Korea Stock Margin Paper Trading Rules

Before you start trading, please review the following rules for your paper trading account:

1. Initial Assets
Your account starts with 1 billion KRW (approx. 0.66 million USD).

2. Tradable Products
KOSPI and KOSDAQ common stocks only (including preferred stocks). Other products are not currently supported.

3. Trading Hours
09:00 - 15:20 KST (Korea Standard Time)

4. Order Types
Limit, Market, Stop Limit, and Stop Market orders.

5. Time in Force
Day orders only (DAY). The system automatically cancels all unfilled orders after market close.

6. Settlement Rules
Settlement is simplified for paper trading. Funds are available immediately (T+0), and fees are settled in real time.

7. Margin Requirements
Initial margin for long stock positions: 50%
Maintenance margin: 40%
Note: Margin calculations in paper trading may differ from live trading. Actual margin requirements are determined by the paper trading system.

8. Forced Liquidation
If your account equity falls below the maintenance margin requirement, forced liquidation will be triggered. Liquidations occur during Korean stock trading hours only.

9. Corporate Actions
Paper trading currently does not support the automatic processing of corporate actions.

10. Trading Fees

  Note: Trading fees in paper trading are simulated only. No actual charges apply.
  
11. Margin Interest
Margin interest is charged at an annual rate of 8.8%, deducted daily after market closes.

12. Order Matching Rules
Paper trading uses an order book matching mechanism. The system first checks if the last traded price is between the best bid and best ask. An order enters the execution queue when:

• Buy orders: The order price is higher than the last traded price.
• Sell orders: The order price is lower than the last traded price.