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How are news trading and weekend holding soft breaches in Pro accounts, and how will the breach be executed by the system in these cases?
News Trading and its Execution of Breach:
News trading is normally allowed in the Challenge Phase. However, in the Hola Prime accounts, traders can hold trades at any time but are not allowed to execute (open or close) any trade on the instruments affected by high-impact news during the window of 5 minutes before to 5 minutes after the release of such news. Please note that the execution of trade includes market execution as well as pending orders, including Stop Loss and Take Profit orders.
If trades for any of the affected instruments are opened/closed during the 5 minutes before and after the news release window, all trades will be closed by the system, and trading will be disabled. Traders can later contact us to get the account re-enabled and continue trading.
Weekend Holding and its Execution of Breach:
Holding trades over the weekends is normally allowed in the Challenge Phase. However, for Hola Prime accounts, weekend holding is considered a soft breach, and any trade remaining open at 15:45 EST on Friday will be automatically closed by the system. The account will be disabled, and you can get the accounts re-enabled to continue trading Monday onwards.
31) How are news trading and weekend holding soft breaches in Hola Prime accounts issued under the Direct Model, and how will the breach be executed by the system in these cases?
News Trading and its Execution of Breach:
In the Hola Prime account issued under the Direct model, traders can hold trades at any time but are not allowed to execute (open or close) any trade on the instruments affected by high-impact news during the window of 5 minutes before to 5 minutes after the release of such news.
Please note that the execution of trade includes market execution as well as pending orders, including Stop Loss and Take Profit orders. If your Stop Loss or Take Profit is activated during this window of 5 minutes before and 5 minutes after, it will be taken as a violation of the Hola Prime Agreement. Breach of this rule will lead to account closure.
Weekend Holding and its Execution of Breach:
Holding trades over the weekends is not allowed and is considered a hard breach in the Hola Prime Account issued under this model. Ensure all trades are closed before 15:45 EST Friday. on Friday, or they will be automatically closed by the system, and the account will be terminated.