and may differ from what is supposed by the Client and the Client needs to take it into consideration when planning the trading. While the order is being executed by the provider, the server blocks it and it cannot be cancelled.
6.11.3 After receiving a respond from the provider, the server unblocks the order and confirms execution at the price received from the provider in the execution report. Real execution price may differ from the price in the order for the better only.
6.11.4 In case of a partial execution, the Client receives the partial execution confirmation and an order with the same parameters is set again for the unexecuted part.
6.12 . In order to automate the placement of Stop Loss orders with the aim of maximizing profit, MetaTrader offers the possibility of placing Trailing Stop orders. A Trailing Stop works only when the Client’s terminal has been launched. The result of the activation of a trailing stop is the submission of a request to modify the Stop Loss level, which essentially is no different from orders sent by the client. The Client should take into account the fact that the Trailing Stop function does not guarantee the placement of the stop exactly according to the tick history.
7.1 The Client is obligated to support the margin level at no lower than 100%, taking into account floating leverage levels listed on the website on Margin requirements page.
7.2 The Company has the right to reject any order to open a position if there is not enough free margin on the Trading Account.
7.3 The Company has the right, but is not obligated, to close any position if the margin level on the Trading Account has gone below 60%. As a rule, though not always, the most loss-making position is closed first.
7.4 The Company has the right to reduce the leverage offered to any client with prior notice. The Company also has the right to suspend the client’s trading if the Company is unable to contact the client using all available methods.
8. Manifest Error
8.1 A manifest error is the carrying out of the Client’s trading operations at an erroneous price. The reasons for such errors can be the following: human factor, technical malfunction, other reasons.
8.2 RANN LIMITED has the right to cancel or adjust any of the Client’s trading operations if there are grounds to believe that a manifest error was committed while carrying out these operations.
9. Force Majeure
9.1 Force majeure circumstances are considered to be such unforeseen events as natural disasters, war, sabotage, global technical malfunctions, as well as a complete lack of liquidity in the market.
9.2 In the event of the occurrence of one or more of the above-listed events and its designation by RANN LIMITED as a force majeure circumstance, RANN LIMITED ceases being bound to the obligations of this agreement and will not be liable for any consequences of such an event.
9.3 RANN LIMITED is required to provide the best possible prices and ensure the best possible execution during force majeure circumstances.
10. Negative Balance
10.1 If a negative balance arises on the Trading Account, the debt must be liquidated by the Client within 10 days using any of the available deposit methods. The failure to fulfill this requirement may lead to legal action. RANN LIMITED establishes the trading terms (size of leverage, stop out level) in such a fashion as to reduce the possibility to a minimum of the balance of the Trading Account becoming negative. The Client, in turn, is obligated to maintain the margin level on the account at a level no lower than 100%.
10.2 If the Client chooses leverage of 1:10 or less, the Company guarantees that a stop out of the client’s positions will not lead to a negative balance. The client must not have any open positions when changing the leverage.
11. Procedure for Filing a Claim
11.1 Despite all efforts made by RANN LIMITED to service its clients at the highest possible level, the Client is not always satisfied with the results of RANN LIMITED’ service. Any question which the Client may have must be submitted within two days of the moment the question arises. RANN LIMITED reserves the right to refuse to review a Client’s question if it is not submitted within the specified period.
11.2 A claim made in writing must be sent by the Client to the Company by email. The claim must contain the number of the Trading Account, number of the disputed order, and the nature of the claim. The claim must not contain abusive or offensive language or an emotionally charged description of the situation, otherwise it may be rejected.
11.3 RANN LIMITED shall review the Client’s claim and make a final decision within five calendar days of having received it. In certain exceptional cases, the time period for review of the claim may be increased.
11.4 The log-file of the Company’s server shall be the main source of information for the review of the claim.
12.1 RANN LIMITED does not place any restrictions on the type of trading strategies which may be used and Clients are welcome to use any method, including scalping.
13. Advisors and Indicators
13.1 The Client takes full responsibility and assumes all risks connected with the use of any application or software from external developers which is directly or indirectly installed on the Client’s trading platform. Such software may include various kinds of indicators which are designed to determine favorable trading periods.
13.2 RANN LIMITED is not responsible for the trading operations and signals generated by trading advisors or indicators nor is it responsible for the profits or losses achieved as a result of their use. The Client bears full responsibility for control over all trades made on the Trading Account, as well as for all profit and loss resulting from such trades.
13.3 If an unproductive burden on the server arises, RANN LIMITED reserves the right to prohibit the use of advisors or fully close trading on the Trading Account.
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