Trading Conditions

Trading Conditions

Account Types
Condition Standard Elite Classic
Available on: Live, Demo Live Live
Trading Platforms MT4, PC & Mobile MT4, PC & Mobile MT4, PC & Mobile
Account Deposit Currency NGN (Naira ₦) NGN (Naira ₦) NGN (Naira ₦)
Leverage/Margin requirements Adjustable from 1:200 – 1:1000 Adjustable, from 1:200 – 1:1000 Adjustable, from 1:200 – 1:1000
Maximum Deposit per Transaction ₦10,000,000 ₦10,000,000 ₦10,000,000
Minimum First Time Deposit ₦5,000 ₦100,000 ₦5,000
Minimum Regular Deposit ₦1,000 ₦1,000 ₦1,000
Market Order Execution Instant Execution / No re-quotes Instant Execution / No re-quotes Instant Execution / No re-quotes
Spread (floating) From 2.1 pips From 1.9 pips From 1.3 pips
Margin Call Level 70% 70% 70%
Stop Out Level 50% 50% 50%
Pricing MT4: 5 decimals for FX (3 on JPY pairs)
Spot Metals: 2 decimals for XAUUSD and 3 decimals for XAGUSD 		MT4: 5 decimals for FX (3 on JPY pairs)
Spot Metals: 2 decimals for XAUUSD and 3 decimals for XAGUSD 		MT4: 5 decimals for FX (3 on JPY pairs)
Spot Metals: 2 decimals for XAUUSD and 3 decimals for XAGUSD
Trading Instruments MT4:
Majors - 7
Crosses - 21
Exotics - 36
Gold - 2
Silver - 1
Energy - 3
MT4:
Majors - 7
Crosses - 21
Exotics - 36
Gold - 2
Silver - 1
Energy - 3
Stocks - 64
Cryptos - 35
Indices - 12
MT4:
Majors - 7
Crosses - 21
Exotics - 36
Gold - 2
Silver - 1
Energy - 3
Pip to Pip Value Ratio (Standard Lots - 1.00) 1:10 1:10 1:10
Minimum Volume in Lots per Trade 0.01 Lot 0.01 Lot 1.00 Lot
Step Lot 0.01 0.01 1.00
Maximum Volume in Lots per Trade Order 1000 1000 1000
Maximum Number of Orders 1 standard lot size x 1000 lots 1 standard lot size x 1000 lots 1 standard lot size x 1000 lots
Maximum No. of Accounts per Client 1 1 1
Condition Standard Elite Classic
Account Types

Please Note

  1. 7B Forex currently offers only NGN MT4 accounts which are only available to clients in Nigeria.
  2. Clients can only have maximum of 3 Live Accounts at any point in time, comprising of 1 of each type of accounts.
  3. Spreads and Commissions charged by 7B Forex accounts on MT4 are taken immediately and only when a position is opened (accounting for both the opening and the closing of the position). All charges are in NGN (Naira ₦)
  4. Spreads are floating (not fixed) and they may decrease/increase during specific volatile periods of the day depending on the market conditions.
  5. Please note that for clients who reside in Nigeria, there is a minimum first-time deposit requirement of ₦5,000 for Standard accounts, ₦100,000 for Elite accounts and ₦5,000 for Classic accounts, to operate any of these accounts.
  6. Also note that for clients who reside in Nigeria, after fulfilling (#5) above, your minimum regular deposit becomes ₦1,000 for all Standard accounts, Elite accounts and Classic accounts.
  7. Margin requirements may vary between symbols/each traded Asset. For further information, please refer to the “Leverage and Margin Requirements” section below.
  8. Also note that on all MT4 market execution accounts (Standard/Elite/Classic), preset SL/TP levels are permitted. In addition, if a client wishes to add SL/TP levels later, the client can modify the existing position after the order is opened.
  9. On 7B Forex servers, 1 Lot size is 1.00 Standard Volume/Lots (equal to 100,000 units). The maximum volume per trade on our server is 1000 Standard lots. The value of 1 pip yields 10 points, i.e. 1pip = 10
  10. 7B Forex applies Swap charges on all FX Currency trades when positions remain open overnight.
  11. Please note that during the daily rollover starting from 23:59:59 (MT4 server time) and for a few seconds, Swap immediately take effect on all opened orders.
  12. All Account types offer a default leverage of 1:200. Based on your experience and knowledge, this can be changed within your 7B Forex Client Area.

Server Time

As a True STP (Straight-Through Processing) Broker, our server Time opens Weekly every Sunday at 00:05GMT (11:05pm, Nigerian Time) and closes on Friday 00:00 (11:00pm, Nigerian Time). This will cause the Weekly opening candle to start at 00:05GMT. However, it does not in any way affect our Spreads, Price reading or Price movement because it resumes its 24hours Market cycle till Friday.