Varför Fifo In Forex Trading

NFA Compliance Rule 2-43b. DEFINITION av NFA Compliance Rule 2-43b. A 2009-regel som implementerades av den amerikanska forexindustrins självreglerande organisation, National Futures Association NFA, angående valutahandel av amerikanska regulerade valutahandlare. Det förbjuder säkring genom att kräva Flera positioner som hålls i samma valutapar som ska kompenseras med en första in, först ut FIFO-bas. Det förbjuder också prisjusteringar av exekverade kundorder, förutom att lösa ett klagomål i kundens tjänst eller vid vissa rakt igenom bearbetningstransaktioner, och dessa ändringar måste granskas, godkännas och dokumenteras av NFA. BREAK DOWN NFA Compliance Rule 2-43b. Traders hänvisar till regel 2-43b som FIFO-regeln. Regelens anhängare säger att det ökar insynen för kunder och ger valutor handelspraxis mer i linje med aktiemarknads - och valutamarknaderna Förändringen tvingade många forexföretag att ändra sina handelsplattformar eftersom den gamla mjukvaran gjorde det möjligt för användarna att välja wh De order som de vill stänga och därigenom inte följer FIFO-regeln Enligt de nya reglerna är det fortfarande möjligt att placera stopp och begränsa order men de måste nu anges olika. Det var också möjligt att undvika förändringarna helt genom att flytta en S Forex-konto till ett företag i ett annat land där Forex Trading regler är olika. OANDA använder cookies för att göra våra webbplatser enkla att använda och anpassade till våra besökare. Cookies kan inte användas för att identifiera dig personligen. Genom att besöka vår webbplats godkänner du OANDAs användning av cookies i enlighet med vår sekretesspolicy Om du vill blockera, ta bort eller hantera cookies kan du besöka. Begränsa cookies gör att du inte kan dra nytta av någon av funktionaliteten på vår hemsida. Ladda ner våra mobila appar. Öppna ett konto. Avsluta handel med FIFO. OANDA måste följa en Forex regleringspolicy om hur du stänger dina affärer. Med början den 30 maj 2011 introducerar OANDA First In First Out FIFO, en Forex trading policy som överensstämmer med National Futures Association NFA Regler Om du har flera öppna positioner av samma storlek och samma valutapar kan den här nya handelspolitiken betyda viktiga förändringar i hur du hanterar dessa affärer. Vad är FIFO och vad betyder det för min handel. I Forex trading är FIFO en Krav på att du måste stänga den första eller äldsta öppna handeln när det finns flera öppna affärer av samma par och lika värde. Vad kommer att hända när jag försöker stänga en handel. Du kan se vilka branscher som är äldsta i Trades-bordet när du sorterar Det med biljettnummer de äldre handlarna har de lägre biljettnumren. Åldersaffärer har de lägre biljettnumren. Du kan fortfarande försöka stänga handel, men du kommer att varnas om den äldsta handeln med valutaparet och enhetsstorleken måste stängas Först Du får möjlighet att stänga den äldsta handeln istället Här är hur det nya gränssnittet fungerar. I Trades-bordet kan du fortfarande klicka på vilken handel du vill stänga. Fartkortsfönstret visas, så att du kan ändra eller stänga Handel Som standard , Är det satt att stänga affärer. När du klickar på Submit. If handeln är den äldsta handeln med samma valutapar och enhetstorlek får du en bekräftelse att den stängdes. Om handeln inte är den äldsta handeln med samma valutapar Och enhetsstorlek, ett meddelande berättar att handeln inte kan stängas. Du får välja att antingen stänga den äldsta handeln istället eller att avbryta begäran. Tips Om du vill se din orealiserade förlust eller vinst på den äldsta handeln innan du går Fortsätt och stäng den, klicka på Avbryt för att återgå till Trades-tabellen och se över dina tidigare positioner. Vad är NFA. National Futures Association NFA är en oberoende organisation som reglerar den amerikanska terminsindustrin Enligt lagen måste alla amerikanska forex-återförsäljare registreras Retail Valutahandlare RFED med US Commodity Futures Trading Commission CFTC RFEDs måste också vara Forex Dealer Members FDMs från National Futures Association OANDAs registreringsnummer med NFA är 0325821.Första i första ut FIFO Examples. Examp Le 1 flera öppna handelar av samma par med samma antal enheter. I det här exemplet på fyra öppna affärer kan du bara stänga biljetten 1234567890 det är den äldsta handeln först in i fyra affärer som alla har samma storlek 10.000 enheter om du försöker För att stänga några av de tre andra biljetterna kommer du att bli ombedd att stänga den äldsta biljetten, 1234567890. I det här exemplet kan du bara stänga biljetten 1234567890. Exempel 2 Flera öppna transaktioner av samma par med olika antal enheter. I detta Exempel på fyra öppna affärer, du har valet att stänga biljetter 1234567890 eller 1234567891 Biljett 1234567890 är den äldsta Första handeln på 5 000-enheter 1234567891 är den äldsta handeln med 10.000 enheter Om du försöker stänga någon av de två andra biljetterna kommer du att Uppmanas att stänga den äldre biljetten först. I det här exemplet har du valet att stänga biljetter 1234567890 eller 1234567891. Commodity Futures Trading Commission CFTC begränsar hävstångseffekten för detaljhandeln förexhandlare i USA till 50 1 på stora valutapar och 20 1 för alla andra OANDA Asia Pacific erbjuder maximal hävstångseffekt på 50 1 på FX-produkter och gränser för hävstångseffekter som erbjuds på CFDs gäller Maximal hävstångseffekt för OANDA Canada-kunder bestäms av IIROC och kan komma att ändras För mer information se vår lagstiftnings - och finansiell överensstämmelse sektion.1996 - 2017 OANDA Corporation Alla rättigheter förbehållna OANDA, fxTrade och OANDA s fx familje varumärken ägs av OANDA Corporation Alla andra varumärken som visas på denna webbplats är deras respektive ägares egendom. Valutakontrakt eller andra utbytesprodukter på marginal medför en hög risknivå och kanske inte är lämplig för alla Vi rekommenderar att du noga överväger om handel är lämplig för dig mot bakgrund av dina personliga förhållanden Du kan förlora mer än du investerar Information På denna webbplats är generellt av natur Vi rekommenderar att du söker oberoende ekonomisk rådgivning och ser till att du förstår fullständigt e risker som är inblandade innan handel Handel via en online-plattform medför ytterligare risker Se vår rättsliga sektion här. Finansiell spridning är endast tillgänglig för kunder i OANDA Europe Ltd som är bosatta i CFDs i Storbritannien eller Irland, MT4-säkringskapacitet och hävstångsförhållanden överstiger 50 1 är inte tillgänglig för invånare i USA Informationen på denna webbplats är inte riktad till invånare i länder där dess distribution eller användning av någon person skulle strida mot lokal lagstiftning eller reglering. OANDA Corporation är ett registrerat handels - och detaljhandelskommitté för Futures Commission. Återförsäljare med Commodity Futures Trading Commission och är medlem i National Futures Association nr 0325821 Vänligen hänvisa till NFA s FOREX INVESTOR ALERT där det är lämpligt. OANDA Canada Corporation ULC-konton är tillgängliga för alla med ett kanadensiskt bankkonto OANDA Canada Corporation ULC är reglerad Av Investment Industry Regulatory Organization av Kanada IIROC, som inkluderar IIROC så nlineconsultkontrolldatabas IIROC AdvisorReport och kundkonton skyddas av den kanadensiska investerarskyddsfonden inom angivna gränser En broschyr som beskriver naturen och begränsningarna för täckningen är tillgänglig på begäran eller hos. OANDA Europe Limited är ett företag registrerat i England nummer 7110087 och har sitt säte på Golv 9a, Tower 42, 25 Old Broad St, London EC2N 1HQ Det är auktoriserat och reglerat av Financial Conduct Authority nr 542574.OANDA Asia Pacific Pte Ltd Co Reg nr 200704926K innehar en kapitalmarknadstjänstlicens utfärdad av Singapores monetära myndighet och är också licensierad av International Enterprise Singapore. OANDA Australia Pty Ltd är reglerad av Australian Securities and Investments Commission ASIC ABN 26 152 088 349, AFSL nr 412981 och är utgivare av produkterna och tjänsterna på denna webbplats Det är viktigt för dig att överväga den nuvarande Financial Service Guide, FSG Product Disclosure Statement, PDS Account Terms and any andra relevanta OANDA-dokument innan de fattar några finansiella investeringsbeslut. Dessa dokument finns här. OANDA Japan Co Ltd Första Typ I Finansiella Instrument Företagsledare för Kanto Lokala Finansiella Byrån Kin-sho nr 2137 Institutet Financial Futures Association abonnentnummer 1571.Trading FX och Eller CFDs på marginal är högrisk och inte lämplig för alla. Förluster kan överstiga investeringar. Hade under ny NFA-reglering FIFO först in, first-out rule. NFA regel 2-43 b NFA har nyligen antagit regel 2-43 b som effektivt eliminerar säkring genom att tvinga mäklare att stänga affärer på en första i första FIFO-basen. NFA har lagt till förtydligande av regeln där det anges att kunderna kan instruera sin mäklare att utjämna lika stora positioner. Vissa näringsidkare har uttryckt oro för att regeln kommer att negativt påverka Deras handel utanför den uppenbara begränsningen av säkringar Författarens ställning är att FIFO kommer att lägga till ett lager av komplexitet men bör inte negativt påverka en handlare Turns. The Multiple Strategy Trade Trades i samma riktning Det är inte ovanligt för näringsidkare att engagera sig i flera strategier inom samma konto vid första anblicken verkar regeln hindra någon strategi vars handel hade öppnats först. Närmare inspektion är det inte fallet. Sample EUR USD Trades Priserna är hypotetiska. Exempel 1 Pre FIFO. Trade 1 Långsiktig strategi Lång handel 1 4287 Stopp 1 4000 Limit 1 4500.Trade 2 Kortfristig strategi Lång handel 1 4350 Stopp 1 4250 Limit 1 4475. I det här exemplet träffar Trade 2 sitt stopp innan Trade 1 träffar sin gräns Före FIFO Trade 2 s-stoppet vid 1 4250 skulle tillämpas direkt på Trade 2.Trade 2 Net PL är 1 4250 1 4350 -0 0100 -100 Pips. Trade 1 fortsätter att slå sin gräns på 1 4500.Trade 1 Net PL är 1 4500 1 4287 0 0213 213 Pips. Total PL från båda positionerna är 113 Pips. Trade 1 Long Term Strategy Long Trade Entry 1 4287 Stopp 1 4000 Limit 1 4500. Handel 2 Kortfristig strategi Lång handel 1 4350 Stopp 1 4250 Limit 1 4475. I denna examp Le, Trade 2 slår sitt stopp innan Trade 1 träffar sin gräns Enligt FIFO måste Trade 1 nu stängas ut först. Trade 1 Net PL är 1 4250 1 4287 -0 0037 -37 Pips. Depending på hur mäklare hanterar det återstående stoppet Och begränsa order kommer detta effektivt att lämna Trade 2 med sin ursprungliga Limit men Trade 1 s Stop Trade 1 s Limit kan också vara i limbo här. Vid denna punkt bör handlare nu titta på Trade 2 som ersättare för Trade 1 Trade 1 blev Handel 2 när Trade 2 s stopp slogs om Trade 2 får ta plats för Trade 1 och träffar sin gräns som i Prov 1 PL är följande. Handel 2 Net PL är 1 4500 1 4350 0 0150 150 Pips. Total PL Från båda positionerna är 113 Pips. För att detta ska fungera måste handlare avlägsna den ursprungliga Trade 2 Limit på 1 4475, annars kommer de att se Netto vinstnivåer lägre än summan av den ursprungliga Pre-FIFO-handelsuppsättningen. När handlare arbetar igenom detta prov Ett par gånger kommer tillämpningen av byteshandel att bli uppenbar och genomförandet borde vara relativt Ativt rakt framåt. Vänligen kontrollera med din mäklare hur stopp kommer att hanteras på din plattform Den nya regeln kommer att påverka OCO en annullerar andra och handlare bör inte anta hur återstående slutar och gränser kommer att tillämpas. Programmet kan variera från mäklare till mäklare. Dubbla häcken. NFA s Ställning avseende säkring är att det inte ger någon ekonomisk fördel det här är också författarens position Den nya FIFO-regeln eliminerar möjligheten för en näringsidkare att säkra positioner, vilket har en sekundär inverkan att hindra en näringsidkare från att använda flera strategier inom samma konto. Begränsningarna kan handlare effektivt duplicera en säkringsstrategi och eller flera strategier i ett enda konto genom att helt enkelt få neutrala inga öppna positioner när deras modell skulle signalera en häck eller ett nytt motsatt läge krävs. I proverna nedan granskar vi effekterna av en öppen Position på ett hypotetiskt 100 000 konto Pips som vunnits eller förloras antas vara värda tio dollar per pip Den ursprungliga positionen antas vara En lång USD-inmatning görs ingen justering för transaktionspåverkande spridning. Prov 1 Baslinjehandeln säkras inte och positionen lämnas öppen genom balansräkningen av prisåtgärden. Exempel 2 säkrade affärer säkras mot slutet av prissatsprovet . Sample 3 Neutral Trades stängs ut när en hedge eller motsatta position krävs. När en näringsmodell skulle signalera slutet på en häck eller motsatta position skulle de helt enkelt återinföra marknaden till det aktuella priset. Det bör noteras att denna tillvägagångssätt Inducerar inte högre transaktionskostnader och kan faktiskt minska överflyttningseffekter som tenderar att gynna mäklaren. Ett annat alternativ för handlare som vill fortsätta säkringa med NFA-reglerad mäklare. Ja, det kräver att två konton öppnas med samma mäklare eller två Olika mäklare På så sätt kan handlare kunna sälja valutor på ett konto samtidigt som de köper valutor på en annan, vilket ger samma säkringseffekt. Det är en faktor att tänka på när handlare skulle Måste övervaka hälsan för båda handelskonton och överföra pengar i tid från ett växande konto till en krympande för att balansera vinster och förluster och undvika marginalsamtal. Första in, först ut - FIFO. BREAKING DOWN Första in, först ut - FIFO. FIFO används för kostnadsflödesanslutningsändamål Eftersom varor som tillverkas fortsätter till senare utvecklingsstadier och när färdiga varulager säljs måste de därtill hörande kostnaderna med den produkten redovisas som en kostnad. Dollarnvärdet av den totala inventeringen minskar eftersom detta uppstår på grund av att Inventeringen har tagits bort från företagets ägarandel. De kostnader som är förknippade med inventeringen kan beräknas på många sätt, varav en är FIFO-metoden. FIFO Logistics. As inventeringsobjekt är förberedda till försäljning, de tilldelas kostnader. Detta kan ske genom inköp av Inventering av produktionskostnader genom inköp av material och utnyttjande av arbetskraft Dessa tilldelade kostnader baseras på den ordning i vilken produkten användes och för FIFO, det är baserat på vad som kom först Om till exempel, om 100 artiklar köptes för 10 och 100 fler objekt köptes nästa för 15, skulle FIFO tilldela kostnaden för det första föremålet att sälja om 10 efter att 100 varor såldes, den nya Kostnaden för varan blir 15 år, oavsett eventuella ytterligare lagertillskott. FIFO-metoden följer logiken att för att undvika föråldring skulle ett företag sälja de äldsta varorna först och behålla de nyaste föremålen i inventeringen. Även om den faktiska värderingsmetoden för lagret används behöver inte följa det faktiska flödet av lager genom ett företag, måste en enhet kunna stödja varför den valde användningen av en särskild värderingsmetod för lager. Effekten av FIFO mot andra värderingsmetoder. Typiska ekonomiska situationer innebär inflationsmarknader och stigande priser Om FIFO tilldelar de äldsta kostnaderna till kostnaden för varor sålda, kommer dessa äldsta kostnader teoretiskt att prissättas lägre än den senaste inventeringen som köpts vid hyra uppblåsta priser Denna lägre kostnad resulterar i högre nettoresultat Dessutom, eftersom den nyaste inventeringen köpts till generellt högre priser, upplöses slutförvaringsbalansen. Alternativ till FIFO. The inventory valuation method opposite FIFO är LIFO där sista objektet i är den första rubriken I inflationsekonomierna resulterar detta i deflaterade nettokostnader och lägre slutkurs i lager jämfört med FIFO. Metoden för genomsnittlig kostnadsinvestering tilldelar samma kostnad för varje enskild punkt. Detta resulterar i nettoresultat och slutlig lagerbalans mellan FIFO och LIFO Slutligen används specifikt inventeringsspårning när alla komponenter som kan hänföras till en färdig produkt är kända. Om alla delar inte är, är det lämpligt att använda någon metod utifrån FIFO, LIFO eller genomsnittlig kostnad. Expansionsrisker. Dessa par har en nivå av Risker i samband med dem som inte kan vara inneboende Marknaden för dessa valutor är mycket illikvida, likviditeten upprätthålls och tillhandahålls av en eller f Externa källor Dessa likviditetsproblem inkluderar, men är inte begränsade till, oförmågan att lämna positioner baserat på brist på marknadsaktivitet, skillnader i angivna priser och slutligt utförande eller en försenad genomförande medan en motpart för din specifika transaktion identifieras med Dessa överväganden i åtanke är att det är absolut nödvändigt att någon näringsidkare får detta till något handelsbeslut. Vi uppmanar därför alla aktörer att utnyttja avancerade ordertyper för att mildra dessa risker. DELAYS IN EXECUTION. Delays i utförandet kan förekomma med FXCM s No Dealing Desk forex Exekveringsmodell av olika skäl, t. ex. tekniska problem med näringsidkarens internetanslutning till FXCM, en fördröjning i orderbekräftelse från en likviditetsleverantör eller en brist på tillgänglig likviditet för det valutapar som handlaren försöker handla på grund av inneboende volatilitet i Marknaderna är det absolut nödvändigt att näringsidkare har en fungerande och pålitlig internetanslutning n näringsidkarens personliga internetanslutning kan inte upprätthålla en konstant anslutning till FXCM-servrarna på grund av bristande signalstyrka från en trådlös eller uppringningsanslutning En störning i anslutningsvägen kan ibland avbryta signalen och inaktivera FXCM Trading Station, vilket orsakar förseningar i överföringen av data mellan handelsstationen och FXCM-servern Ett sätt att kontrollera din internetanslutning med FXCM-servern är att pinga servern från datorn. RESET ORDERS. Marketvolatilitet skapar villkor som gör det svårt att genomföra order på den angivna Pris på grund av extremt hög ordervolym Vid det tillfälle som beställningar kan genomföras kan budgivningspriset där en likviditetsleverantör är villig att ta ställning vara flera pips away. In fall där likviditetspoolen inte är tillräckligt stor För att fylla en orderordning, kommer ordern inte att utföras För Limit Entry eller Limit orders, skulle ordern inte utföras utan istället återställas tills beställningen kan fyllas i Kom ihåg att både Gränser och Gränsorder garanterar pris men garanterar inte genomförandet Beroende på den underliggande handelsstrategin och de underliggande marknadsförhållandena kan handlare vara mer oroade mot utförandet jämfört med det mottagna priset. BREDDA SPREADS. There kan förekomma när spridningar utökas Utöver den typiska spridningen Spread är en funktion av marknadslikviditet och i perioder med begränsad likviditet, öppen på marknaden eller vid överlåtelse vid klockan 17.00 ET kan spridningarna öka som en följd av osäkerhet i prisriktningen, en stigande marknadsvolatilitet, eller brist på marknadslikviditet Det är inte ovanligt att se att spridningar utökar sig speciellt kring rollover. Handelsövergången är typiskt en väldigt tyst period på marknaden, eftersom affärsdagen i New York bara har upphört och det finns fortfarande några timmar innan den nya verksamheten Dag börjar i Tokyo Att vara medveten om dessa mönster och ta hänsyn till dem när de handlar med öppna order eller att placera nya affärer runt dessa tider kan förbättra din handelserfarenhet Detta kan inträffa under nyhetshändelser och spridningar kan öka avsevärt för att kompensera för den enorma volatiliteten på marknaden. De utvidgade sprickorna kan bara variera några sekunder eller så länge som några få minuter FXCM uppmuntrar aktörer till att använd försiktighet vid handel kring nyhetshändelser och var alltid medveten om deras eget kapital, användbar marginal och marknadseksponering. Förhöjda spreaders kan påverka alla positioner i ett konto, inklusive säkrade positioner som diskuteras nedan. HANGNINGSORDNINGAR. Under perioder med hög volym kan hängande order inträffa Det här är ett villkor där en order är i färd med att exekvera, men exekveringen har ännu inte bekräftats. Ordern kommer att markeras i rött, och statuskolumnen indikerar utförd eller bearbetning i orderfönstret. I dessa fall är ordern i Processen att bli verkställd men väntar tills FXCM erhåller bekräftelse från likviditetsleverantören att de citerade priserna är sti Ll Tillgänglig Under perioder med stor handelsvolym är det möjligt att en beställningsköning kommer att bildas. En ökning av inkommande order kan ibland skapa villkor där det finns en försening från likviditetsleverantörerna för att bekräfta vissa beställningar. Beroende på vilken typ av order som placeras, Resultatet kan variera Om det gäller en orderordning som inte kan fyllas inom det angivna intervallet eller om förseningen har gått, kommer ordern inte att utföras. Vid en order på marknaden kommer alla försök att utföras Order till nästa tillgängliga pris på marknaden I båda situationerna indikeras statuskolumnen i orderfönstret vanligtvis exekverad eller bearbetad. Handeln tar bara några ögonblick att flytta till fönstret öppna positioner Beroende på beställningstyp kan positionen I själva verket har utförts och förseningen beror helt enkelt på stor internettrafik. Tänk på att det bara är nödvändigt att skriva in en beställning en gång. Flera poster för samma order kan sakta eller låsa din dator eller oavsiktligt öppna oönskade positioner. Om du inte kan komma åt FXCM Trading Station för att hantera ditt konto, kan du ringa Trade Desk direkt på 1 212-201-7300. Visa en fullständig lista över internationella kontaktnummer. GREYED OUT PRICING. Greyed out pricing är ett villkor som uppstår när forex-likviditetsleverantörer som tillhandahåller prissättning till FXCM inte aktivt gör en marknad för vissa valutapar och likviditeten minskar därför FXCM gör inte avsiktligt grå ut priser, men ibland en allvarlig ökning av Skillnaden i spridningen kan uppstå på grund av förlust av anslutning med en leverantör eller på grund av ett tillkännagivande som har en dramatisk effekt på marknaden som begränsar likviditeten. Sådant avbrott av priser eller ökade spridningar kan leda till att marginalsamtal på ett näringsidkarekonto när En order placeras på ett valutapar som påverkas av gråtonade priser, kommer PL tillfälligt att blinka till noll tills paret har ett omsättningsbart pris och systemet kan beräkna Sena PL-balansen. Möjligheten att säkra möjliggör att en näringsidkare kan hålla både köp och sälja positioner i samma valutapar samtidigt. Handlare har möjlighet att komma in på marknaden utan att välja en viss riktning för ett valutapar Även om säkring kan mildra eller begränsa framtida förluster Det hindrar inte kontot från att bli föremål för ytterligare förluster helt och hållet På valutamarknaden kan en näringsidkare fullt ut säkra sig med kvantitet men inte på pris. Detta beror på skillnaden mellan köp - och försäljningspriserna eller spridningen Effektiv, 02 december 2012 kommer FXCM-handlare att behöva placera marginaler för ena sidan den större sidan av en säkrad position. Marginkrav kan övervakas hela tiden i det enkla handlingsfönstret. Medan förmågan att häcka är en tilltalande funktion bör handlare vara medvetna om Följande faktorer som kan påverka säkrade positioner. Minskande marginal. En marginalanrop kan inträffa även när ett konto är helt säkrat, eftersom spridningen kan öka, vilket orsakar Återstående marginal i kontot för att minska Om den kvarvarande marginalen inte är tillräcklig för att behålla några öppna positioner kan kontot upprätthålla ett marginalanrop, stänga eventuella öppna positioner i kontot. Även om du behåller en lång och kort position kan du ge intrycket att hans exponering för marknadens rörelse är begränsad, om det inte finns tillräcklig tillgänglig marginal och spridningen spridas under en viss tid, kan det säkerligen resultera i ett marginalanrop på alla positioner. ROLLOVER COSTS. Rollover är samtidig stängning och öppning av en position vid en Särskild punkt under dagen för att undvika uppgörelse och leverans av den köpta valutan. Denna term avser även räntan antingen laddad eller tillämpad på en näringsidkares konto för positioner som hölls över natten, vilket betyder efter 5 pm ET på FXCM s Plattformar Tidpunkten vid Vilka positioner är stängda och återupptagna och övergångsavgiften debiteras eller krediteras, kallas vanligen "Trade Rollover TRO". Det är viktigt att notera att Övergångsavgifterna kommer att vara högre än övergångsperiodens löptid När alla positioner är säkrade i ett konto, även om den totala nettopositionen kan vara platt kan kontot fortfarande uppstå förluster på grund av den spridning som uppstår vid övergången. Spridningar under övergången kan vara bredare när jämfört med andra tidsperioder på grund av att likviditetsleverantörer tillfälligt kommer offline för att lösa dagens transaktioner. Behöver du hantera positionerna följaktligen kring rollover och förstå följderna av spridningar som utökas med avseende på utförande med befintliga öppna positioner eller nya positioner. EXCHANGE RATE FLUCTUATIONS PIP COSTS. Valutakursfluktuationer eller pipkostnader definieras som värdet som ges till en piprörelse för ett visst valutapar. Den här kostnaden är det valutabelopp som kommer att erhållas eller förloras med varje piprörelse i valutapar s-kursen och kommer att betecknas i Valutarbeteckningen på det konto där paret handlas. På FXCM-plattformarna är pipkostnaden för Alla valutapar kan hittas genom att välja Visa, följt av Hantera visningar och sedan genom att klicka på Enkla priser för att tillämpa kryssrutan bredvid den. Om enkla priser redan har en kryssmarkering bredvid den, så visas handelskurserna i den enkla vyn som lätt som att klicka på fliken Simple Dealing Rates i fönstret för hanteringsfrekvensen När synliga visas den enkla räntans visa pipkostnaden på höger sida av fönstret. INVERTED SPREADS. When du handlar forex med FXCM genom att använda en No Dealing Desk-körning Modell, handlas du på prisflöden som tillhandahålls av flera likviditetsleverantörer, plus FXCM s-markering. I sällsynta fall kan dessa matar störas. Det kan bara vara ett ögonblick, men när det gör sprider sig inverterade. Under dessa sällsynta tillfällen rekommenderar FXCM att kunderna undviker att placera på marknadsorder. Även om det kan vara frestande att placera en frihandel, tänk på att priserna inte är riktiga och din faktiska fyllning kan vara många pips bort från det visade priset. Om Traderna exekveras till priser som faktiskt inte erbjuds av FXCMs likviditetsleverantörer. FXCM förbehåller sig rätten att vända om sådana affärer, eftersom de inte anses vara giltiga affärer Genom att placera order på order eller inte handla under dessa stunder kan handlare undvika risken i samband med över scenarier. HOLIDAY WEEKEND EXECUTION. TRADING DESK HOURS. Handelsdisken öppnas på söndagar mellan kl. 00.00 ET och 15.00 ET Handelsdisken stängs på fredagar klockan 16.00 ET. Observera att beställningar som placerats tidigare kan fyllas fram till 5 00 pm ET och att näringsidkare placerar handel mellan 4 55 och 5:00 ET kan det vara omöjligt att avbryta order i avvaktan på utförandet. Om en Market GTC Order lämnas in rätt till marknaden stängs möjligheten att det inte kan utföras till söndag På marknaden öppen Var försiktig när du handlar runt fredag ​​s marknad nära och faktor all information som beskrivs ovan till något handelsbeslut. Öppet eller stängt tider kan ändras av Handelsdisken eftersom det förlitar sig på priser som erbjuds av likviditetsleverantörer till FXCM Utanför dessa timmar är de flesta stora världsbankerna och finansiella centra stängda. Bristen på likviditet och volym under helgen hindrar genomförandet och prisleveransen. PRIS UPPFÖRING FÖRE OPEN. Kort före öppet, Handelsdisken uppdaterar priserna för att återspegla nuvarande marknadspriser i förberedelser inför det öppna Vid denna tidpunkt är handelar och order som hålls över helgen föremål för verkställande. Kurser under denna tid kan inte köras för nya marknadsordningar. Efter det öppna kan handlare Placera nya affärer och avbryta eller ändra befintliga beställningar. Söndags öppningspriser kan eller kanske inte vara samma som fredags s slutkurs. Ibland är priserna på söndagsöppen närmast där priserna var på fredagens stängning Vid andra tillfällen, Det kan finnas en betydande skillnad mellan fredag ​​s stäng och söndag s öppen Marknaden kan vara klyftan om det finns ett betydande nyhetsmeddelande eller en ekonomisk händelse som förändrar hur marknaden ser på e Val av valuta Valutahandlare som håller positioner eller order under helgen borde vara fullt bekväma med marknadens potential till gap. ORDER EXECUTION. Limit-order fylls ofta till önskat pris eller bättre Om det begärda priset eller ett bättre pris inte är Finns på marknaden kommer beställningen inte att fyllas. Om det begärda priset på en Stop-order nås vid öppnandet av marknaden på söndag kommer ordern att bli en marknadsorderbegränsning. Inkomsterna fylls på samma sätt som Limit order Stop Entry order fylls på samma sätt som Stops. WEEKEND RISK. Traders som fruktar att marknaderna kan vara extremt flyktiga under helgen, det kan hända eller att risken för weekendrisk inte är lämplig för deras handelsstil, kan helt enkelt stänga ut Order och positioner inför helgen Det är absolut nödvändigt att handlare som håller öppna positioner under helgen förstår att potentialen finns för stora ekonomiska händelser och nyhetsmeddelanden för att påverka värdet på y Våra underliggande positioner Med tanke på volatiliteten uttryckt på marknaderna är det inte ovanligt att priserna är ett antal pips borta på marknaden som är öppna från marknaden. Vi uppmuntrar alla handelsmän att ta hänsyn till detta innan de fattar ett handelsbeslut. MARGIN REKOMMENDERAR OCH FRAMSTÄLLER. Marginalanrop utlöses när din användbara marginal understiger nollpunkten Detta inträffar när dina flytande förluster minskar ditt eget kapital till en nivå som är mindre än marginalkravet. Därför är resultatet av eventuella marginalanrop efterföljande likvidation om inte annat anges. Tanken om marginal handel är att din marginal fungerar som en trovärdig insättning för att säkra det större teoretiska värdet av din position. Marginalhandel tillåter näringsidkare att hålla en position som är mycket större än det faktiska kontovärdet. FXCM s Trading Station har marginalstyrningsfunktioner som möjliggör användningen av Hävstångseffekt Risken för handel med margin kommer naturligtvis med risk eftersom hävstångseffekten kan fungera mot dig så mycket som det fungerar för dig Om kontoandel f Totalt under marginalkraven kommer FXCM Trading Station att utlösa en order att stänga alla öppna positioner Om positionerna har överleverats eller att handelsförluster uppstår till den punkt där det inte finns tillräckligt med eget kapital för att behålla nuvarande öppna positioner och användarens marginal faller under noll, ett marginalanrop kommer att resultera och alla öppna positioner kommer att stängas likviderade. Tänk på att när användarens marginal faller under noll, utlöses alla öppna positioner för att stänga. Likvidationsprocessen är utformad för att vara helt elektronisk. Fastän the margin call feature is designed to close positions when account equity falls below the margin requirements, there may be instances when liquidity does not exist at the exact margin call rate As a result, account equity can fall below margin requirements at the time orders are filled , even to the point where account equity becomes negative This is especially true during market gaps or volatile periods FXCM recommends that traders use Stop orders to limit downside risk in lieu of using a margin call as a final stop. It is strongly advised that clients maintain the appropriate amount of margin in their accounts at all times Margin requirements may be changed based on account size, simultaneous open positions, trading style, market conditions, and at the discretion of FXCM. Metatrader 4.Please note that MT4 users are subject to different margin call procedures When a margin call is triggered on the account, individual positions will be liquidated until the remaining equity is sufficient to support existing position s In deciding what positions will be individually liquidated the largest losing position will be closed first during liquidation. CHART PRICING VS PRICES DISPLAYED ON THE PLATFORM. It is important to make a distinction between indicative prices displayed on charts and dealable prices displayed on the platforms, such as Trading Station and MetaTrader 4 Indicative quotes are those that offer an i ndication of the prices in the market, and the rate at which they are changing These prices are derived from a host of contributors such as banks and clearing firms, which may or may not reflect where FXCM s liquidity providers are making prices Indicative prices are usually very close to dealing prices, but they only give an indication of where the market is Executable quotes ensure finer execution and thus a reduced transaction cost Because the spot forex market lacks a single central exchange where all transactions are conducted, each forex dealer may quote slightly different prices Therefore, any prices displayed by a third party charting provider, which does not employ the market maker s price feed, will reflect indicative prices and not necessarily actual dealing prices where trades can be executed. MOBILE TRADING PLATFORMS. There are a series of inherent risks with the use of the mobile trading technology such as the duplication of order instructions, latency in the prices provide d, and other issues that are a result of mobile connectivity Prices displayed on the mobile platform are solely an indication of the executable rates and may not reflect the actual executed price of the order. Mobile TS II utilizes public communication network circuits for the transmission of messages FXCM shall not be liable for any and all circumstances in which you experience a delay in price quotation or an inability to trade caused by network circuit transmission problems or any other problems outside the direct control of FXCM Transmission problems include but are not limited to the strength of the mobile signal, cellular latency, or any other issues that may arise between you and any internet service provider, phone service provider, or any other service provider. It is strongly recommended that clients familiarise themselves with the functionality of the FXCM Mobile Trading Station prior to managing a live account via portable device. TS MOBILE TABLET APPLICATION. FXCM s Trading St ation Web platform has been modified to run on mobile and tablet devices The mobile platform for tablet devices is called Trading Station Mobile and has the same trading features as Trading Station Web The same connectivity risks described above regarding our Mobile TS II apply to use with any application made available for tablet trading. Dealing Desk Forex Execution Trading Risks. HIGH RISK INVESTMENT. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors Before deciding to trade these products offered by Forex Capital Markets, Limited FXCM you should carefully consider your objectives, financial situation, needs and level of experience Forex Capital Markets, Limited is authorised and regulated by the UK Financial Conduct Authority FCA Registration No 217689 FXCM maintains its registered office at Northern and Shell Building, 10 Lower Thames Street, 8th Floor, London EC3R 6AD FXCM may provide general commentary without regard to your objectives, financial situation or needs General advice given, or the content of this website are not intended to be personal advice and should not be construed as such The possibility exists that you could sustain a loss in excess of your deposited funds You should be aware of all the risks associated with trading on margin FXCM recommends you seek advice from an independent financial advisor. FXCM MARKET OPINIONS. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary, and does not constitute investment advice FXCM will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. INTERNET TRADING RISKS. There are risks associated with utilising an internet-based deal-execution trading system including, but not limited to, the failure of hardware, software, and internet connection Since FXC M does not control signal power, its reception or routing via the internet, configuration of your equipment or reliability of its connection, we cannot be responsible for communication failures, distortions or delays when trading via the internet FXCM employs backup systems and contingency plans to minimise the possibility of system failure, which includes allowing clients to trade via telephone. DEALING DESK FOREX EXECUTION MODEL. FXCM also offers forex execution via a Dealing Desk execution model In this model, FXCM s compensation may not be limited to our standard markup and our interests may be in direct conflict with yours FXCM faces market risk as a result of entering into trades with you FXCM may take steps to mitigate its risk arising from market making more effectively by, at our sole discretion and at any time and without previous consent, transferring your underlying account to our NDD execution offering FXCM may also choose to transfer your account to our No Dealing Desk NDD offering should the equity balance in your account exceed the maximum 20,000 currency units in which the account is denominated Account equity is defined as the balance of your account plus the floating P L of your open positions. Dealing Desk execution and trading is not conducted on an exchange FXCM is acting as a counterparty in these transactions and, therefore, acts as the buyer when you sell and the seller when you buy As a result, FXCM s interests may be in conflict with yours Unless otherwise specified in your written agreement or other written documents FXCM establishes the prices at which it offers to trade with you The prices FXCM offers might not be the best prices available and FXCM may offer different prices to different clients If FXCM elects not to cover its own trading exposure, then you should be aware that FXCM may make more money if the market goes against you. The currency pairs listed below are available on the Dealing Desk execution offering FXCM does not guarantee that quotes, prices, or spreads will always be better on one form of execution as compared to the other Customers should consider many factors when deciding which execution type best suits their needs e g conflict of interest, trading style or strategy, etc. FXCM aims to provide clients with the best execution available and to get all orders filled at the requested rate However, there are times when, due to an increase in volatility, orders may be subject to slippage Slippage most commonly occurs during fundamental news events or periods of high volatility Instances such as trade rollover 5pm EST is a known period in which the amount of liquidity tends to be limited as many liquidity providers settle transactions for that day For more information on why rollover occurs, see the section on Rollover Costs During periods such as these, your order type, quantity demanded, and specific order instructions can have an impact on the overall execution you receive. The volatility in the market ma y create conditions where orders are difficult to execute For instance, the price you receive in the execution of your order might be many pips away from the selected or quoted price due to market movement In this scenario, the trader is looking to execute at a certain price but in a split second, for example, the market may have moved significantly away from that price The trader s order would then be filled at the next available price for that specific order FXCM provides a number of basic and advanced order types to help clients mitigate execution risk One way to mitigate the risk associated with slippage is to utilize the Market Range Max Deviation for MT4 users feature on FXCM s Platforms The Market Range feature allows traders to specify the amount of potential slippage they are willing to accept on a market order by defining a range Zero indicates that no slippage is permitted By selecting zero on the Market Range, the trader is requesting his order to be executed only at the se lected or quoted price, not any other price Traders may elect to accept a wider range of permissible slippage to raise the probability of having their order s executed In this scenario the order will be filled at the best price available within the specified range For instance, a client may indicate that he is willing to be filled within 2 pips of his requested order price The system would then fill the client within the acceptable range in this instance, 2 pips if sufficient liquidity exists If the order cannot be filled within the specified range, the order will not be filled Please note, Market Range orders specify a negative range only If a more preferential rate is available at the time of execution traders are not limited by the specified range for the amount of positive price improvement they can receive. Additionally, when triggered, stop orders become a market order available for execution at the next available market price Stop orders guarantee execution but do not guarantee a particular price. When trading Forex via FXCM s dealing desk execution model, FXCM is the final counterparty to these transactions Therefore, FXCM is providing all liquidity for all currency prices it extends to its clients while dealing as counterparty FXCM is able to make auto execution available by limiting the max trade size of all orders to 2 million per trade. DELAYS IN EXECUTION. A delay in execution may occur using a dealing desk model for various reasons, such as technical issues with the trader s internet connection to FXCM or by a lack of available liquidity for the currency pair that trader is attempting to trade Due to inherent volatility in the markets, it is imperative that traders have a working and reliable internet connection There are circumstances when the trader s personal internet connection may not be maintaining a constant connection with the FXCM servers due to a lack of signal strength from a wireless or dialup connection A disturbance in the connection path can sometimes interrupt the signal and disable the FXCM Trading Station, causing delays in the transmission of data between the trading station and the FXCM server One way to check your internet connection with FXCMs server is to ping the server from your computer. TIMEFRAME COMPLETION OF TRANSACTION. FXCM endeavours to process orders within milliseconds however, there is no exact time frame for order processing. STAGES COMPLETION OF TRANSACTION. When a client makes an order, FXCM first verifies the account for sufficient margin The order is then matched against quotes from liquidity providers A hedge order is then sent to the liquidity provider for execution Finally, the client s order is filled and open closed positions are updated. EXCEPTIONS COMPLETION OF TRANSACTION. There may be exceptions to the typical transaction, such as delays due to abnormal order processing or malfunctions with internal or external processes In such cases, FXCM notifies clients as quickly as possible, depending on the complexity of the issue. FXCM s objective is to notify customers about these types of exceptions as quickly as possible, but the time for notification sometimes depends on the complexity of the issue under review. Trading station If abnormal market order processing occurs, the order will be highlighted in red, and the status column will indicate executed or processing, in the orders window In these instances, the order is in the process of being executed, but is pending until FXCM receives confirmation from the liquidity provider that the quoted prices are still available During periods of heavy trading volume, it is possible that a queue of orders will form That increase in incoming orders may sometimes create conditions where there is a delay from the liquidity providers in confirming certain orders. Metatrader 4 mt4 If abnormal market order processing occurs, the order window would remain open on the trading platform and reflect processing error In these instances, the order is in the process of being executed, but is pending until FXCM receives confirmation from the liquidity provider that the quoted prices are still available During periods of heavy trading volume, it is possible that a queue of orders will form That increase in incoming orders may sometimes create conditions where there is a delay from the liquidity providers in confirming certain orders. RESET ORDERS. Market volatility creates conditions that make it difficult to execute orders at the given price due to an extremely high volume of orders By the time orders are able to be executed, the bid ask price at which FXCM s Trading Desk is willing to take a position may be several pips away. In cases where the liquidity pool is not large enough to fill a Market Range order, the order will not be executed For Limit Entry or Limit orders, the order would not be executed but instead reset until the order can be filled Remember, both Limit Entry and Limit orders guarantee price but do not guarantee execution Depending on the underlying trading strategy and the underlying market conditions traders may be more concerned with execution versus the price received. WIDENED SPREADS. There may be instances when spreads widen beyond the typical spread Spreads are a function of market liquidity and in periods of limited liquidity, at market open, or during rollover at 5 00 PM ET, spreads may widen in response to uncertainty in the direction of prices or to an uptick in market volatility, or lack of market liquidity It is not uncommon to see spreads widen particularly around rollover Trade rollover is typically a very quiet period in the market, since the business day in New York has just ended, and there are still a few hours before the new business day begins in Tokyo Being cognizant of these patterns and taking them into consideration while trading with open orders or placing new trades around these times can improve your trading experience This may occur during news events and spreads may widen su bstantially in order to compensate for the tremendous amount of volatility in the market The widened spreads may only last a few seconds or as long as a few minutes FXCM strongly encourages traders to utilize caution when trading around news events and always be aware of their account equity, usable margin and market exposure Widened spreads can adversely affect all positions in an account including hedged positions discussed below. HANGING ORDERS. During periods of high volume, hanging orders may occur This is a condition where an order is in the process of executing but execution has not yet been confirmed The order will be highlighted in red, and the status column will indicate executed or processing, in the orders window In these instances, the order is in the process of being executed, but is pending During periods of heavy trading volume, it is possible that a queue of orders will form That increase in incoming orders may sometimes create conditions where there is a delay in confir ming certain orders. Depending on the type of order placed, outcomes may vary In the case of a Market Range order that cannot be filled within the specified range, or if the delay has passed, the order will not be executed In the case of an At Market order, every attempt will be made to fill the order at the next available price in the market In both situations, the status column in the orders window will typically indicate executed or processing The trade will simply take a few moments to move to the open positions window Depending upon the order type, the position may in fact have been executed, and the delay is simply due to heavy internet traffic. Keep in mind that it is only necessary to enter any order once Multiple entries for the same order may slow or lock your computer or inadvertently open unwanted positions. If at any time you are unable to access the FXCM Trading Station to manage your account, you may call the Trading Desk directly at 1 212-201-7300 View a full list of inter national contact numbers. GREYED OUT PRICING. Greyed out pricing is a condition that occurs when FXCM s Trading Desk is not actively making a market for particular currency pairs and liquidity therefore decreases FXCM does not intentionally grey out prices however, at times, a severe increase in the difference of the spread may occur due to an announcement that has a dramatic effect on the market that limits liquidity Such greying out of prices or increased spreads may result in margin calls on a traders account When an order is placed on a currency pair affected by greyed out prices, the P L will temporarily flash to zero until the pair has a tradable price and the system can calculate the P L balance. The ability to hedge allows a trader to hold both buy and sell positions in the same currency pair simultaneously Traders have the ability to enter the market without choosing a particular direction for a currency pair Although hedging may mitigate or limit future losses it does not preven t the account from being subjected to further losses altogether In the forex market a trader is able to fully hedge by quantity but not by price This is because of the difference between the buy and sell prices, or the spread Effective, 02 December 2012, FXCM traders will be required to put up margin for one side the larger side of a hedged position Margin requirements can be monitored at all times in the simple dealing rates window While the ability to hedge is an appealing feature, traders should be aware of the following factors that may affect hedged positions. DIMINISHING MARGIN. A margin call may occur even when an account is fully hedged, since spreads may widen, causing the remaining margin in the account to diminish Should the remaining margin be insufficient to maintain any open positions, the account may sustain a margin call, closing out any open positions in the account Although maintaining a long and short position may give the trader the impression that his exposure to the market s movement is limited, if insufficient available margin exists and spreads widen for any period of time, it may certainly result in a margin call on all positions. ROLLOVER COSTS. Rollover is the simultaneous closing and opening of a position at a particular point during the day in order to avoid the settlement and delivery of the purchased currency This term also refers to the interest either charged or applied to a trader s account for positions held overnight, meaning after 5 p m ET on FXCM s Platforms The time at which positions are closed and reopened, and the rollover fee is debited or credited, is commonly referred to as Trade Rollover TRO It is important to note that rollover charges will be higher than rollover accruals When all positions are hedged in an account, although the overall net position may be flat, the account can still sustain losses due to the spread that occurs at the time rollover occurs Spreads during rollover may be wider when compared to other time per iods because of FXCM s Trading Desk momentarily coming offline to settle the day s transactions. EXCHANGE RATE FLUCTUATIONS PIP COSTS. Exchange rate fluctuations, or pip costs, are defined as the value given to a pip movement for a particular currency pair This cost is the currency amount that will be gained or lost with each pip movement of the currency pair s rate and will be denominated in the currency denomination of the account in which the pair is being traded On the FXCM Platforms, the pip cost for all currency pairs can be found by selecting View, followed by Dealing Views, and then by clicking Simple Rates to apply the checkmark next to it If Simple Rates already has a check mark next to it, viewing the dealing rates in the simple view is as easy as clicking the Simple Dealing Rates tab in the dealing rates window Once visible, the simple rates view will display the pip cost on the right-hand side of the window. INVERTED SPREADS. When trading Forex with FXCM s dealing desk executi on model, all quotable prices are provided by our Trading Desk FXCM s Trading Desk may rely on various third party sources for the prices that it makes available to clients In the event that a manifest misquoted price is provided to us from a source that we generally rely on, all trades executed on that manifest misquoted price may be revoked, as the manifest misquoted price is not representative of genuine market activity These manifest misquoted prices can lead to an inversion in the spread. HOLIDAY WEEKEND EXECUTION. TRADING DESK HOURS. The trading desk opens on Sundays between 5 00 PM ET and 5 15 PM ET The trading desk closes on Fridays at 4 55 PM ET Please note that orders placed prior may be filled until 5 00 p m ET and that traders placing trades between 4 55 p m and 5 00 p m ET may be unable to cancel orders pending execution In the event that a Market GTC Order is submitted right at market close, the possibility exists that it may not be executed until Sunday market open Please u se caution when trading around Friday s market close and factor all the information described above into any trading decision The open or close times may be altered by the Trading Desk because it relies on prices being offered by third party sources Outside of these hours, most of the major world banks and financial centres are closed The lack of liquidity and volume during the weekend impedes execution and price delivery. PRICES UPDATING BEFORE THE OPEN. Shortly prior to the open, the Trading Desk refreshes rates to reflect current market pricing in preparation for the open At this time, trades and orders held over the weekend are subject to execution Quotes during this time are not executable for new market orders After the open, traders may place new trades, and cancel or modify existing orders. Sunday s opening prices may or may not be the same as Friday s closing prices At times, the prices on the Sunday open are near where the prices were on the Friday close At other times, there ma y be a significant difference between Friday s close and Sunday s open The market may gap if there is a significant news announcement or an economic event changing how the market views the value of a currency Traders holding positions or orders over the weekend should be fully comfortable with the potential of the market to gap. ORDER EXECUTION. Limit orders are often filled at the requested price or better If the price requested or a better price is not available in the market, the order will not be filled If the requested price of a Stop order is reached at the open of the market on Sunday, the order will become a Market order Limit Entry orders are filled the same way as Limit orders Stop Entry orders are filled the same way as Stops. WEEKEND RISK. Traders who fear that the markets may be extremely volatile over the weekend, that gapping may occur, or that the potential for weekend risk is not appropriate for their trading style, may simply close out orders and positions ahead of the we ekend It is imperative that traders who hold open positions over the weekend understand that the potential exists for major economic events and news announcements to affect the value of your underlying positions Given the volatility expressed in the markets it is not uncommon for prices to be a number of pips away on market open from market close We encourage all traders to take this into consideration before making a trading decision. MARGIN CALLS AND CLOSE OUTS. Margin calls are triggered when your usable margin falls below zero This occurs when your floating losses reduce your account equity to a level that is less than your margin requirement Therefore, the result of any margin call is subsequent liquidation unless otherwise specified. The idea of margin trading is that your margin acts as a good faith deposit to secure the larger notional value of your position Margin trading allows traders to hold a position much larger than the actual account value FXCM s Trading Station has margin management capabilities, which allow for the use of leverage Of course, trading on margin comes with risk as leverage may work against you as much as it works for you If account equity falls below margin requirements, the FXCM Trading Station will trigger an order to close all open positions When positions have been over-leveraged or trading losses are incurred to the point that insufficient equity exists to maintain current open positions and the account s usable margin falls below zero, a margin call will result and all open positions will be closed out liquidated. Please keep in mind that when the account s usable margin falls below zero, all open positions are triggered to close The liquidation process is designed to be entirely electronic. Although the margin call feature is designed to close positions when account equity falls below the margin requirements, there may be instances when liquidity does not exist at the exact margin call rate As a result, account equity can fall below margin requirements at the time orders are filled, even to the point where account equity becomes negative FXCM recommends that traders use Stop orders to limit downside risk in lieu of using a margin call as a final stop. It is strongly advised that clients maintain the appropriate amount of margin in their accounts at all times Margin requirements may be changed based on account size, simultaneous open positions, trading style, market conditions, and at the discretion of FXCM. METATRADER 4.Please note that MT4 users are subject to different margin call procedures When a margin call is triggered on the account individual positions will be liquidated until the remaining equity is sufficient to support existing position s In deciding what positions will be individually liquidated the largest losing position will be closed first during liquidation. CHART PRICING VS PRICES DISPLAYED ON THE PLATFORM. It is important to make a distinction between indicative prices displayed on charts and deala ble prices displayed on the platforms, such as Trading Station and MetaTrader 4 Indicative quotes are those that offer an indication of the prices in the market, and the rate at which they are changing These prices are derived from a host of contributors such as banks and clearing firms, which may or may not reflect where FXCM s liquidity providers are making prices Indicative prices are usually very close to dealing prices, but they only give an indication of where the market is Executable quotes ensure finer execution and thus a reduced transaction cost Because the spot forex market lacks a single central exchange where all transactions are conducted, each forex dealer may quote slightly different prices Therefore, any prices displayed by a third party charting provider, which does not employ the market maker s price feed, will reflect indicative prices and not necessarily actual dealing prices where trades can be executed. MOBILE TRADING PLATFORMS. There are a series of inherent risks with the use of the mobile trading technology such as the duplication of order instructions, latency in the prices provided, and other issues that are a result of mobile connectivity Prices displayed on the mobile platform are solely an indication of the executable rates and may not reflect the actual executed price of the order. Mobile TS II utilizes public communication network circuits for the transmission of messages FXCM shall not be liable for any and all circumstances in which you experience a delay in price quotation or an inability to trade caused by network circuit transmission problems or any other problems outside the direct control of FXCM Transmission problems include but are not limited to the strength of the mobile signal, cellular latency, or any other issues that may arise between you and any internet service provider, phone service provider, or any other service provider. It is strongly recommended that clients familiarise themselves with the functionality of the FXCM Mobile Trading Station prior to managing a live account via portable device. TS MOBILE TABLET APPLICATION. FXCM s Trading Station Web platform has been modified to run on mobile and tablet devices The mobile platform for tablets is called Trading Station Mobile and has the same trading features as Trading Station Web The same connectivity risks described above regarding our Mobile TS II apply to use with any application made available for tablet trading. CFD Execution. HIGH RISK INVESTMENT. Trading Contracts for Difference CFD S on margin carries a high level of risk, and may not be suitable for all investors Before deciding to trade these products offered by Forex Capital Markets, Limited FXCM you should carefully consider your objectives, financial situation, needs and level of experience Forex Capital Markets, Limited is authorised and regulated by the UK Financial Conduct Authority FCA Registration No 217689 FXCM maintains its registered office at Northern and Shell Building, 10 Lower Thames Street, 8th Floor, London EC3R 6AD FXCM may provide general commentary without regard to your objectives, financial situation or needs General advice given, or the content of this website are not intended to be personal advice and should not be construed as such The possibility exists that you could sustain a loss in excess of your deposited funds You should be aware of all the risks associated with trading on margin FXCM recommends you seek advice from an independent financial advisor. FXCM MARKET OPINIONS. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary, and does not constitute investment advice FXCM will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. INTERNET TRADING RISKS. There are risks associated with utilising an internet-based deal-execution trading syste m including, but not limited to, the failure of hardware, software, and internet connection Since FXCM does not control signal power, its reception or routing via the internet, configuration of your equipment or reliability of its connection, we cannot be responsible for communication failures, distortions or delays when trading via the internet FXCM employs backup systems and contingency plans to minimise the possibility of system failure, which includes allowing clients to trade via telephone. CFD EXECUTION MODEL. Contract for Difference products are generally subject to dealing desk execution FXCM reserves the right to switch a client s execution to No Dealing Desk without prior consent from client, for any reason, including but not limited to, the product being traded, trading style of client, or volume traded FXCM does not generally execute CFD orders with an external counterparty FXCM is the final counterparty for most CFD positions which you undertake Please note that as the final counterparty FXCM may receive compensation beyond our standard fixed mark-up FXCM makes prices for the CFD instruments it offers to its clients Although these prices may be indicative of the underlying market for the product being traded, they do not represent the actual prices of the underlying asset on the physical market or exchange where it is listed. As dealer, FXCM accumulates exposure for the products we deal to you As such, FXCM may take steps to mitigate risk accumulated during the market making process Therefore, FXCM provides automatic execution of all orders submitted for execution up to a certain amount In the event that you exhibit behaviours that prevent FXCM from mitigating exposure, we may, in our sole discretion remove you from participation of auto execution Removal from auto execution means that each order will be confirmed by a dealer before it is processed to ensure that we are able to mitigate any market risk. In the case that FXCM provides execution for CFD s thr ough a straight through processing, or No Dealing Desk execution model, FXCM passes on to its clients the best prices that are provided by one of FXCM s liquidity providers with a fixed mark-up for each product In this model, FXCM does not act as a market marker and is reliant on liquidity providers for pricing and there are certain limitations to liquidity that can affect the final execution of your order. For more information on the CFD execution model, read the CFD FAQs. FXCM aims to provide clients with the best execution available and to get all orders filled at the requested rate However, there are times when, due to an increase in volatility or volume, orders may be subject to slippage Slippage most commonly occurs during fundamental news events or periods of limited liquidity Instances such as trade rollover 5pm EST is a known period in which the amount of liquidity tends to be limited as many liquidity providers settle transactions for that day For more information on why rollov er occurs, see the section on Rollover Costs During periods such as these, your order type, quantity demanded, and specific order instructions can have an impact on the overall execution you receive. Examples of specific order instructions include. Good Til Cancelled GTC Orders - Your entire order will be filled at the next available price s at the time it is received. Immediate or Cancel IOC Orders - All or part of your order will be filled at the next available price with the remaining amount cancelled should liquidity not exist to fill your order immediately. Fill or Kill FOK Orders - The order must be filled in its entirety or not at all. The volatility in the market may create conditions where orders are difficult to execute For instance, the price you receive in the execution of your order might be many pips away from the selected or quoted price due to market movement In this scenario, the trader is looking to execute at a certain price but in a split second, for example, the market may have moved significantly away from that price The trader s order would then be filled at the next price available price for that specific order Similarly, given FXCM s models for execution, sufficient liquidity must exist to execute all trades at any price. FXCM provides a number of basic and advanced order types to help clients mitigate execution risk One way to mitigate the risk associated with slippage is to utilize the Market Range Max Deviation for MT4 users feature on FXCM s Platforms The Market Range feature allows traders to specify the amount of potential slippage they are willing to accept on a market order by defining a range Zero indicates that no slippage is permitted By selecting zero on the Market Range, the trader is requesting his order to be executed only at the selected or quoted price, not any other price Traders may elect to accept a wider range of permissible slippage to raise the probability of having their order s executed In this scenario the order will be f illed at the best price available within the specified range For instance, a client may indicate that he is willing to be filled within 2 pips of his requested order price The system would then fill the client within the acceptable range in this instance, 2 pips if sufficient liquidity exists If the order cannot be filled within the specified range, the order will not be filled Please note, Market Range orders specify a negative range only If a more preferential rate is available at the time of execution traders are not limited by the specified range for the amount of positive price improvement they can receive. Additionally, when triggered, stop orders become a market order available for execution at the next available market price Stop orders guarantee execution but do not guarantee a particular price Therefore, stop orders may incur slippage depending on market conditions. When trading Forex via FXCM s dealing desk execution model, FXCM is the final counterparty to these transactions Therefore, FXCM is providing all liquidity for all currency prices it extends to its clients while dealing as counterparty FXCM is able to make auto execution available by limiting the max trade size of all orders to 2 million per trade. In addition to the order type, a trader must consider the availability of the instrument prior to making any trading decision As in all financial markets, some instruments within that market will have greater depth of liquidity than others Ample liquidity allows the trader to seamlessly enter or exit positions, near immediacy of execution, and minimal slippage during normal market conditions However, certain products have more liquid markets than others. DELAYS IN EXECUTION. A delay in execution may occur for various reasons, such as technical issues with the trader s internet connection to FXCM or by a lack of available liquidity for the instrument that the trader is attempting to trade Due to inherent volatility in the markets, it is imperative that tra ders have a working and reliable internet connection There are circumstances when the trader s personal internet connection may not be maintaining a constant connection with the FXCM servers due to a lack of signal strength from a wireless or dialup connection A disturbance in the connection path can sometimes interrupt the signal and disable the FXCM Trading Station, causing delays in the transmission of data between the trading station and the FXCM server One way to check your internet connection with FXCMs server is to ping the server from your computer. TIMEFRAME COMPLETION OF TRANSACTION. FXCM endeavours to process orders within milliseconds however, there is no exact time frame for order processing. STAGES COMPLETION OF TRANSACTION. With DD Execution, when a client makes an order, FXCM can match against quotes from liquidity providers A hedge order can be sent to the liquidity provider for execution Finally, the client s order is filled and open closed positions are updated. With DD E xecution, FXCM can hedge an order against current exposure or fill it in with our own liquidity book. EXCEPTIONS COMPLETION OF TRANSACTION. There may be exceptions to the typical transaction, such as delays due to abnormal order processing or malfunctions with internal or external processes In such cases, FXCM notifies clients as quickly as possible, depending on the complexity of the issue. FXCM s objective is to notify customers about these types of exceptions as quickly as possible, but the time for notification sometimes depends on the complexity of the issue under review. Trading station If abnormal market order processing occurs, the order will be highlighted in red, and the status column will indicate executed or processing, in the orders window In these instances, the order is in the process of being executed, but is pending until FXCM receives confirmation from the liquidity provider that the quoted prices are still available During periods of heavy trading volume, it is possible that a queue of orders will form That increase in incoming orders may sometimes create conditions where there is a delay from the liquidity providers in confirming certain orders. Metatrader 4 mt4 If abnormal market order processing occurs, the order window would remain open on the trading platform and reflect processing error In these instances, the order is in the process of being executed, but is pending until FXCM receives confirmation from the liquidity provider that the quoted prices are still available During periods of heavy trading volume, it is possible that a queue of orders will form That increase in incoming orders may sometimes create conditions where there is a delay from the liquidity providers in confirming certain orders. RESET ORDERS. Market volatility creates conditions that make it difficult to execute orders at the given price due to an extremely high volume of orders By the time orders are able to be executed, the bid ask price may be several pips away. There may be cases where a Market Range order is not executed due to a lack of liquidity or the inability to act as counterparty to your trade For Limit Entry or Limit orders, the order would not be executed but instead reset until the order can be filled Remember, both Limit Entry and Limit orders guarantee price but do not guarantee execution Depending on the underlying trading strategy and the underlying market conditions traders may be more concerned with execution versus the price received. Depending on the type of order placed, outcomes may vary In the case of a Market Range order that cannot be filled within the specified range, or if the delay has passed, the order will not be executed In the case of an At Market order, every attempt will be made to fill the order at the next available price in the market In both situations, the status column in the orders window will typically indicate executed or processing The trade will simply take a few moments to move to the open positions window Depen ding upon the order type, the position may in fact have been executed, and the delay is simply due to heavy internet traffic. Keep in mind that it is only necessary to enter any order once Multiple entries for the same order may slow or lock your computer or inadvertently open unwanted positions. If at any time you are unable to access the FXCM Trading Station to manage your account, you may call the Trading Desk directly at 1 212-201-7300 View a full list of international contact numbers. GREYED OUT PRICING. Greyed out pricing is a condition that occurs when FXCM s Trading Desk or liquidity provider that supplies pricing to FXCM is not actively making a market for particular instruments and liquidity therefore decreases FXCM does not intentionally grey out prices however, at times, a severe increase in the difference of the spread may occur due to an announcement that has a dramatic effect on the market that limits liquidity Such greying out of prices or increased spreads may result in ma rgin calls on a traders account When an order is placed on an instrument affected by greyed out prices, the P L will temporarily flash to zero until the pair has a tradable price and the system can calculate the P L balance. The ability to hedge allows a trader to hold both buy and sell positions in the same instrument simultaneously Traders have the ability to enter the market without choosing a particular direction Although hedging may mitigate or limit future losses it does not prevent the account from being subjected to further losses altogether FXCM traders are required to put up margin for one side the larger side of a hedged position Margin requirements can be monitored at all times in the simple dealing rates window While the ability to hedge is an appealing feature, traders should be aware of the following factors that may affect hedged positions. DIMINISHING MARGIN. A margin call may occur even when an account is fully hedged, since spreads may widen, causing the remaining margi n in the account to diminish Should the remaining margin be insufficient to maintain any open positions, the account may sustain a margin call, closing out any open positions in the account Although maintaining a long and short position may give the trader the impression that his exposure to the market s movement is limited, if insufficient available margin exists and spreads widen for any period of time, it may certainly result in a margin call on all positions. ROLLOVER COSTS. Rollover is the simultaneous closing and opening of a position at a particular point during the day in order to avoid the settlement and delivery of the purchased currency This term also refers to the interest either charged or applied to a trader s account for positions held overnight, meaning after 5 p m ET on FXCM s Platforms The time at which positions are closed and reopened, and the rollover fee is debited or credited, is commonly referred to as Trade Rollover TRO It is important to note that rollover charg es will be higher than rollover accruals When all positions are hedged in an account, although the overall net position may be flat, the account can still sustain losses due to the spread that occurs at the time rollover occurs Spreads during rollover may be wider when compared to other time periods because of FXCM s Trading Desk or liquidity providers momentarily coming offline to settle the day s transactions. EXCHANGE RATE FLUCTUATIONS PIP COSTS. Exchange rate fluctuations, or pip costs, are defined as the value given to a pip movement for a particular instrument This cost is the currency amount that will be gained or lost with each pip movement of the instrument s rate and will be denominated in the currency denomination of the account in which the pair is being traded On the FXCM Platforms, the pip cost can be found by selecting View, followed by Dealing Views, and then by clicking Simple Rates to apply the checkmark next to it If Simple Rates already has a check mark next to it, vi ewing the dealing rates in the simple view is as easy as clicking the Simple Dealing Rates tab in the dealing rates window Once visible, the simple rates view will display the pip cost on the right-hand side of the window. INVERTED SPREADS. FXCM s Trading Desk may rely on various third party sources for the prices that it makes available to clients In the event that a manifest misquoted price is provided to us from a source that we generally rely, all trades executed on that manifest misquoted price may be revoked, as the manifest misquoted price is not representative of genuine market activity These manifest misquoted prices can lead to an inversion in the spread. HOLIDAY WEEKEND EXECUTION. TRADING DESK HOURS. The hours for each CFD are determined by FXCM s Trading Desk based on the schedule for trading on the exchange for the underlying market, commodity, or asset. Please refer to the CFD Product Guide for specific hours for each instrument. FXCM aims to open markets as close to the posted trading hours as possible However, liquidity at or around market open close for any CFD instrument can be very thin FXCM may delay market open on specific instruments by several minutes to protect clients from quoted prices that are not representative of the true market price Traders are advised to use extreme caution during these periods and to utilize FXCM s basic and advanced orders types to mitigate execution risk Based on the illiquidity illustrated during these time periods traders using market orders can experience slippage, or gapping in prices that can have a material impact on your final execution price. PRICES UPDATING BEFORE THE OPEN. Shortly prior to the open, the Trading Desk refreshes rates to reflect current market pricing in preparation for the open At this time, trades and orders held over the weekend are subject to execution Quotes during this time are not executable for new market orders After the open, traders may place new trades, and cancel or modify existing order s. There is a substantial risk that stop-loss orders left to protect open positions held overnight may be executed at levels significantly worse than their specified pricemensurate with the opening closing of the market for the underlying instrument, CFD traders may experience gaps in market prices Due to the volatility expressed during these time periods, trading at the open or at the close, can involve additional risk and must be factored into any trading decision These time periods are specifically mentioned because they are associated with the lowest levels of market liquidity and can be followed by significant movements in prices for both the CFD, and the underlying instrument. ORDER EXECUTION. Limit orders are often filled at the requested price or better If the price requested or a better price is not available in the market, the order will not be filled If the requested price of a Stop order is reached at the open of the market on Sunday, the order will become a Market order Limit Entry orders are filled the same way as Limit orders Stop Entry orders are filled the same way as Stops. WEEKEND RISK. Traders who fear that the markets may be extremely volatile over the weekend, that gapping may occur, or that the potential for weekend risk is not appropriate for their trading style, may simply close out orders and positions ahead of the weekend It is imperative that traders who hold open positions over the weekend understand that the potential exists for major economic events and news announcements to affect the value of your underlying positions Given the volatility expressed in the markets it is not uncommon for prices to be a number of pips away on market open from market close We encourage all traders to take this into consideration before making a trading decision. MARGIN CALLS AND CLOSE OUTS. Margin calls are triggered when your usable margin falls below zero This occurs when your floating losses reduce your account equity to a level that is less than your margin requirement Therefore, the result of any margin call is subsequent liquidation unless otherwise specified. FXCM process all liquidations for CFD products automatically Open and close times for the underlying reference market are determined by the exchange, or third party execution venue, and not by FXCM If the client s liquidation event is triggered during the period when the underlying reference market is closed, it may be necessary for the FXCM Trading Desk to wait until the underlying reference market re-opens before liquidation of the CFD positions can be finalized Depending on market conditions, this could mean that the final price the client receives is a significant number of points away from the price that triggered the client s liquidation If the clients account contains open positions for both CFD and forex at the time liquidation is triggered it is possible that only the client s forex positions will be liquidated This would only occur in situations where the underlying refe rence market for the client s CFD positions is closed, and the liquidation of the client s forex positions satisfies the liquidation requirement. METATRADER 4.Please note that MT4 users are subject to different margin call procedures When a margin call is triggered on the account individual positions will be liquidated until the remaining equity is sufficient to support existing position s In deciding what positions will be individually liquidated the largest losing position will be closed first during liquidation. CHART PRICING VS PRICES DISPLAYED ON THE PLATFORM. It is important to make a distinction between indicative prices displayed on charts and dealable prices displayed on the platforms, such as Trading Station and MetaTrader 4 Indicative quotes are those that offer an indication of the prices in the market, and the rate at which they are changing These prices are derived from a host of contributors such as banks and clearing firms, which may or may not reflect where FXCM s liquidi ty providers are making prices Indicative prices are usually very close to dealing prices, but they only give an indication of where the market is Executable quotes ensure finer execution and thus a reduced transaction cost Because the spot forex market lacks a single central exchange where all transactions are conducted, each forex dealer may quote slightly different prices Therefore, any prices displayed by a third party charting provider, which does not employ the market maker s price feed, will reflect indicative prices and not necessarily actual dealing prices where trades can be executed. MOBILE TRADING PLATFORMS. There are a series of inherent risks with the use of the mobile trading technology such as the duplication of order instructions, latency in the prices provided, and other issues that are a result of mobile connectivity Prices displayed on the mobile platform are solely an indication of the executable rates and may not reflect the actual executed price of the order. Mobile TS II utilizes public communication network circuits for the transmission of messages FXCM shall not be liable for any and all circumstances in which you experience a delay in price quotation or an inability to trade caused by network circuit transmission problems or any other problems outside the direct control of FXCM Transmission problems include but are not limited to the strength of the mobile signal, cellular latency, or any other issues that may arise between you and any internet service provider, phone service provider, or any other service provider. Please note some features of the FXCM Trading Station will not be available on the FXCM Mobile Trading Station Key differences include, but are not limited to, charting packages, daily interest rolls will not appear, and the maintenance margin requirement per financial instrument will not be available It is strongly recommended that clients familiarise themselves with the functionality of the FXCM Mobile Trading Station prior to ma naging a live account via portable device. TS MOBILE TABLET APPLICATION. FXCM s Trading Station Web platform has been modified to run on mobile and tablet devices The mobile platform is called Trading Station Mobile With the exception of OCO orders one-cancels-other , Trading Station Mobile for tablet devices has the same trading features as Trading Station Web The same connectivity risks described above regarding our Mobile TS II apply to use with any application made available for tablet trading. FXCM MetaTrader 4 Execution. Individuals should review the information below carefully which details the differences regarding execution, trading features, and platform settings specific to the FXCM MT4 platform. Trade Execution. Orders to open and close trades, as well as take profit TP orders execute Fill or Kill These orders only execute if they can fill in their entirety at the requested price These orders cannot be broken up and filled at multiple prices. In the event that sufficient liquidity is not immediately available to execute a Fill or Kill order in its entirety, execution ceases. Stop Loss SL orders, and orders submitted due to margin call do not execute Fill or Kill These orders do fill in their entirety at the same price however, execution will not cease if sufficient liquidity is not immediately available Execution will continue until a price becomes available to fill the entire order. The maximum number of open orders is capped at 500 individual orders per account This restriction includes both open orders and pending orders The MT4 platform will display an error message if traders attempt to open more than 500 individual orders Stop Losses and Take Profits are exempt from this restriction. Margin Call. The margin call policy for FXCM MetaTrader 4 accounts is different from all other FXCM accounts When a margin call occurs, trades will be closed one by one until Free Margin is greater than zero. Interest rates are not displayed on the MetaTrader 4 Platform however, t raders will pay or accrue interest in accordance with the current FXCM rates To obtain the rollover rates traders can view them on the FXCM Trading Station II platform or call FXCM customer service for current rates Please be advised that interest rates are provided to FXCM by multiple liquidity providers Every effort is made to display rollover rates one day in advance on the FXCM Trading Station II However, during times of extreme market volatility, rates may change intraday. Any positions that are open at 5 p m ET sharp are considered to be held overnight, and are subject to rollover A position opened at 5 01 p m is not subject to rollover until the next day, while a position opened at 4 59 p m is subject to rollover at 5 p m ET. Expert Advisor. Expert Advisor s EA are automated trading tools that can perform all or part of a trading strategy While FXCM offers proprietary EAs, there are others developed by third parties FXCM does not vouch for the accuracy or reliability provided by th e EAs not in its control Traders utilizing an EA do so at their own risk Additionally, many EA s employ the use of micro lots and do not account for fractional pip pricing On the FXCM MetaTrader 4 platform the smallest lot size increment is 1k and fractional pips are used Prior to trading, please contact your EA provider to discuss the lot sizes used in the program and any potential issues that may arise from fractional pip pricing. Max Deviation. With FXCM MetaTrader 4, all orders execute using instant execution This MetaTrader 4 execution type enables the maximum deviation max deviation feature. The maximum deviation feature was designed to control slippage - both negative and positive - in the following way When creating an order, a number is specified in tenths of a pip 0 in the max deviation field This number is the maximum amount of slippage the order can receive If the market price moves beyond this amount while the order is executing, the order will cancel automatically This is ho w the maximum deviation feature was designed to function. FXCM trading policy allows for unlimited positive slippage on all order types Therefore, FXCM has developed a way to override the restriction that the maximum deviation feature places on positive slippage All orders placed on the FXCM MetaTrader 4 platform fill with the greatest amount of positive slippage possible. In the event that an order fills with positive slippage beyond the maximum deviation the platform logs a message in the Journal tab The message has the following format - Positive Slippage - is the positive slippage the order received beyond the maximum deviation. If the market price moves negatively beyond the maximum deviation, the order cancels automatically When this occurs, an Off Quotes message is displayed This is a standard MetaTrader 4 message notifying the user that an order canceled because the market price deviated beyond the order setting. Please note dependent upon market conditions, a lower maximum deviati on amount can increase the likelihood that an order will be rejected due to the market price moving outside of the maximum deviation. Pending Orders. You cannot use a pending order to close a trade or a portion of it Pending orders can only be used to open new trades For example, assume that an account is long 0 2 EUR USD A trader then creates a pending order to sell 0 1 EUR USD If the pending order price is reached, the order will trigger for execution However, because the pending order is attempting to trade in the opposite direction of the existing long trade, the pending order will automatically cancel, leaving the long trade unaffected. When closing a trade, MetaTrader 4 users can use stop loss and take profit orders as an alternative to pending orders. Cross-Platform Compatibility. FXCM MetaTrader 4 login credentials grant a user with access to the FXCM Trading Station platforms Therefore, FXCM MetaTrader 4 account holders can place and manage trades and orders through the FXCM Tradin g Station platforms Account details for retail clients e g orders, trades, P L, margin, equity will match on all of these platforms and their statement of records However, please note that some functionality available on the FXCM Trading Station platforms may not be available on the FXCM MetaTrader 4 platform. FXCM MetaTrader 4.FXCM MetaTrader 4 allows for order sizes up to 50 million per trade Traders have the ability to trade incremental sizes multiple orders of 50 million for the same pair The FXCM MetaTrader 4 Platform does not show pip costs The potential exists for variations in pricing displayed between servers These differences do not have an impact on prices available for execution but can impact the prices used to trigger resting orders. FXCM MetaTrader 4 Server Information. Under rare circumstances it may be necessary to type in a server address when logging into FXCM MetaTrader 4 A list of FXCM s MT4 server names and addresses has been provided below So long as you download FX CM MetaTrader 4 here and install it on your computer or VPS, you will not need these server addresses. If you need to enter the server address when logging in, be sure to use the one that corresponds to the server name that your account is assigned to As an example, if your account s server name is MT4USDREAL01, you would use. TIMEFRAME COMPLETION OF TRANSACTION. FXCM endeavours to process orders within milliseconds however, there is no exact time frame for order processing. STAGES COMPLETION OF TRANSACTION. With DD Execution, when a client makes an order, FXCM can match against quotes from liquidity providers A hedge order can be sent to the liquidity provider for execution Finally, the client s order is filled and open closed positions are updated. With DD Execution, FXCM can hedge an order against current exposure or fill it in with our own liquidity book. EXCEPTIONS COMPLETION OF TRANSACTION. There may be exceptions to the typical transaction, such as delays due to abnormal order processin g or malfunctions with internal or external processes In such cases, FXCM notifies clients as quickly as possible, depending on the complexity of the issue. FXCM s objective is to notify customers about these types of exceptions as quickly as possible, but the time for notification sometimes depends on the complexity of the issue under review. Trading station If abnormal market order processing occurs, the order will be highlighted in red, and the status column will indicate executed or processing, in the orders window In these instances, the order is in the process of being executed, but is pending until FXCM receives confirmation from the liquidity provider that the quoted prices are still available During periods of heavy trading volume, it is possible that a queue of orders will form That increase in incoming orders may sometimes create conditions where there is a delay from the liquidity providers in confirming certain orders. Metatrader 4 mt4 If abnormal market order processing occu rs, the order window would remain open on the trading platform and reflect processing error In these instances, the order is in the process of being executed, but is pending until FXCM receives confirmation from the liquidity provider that the quoted prices are still available During periods of heavy trading volume, it is possible that a queue of orders will form That increase in incoming orders may sometimes create conditions where there is a delay from the liquidity providers in confirming certain orders. Risk Warning Our service includes products that are traded on margin and carry a risk of losses in excess of your deposited funds The products may not be suitable for all investors Please ensure that you fully understand the risks involved. High Risk Investment Warning Trading foreign exchange and or contracts for differences on margin carries a high level of risk, and may not be suitable for all investors The possibility exists that you could sustain a loss in excess of your deposite d funds Before deciding to trade the products offered by FXCM you should carefully consider your objectives, financial situation, needs and level of experience You should be aware of all the risks associated with trading on margin FXCM provides general advice that does not take into account your objectives, financial situation or needs The content of this Website must not be construed as personal advice FXCM recommends you seek advice from a separate financial advisor. Please click here to read full risk warning. Forex Capital Markets Limited FXCM LTD is an operating subsidiary within the FXCM group of companies collectively, the FXCM Group All references on this site to FXCM refer to the FXCM Group. Forex Capital Markets Limited is authorised and regulated in the United Kingdom by the Financial Conduct Authority Registration number 217689.Tax Treatment The UK tax treatment of your financial betting activities depends on your individual circumstances and may be subject to change in the fu ture, or may differ in other jurisdictions. Copyright 2017 Forex Capital Markets All rights reserved. Northern Shell Building, 10 Lower Thames Street, 8th Floor, London EC3R 6AD Company incorporated in England Wales No 04072877 with registered office as above. We use cookies to enhance the performance and functionality of our site, which ultimately improves your browsing experience By continuing to browse this site you are agreeing to our use of cookies You may change your cookie settings at any time Learn More. Your browser is out of date.