Trading

Rules

Zero

Commission

Leverage

Fixed & Floating

Fixed &

Floating

Spread

Tradable Symbols
Market Hours
Fees
Margin Rules
Order Features
Settlement & Rollover

Tradable Symbols - Gold / Silver

Symbol Category	GOLD_STD (Fixed spread)	GOLD (Floating spread)
Spread	0.4 or 0.5 USD²	Variable
Tick Size	0.01 USD	0.01 USD
Trade Size per Lot	100 oz	100 oz
Min Limit per Order	0.1 lot (10 oz)	0.01 lot (1 oz)
Max Limit per Order	20 lots (2,000 oz)	3 lots (300 oz)
Features	Fixed spread, improved transaction smoothness	Generally low spreads, reduced trading costs
Max Leverage Ratio³
– Standard A Account	50x	50x
– Standard B Account	100x	100x
– Standard C Account	200x	200x
– Standard D Account	400x	400x
Max Net Holding	Max Net Holding of all Standard Account is 20 lots of Gold/Silver

Symbol Category	SILV_ (Floating spread)
Spread	Variable
Tick Size	0.001 USD
Trade Size per Lot	5,000 oz
Min Limit per Order	0.01 lot (50 oz)
Max Limit per Order	10 lots (50,000 oz)
Features	Generally low spreads, reduced trading costs
Max Leverage Ratio³
– Standard A Account	25x
– Standard B Account	50x
– Standard C Account	100x
– Standard D Account	200x
Max Net Holding	Max Net Holding of all Standard Account is 20 lots of Gold/Silver

² Spreads may widen due to volatile market conditions. The above spreads reflect normal market circumstances.

³ For new clients, the default maximum leverage ratio is Gold 50 times and Silver 25 times. If you want to adjust the maximum leverage ratio, please fill in the 「Leverage Ratio Adjustment Application Form」.

Market Hours

All times shown below are in Hong Kong Time, GMT+8.

Eastern Standard Time

All Gold & Silver Products
Trading	Monday to Friday excluding New Year and Christmas holidays
Trading Hours	Monday 7:30am to 5:45am
	Tuesday 7:15am to 5:45am
	Wednesday 7:15am to 5:45am
	Thursday 7:15am to 5:45am
	Friday 7:15am to 5:30am
	Trading hours may be affected by U.S. bank holidays. You will be notified in advance by email.
Scheduled Maintenance	Daily 5:45am to 7:15am Saturday 5:30am to Monday 7:30am

Eastern Daylight Time

All Gold & Silver Products
Trading	Monday to Friday excluding New Year and Christmas holidays
Trading Hours	Monday 6:30am to 4:45am
	Tuesday 6:15am to 4:45am
	Wednesday 6:15am to 4:45am
	Thursday 6:15am to 4:45am
	Friday 6:15am to 4:30am
	Trading hours may be affected by U.S. bank holidays. You will be notified in advance by email.
Scheduled Maintenance	Daily 4:45am to 6:15am Saturday 4:30am to Monday 6:30am

Note: MT4 is set to Greenwich Mean Time (GMT) + 0 hour

Fees

Account Opening Fee	Free
Auto-Closeout Fee	NIL

Know more:
Trading Cost

Margin Rules

Account Currency		USD only
Minimum Initial Deposit		NIL
Maximum Leverage	GOLD	50/100/200/400 times⁴
Maximum Leverage	SILVER	25/50/100/200 times⁴
Margin Call		No margin call will be issued.
Auto-Closeout	Standard A, B and C Account	Your Positions will be closed out and pending orders will be cancelled automatically if net equity falls below 60% of margin ratio in USD.
Auto-Closeout	Standard D Account	Your Positions will be closed out and pending orders will be cancelled automatically if net equity falls below 100% of margin ratio in USD.

⁴ For new clients, the default maximum leverage ratio is Gold 50 times and Silver 25 times. If you want to adjust the maximum leverage ratio, please fill in the 「Leverage Ratio Adjustment Application Form」.

Know more:
How to calculate Leverage Ratio ?

Order Features

Bullion Quotes		Two way pricing – Sell and Buy
Trading Platform		MT4 MT4 for iOS and Android powered devices Our operators will not accept any orders via phone or other means except for system and / or internet failure.
Order Type		One-Click Order / Market Order / Limit Order / Stop Order / Take Profit Order / Stop Loss Order
Minimum Limit/Stop Distance	GOLD	0.5
Minimum Limit/Stop Distance	SILVER	0.05
Expiry Type		Good-Till-Cancelled (GTC) Good-Till-Date (GTD)
Hedging		This is an optional feature. Although it is a convenient feature to enter hedged trades at the same time, we do not recommend the usage of the feature to our users. You should be aware of the various factors that could affect your account balance as a result of executing such hedged trades: Possible negative rollover (i.e., rollover charges may be higher than rollover accruals) if hedged positions are held overnight; or You will be subject to twice the usual trading cost when closing these hedged trades. You will only be required to hold one set of Margin for hedging trades, with this amount being the average required margin for the two hedging positions. There must be sufficient Margin in your trading account in order to open the hedging position. It will be your responsibility to continually monitor your positions and Max Online will be not liable for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of this feature.
Cash-on-Delivery (Physical Settlement)		Not available

Know more:
About Bullion's price quote
Profit and loss calculations

Settlement & Rollover

Profit / Loss Settlement

Realised trading profit/loss will be settled (i.e., credited to or debited from the cash balance) at Trading Close.

Rollover

The realised amount will be settled (i.e., credited to or debited from the cash balance) at Trading Close.

Please note that “3-day” rollover will be applied to all open positions at trading close on Wednesdays. U.S. bank holidays may also affect the number of days worth for each rollover.

Rollover rates for each product are clearly detailed on the MetaTrader 4 platform. You may check the debited or credited rollover amount under Account History on the platform (For more details, please refer to our MT4 user guide). Alternatively, you may check the rollover amount applied to your open positions via the Client Statement which is emailed to you after each trading close.