A currency exchange rate is typically given the Bid Price/ Ask Price. The Ask Price (or Buy Price) is the price at which clients can buy an instrument. The Bid Price (or Sell Price) is the price at which clients can sell an instrument. The Bid Price is always lower than the Ask Price.

Commission is another potential cost that clients should consider. A fixed amount of commission will be charged to your account upon execution of any order for some instruments on our platform.

BACERA CO PTY LTD offers variable and competitive spreads and commissions. To view BACERA CO PTY LTD Spreads and Commissions, click Instruments below.

CFD trading using margin allows you to open a position by only depositing a percentage of the full value of the position. Margin is used to cover any credit risks that arise during your trading.

Please beware that profits and losses are relative to the full value of your position. This means that you could lose more than what you deposit for margin.

Margin Requirements (and the associated Margin Percentage) vary with each Product within the leverage restrictions imposed under the Product Intervention Instrument, and a list of the requirements is set out on the Trading Platform. These may change regularly.

At BACERA CO PTY LTD , the margin requirement (per lot) is either represented as a ratio or percentage.

For example, you decide to buy €100,000 because you think the price of EUR/USD will go up. EUR/USD has a margin rate of 30:1, which means you have to deposit 3.33% of the total position value as initial margin. Therefore, in this example your initial margin will be $3,946.32 (3.33% x [€100,000 x 1.18508]). The platform will automatically convert the initial margin amount into your account currency at the prevailing BACERA CO PTY LTD conversion rate.

In this Share CFD example, AAPL is trading at a sell/buy price of 122.52/122.67. Assume you want to buy 100 Shares (1 CFD = 100 shares) because you think the price will go up. AAPL has a margin rate of 5:1, which means that you have to deposit 20% of the position’s value as initial margin. The platform will automatically convert the initial margin amount into your account currency at the prevailing BACERA CO PTY LTD conversion rate.

Leverage is another expression of margin percentage.

Leverage = 1 / Margin Percentage

For example, the margin requirement for #AAPL is 20%. It means that Leverage for #AAPL is 5:1.

At BACERA CO PTY LTD , clients can trade with the following leverage:

• 30:1 for CFDs referencing an exchange rate for a major currency pair
• 20:1 for CFDs referencing an exchange rate for a minor currency pair, gold or a major stock market index
• 10:1 for CFDs referencing a commodity (other than gold) or a minor stock market index
• 5:1 for CFDs referencing shares or other assets

Hedging is taking on both Long and Short positions of the same size in the same product simultaneously in order to reduce the risk in an adverse market. This involves opening a position in the opposite direction of the same size as the initial opened position. The margin requirement for holding hedged positions is 0.

The trading platform will automatically begin to liquidate open orders when the client's Total Equity balance falls below 50% of the Initial Margin Requirement. The trading platform will liquidate individual positions until the remaining Client Total Equity is sufficient to support existing open position(s). In deciding what positions will be individually liquidated the largest losing position will be closed first during liquidation.

Similarly, the margin in your trading account needs to be more than 50% for open positions in order to be able to open new trades, unless the new trades will result in current positions being partially or fully hedged.

BACERA CO PTY LTD provides different margin and leverage for different instruments. To view BACERA CO PTY LTD Margin Requirement, click on the Instruments below.

It is strongly advised that clients always maintain the appropriate amount of margin in their accounts.

The Swap is the interest paid or earned for holding a position overnight. Each CFD has an interest rate associated with it, and every trade involves two different interest rates. The Swap can add a significant extra cost or profit to your trade. The trading platform automatically calculates Swaps for you.

22:00 GMT(+1) is considered to be the beginning and the end of a trading day. Any positions which are still open at 22:00 GMT(+1) are subject to rollover. Rollover is the process of the settlement of an open position overnight.

There is no settlement on Saturdays and Sundays when the markets are closed, but banks still calculate interest on any position held over the weekend. For this reason, a 3-day swap applies on Wednesdays or Fridays.

BACERA CO PTY LTD offers a transparent Swap Rate based on current interest rate. To view BACERA CO PTY LTD Swap Rates, please log in to your ST5 account.

Instruments are only tradable during their open trading hours. Click on the Instruments below to see their respective trading hours. Please note that BACERA CO PTY LTD server time and charts are set to GMT + 0.

Trading hours may vary due to shifts in Standard Time and Daylight Saving Time in different time zones.

Also, please note that trading is closed on our trading platform when world financial markets are closed due to holidays. We aim to inform our clients as soon as possible of upcoming changes in trading hours. Please check our notifications for up-to-date information.

When there is a price gap during volatile market conditions, pending orders may be cancelled if the current market price reaches the designated order price but the trading account has insufficient margin to open a new position.

All Stop orders (pending) will be automatically cancelled after market close on Friday or early market closures on holidays. If necessary, clients can place a new pending order after the market reopens.

Note: Exclude Stop Loss and Take Profit of existing positions.

Upon the market re-opening on Monday or after a Holiday, the price may have gapped. Take Profit Orders/Stop Loss Orders are not guaranteed to be executed at the prices set by the clients. They will be honored at the executable price after the market opens.

The trading platform will automatically begin to liquidate open orders when the client's Total Equity balance falls below 50% of the Initial Margin Requirement. The trading platform will liquidate individual positions until the remaining Client Total Equity is sufficient to support existing open position(s). In deciding what positions will be individually liquidated the largest losing position will be closed first during liquidation.

Similarly, the margin in your trading account needs to be more than 50% for open positions in order to be able to open new trades, unless the new trades will result in current positions being partially or fully hedged.

To ensure quality service, when a Client's local internet, personal computer, or electronic trading platform fail to function properly, telephone transactions can be placed. Client account numbers and phone passwords are needed to perform telephone transactions. Phone passwords are provided for trading accounts upon opening.

Note: Telephone transactions are for trading purposes only. No financial advice will be provided.

Daily and monthly statements may be printed from the trading platform for reference. It is very important to check the content of the reports in detail and notify BACERA CO PTY LTD within 2 business days if there are any errors and/or discrepancies on the report. After 2 business days, any corrections and/or adjustments to any errors or discrepancies will be made solely at the discretion of BACERA CO PTY LTD .

Clients can have up to 200 trades open or pending at any one point in time for live accounts. Demo accounts are capped at 50 trades open or pending at any one time.

Our demo account aims to mimic a live account and allows you to test our platforms and trading conditions, but due to execution differences, the exact same trade outcomes may not occur at all times. The difference is that you can have up to 200 live account trades open or pending at any one point in time, whereas demo accounts are limited to 50 trades at any one time.

BACERA CO PTY LTD reserves the right to make any changes to the trading rules. Changes in Margin Requirements will be announced on BACERA CO PTY LTD ’s website and will take effect immediately.

As a wholesale client (BACERA CO PTY LTD Pro) you will have access to higher leverage and other incentives not available to retail clients. However, you will lose some retail client protections such as negative balance protection and some AFCA protections may not apply to you. Risks and other important information are detailed in the Wholesale Client Disclosure Notice.

If you have any further questions regarding the Wholesale accounts, please contact us via online chat or email us at [email protected].

There are two ways to qualify to become a BACERA CO PTY LTD Pro:

If you believe you are eligible to become a BACERA CO PTY LTD Pro:

1. Log into the BACERA CO PTY LTD Client Portal.
2. Select “Become a BACERA CO PTY LTD Pro” from the Settings menu next to your account number (The “Gear” icon).
3. We will require that you provide evidence of your trading experience, relevant work experience, relevant qualifications, or proof of eligibility as certified by your chartered accountant.
4. BACERA CO PTY LTD will notify you if your account has been upgraded to BACERA CO PTY LTD Pro status.