Risk  Warning

Margin trading involves high risks, and its losses may exceed the deposited funds, which may not be suitable for all investors. Before you decide to buy or sell the products provided by Tshan Markets Pty Ltd, 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 content of this website are not intended to be personal suggestions. Possible situations include incurring losses in excess of the deposited funds. Therefore, you should not use capital that cannot bear the loss for speculation. Investment should be aware of all risks associated with margin trading. The company recommends that you seek advice from an independent financial advisor.

The use of the online transaction execution system carries certain risks, including (but not limited to) hardware failure, software failure and network system connection problems. Since the company cannot control the strength of the connection signal, its reception or router line, your device configuration or the reliability of its network connection, we are not responsible for communication failures, miscommunication or delays in network transactions. The company has back-up systems and emergency contingency plans to minimize the possibility of system failure. This includes allowing customers to conduct transactions over the phone.

In the first few hours after the market opened, the transaction tendency was calmer than usual until the opening of Tokyo and London. When the market is calm, there are fewer buyers and sellers, and the price difference is larger. This is roughly because the first few hours of market opening are still weekends for most parts of the world. Liquidity may also be affected when the transaction is rolled over (5:00 pm EST), because many of our liquidity providers will temporarily interrupt the network to settle the transaction on the day, and this may also be due to lack of Due to liquidity, the bid-ask spread at that time is relatively large. When the market lacks liquidity, traders may find it difficult to establish or close positions at the requested price, encounter delays in execution, and obtain an execution price that is far from the requested 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 profit) caused by the direct or indirect use or reliance on such information.

The company provides contract order transaction execution through the company's processing methods. Under this model, the quotation provided by the company to customers is the best price given by one of the company’s liquidity providers plus the additional spreads for each currency pair or contract. In this model, the company does not act as a market maker for 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, certain restrictions on liquidity may affect the final execution of your order.

For different reasons, there may be transaction delays when using the company's  no-dealer platform international futures execution mode, such as the Internet technology problem of the trader connecting to the company, the liquidity provider’s delay in order confirmation, or the trader’s attempt The currency pairs bought and sold lack available liquidity. Based on the inherent volatility of the market, it is very important for traders to have an operational and reliable Internet connection. In some cases, the signal strength of the wireless or dial-up connection is not enough, which causes the trader's personal Internet connection to fail to maintain a stable connection with the company's server. The interruption of the connection path sometimes interferes 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.

There may be so many orders during market volatility that it is difficult to execute transactions at the specified price. By the time the order is executed, the buying/selling price that the liquidity provider is willing to accept may have changed by several points. If the liquidity is insufficient to execute the "set range" order, the order will not be executed. In the case of limit pending orders or limit orders, the order will not be executed, but will be reset until it is executed. Please keep in mind that limit orders and limit orders guarantee prices, but they cannot guarantee transaction execution. Depending on the relevant trading strategy and relevant market conditions, traders may pay more attention to transaction execution than the price obtained.

The bid-ask spread may sometimes be higher than the general spread. The bid-ask spread may change with market liquidity. During the period of limited liquidity, when the market opens, or during the rollover period at 5:00 p.m. Eastern Time, the bid-ask spread may increase due to uncertain factors in the price direction or market volatility. Or lack of market liquidity and expand. It is not uncommon for the bid-ask spread to expand, especially during rollover. Trading rollover is generally a period when the market is very quiet, because the working day in New York has just ended and there are still several hours before the start of the new working day in Tokyo. Recognizing these patterns and taking them into consideration when trading with unclosed orders or establishing new transactions at these times can improve your trading experience. This may happen during the press release, and the bid-ask spread may increase substantially to compensate for the huge market volatility. Higher bid-ask spreads may only last for a few seconds or as long as a few minutes. The company strongly encourages traders to be prudent in trading during the press release, and should always pay attention to their account equity, available margin and market risks. Higher bid-ask spreads may adversely affect all positions in the account, including hedging positions.

Please keep in mind that each instruction is only created once. Repeatedly establishing the same order may slow down or lock up your computer, or unintentionally open a position other than your intention. If you cannot connect to the company's trading platform to manage your account at any time, you can directly contact the customer service center.

When the international futures and contract liquidity providers that provide quotations to the company do not actively create a market for a certain currency pair, and the liquidity declines due to this, there will be hidden quotations. The company will not deliberately "hide" the quotation; however, sometimes due to the interruption of contact with a certain provider, or when a certain announcement has a significant impact on the market and restricts liquidity, it may cause the bid-ask spread to increase significantly. Hidden quotations or widening of the spread may cause the trader’s account to require a margin call. When an order issued for a currency pair is affected by a hidden quote, the profit/loss figure will temporarily display as zero, and the system can calculate the profit/loss balance until the currency pair has a trading price again.

The hedging function allows traders to hold both buying and selling positions of the same currency pair at the same time. When entering the market, traders do not need to choose the buying and selling direction of 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 completely hedge above the quantity, not the price. This is due to the difference (or bid-ask spread) between the buying and selling prices. Traders of the company will need to deposit margin for one of the directions of hedging positions (the direction with a larger number of positions). Margin requirements can often be monitored in the simple quote window. Traders may feel that the hedging function is useful, but they should be aware of the following factors that may affect the hedging position.

As the bid-ask spread may widen and reduce the remaining available margin in the account, even if an account has been fully hedged, a margin call may still be required. If the remaining margin is not enough to maintain any open positions, the account may require a margin call and the open positions in the account will be closed. Although holding long and short positions makes traders feel that the impact of market changes is limited, in fact, at any time the bid-ask spread expands and the available margin is insufficient, it is absolutely possible that there will be a need to add margin 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 currencies. Rollover (overnight interest) also refers to the interest paid or earned by the trading account for holding positions overnight. Overnight time refers to the company's various platforms after 5 pm Eastern Time. The time to close and reopen a position and calculate the overnight fee is generally called a trade rollover (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 overall, the difference between the overnight interest paid and earned can still lead to losses. During the rollover period, the bid-ask spread may be larger compared to other times, because the liquidity provider may temporarily disconnect to settle the transaction on the day. During the rollover period, please manage your positions accordingly and understand the impact of the expansion of the bid-ask spread on the current/open positions or new positions/orders

Exchange rate fluctuations or point value is defined as the value of a currency pair that changes in one point. This cost is equivalent to the profit or loss caused by every change in the exchange rate of the currency pair, and is displayed in the currency unit of the account to which the trading currency pair belongs. To view the value of each point of any currency pair on the company's various platforms, you can select "Display" in the menu bar, then click "Window Display", and then select "Easy Mode". If the "Easy Mode" has been selected, just click on the "Easy 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 company's platform to trade international futures or other contracts in a no-dealer platform execution mode, you are trading at the quotations provided by multiple liquidity providers plus the company's high ideas. In rare cases, the offer may be disturbed. Although this situation may only last for a short time, it will cause the price difference to reverse. The company recommends that customers should avoid establishing market orders once they encounter this rare situation. Although "cost-free transactions" are attractive, it must be remembered that these prices are not true, and the transaction price may be quite different from the displayed price in points. If the transaction price is not the actual exchange rate provided by the company's liquidity provider to the company, the company will treat the transaction as invalid and reserve the right to cancel the transaction. In such cases, customers can only place orders within a set range or suspend trading to avoid related risks.

Trading desk hours: The official trading hours of the trading desk are from 5:15 pm EST Sunday afternoon to 4:55 pm EST Friday afternoon. Please note that previously established orders may be executed before 5:00 pm Eastern time, and traders who set up trades between 4:55 pm and 5:00 pm Eastern time may not be able to cancel pending orders. If a GTC market order happens to be transmitted at the close of the market, it may not be executed before the market opens on Sunday. Please be cautious when you trade close to the close of Friday, and all the above information should be taken into consideration in the trading decision. The trading desk may change the opening or closing time because it relies on the quotations provided by the liquidity provider to the company. Outside of these hours, most major banks and financial centers are closed. Due to the lack of liquidity and trading volume during the weekend, order execution and quotation will be blocked.

A short time before the opening of the market, the trading desk updates the quotation to reflect the current market price in preparation for the opening. During this period, the trades and orders reserved on the weekend are waiting to be executed, so the newly created orders cannot be executed at the market price. After the market opens, traders can create new transactions, and cancel or modify original pending orders.

The opening price on Sunday may be the same or different from the closing price on Friday. The exchange rate opened 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 of important news announcements or economic events that change the market's view of the value of a certain currency, the exchange rate may have a large gap. Traders holding positions or pending orders over the weekend should be aware of the possibility of price gaps.

Limit orders are usually executed at the requested price or better. If the specified price (or better) is not available in the market, the order will not be executed. When the market price reaches the price of the stop loss requirement when the market opens on Sunday, the order will become a market order. The limit order will be executed in the same way as the limit order. Stop loss pending orders will be executed in the same way as stop loss.

Some traders worry that the market is very volatile during the weekend, and the exchange rate may gap up sharply, or think that the weekend risk is inconsistent with their own trading style, and they can directly close the pending orders and positions before the weekend. Traders who hold open positions over the weekend must understand that there may be major economic events and news announcements that may affect the value of relevant positions. Based on the volatility presented by the market, it is not uncommon for prices to deviate from many pips when the market opens when the market opens. We encourage all traders to take this into consideration before making a trading decision.

It is very important to distinguish between the reference price (shown on the chart) and the tradable price (shown on the company's trading platform). The reference quotation is indicative of the market price and the range of changes. These prices come from banks and settlement agencies, etc., and may not reflect the prices of the company's liquidity providers. The reference price is usually very close to the transaction price, but it can only serve as an indicator of market conditions. Tradeable quotations ensure specific execution and low transaction costs. Since the international futures market does not have a single central exchange for all transactions, the quotations of each international futures dealer are slightly different. Therefore, if the quotation of a third-party chart provider does not use the quotation of a market maker, it can only As a reference price, it does not necessarily reflect the actual exchange rate that can be traded.

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

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 does not guarantee that it can be executed at a specific price. Therefore, depending on market conditions, stop-loss orders may have slippage.