MARGIN CLOSE-OUT RULE: HEDGE OF NEWEST POSITIONS
I, the Client, hereby instruct the Company to apply the below Margin Close-Out (MCO) Rule to my trading account.
Your MCO Rule request has been submitted.
The company will process your request within (3) working days.
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When MCO is triggered a full-hedged position to the position that was opened last will be opened automatically, i.e. in the opposite direction and same amount to the position that was opened last. This action will be repeated at any time MCO is triggered and may be repeated until all open positions are hedged.
In case of any existing Stop Loss or Take Profit, the new related position will have the same rate(s). Also, a Stop Loss on the primary position will become a Take Profit on the new related position, and a Take Profit on the primary position will become a Stop Loss on the new related position. I am fully aware that in case the market moves too fast and there is a requote, the system may not hedge the relevant position. In case MCO is triggered and the symbol of a position is out of market hours, then the position will not be hedged.