Taifook Securities Group Limited
Securities Futures Forex & Bullion Research eServices Customer Services About Us
Welcome to www.taifook.com Home 繁體版 簡體版 日本語

Products & Services  |  Trading Particulars  |  Funds Deposit & Withdrawal  |  FAQ

Online Bullion Trading


  1. What is Bullion Trading?
  2. Is the quotation service displayed at the Online Bullion Trading Platform the indicative price only?
  3. Can I choose a particular trade to set-off with another at Online Bullion Trading Platform?
  4. Is there any trading limit for Online Bullion Trading account?
  5. What can I do if I would like to increase my exposure limit?
  6. What is the trading hour for Bullion Trading?
  7. What is the system requirement for running the Online Bullion Trading Services?
  8. What are Available Balance, Equity, Floating P/L, and Maintenance Margin?
  9. What is Call Margin?
  10. If the account's Equity falls below the Maintenance margin level, will the account's position be forced to liquidate?
  11. Is there any installation and usage of freeware or shareware that may affect the performance of Online Bullion Trading Platform?
  12. In what situation that orders will be rejected with the error message of "Insufficient Fund" or “Insufficient Exposure Limit”?
  13. What are the meanings of different order status?
  14. When do I need manual quote?
  15. Is there any limitation on the order price?
  16. Is there any limitation for the quantity of a conditional order?
  17. I cannot place conditional order regardless of sufficient available balance/position.
  18. Can I partially close my positions?
  19. How can I know whether my order is rejected?
  20. Why my stop/limit orders in “Open Position” are cancelled automatically?
  21. Why does the order status keep as “Sending”
  22. What is the Day-End Process for Online Bullion Trading?
  23. Is there any Position Lock function provided by Online Bullion Trading Platform? Does Locking Position require an additional initial margin?
  24. Why I cannot enter the main page of the trading services?
  25. After received the login password, how can I protect my account information?
  26. Trading Example 1:
  27. Trading Example 2:
  28. If I have encountered problem in using Online Bullion Trading, what should I do?
  29. Why the executed trades and orders placed through my Account Executive by phone do not reflect on the Online Bullion Trading Service?
  1. What is Bullion Trading?

    Bullion Trading is provided by Taifook Bullion Limited. Our bullion trading service includes Loco-London Gold and Loco-London Silver. Investors can profit from price volatility and interest differentials through trading, arbitraging and hedging with the use of our bullion price quotation at     www.taifook.com

    [Back to top]

  2. Is the quotation service displayed at the Online Bullion Trading Platform the indicative price only?

    Yes. The price displayed on the top of the trading platform is indicative only. If you wish to trade any bullion product with a market order with quantity less than 10, you can directly take reference from the “Quote Table”. If you want to place a market order with quantity more than 10, you have to make a quote by pressing on the “Quote” button of in the order ticket. Dealer will then response you an executable price. System settings are subject to without prior notice.

    [Back to top]

  3. Can I choose a particular trade to set-off with another at Online Bullion Trading Platform?

    Yes, you can choose a particular trade to set-off with another in the session "Open Position". If you place order through the quote table, it will be treated as a new order.

    [Back to top]

  4. Is there any trading limit for Online Bullion Trading account?

    Yes. To prevent clients from disclosing to exorbitant investment risk, there is an exposure limit for every account. Generally, the exposure limit for Online Bullion trading is HKD300,000. If you would like to increase your exposure limit, please kindly contact your Account Executive.

    [Back to top]

  5. What can I do if I would like to increase my exposure limit?

    Please kindly contact your Account Executive for increasing the account exposure limit.

    [Back to top]

  6. 6. What is the trading hour for Bullion Trading?

    Please refer to     "Trading Particular".

    [Back to top]

  7. What is the system requirement for running the Online Bullion Trading Services?

    Minimum system requirement:
    Microsoft Windows 2000/XP
    Internet Explorer 6.0 or above
    PIII 800 Mhz or above
    Memory 128MB or above
    Resolution 1024 x 768

    [Back to top]

  8. What are Available Balance, Equity, Floating P/L, and Maintenance Margin?

    Available Balance is the amount available for trading. It is calculated by the following equation:

    Available Balance: Equity of the account excluding Maintenance Margin, Clearing Fund Balance and Hold Balance
    Equity: Sum of Balance Carried Forward, Floating P/L, Pending P/L, Pending Interest and Other Pending Items
    Floating P/L: The Profit or Loss of open positions in the account calculated by the current reference price of the market
    Maintenance Margin Requirement: 80% of Initial Margin Requirement

    For further information, please refer to daily/monthly statement(s) or contact your Account Executive

    [Back to top]

  9. What is Call Margin?

    Margin Call is the amount that you should deposit to the account immediately to cover your position. Call Margin will be zero if Equity is larger than Maintenance Margin Requirement.

    [Back to top]

  10. If the account's Equity falls below the Maintenance margin level, will the account's position be forced to liquidate?

    In the event that Equity in the account falls below 80% of the margin requirement of his position, Taifook Bullion will have the sole right to liquidate the client's position without prior notice to cover the deficit. Please kindly pay attention to the account fund status and always maintain the account balance to maintenance margin level.

    [Back to top]

  11. Is there any installation and usage of freeware or shareware that may affect the performance of Online Bullion Trading Platform?

    There may be some freeware or shareware that affect the running of the Online Bullion Trading Platform (e.g. the searching software of 3721.com). If you find any problem with the Online Bullion trading system after installation of other freeware or shareware, please kindly uninstall it to keep the trading system running smoothly.

    [Back to top]

  12. In what situation that orders will be rejected with the error message of "Insufficient Fund" or “Insufficient Exposure Limit”?

    If the required trading amount exceeds the “Available Balance” or “Exposure Limit”, your instruction will be rejected even if the order price is reached.
    If you would like to increase your exposure limit, please kindly contact your Account Executive.

    [Back to top]

  13. What are the meanings of different order status?

    Sending: The order is sending to the market
    Placed: The order is sent to the market
    Completed: The order is executed
    Pending: The order is waiting to be sent to the market
    Cancelled: The order becomes invalid
    Expired: The order becomes invalid as it is not executed in a preset period of time
    Rejected: The order is refused to be sent

    [Back to top]

  14. When do I need manual quote?

    Under normal condition, when the quantity in an order is more than 10, you have to make a quote by pressing on the “Quote” button of in the order ticket. Dealer will then response you an executable price. The quoted price will become invalid after 10 second. You have to press on the “Quote” button once again for another valid quote. Under volatile market condition, it is possible that manual quote is needed for each order regardless the quantity. System settings are subject to without prior notice. If you want to change the threshold for manual quote, please contact your account executive.

    [Back to top]

  15. Is there any limitation on the order price?

    Apart from market order, limitation on the order price will be applied for other order type.

     London Loco Gold
    (1 pip = 1 cent)    		 London Loco Silver
    (1pip = 0.01 cent)
    Minimum difference between Conditional order price and market price300 pips = 3 dollars1000 pips = 0.1 dollar
    Maximum difference between Conditional order price and market price20,000 pips = 200 dollars50,000 pips = 5 dollars
    For example, market price of London Loco Gold is 965.50/967.00. If we want to place a limit sell order, the order price has to be within USD970.00 (USD967.00 plus minimum difference USD 3) and USD 1,167.00 (USD 967.00 plus maximum difference USD 200).
    If we want to place a If…then sell order, the price of the first “If” order is the same as above, which is within USD970.00 and USD 1,167.00. Supposedly we set the order price to be USD 980.00, the reference of minimum and maximum difference the second “then” order is taken from the first “If” order, which is within USD 983.00 (USD 980.00 plus minimum difference USD 3) and USD 1,180.00 (USD 980.00 plus maximum difference USD 200).

    System settings are subject to without prior notice.

    [Back to top]

  16. Is there any limitation for the quantity of a conditional order?

    Yes. Generally, limitation for quantity of a single conditional order is 500. If you want to place a conditional order exceeding the quantity limitation, please contact your account executive to place the order, or to change the limitation. System settings are subject to without prior notice.

    [Back to top]

  17. I cannot place conditional order regardless of sufficient available balance/position.

    Conditional order would be rejected if there are total 100 conditional orders have been placed in the market. If you want to place a conditional order exceeding the limitation, please contact your account executive to place the order, or to change the limitation. System settings are subject to without prior notice.

    [Back to top]

  18. Can I partially close my positions?

    Partially closing position is available by choosing designated quantity of particular position in the “Open Position” session.
    Please be noted that the quantity of limit order and stop order in an OCO order have to be the same. If there is any discrepancy, the latter one shall prevail.

    [Back to top]

  19. How can I know whether my order is rejected?

    If a placed order is rejected by the system, the order status will be “Rejected”
    If an order is rejected before sending to the market, including, without limitation, input error, violating rules, exceeding limitation. The rejected reason will not appear in the order status but in the activity log at the bottom.
    Please be noted that the activity log will be cleared after re-login, refresh, or switching language.

    [Back to top]

  20. Why my stop/limit orders in “Open Position” are cancelled automatically?

    The stop/limit orders will be cancelled automatically if, you have insufficient fund/exposure limit; or you have closed the position with a market order.

    [Back to top]

  21. Why does the order status keep as “Sending”

    The order status may keep as “Sending” if you have a slow-speed bandwidth or; the system is not functioning. If you encounter this problem, please contact your account executive for order status enquiry in order to avoid dispute and consequential loss.

    [Back to top]

  22. What is the Day-End Process for Online Bullion Trading?

    During New York Summer Time: Monday - Thursday: 02:30 ~ 04:00; Friday: 01:30 ~ 03:00
    During New York Winter Time: Monday - Thursday: 03:30 ~ 05:00; Friday: 02:30 ~ 04:00
    Online Bullion Trading will be suspended during day-end process. Please contact 24-hour Investment Centre at (852) 2213 8877 price quoting and placing orders.
  23. Is there any Position Lock function provided by Online Bullion Trading Platform?

    Effective from 28 Sep 2009, lock/opposite position function for Bullion products will not be available for all channels.
    For offline lock/opposite instruction(s), dealing room will execute those order(s) as close order(s) and the older position(s) will be squared off accordingly (i.e. first in first out). Any extra opposite position(s) executed on top of the squared position(s) will be executed as new order with full margin counted.
  24. Why I cannot enter the main page of the trading services?

    If you cannot reach the Online Bullion Trading Platform after login with correct account number and password, the problem may be caused by program with Pop-up Killer function. E.g. MSN Toolbar. In order to let the browser display our main page of trading services right after successful login, please kindly switch off the Pop-up Killer function in your PC and try to login again.
  25. After received the login password, how can I protect my account information?

    We suggest that you to take the following procedures in order to maintain high security standards:
    1. Change your login password in your first time login
    2. Change your login password periodically
    3. Never discuss your password with anyone else
    4. Create a password that is easy to remember but hard for anyone else to guess. Don't use repetitive numbers, birth dates, telephone numbers, or I.D. card numbers as your password.
  26. Trading Example 1:

    On day 1, customer buys 1 contract (100oz) of LLG at 540.50
    On day 2, customer sells 1 contract (100oz) of LLG at 542.50

    The profit gained is:
    (542.50 - 540.50) x 100 x 1 =USD 200
    Suppose the interest rate of holding London Gold (LLG) and borrowing USD is 5.25 %. As the client close the position 1 day after the opening, the interest to be paid can be calculated as following:

    1 x 100 x 540.50 x 5.25% / 360 (days) x 1 (day) =USD 7.88

    The total profit from the transaction is: USD 200 - USD 7.88 = USD 192.12.

    As the profit or loss will be settled by HKD, and assume the spot rate of USD/HKD is 7.7600, the total profit in HKD is HKD 1,490.85 (USD192.12 x 7.7600). This amount will be settled in day T+2.
  27. Trading Example 2:

    Customer sells and buys2 contracts of London Gold (LLG) on the same day.

    Selling price: USD 550.00
    Buying price: USD 545.50

    The profit gained is:
    (550.00 - 545.50) x 2 x 100 = USD 900.

    As the open and close positions happened on the same day, there is no interest incurred. Assume the spot rate of USD/HKD is 7.7650, the total profit in HKD is HKD 6,988.50 (USD900 x 7.7650). This amount will be settled in day T+2.
  28. If I have encountered problem in using Online Bullion Trading, what should I do?

    Please kindly contact your Account Executive or 24-hour investment centre (852) 2213 8877 for handling your order first. For technical problem, you may contact our customer service at (852) 3583 3388.
  29. Why the executed trades and orders placed through my Account Executive by phone do not reflect on the Online Bullion Trading Service?

    If you have placed orders through your Account Executives or 24-hour Investment Centre by phone, the executed trades or orders may not be able to reflect at your Online Bullion Trading Account during the whole trading day. In this situation, client should not rely on the information displayed at Online Bullion Trading Services to proceed your trading. For order placing and status enquiry, please directly contact your Account Executive or 24-hour Investment Centre for assistance.

    [Back to top]
 
 
Copyright © 2006 Taifook Securities Group Limited. All Rights Reserved.
Best viewed with Internet Explorer 6.0 or above version only
 


Listed Company General Meeting Notice Board