Legal Documents

Before registering an account with us, there are several legal documentation you should read that’s relevant to the WeOne entity that you’re registering with.

Scope & Application

WeOne (also termed "the Company" henceforth) acts as the principal in the execution of transactions for our Clients, both professional and retail. This Trading Order Execution Policy will apply whenever EssenceFX executes transactions on behalf of our Clients.

The Policy takes into account external factors beyond the Company's control, such as order size and liquidity of the underlying market. Nonetheless, WeOne will take all reasonable steps to obtain the best possible trading outcomes for our Clients as permitted by this Policy. EssenceFX does not, however, guarantee in any way that our executions will be more favourable than what alternative providers can offer.

The Policy forms a critical part of our Terms of Business and is effective from 13 January 2016. By agreeing with the terms of our Customer Agreement, Clients are also agreeing with the terms of the Company's Trading Order Execution Policy.

Best Execution Criteria & Relevant Elements

MetaTrader System Maintenance
Maintenance is performed weekly on the MetaTrader servers from Friday 23:55:00 to Monday 00:00:00. All order activity during this time will not be able to access the live or demo environments.

WeOne actively sources price feeds from some of the world's leading liquidity providers to ensure our Clients are supplied with the best possible price quotes. All trade orders accepted by the Company will be executed strictly at our Clients' requested prices, provided that there are no "slippage" incidents and that the requested prices are still available.

Opening a position in some types of financial instruments provided by WeOne might require Clients to pay a commission and/or other fees. These charges are detailed in our Terms of Business.

All client orders submitted to WeOne are subjected to the relative size of the orders, where the minimum order size is 1,000 units of the base currency (there is no maximum order size). However, the Company reserves the right to decline orders should their size exceed our capability to process and execute them in the underlying market(s). Depending on the circumstances, EssenceFX can opt to extend liquidity to Clients on a case-to-case basis.

Style of Execution
WeOne will act as the principal for all Client orders. We are committed to offering the fastest possible execution speeds and constantly strive to raise our service standards by leveraging on information and communication technology advancements.

Under normal circumstances, orders will be filled at the requested prices within seconds. If a requested price is not available, the order will not be filled. However, execution speeds are also contingent on the quality of Clients' Internet connection - unstable or slow Internet connectivity may result in interrupted and/or delayed connectivity to our platforms. This would then require re-quoting with information from the delayed or interrupted data transmission.

In exceptional circumstances (including but not limited to poor connection speed, abnormal market volatility, and intentional manipulation of quoted prices or other related data), orders can be declined by WeOne, especially if requested prices are not reflective of market prices received by the Company.

Internet connectivity issues and price-feed errors can cause prices displayed on the Trading Platform to not reflect market rates. Though latency arbitrage does exist in the over-the-counter market where Clients engage in buy and sell transactions directly with the principal, the Company does not permit the practice of arbitrage on the Trading Platform. EssenceFX reserves the right to revoke without prior notice all transactions that rely on loopholes or opportunities arising from price latency arbitrage. Please refer to the Allowed Trading Methods section for more information.

Clients' orders may, at the discretion of WeOne’s, be aggregated with the orders of WeOne, WeOne’s associates, and/or other Clients. Orders will only be aggregated when the Company believes that this is unlikely to be unfavourable to any Client. However, WeOne is exempted from any liability if such aggregation works to any Client's disadvantage under unforeseen circumstances.

Allowed Trading Methods

WeOne’s generally permits all types of trading methods and styles. However, the Company reserves the right to close, suspend or recoup any closed profit without prior notice from accounts that it deems to be engaging in unethical or questionable trading styles, which include but are not limited to latency arbitrage, "flooding" our Trading Servers with pending orders and/or order modification requests, excessive logins, and using certain automated trading systems or Expert Advisors. Under normal circumstances, WeOne’s will (but is not obligated to) express our concern in the form of a formal warning to such Clients via e-mail or telephone. However, should they continue to be in breach by failing to remedy the above mentioned unethical or questionable trading styles within a reasonable time-frame, WeOne’s reserves the right to liquidate all or some open positions, close, suspend or recoup any closed profit from these accounts, and return any remaining proceeds to the Clients according to the Company's account-closing procedures or any combination thereof.


Whilst WeOne aims to execute orders at requested prices, price slippages are beyond our control and can occur due to sudden increases in market volatility. Clients are advised to avoid trading during periods of high volatility, such as during news hours.

We would hereby reassure our Clients that slippage is normal and a common feature of the foreign exchange market, which is subject to unpredictable factors like liquidity insufficiency and sentiment volatility due to economic events and major news announcements. WeOne shall not be held liable for losses suffered on account of slippages.


Hedging allows Clients to hold both buy and sell positions in the same product simultaneously. Clients have the ability to enter the market without choosing a particular direction. While the ability to hedge is an appealing feature, Clients should be aware of the factors that could affect their hedged positions.

It is important to note that even a fully hedged account may suffer losses due to rollover costs, exchange-rate fluctuations and/or widening spreads. Such losses may even trigger a margin call.

Contract Expiration

The Company's oil and gas products do not carry expiration dates. Thus, WeOne does not require Clients to provide rollover instructions. However, the underlying assets of the said instruments have expiration and/or delivery dates. The Company will not automatically close Client positions when the underlying assets of the traded instruments are expiring or have expired. Instead, the Company will roll over trading instruments from the price feeds of the expired underlying forward/future contracts to the price feeds of the following forward/future contracts. All open Client positions will be carried forward by the Company.

WeOne reserves the right to decline opening new positions when rolling over expired underlying assets.

Index trading instruments offered by WeOne’s carry expiration dates. We, however, do not require Clients to provide rollover instructions. The Company reserves the right to close all Client positions at the expiration of the traded instruments, and where possible, re-open the said positions with the same size and type at the opening of the market on the following day.

Trading Time Alert

Currency Pair
WeOne’s trading hours are from 00:00 GMT to 24:00 GMT. Outside of operating hours, i.e. from Friday 23:55 GMT to Monday 00:00 GMT, the Trading Platform will not execute trades. Its features will only be available for viewing during this time.

WeOne’s trading hours are from 01:00 GMT to 24:00 GMT. Outside of operating hours, i.e. from Friday 23:30 GMT to Monday 01:00 GMT, the Trading Platform will not execute, close or modify trades.

Monitor & Review

WeOne will regularly monitor the effectiveness of our order execution arrangements and policy to create the most favourable trading outcomes for our Clients. The Company reserves the right to correct any deficiencies in the policy and to make improvements to its execution arrangements as required from time to time.

Pending Orders

WeOne reserves the right to disable without prior notice the pending order function upon major news release.

Kindly note that our legal documentation varies on which WeOne entity you hold and also the regulations that apply with that. You should familiarize yourself with that documentation before completing the application.

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