Dear Clients,
The recent volatility in the Crude Oil market significantly increases the risk for traders. The benchmark U.S. oil futures contract for May 2020 tumbled to an unprecedented negative price on April 20, 2020. In order to protect our clients’ interests and avoid risks caused by market volatility, ATFX will implement the following Crude Oil Trading Policy, effective April 27, 2020 (Monday).
- In the event that Crude Oil price reaches USD 5 or below, clients can only close existing open positions. The opening of new positions or limit orders will be prohibited. If there are limit and stop orders placed below USD 5, the system will automatically cancel those limit and stop orders.
- In the event that the Crude Oil price reaches USD 0 or negative price, the system will stop the quotes and trading. Meanwhile, ATFX will close all open positions at the last and available market price on the trading platform.
We are following the development of the Crude Oil market closely. We would advise clients to consider the risks of trading during extreme market volatility and ensure they have a full understanding of risk management.
Please feel free to contact us via email: cs.gm@atfx.com or call: 400-1200-143 if you have any questions.
Sincerely,
ATFX
