Broco Partners hook

Broco Created by traders for traders

Brocompany Russia & CIS
India

The phone dealing procedure

  1. The Phone Dealing Service is available for those Clients only having a real trading account. This service can apply in case if the trading platform is not available at that moment. Phone number: +44 203 355 97 72.
  2. Upon the Operator’s request the Client has to provide his trading account number and the server type (for example, "1077, Broco Trader Real")
  3. The Operators asks an authorization question and the Client has to provide a full answer (for example, Q: "Please answer the security question that you set up when opening your account"). The Operator may also ask the security question by himself, if this becomes necessary.
  4. In case if the authorization fails, the Operator should forward the Client to his personal broker in order to restore the phone dealing available for the Client.
  5. After the authorization is successfully completed, the Client may request an information regarding the current balance of his account, current rates, activity report from last 2 working days, and he may also give his order by means of phone dealing.
  6. Opening a position:
    • Client has to name the instrument to open a position
    • After that Operator informs about current rates for that named instrument
    • Client gives the contract size and the direction of transaction (buy or sell)
    • Operator resumes the Client’s order (for example, "BUY USDJPY 1.45 units at 123.32")
    • After Client confirms his order (saying "Yes" or "It’s correct") Operator completes the transaction. At this stage Client’s approval is the direct reason for transaction to be completed, despite further Client’s actions.
    • Operator provides the parameters of the transaction (for example, "The position was successfully opened, ticket number 111111, USDJPY 1.45 units at 123.32" )
    • If Client doesn’t show his desire to continue the conversation, Operator finishes the dialog and says Goodbye to Client.
  7. Closing a position:
    • Client has to name the instrument to close a position, or say the code of the position
    • Operator reports on the parameters of the chosen instrument. If there are several positions then Operator should inform about that and ask if these positions should be proceeded separately or not.
    • Operator speaks parameters of a position and the rate (for example, "Position 11111 USDJPY 1.45 units will be closed at 134.43")
    • After Client confirms his order (saying "Yes" or "It’s correct") Operator completes the transaction. At this stage Client’s approval is the direct reason for transaction to be completed, despite further Client’s actions.
    • Operator reports on the parameters of the transaction (for example, "The position was successfully closed at 134.43, ticket number 111111, USDJPY 1.45 units opened at 123.32, profit is 120 USD (or an equivalent in Client’s deposit account currency)" )
    • If Client doesn’t show his desire to continue the conversation, Operator finishes the dialog and says Goodbye to Client.
  8. Closing of cross-positions
    • Client informs about the instrument for closing of cross-positions, or gives the codes of those positions
    • Operator informs about the parameters of the trading operation with tickets’ numbers for each position (for example, "Proceeding with the closing of cross-positions on EURUSD, BUY 1 unit, ticket number is 11116, and SELL 3 units, ticket number is 11117")
    • After Client confirms his order (saying "Yes" or "It’s correct") Operator completes the transaction. At this stage Client’s approval is the direct reason for transaction to be completed, despite further Client’s actions.
    • Operator reports on transaction result (for example, "Cross-positions on EURUSD were successfully closed, BUY 1 unit, ticket number is 11116, and SELL 3 units, ticket number is 11117. New SELL position for 2 units was opened at 1.2345, ticket number is 11118")
  9. Setting a conditional order
    • Client informs about the instrument he wants to set a conditional order, the type of the order (Buy stop, Sell stop, Sell limit, Buy limit), number of units, price for the conditional order, and – if needed – take profit and stop-loss levels
    • Operator report parameters of the conditional order. If these parameters don’t meet official requirements, Operator has to inform about it, and after that repeat these parameters of the order to Client (for example, "Setting a Buy stop order for USDJPY 2 units at 146.56, take-profit is to be set at 159.90 and stop-loss is to be set at 139.90")
    • After Client confirms his order (saying "Yes" or "It’s correct") Operator completes the transaction. At this stage Client’s approval is the direct reason for transaction to be completed, despite further Client’s actions.
    • Operator then informs about the parameters of the operation (for example, "The Buy stop order was successfully set for USDJPY 2 units at 146.56, take-profit is set at 159.90, stop-loss is set at 139.90, the ticket number is 111112")
    • If Client doesn’t show his desire to continue the conversation, Operator finishes the dialog and says Goodbye to Client.
  10. Modifying a position
    • Client informs about an instrument he wants to modify an order, or gives a position code.
    • Operator reports on current parameters of the order (for example, "Ticket number 111112, the Buy stop order for USDJPY, 2 units at 146.56, with take-profit at 159.90 and stop-loss at 139.90) or " Ticket 111114, Buy EURUSD, 1 unit at 1.3598 with the current profit of 400 USD (or equivalent in Client’s deposit account currency")
    • Client informs what he wants to modify (for example, "For ticket 111114 Buy EURUSD set a take-profit at 1.3890 and stop-loss at 1.3343" or "Change the level of stop order # 111112 to 147.45")
    • If new parameters the Client is asking for do not meet the official requirements or procedures of setting orders, given in the Customer Agreement, then Operator has to inform Client about that and suggest to change the parameters of modification.
    • Operator repeats the parameters of modification (for example, for ticket 111114 Buy EURUSD setting a take-profit at 1.3890 and stop-loss at 1.3343")
    • After Client confirms his order (saying "Yes" or "It’s correct") Operator completes the modification. At this stage Client’s approval is the direct reason for transaction to be completed, despite further Client’s actions.
    • After that Operator reports the current parameters of the order (for example, "For ticket 111114 Buy EURUSD 1 unit at 1.3598 there were successfully set a take-profit at 1.3890 and a stop-loss at 1.3343")
    • If Client doesn’t show his desire to continue the conversation, Operator finishes the dialog and says Goodbye to Client.
  11. Client should give his requests as clear and briefly as possible. The trading order should contain only: type of order, trading instrument, ticket number, price and parameters of the transaction. All other comments that do not contain the above details will not let Operator understand the order accurately and can be taken as a trading order.
  12. Client should strictly follow the given procedure, otherwise his requests cannot be taken as trading order.
  13. All transactions should only be completed after the Client’s obvious approval.
  14. All claims appeared as a result of violation of the current procedure are subject to reject.
  15. Both Client and the Company can record the phone conversation. These records would be considered as a proof argument in case of any disagreement between Parties. If there is no record provided, then Operator’s actions are considered as correct and Client’s requests are considered as completed.
  16. All Client’s requests should meet the Customer Agreement, otherwise these requests can be rejected.
  17. All other cases that are not covered with this procedure, are controlled with the Agreement BT-08. If there is any disagreement between this procedure and the BT-08 Agreement, then the latter has the priority in cases of dispute.