Terms of Business

1.1 These Terms of Business set out how trading works on an OGOFX account: the instruments you can trade, how prices are formed, how orders are executed, what each trade costs, and how margin, margin call and stop out are applied.

1.2 When you register in the client portal you accept the Client Agreement, the Terms of Business and the Regulations for Non-Trading Operations, and you confirm that you have read the Risk Disclosure, the Privacy Policy and the Cookie Policy. Read these Terms of Business with the Client Agreement, the Regulations for Non-Trading Operations and the Risk Disclosure.

1.3 Many figures in these terms, such as minimum deposits, commission, leverage and volume limits, are set on the OGOFX platform. The figures shown on this page are read from the platform when the page is published. The figures in force when you place an order are those shown in the OGOFX web terminal and client portal at that moment.

1.4 OGOFX operates under local licence no. 8256953 and is licensed on the OGO platform.

2.1 In these terms:

• Account means a Standard, Raw or Pro trading account opened in your name through the client portal. Every account is held in US dollars.
• Ask means the higher of the two prices quoted for an instrument, at which you buy. Bid means the lower price, at which you sell.
• CFD means a contract for difference: a contract whose value follows the price of an underlying currency pair, metal, index or energy product. You do not own the underlying asset.
• Contract size means the quantity of the underlying represented by one lot of an instrument, as shown in the contract specifications.
• Equity means your balance plus or minus the floating profit or loss of your open positions, including accrued swap.
• Free margin means equity less used margin.
• Liquidity provider means the third party whose prices OGOFX quotes and to which your orders are routed for execution.
• Lot means the unit of volume in which orders are placed.
• Margin (or used margin) means the part of your equity set aside to hold your open positions.
• Margin level means equity divided by used margin, expressed as a percentage.
• Pip means the standard unit of price movement of a currency pair; a point is the smallest price increment an instrument is quoted in.
• Rollover means the daily moment, at broker midnight, at which swap is applied to positions held open.
• Broker server time (or server time) means the time of the OGOFX trading servers, in which trading hours, rollover and the trading history are expressed: UTC+3 at the time of publishing; it moves by an hour with daylight saving.
• Spread means the difference between the ask and the bid.
• Swap means the overnight financing amount charged or paid on a position held through the rollover.
• Wallet means the balance in your client portal that is not in a trading account.

3.1 OGOFX offers three trading account types: Standard, Raw and Pro. All three trade the same instruments in the same web terminal, are held in US dollars and use the same execution. They differ in how you pay to trade, in the minimum first deposit and in the maximum leverage. Margin call and stop out work as set out in section 12.

3.2 You may hold up to 3 trading accounts. You choose the account type and the leverage when you open each account, from 1:1 up to the maximum for that account type.

3.3 Only verified clients can deposit or withdraw. Deposits and withdrawals are made only in USDT on BNB Smart Chain (BEP20). Each trading account has its own BEP20 USDT deposit address, and a deposit is credited after the network confirms it (a deposit above $50 after a check by the OGOFX team), one to one in US dollars. You also have a wallet in the client portal and can move money between the wallet and your trading accounts. A withdrawal is made from the wallet or from a trading account’s free margin, and is reviewed and sent by the OGOFX team to your own BEP20 address. The terms for moving money are in the Regulations for Non-Trading Operations.

3.4 OGOFX does not open accounts for residents of the United States.

4.1 OGOFX offers 51 CFDs in four classes:

• Forex: 32 currency pairs.
• Metals: 5 metals quoted against the US dollar or the euro.
• Indices: 11 stock index CFDs.
• Energy: 3 energy CFDs.

4.2 Every instrument is a cash-settled CFD. No position gives you ownership of, or a right to delivery of, any currency, metal, share, index or commodity.

4.3 For each instrument the contract specifications set out the contract size, the number of digits quoted, the minimum volume and volume step, the margin and profit currencies, the swap rates and the triple-swap day. Contract specifications are part of these terms.

4.4 OGOFX may add or withdraw an instrument, or change its specifications, where the liquidity provider or the underlying market requires it. Where an instrument is withdrawn, OGOFX will tell affected clients and may restrict the instrument to closing positions only before it is removed.

5.1 OGOFX quotes a two-way price, a bid and an ask, for each instrument. The prices are based on the prices received from the liquidity provider and are updated as the market moves.

5.2 How the price you see is formed depends on your account type:

• Standard. No commission; its markup is in the spread ($1 a lot on currency pairs, 50% of the spread on metals, indices and energy).
• Raw and Pro. The liquidity provider’s raw spread plus commission per lot, charged once when the position opens, as set out in section 7.

5.3 You buy at the ask and sell at the bid. A buy position is closed at the bid and a sell position is closed at the ask.

5.4 Prices shown on the OGOFX website and in marketing are indicative. The price that applies to an order is the price at which it is executed on the platform.

5.5 Profit and loss on an instrument arise in its profit currency and are converted into US dollars, the account currency, at the platform's current exchange rate.

6.1 Spreads are variable. They follow the prices received from the liquidity provider and change throughout the day.

6.2 Spreads are usually wider, and can be much wider than the minimum, at the opening and close of a market, at the daily rollover, around economic releases and central bank decisions, during holidays, and whenever liquidity in the underlying market is thin.

6.3 The “spread from” figures published by OGOFX are the lowest EURUSD spread each account type can show, not typical spreads, and are not a guarantee of the spread at any given moment. The current spread of every instrument on each account type is shown on the fees page and in the web terminal, and it moves with the market.

6.4 You pay the spread when you open a position, because a new position is valued at once at the price at which it can be closed.

7.1 Standard accounts pay no commission. Raw accounts pay $7 per lot and Pro accounts pay $5 per lot.

7.2 Commission is charged once, when the position is opened, and covers both opening and closing the position. No further commission is charged when the position is closed.

7.3 Commission is charged in proportion to volume: an order for a fraction of a lot is charged the same fraction of the per-lot commission.

7.4 Commission is debited from the account balance in US dollars when the position opens.

8.1 A position that is still open at the broker’s daily rollover, at broker midnight in broker server time, is charged or paid swap. Positions opened and closed on the same trading day carry no swap.

8.2 Swap reflects the cost of financing the position overnight, which depends on the interest rates or financing costs of the underlying. It can be negative, a charge, or positive, a credit. Long and short positions on the same instrument have different swap rates, and on some instruments both are negative.

8.3 Swap rates are the liquidity provider’s rates with OGOFX’s markup of 50%: a charged swap is made larger by this share, and a paid swap smaller. The rates are the same on every account type. The contract specifications and the fees page show them, long and short, in US dollars per lot per night. They change when underlying rates change, and the rates that apply are those in force at the rollover.

8.4 Swap is calculated by the method set for each instrument and is multiplied by the volume of the position.

8.5 On one night of the week, the triple-swap day, swap counts three nights. This accounts for the weekend, when markets are closed but financing still runs. Today the triple-swap day is Wednesday on every instrument; the triple-swap day of each instrument is shown in the contract specifications.

8.6 Swap applies on every account type.

9.1 All accounts use market execution. Your orders are routed to the liquidity provider and executed at the market price available when they reach the liquidity provider, which may differ from the price on your screen when you sent the order.

9.2 The difference between the requested price and the executed price is slippage. Slippage can be in your favour or against you. It is more likely in fast markets, around news, at market opens and with larger orders.

9.3 An order is either executed at the market price available or rejected.

9.4 An order may be rejected where the market is closed, where there is not enough free margin, where the volume is outside the limits in section 10, where the instrument is restricted to closing only, or where the liquidity provider cannot fill it.

9.5 An order is final once it has been executed. You are responsible for the orders sent from your account, including orders sent with one-click trading.

10.1 The web terminal offers these orders:

10.2 Buy pending orders, and the stop loss and take profit of sell positions, are triggered by the ask. Sell pending orders, and the stop loss and take profit of buy positions, are triggered by the bid.

10.3 When a pending order, stop loss or take profit is triggered it is executed as a market order at the next available price. If the market moves past the level in a single step, for example when it opens with a gap, the order is executed at the first available price, which can be worse than the level you set. A stop loss limits a loss only to the extent the market allows; it is not guaranteed.

10.4 One-click trading, when you turn it on, sends a market order with one click and without a confirmation step. A partial close closes part of the volume of an open position and leaves the rest open.

10.5 Volume limits:

• Minimum order: 0.01 lot, in steps of 0.01 lot, unless the contract specifications of an instrument set a larger minimum or step.
• Largest order: a trading account can hold up to 2 lots open in one instrument, so the largest order is 2 lots. The cap applies to each instrument on each account, not to the account’s total open volume. The platform’s per-order limit of 10 lots is higher than this cap, so the cap is the limit that binds.

10.6 An order that would take you outside these limits is rejected.

11.1 Leverage lets you hold a position larger than the margin set aside for it. You choose the leverage of an account when you open it, from 1:1 up to 1:500 on Standard, 1:500 on Raw and 1:200 on Pro.

11.2 The margin to open a position is the value of the position divided by the leverage of the account. For a currency pair, the value is the volume in lots multiplied by the contract size, in the base currency. For other instruments, it is the volume multiplied by the contract size and the current price, in the margin currency. The result is converted into US dollars.

11.3 For example, at a leverage of 1:100, a position worth 100,000 units of its margin currency needs 1,000 units of that currency as margin.

11.4 You need enough free margin to open a position. Margin is released when the position is closed. The margin calculator on the leverage and margin page shows the margin for any instrument at current prices.

11.5 Higher leverage magnifies losses as well as gains. A small move against a highly leveraged position can use up your equity quickly.

12.1 Your margin level is your equity divided by your used margin, multiplied by 100. The web terminal shows it at all times while you have open positions. The margin call and stop-out levels of each account type are shown in section 3.

12.2 Margin call. When the margin level falls to 100% or below, the account is in margin call. A new position needs free margin. At a margin level of 100% or below there is none, because equity no longer exceeds used margin. OGOFX is not required to contact you before or at a margin call. Watching your margin level is your responsibility.

12.3 Stop out. When the margin level falls to 50% or below, the platform closes open positions at the market price until the margin level is back above the stop-out level or no positions remain. Stop out runs automatically and does not wait for any action from you or from OGOFX.

12.4 In fast or gapping markets, the margin level may already be well below the stop-out level when positions are closed, and the closing prices may be worse than the prices at which the stop out was triggered.

13.1 If a stop out or a gap leaves your account with a loss deeper than its balance, a loss deeper than the balance is written off; the balance stops at zero. You do not owe OGOFX the difference.

14.1 Each instrument can be traded only during its trading sessions. The sessions are set per instrument, in broker server time (UTC+3 at the time of publishing; it moves by an hour with daylight saving), and are shown on the trading hours page and in the web terminal.

14.2 Markets are closed at the weekend. Most instruments also close each day around the rollover, some for longer than others, and a few index CFDs also pause during the day, following the hours of their underlying exchange.

14.3 Outside its trading session an instrument shows its last price, and pending orders, stop losses and take profits are not triggered until the session reopens.

14.4 Trading hours can change for public holidays, for changes in the hours of the underlying market, and when clocks change for daylight saving time. The sessions in force are those shown on the trading hours page and in the web terminal.

14.5 Positions held over the weekend or over a market closure remain open and remain exposed to the price at which the market reopens.

15.1 A market disruption exists where trading in an underlying market is suspended, limited or closed; where the liquidity provider stops or limits its prices; where prices move so fast, or liquidity is so thin, that orders cannot be filled normally; or where an event outside OGOFX's reasonable control, such as a failure of a market, a communications network or a power supply, prevents normal trading.

15.2 During a market disruption spreads can widen sharply, following the prices received from the liquidity provider, and OGOFX may, acting reasonably and only for as long as the disruption lasts:

• restrict an instrument to closing positions only; or
• suspend trading in an instrument.

15.3 OGOFX will tell affected clients what it has done as soon as it reasonably can.

16.1 A price, a quote or a trade can be affected by an error, for example a price far from the market price of the underlying or a price received in error from the liquidity provider.

16.2 You must tell OGOFX promptly at support@ogofx.com if you become aware of an error that affects your account, with the account number, the order or position number and the time of the event in broker server time.

16.3 OGOFX looks into it using the platform’s records of prices, orders and executions (section 20.3) and tells you what it finds. If you disagree, you may raise it as a complaint under section 18 of the Client Agreement.

17.1 Index CFDs follow the value of an underlying stock index. Events affecting the shares in an index, such as dividends, changes of constituents or other corporate actions, can move the index.

17.2 Where an underlying index is discontinued or its calculation is materially changed, OGOFX may restrict the index CFD to closing positions only, and will tell affected clients in advance where it can.

18.1 The charges on trading are:

18.2 OGOFX does not charge a fee for deposits; the BNB Smart Chain network fee for sending a deposit is paid by the sender. The withdrawal fee is 1 USDT for each withdrawal, and the minimum withdrawal is 10 USDT, as set out in the Regulations for Non-Trading Operations and on the deposits and withdrawals page.

19.1 OGOFX earns its revenue from the trading of its clients, through the markup in the spread on Standard accounts, through commission on Raw and Pro accounts, and through the mark-up included in swap rates on every account. This means OGOFX earns more when clients trade more and hold positions longer.

19.2 To manage this, OGOFX:

• publishes its account terms and commissions, and shows the current spread and swap rates of every instrument on the fees page (spreads move with the market, and swap is charged or paid later, at the rollover);
• routes every order to the liquidity provider for execution at the market price, under the same rules for every client on the same account type;
• applies margin call, stop out and negative balance write-off automatically, by the same rules for every account.

19.3 You can ask OGOFX for more information about how conflicts of interest are handled by writing to support@ogofx.com.

20.1 OGOFX may change the Client Agreement and the Terms of Business. A change is made by publishing a new version of the document on its page on ogofx.com with a new effective date, and it takes effect on that date. Figures that the platform holds, including spreads, swap rates, commission, markups, leverage limits, margin call and stop-out levels, lot limits, minimum deposits, the instruments offered and their trading hours, can change at any time; the figures that apply to an order or a request are those shown in the web terminal and the client portal at that moment. If you do not accept a change, you may close your trading accounts and end the Client Agreement under section 16.1 of the Client Agreement. If you keep using your account after a change takes effect, you accept it.

20.2 Questions about these terms can be sent to support@ogofx.com. Support is available 24 hours a day, Monday to Friday. Complaints, including complaints about a trade, follow section 18 of the Client Agreement: email support@ogofx.com with the word “Complaint” in the subject line, and give your registered email address, the account number, what happened and the outcome you want. For a trade, include the order or position number and the time of the event in broker server time. OGOFX gives its answer in writing by email.

20.3 OGOFX keeps the trading history of every account. The platform’s records of prices, orders and executions are used to look into any question about a trade.