We are an unadulterated straight-through handling merchant and can't exchange against you. Our ECN liquidity offers the best value according to our ability.

15.TRADES
1. AlphaFX Markets will act as the principle counterparty on all trades or orders undertaken between you and us.
13. When you place a trade, you deal on our price. We are your counterparty. You sell at our bid price and buy at our offer price. All orders are treated in the same way and will be triggered on our bid or offer.

19.SPREADS
2. AlphaFX Markets reserves the right to change its spreads at any time in any market for any reason. Examples of this might be a lack of liquidity, volatile conditions or out of hours markets.
During this time we may change our maximum deal sizes as well.

26.ORDER EXECUTION POLICY
1. decision as to what markets to offer its clients and it does so not as a broker but as a principle and counterparty to each trade. As such, every market offered by AlphaFX Markets is quoted as a derivative of the underlying market and we are the only execution venue to which you have access through us.
3. AlphaFX Markets may at its discretion hedge some or all of a client's position in the underlying market.

41.SCALPING DEFINITION
Scalping can apply to any online quoted financial market. Traditionally it primarily refers to the Foreign Exchange market due to its size, liquidity and tight spreads. It is when a trader, often using high leverage, attempts to take advantage of a price discrepancy or anomaly in market in an extremely short period of time, typically a few seconds. Often this price anomaly may be caused by latent prices which is where, due to the complexity of transmitting prices online around the world, delays in updates occur, which although small, can still be exploited.

POLICY
AlphaFX Markets, while not condoning the use of ‘scalping', especially in tandem with Expert Advisors, does not forbid it. We reserve the right to switch off the Expert Advisor functionality for any client who we, at our sole discretion, feel is abusing that facility, or may abuse it in the future.