Million Tinkle International provides spot transaction of Loco London Gold / Silver for investors around the world. Investors can benefit by logging in to your electronic trading platform to conduct trade of gold and silver.
Electronic transaction for Loco London Gold / Silver is a around-the-clock global market. The trading hours of the electronic platform are Beijing time from Monday 8 a.m. to Saturday 3:30 a.m. for standard time and Beijing time from Monday 7:30 a.m. to Saturday 4:00 a.m. for daylight savings time. You can conduct trades in these periods and the market is closed on Sundays and international public holidays.
The turnover is calculated in terms of lots in Loco London Gold / Silver trades. Each lot of Loco London Gold consists of 100 ounces, which equals to 3kg of gold, while each lot of Loco London Silver consists of 5,000 ounces. USD 1000/USD 2000 is required as margin for trading one lot Loco London Gold / Silver. As minimum lot for single trade is 0.1, minimum margin for single trade is 1000 x 0.1= USD 100/2000 x 0.1= USD 200. For example, an investor purchases one lot of Loco London Gold. Then USD 1000 was frozen as margin by the trading system. One lot represents 100 ounces of gold. For example, when Loco London Gold rises by US$20/ ounce, trading profit is US$20/ ounce x 100 ounces = US$2,000. Margin will be unfrozen upon closing of trade and proceeds after profit/ loss will be credited to your account.
Spread charge is imposed on trading transaction. The spread of Loco London Gold and Loco London Silver are US$0.5/ ounce and US$0.04/ ounce. For trading 1 lot of LLG the spread charge is US$50 (US$0.5 x 100) whereas for trading 1 lot of LLS, the spread charge is US$200 (US$0.04 x 5000)
You profit from trades when the price trend and the direction of your position moves towards the same. In other words, you profit from buying the contract when the price goes up or you profit from selling the contract when the price goes down.
For example, the current market price of Loco London Gold is US$1,300/ ounce. When investors believe the price will appreciate and buy 1 lot of contract at the market price, there will be trading profits when market price rises above US$1,300. If the market prices rises to US$1,302/ ounce, trading profit is ascertained at US$200 per lot (100 ounces for 1 lot of Loco London Gold)
All contracts do not expire and investors can hold for an infinite period. Yet there will be an overnight interest when position is not opened and closed on the same day. For buying contracts the overnight interest rate is 1.5% whereas for selling contracts the overnight interest rate is 1.5%. The interest formula is contract price x quantity per contract x lots x interest rate x overnight days of unsettled orders / 360 days. For example, for buying 1 lot of contract of Loco London Gold at US$1,300 for 1 overnight day, the interest is US$1,300/ ounce x 100 ounces x 1 lot x -1% x (1 day/ 360 days) = - US$5.4
Opening a position means placement of order. Investors can either buy or sell contracts. When market price goes up, investors profit from placing a “buy” order. When market price goes down, investors profit from placing a “sell”order. Please click “New Order”(the green cross button under “Tools”) when you wish to open a position or double click either “GOLD” or “SILVER” on the trading list. Then just select the type of contracts, determine volume and the type of order, and click “Buy” or ”Sell” to finish.
Closing a position means settlement of trade for the purpose of arriving the profit and loss. You settle the “buy” contract at “ask”price whereas you settle the “sell”contract at “bid”price. If you wish to close a position, please double click the contract in “Terminal – Trade”, then a new window, in which you can decide volume and type of order, will be displayed. Just another click on the yellow button and the system will display “Please wait” which represents processing. Then click “Confirm” to finish. You can view “Terminal – History”to check the details of the settled trades.