Introduction 

This policy is effective from 1 Jan 2016 and shall remain effective until a more recent version is released.
The prevailing version of the policy is always available at www.mapsig.com.
(referred to herein as “we”, “us” or “our”) is committed to treating its customers fairly and when executing orders on your behalf in relation to financial instruments, will take reasonable steps to achieve what is called “best execution” of your orders. This means that we will have in place a policy and procedures which are designed to obtain the best possible execution result, subject to and taking into account the nature of your orders and the market condition.
Our commitment to provide you with “best execution” does not mean that we owe you any fiduciary responsibilities .
This policy explains how your orders and trades are managed and executed and the factors that can affect that execution.
We currently offer market maker (‘standard’) accounts on the MT4 platform (MT4 Client terminal|MT4 IPhone|MT4 Mobile).
We also offer different execution types; ‘instant’ or ‘market’ execution.
By trading with us you consent to your orders being executed as described herein.

Part One: Summary of Important Points
1. Trades are non-transferable which means if you open a position with us you must close it with us.
2. In relation to standard accounts, your orders are executed on our trading platform(s) exclusively, and not on any exchange or other external execution venue.
3. Placing an order on our platform(s) does not guarantee that a trade will be entered into.
4. In times of volatile markets, the price that a trade is executed at may be different to the one shown on our platform(s) at the time you placed your order.
5. We offer fixed spreads on our instant execution market maker accounts .

Part Two: Execution Factors
Our policy is based on offering the best possible outcome for you based upon the following main criteria:
- Price
- Speed of execution
- Cost of execution
- Likelihood of execution and size of order
Price (this is assigned the highest degree of importance)
Prices shown on our trading platform are based on the prevailing market prices of the relevant underlying instrument that we receive from our multi-contributor price feed sources. These prices are filtered to eliminate rogue and stale prices and are generated electronically by our platform.
Importantly, the price at which you place your order may differ to the price your trade is executed at if there is a price fluctuation between the time you place your order and the time we receive and process it. This is commonly known as ‘slippage’ or ‘gapping’ and is not a result of intervention on our part but a consequence of a number of possible factors such as market open/close times, trading breaks, poor internet connection or general volatility in the underlying market. The outcome of these movements can be either positive or negative, depending on your type of order.
Stop Orders are subject to slippage in either direction but as a general market rule, Limit Orders are not improved other than on market open in the event the price move is in your favor.
We offer fixed spreads on our standard accounts with instant execution even during extreme and volatile market conditions.
Finally, there may be rare occasions where we are unable to show prices on our platform due to circumstances beyond our control. Please refer to the Terms and Conditions for more information.
Speed of Execution (this is assigned very high importance)
In relation to our instant execution standard accounts, wherever possible, trades are executed automatically via our ‘Virtual Dealer’ with no dealing desk intervention. This results in the fastest possible execution. However, there are some circumstances when this is not possible and the order will have to be executed manually. This occurs when:
- The size of your order is greater than certain preset parameters
- The price quoted is outside certain preset parameters and is therefore deemed materially incorrect
- The underlying market is illiquid relative to the size of your order
- Important data is being released
Cost of Execution (this is assigned high importance)
We commit to being entirely transparent in relation to all costs associated with your trading:

Commission
We do not charge commission on our instant execution standard accounts.

Open positions held overnight may incur finance fees which will be debited or credited (as applicable) to your account at the close of the day.

Interest
We do not charge any interest on Open positions held overnight

Sharia Compliant Accounts
We are proud to offer sharia compliant accounts where there is no interest or commission with a competitive terms and conditions

Part Three: EXECUTION TYPES
We offer two types of execution ‘instant’ or ‘market’.

Instant Execution
Instant execution is available with all our account options. Instant execution is designed to execute your orders instantly at the price you see on the screen. Once you submit an order to be executed, the platform will display the current price. If we accept that price the order will be executed. If not, you will receive a “re quote”.

Market Execution
Market execution is available with our standard accounts.
Market execution processes orders immediately, executing at the market price offered by us at the time you submit your order. In the case of market execution no re quote message is returned and the server proceeds to execute the order at the next best price available.

Part Four: ORDER TYPES

Market Orders
An order placed by you to buy or sell a set number of derivatives immediately, at the best available price.

Limit Orders
An order placed by you to buy (Buy Limit) or sell (Sell Limit) a set number of derivatives at a specified price or better. To remove or modify the a limit order you can presseither the delete or modify button before it has been executed select an expiry or manually cancel it.

Stop Orders
An order placed by you to buy (Buy Stop) or sell (Sell Stop) a set number of derivatives when its price reaches a particular point. Once the price is reached, it becomes a Market Order. You can also set Stop Loss or Take Profit orders at the time you place your order.

Trailing Stops
An order that can only be placed when an open position has a floating profit. The order is attached to your open position and is set at a fixed distance away from the opening price. If the market moves in your favour the stop price moves as per the predefined distance from the price. If the market moves against you the stop remains at its last profitable trailing price to ensure a profit is locked in.
Please note this order type is not available on our Tradable platform.

Contingent Orders
A Limit or Stop Order that is attached to a currently ‘working’ Limit or Stop Order. The Contingent Order will only start ‘working’ once the original Stop or Limit Order has been executed.

Part Five: Monitoring and Review of Policy
We will regularly monitor and review the effectiveness of this policy and amend it as necessary.