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Limitations on News Trading: Freeze Time
Please note! The limitations that apply to news trading in Standard and Micro accounts.
During a specific period of time (Freeze Time) before an economic event announcement (news) Pending Buy and Sell Stop orders are cannot be placed, closed, deleted or modified. These limitations apply to a single Buy/Sell Stop Pending order, as well as to opposite Buy/Sell Stop Pending Orders. By opposite (or 'Corresponding') stop orders we mean two stop orders (a Buy Stop and a Sell Stop) placed on the same currency pair, at the same time.
If you try to place, modify or close a Buy/Sell Stop Pending Order during the Freeze Time, you will see the following error message in your MetaTrader 4.
On the average, the Freeze Time period begins several tens of seconds before a news announcement, but its exact duration may vary depending on the nature and importance of the economic event.
According to the Explanations of Definitions and Terms of Business (Terms and Conditons) for Market Maker (Standard and Micro) Accounts:
Freeze Time - the period of time before the Event announcement. The Company has the right, at its sole discretion, to define the value of the Freeze Time depending on the situation, on the currencies market, and on the character of the Event.
Corresponding Pending Orders - two counter instructions from the Customer to the Company (i) to open positions in relation to the same Currency Pair at the same time, using Buy Stop and Sell Stop Pending Orders.
For more information, please, see section 3.5 of the Terms of Business (Terms and Conditions) for Market Maker (Standard and Micro) Accounts 3.5. The Company refuses opening, modification and deletion of all Pending Orders including Corresponding Pending Orders during the Freeze Time.
Please note! These limitations are not applied to ECN accounts.
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