Risk warning

Please be sure to read and understand the following:

High risk investment

CHIFLEY provides contract order transaction execution via CHIFLEY processing. Under this model, the quote provided by CHIFLEY to the customer is the best price given by one of the liquidity providers CHIFLEY plus the spread added to each currency pair or contract. In this mode, CHIFLEY is not a market maker for any currency pair or contract. Therefore, CHIFLEY relies on these external providers to provide international futures and contract quotes. While this model can promote efficiency and market pricing competition, certain restrictions on liquidity may affect the final execution of your order.

Order delay execution

For different reasons, there may be transaction delays in the international futures execution mode of the non-trader platform using CHIFLEY, such as Internet technology issues where the trader connects to CHIFLEY, and the liquidity provider appears in the order confirmation Delays, or currency pairs that traders try to buy or sell, lack liquidity. Based on the inherent volatility of the market, it is important for traders to have a working and reliable Internet connection. In some cases, due to insufficient signal strength of the wireless or dial-up connection, the trader's personal Internet connection failed to maintain a stable connection with the CHIFLEY server. Interruptions in the connection path can sometimes interfere with the signal, causing the CHIFLEY trading platform to not function properly, thus delaying the transfer of data between the platform and the CHIFLEY server. To check the internet connection to the CHIFLEY server, you can test your computer's connection to the server.

Transaction order reset

There may be a lot of instructions during market volatility, making it difficult for transactions to be executed at a specified price. By the time the order is executed, the bid/ask price that the liquidity provider is willing to accept may have changed by a few pips. If the liquidity is insufficient, the "Setting Range" list cannot be executed and the instruction will not be executed. In the case of a limit order or a limit order, the order will not be executed and will be reset until it is executed. Please keep in mind that limit orders and limit orders guarantee prices, but they cannot guarantee the execution of the trade. Depending on the relevant trading strategy and the relevant market conditions, the trader may be more concerned with the execution of the trade than the price obtained.

Bid-ask spread

The bid-ask spread may sometimes be higher than the normal spread. The bid-ask spread may change with market liquidity. During periods of limited liquidity, during market opening, or during 5:00 pm EDT, the bid-ask spread may be subject to uncertainties in the price direction or market volatility. Or expand without market liquidity. It is not uncommon for a bid-ask spread to expand, especially at the time of a rollover. Trading a short position is generally a very quiet period of the market, as the working day in New York has just ended, and there are still hours away from the start of a new working day in Tokyo. Knowing these patterns and taking them into account when trading or creating new deals with unsettled orders 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. Higher bid-ask spreads may only last for a few seconds or as long as a few minutes. CHIFLEY strongly encourages traders to be cautious when trading during the press release, and should always pay attention to their account equity, available margin and market risk. A higher bid-ask spread may adversely affect all positions in the account, including hedge positions.

Trading instruction vacant

The instruction may be suspended during periods of high transaction volume. In this case, the instruction is in the process of execution, but the transaction execution has not been confirmed. The relevant instructions will be displayed in red, and the "Status" column of the "Instruction" window will be displayed as "Executed" or "Processing". In these cases, the instruction is in the process of execution, but it remains to be executed until CHIFLEY has received confirmation from the liquidity provider that the offer is still available. During frequent trading, multiple instructions may need to be processed. The increase in waiting orders sometimes affects the liquidity provider's delay in confirming several instructions.

Depending on the type of instruction issued, the results may vary. If the "Setting Range" is not executed within the specified range, or if the delay has come to an end, the order will not be executed. If set as a market order, the order will be traded as much as possible on the next available price in the market. In both cases, the "Status" column of the "Instructions" window generally displays as "Executed" or "Processing", and it takes a little time for the transaction to appear in the "Open Position" window. Depending on the type of order, the transaction may have been executed, but the display is delayed due to the busy network.

Please keep in mind that each instruction is only created once. Repeating the same instruction may slow down or lock your computer, or inadvertently open a position other than your wishes. If you are unable to connect to the CHIFLEY trading platform at any time to manage your account, you can contact the Customer Service Center directly.

Hide order quotation

When international futures and contract liquidity providers that provide quotes to CHIFLEY do not actively create a market for a currency pair, and liquidity declines, there will be hidden quotes. CHIFLEY does not intentionally "hide" quotes; however, sometimes because of a disruption in contact with a provider, or when a publication has a significant impact on the market that limits liquidity, it can cause a significant increase in the bid-ask spread. . A hidden offer or an enlarged spread may result in a margin call for the trader's account. When the order issued by the currency pair is affected by the hidden quote, the profit/loss number will temporarily show zero until the currency pair has a tradeable price, and the system can calculate the surplus/loss balance.

Trading order hedging

The hedging function allows traders to hold both buy and sell positions in the same currency pair. Traders can enter the market without having to choose a direction for a currency pair. Although hedging can reduce or limit future losses, it is impossible to avoid further losses on the account. In the international futures and CFD contract market, traders can fully hedge above the quantity, not the price. This is due to the difference between the buy and sell prices (or the bid-ask spread). CHIFLEYTraders will need to deposit a deposit in one of the directions (height positions) of the hedge position. Margin requirements can often be monitored in the simple quote window. Traders may feel that the hedging function is useful, but be aware of the following factors that may affect the hedging location.

Margin reduction

As the spread of the spread may increase, the remaining margin available in the account is reduced, and even if an account is fully hedged, additional margin may be required. If the remaining margin is not sufficient to maintain any open positions, the account may be subject to additional margin and the open positions in the account will be closed. Although holding long and short positions makes traders feel that the influence of market changes is limited, in fact, at any time when the bid-ask spread is widened and the available margin is insufficient, it is absolutely possible to have a margin call for all positions.

Order rollover cost

Rollover refers to the process of closing and opening a position at the same time of the day to avoid settlement and settlement of currency. Rollover (overnight interest) also refers to the interest paid or earned by the trading account holding the position overnight, and the overnight time is after 5 pm EST on various platforms of CHIFLEY. The time to close and reopen a position and calculate the overnight fee is generally referred to as a 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 generally equal, the difference in the overnight interest paid and received can still result in a loss. During the rollover period, the bid-ask spread may be larger relative to other times, as the liquidity provider may temporarily disconnect to settle the transaction on the day. Please manage your positions accordingly during the rollover and understand the impact of the spread of the spreads on existing/open positions or new positions/instructions.

Fluctuation per point value

Exchange rate fluctuations or value per point are defined as the value of a currency pair's change. This cost is equivalent to the profit or loss caused by each change of the currency pair on the exchange rate, and is displayed in the currency unit of the account to which the transaction currency belongs. To view the value of each point of any currency pair on the various platforms of CHIFLEY, select "Show" in the menu bar, then click "Window Display" and then select "Easy Mode". If "Easy Mode" is selected, simply click on the "Simple Quote Window" in the quotation window and the value of each point will be displayed on the right side of the window.

Quote reverse price difference

When you trade international futures trading on the CHIFLEY platform and trade international futures or other contracts in a no-trader platform execution mode, you are using the price quoted by multiple liquidity providers plus the rating of CHIFLEY The idea of ​​trading. In rare cases, quotes may be subject to interference. Although this situation may only last for a short time, it will cause the price to reverse. CHIFLEY advises customers to avoid creating market orders in the unlikely event of such a rare situation. Although "no-cost trading" is attractive, it must be borne in mind that these prices are not true, and the transaction price may be quite different from the displayed price. If the transaction price is not the actual exchange rate provided by {liquid:cpfname}'s liquidity provider to CHIFLEY, CHIFLEY will treat the transaction as invalid and reserve the right to revoke the transaction. In such cases, the customer only has to set a range of instructions or suspend the transaction to avoid the associated risks.

Holiday/weekend execution

Trading desk time: The trading hours of the trading desk are from 5:15 pm EST on Sunday to 4:55 pm EST on Friday. Please note that previously created orders may be executed before 5:00 pm EST, while traders who establish trades between 4:55 pm and 5:00 pm EST may not be able to cancel pending orders. If the pre-cancellation (GTC) market order is transmitted at the close of the market, it may happen that it may not be executed before the market opens on Sunday. Please be careful when trading close to the market close to Friday, and all the above information should be included in the transaction decision. The trading desk may change the opening or closing time because it relies on the offer provided by the liquidity provider to CHIFLEY. Outside of the above periods, most major banks and financial centers are closed. Due to the lack of liquidity and trading volume at the weekend, both the execution of orders and quotations will be blocked.

Opening quote

Shortly before the opening, the trading desk updated the quotation to reflect the current market price and prepared for the opening. During this time period, the transactions and orders retained on the weekend are awaiting execution, so the newly created instructions are not executed at the market price. After the opening, the trader can create a new transaction and cancel or change the original pending order.

Market quotes gap

The opening price on Sunday may or may not be the same as Friday's closing price. The exchange rate 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 an important news announcement or an economic event that changes the market's perception of the value of a certain currency, there may be a large gap in the exchange rate. Traders holding positions or pending orders over the weekend should be aware that the price may be gapped.

Order instruction execution

Limit orders are usually executed at a request or better price. If there is no specified price (or better price) on the market, the order will not be executed. At the opening price on Sunday, the market price will reach the price of the stop loss request, and the order will become the market order. Limit orders will be executed in the same way as limit orders. Stop Loss orders will be executed in the same way as Stop Loss.

Weekend risk

Some traders are worried that the market will be very volatile during the weekend, the exchange rate may be significantly gapped, or that the weekend risk is inconsistent with its own trading style, and the pending orders and positions will be closed directly before the weekend. Traders who hold positions to open positions must understand that there may be significant economic events and the impact of press releases on the value of the relevant positions. Based on the volatility presented by the market, it is not uncommon for prices to deviate from many points at the close of the market. We encourage all traders to take this into account before making a trading decision.

Chart price and market price

It is important to distinguish between the reference price (shown on the chart) and the tradable price (shown on the CHIFLEY trading platform). Reference quotes have an indication of market prices and ranges of changes. These prices come from banks and settlement agencies and do not necessarily reflect the price of CHIFLEY's liquidity provider. The reference price is usually very close to the transaction price, but it can only be used as an indicator of market reality. The tradable quotes guarantee specific execution and lower transaction costs. Since there is no single central exchange transaction in the international futures market for all transactions, the quotes of each international futures dealer are slightly different. Therefore, the quotes of third-party chart providers can only be quoted if they are not quoted by a market maker. As a reference price, it does not necessarily reflect the actual exchange rate that can be traded.

Mobile trading platform

There are a number of inherent risks associated with the use of mobile trading technology, such as repeated instructions, delays in quotes, and other issues arising from mobile connections. The price displayed on the mobile platform is only a display of the executable price and may not reflect the actual execution price of the order.

Mobile trading platforms use public communication network lines to transmit information. CHIFLEY is not responsible for any and all circumstances, such as delays in your quotes or failure to trade due to network line transmission issues or any other issues beyond the direct control of CHIFLEY. Transmission issues include, but are not limited to, the strength of mobile signals, delays in mobile phones, or anything else that may arise between you and any Internet service provider, telephone service provider, or any other service provider.

Please note that some features of the CHIFLEY trading platform are not available on the CHIFLEY mobile trading platform. The main differences include (but are not limited to) charts that will be limited, do not show daily overnight interest and do not provide maintenance margin requirements for each financial instrument. It is highly recommended that customers familiarize themselves with the CHIFLEY mobile trading platform before managing their live accounts through mobile devices.

Order slippage

Slippage CHIFLEY is committed to providing the best deal execution for our clients and is committed to trading all orders at the required price. Even so, sometimes orders may be affected by slippage based on market volatility or increased trading volume. Slippages occur most often during periods of underlying news events or limited liquidity. In the case of a transaction rollover (5:00 pm EST), this is a period of limited liquidity, as many liquidity pickers will settle the day's transactions. During these periods, your order type, quantity required, and specific instruction instructions may affect the overall execution of the transaction you receive.

Examples of specific instruction indications include: Valid before cancellation (GTC): Your entire order will be executed at the time of receipt of an available price. Instant or Cancelled (IOC): All or part of your order will be executed at a price available, and if there is no liquidity to execute your order immediately, the balance will be cancelled. Full execution or immediate cancellation (FOK): The instruction must be executed in its entirety, otherwise it will not be executed.

Market fluctuations can cause situations where instructions are difficult to enforce. For example, the price you receive when executing your order may differ from the price you choose or report based on market movements. In this case, the trader expects to execute the trade at the specified price, but for example, in less than one second, the market may have significantly deviated from the price. The trader's order will then be executed for that particular order by pressing an available price. Similarly, based on the CHIFLEY platform's international futures execution model of CHIFLEY, there must be sufficient liquidity to execute all transactions at any price.

CHIFLEY provides a variety of basic and advanced instruction categories to help customers reduce execution risk. One way to reduce the risk associated with slippage is to use the "Set Range" feature on the CHIFLEY platform. The "Set Range" feature allows traders to specify the amount of potential slippage they are willing to accept on a market order by defining a range. Zero means no slippage is allowed. If zero is selected in the "Setting Range", it means that the trader requires that the order be executed only at the price selected or reported, not at any other price. Traders can choose to accept a larger range of allowable slippages to increase the chances of instructions being executed. In this case, the instruction will execute at the following available price within the specified range. For example, the customer may be instructed to accept a transaction within the range of 2 pips of the requested price. If there is sufficient fluidity, the system will execute the instruction within an acceptable range (ie 2 pips). If the instruction cannot be executed within the specified range, the instruction will not be executed. Please note that the setting range can only specify a negative range. If a more favorable price occurs during the execution of the transaction, the positive price improvement amount 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 a marketable price. Stop Loss guarantees the execution of the trade, but does not guarantee that it can be executed at a specific price. Therefore, depending on the market conditions, the stop loss order may have slippage.

Additional deposit and strong flat

A margin call alert will be triggered when your available margin falls to zero. Your account trading bar will be displayed in red and blinking, which will occur when your floating loss reduces your account equity by at least or equal to your margin requirement. Therefore, unless otherwise noted, the consequences of any margin call will be a subsequent mandatory system liquidation.

The concept of margin trading is that the client's margin is used as the actual deposit for the face value of the position in which the position is held. Clients who conduct margin trading can hold positions that are significantly higher than the actual amount of funds. The CHIFLEY trading platform has margin management capabilities that allow leverage. Of course, margin trading involves risk because leverage can have a positive or negative impact on you. If the account equity falls below the margin requirement, the CHIFLEY trading platform will trigger an order to close all open positions. If excessive leverage or trading losses result in insufficient net worth to maintain the opening position at the time, additional margin will be incurred 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 a red alert. When your account margin ratio (prepayment) is below the 60% warning line, the system will close the current position from the most loss-making position. When the margin (prepayment) ratio is equal to or lower than 50%, the system will trigger a forced liquidation of all open positions, and the automatic settlement procedure is designed to be fully automated.

Although the margin call function is designed to close the position when the account equity falls below the margin requirement, in some cases there is no liquidity at the actual margin call. Therefore, the net value of the account may fall below the margin requirement when the order is executed, and even the account net value becomes negative. This is especially true when exchange rates are empty or in extreme fluctuations. CHIFLEY suggests that traders use stop loss instead of margin call to limit the downside risk.

We strongly recommend that customers maintain an appropriate margin amount in their account at all times. You can go to the User Center and apply to adjust the margin leverage to change your margin requirements, which will be approved via CHIFLEY. CHIFLEY may change the margin requirements as appropriate, depending on the size of the account, the opening position at the same time, the trading model, and the market conditions.