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The
main screen appears after the trader logs into the online trading platform. All
vital information about the trader account is visible on the main screen, including
active orders, open positions, and available margin.
Live quotes in 17 currency pair appear in the Dealing Rates window. Traders are able to execute trades directly from the displayed quotes. To place a market order, the trader clicks with the left mouse button on desired rate. If the trader believes that the exchange rate will become greater, then the trader would click on the BUY exchange rate located to the right of the SELL exchange rate. On the other hand, the trader can click on the SELL exchange rate in expectation of the rate moving lower. In foreign exchange, there are no restrictions on short selling. Trader is about to place an order to buy euros at the exchange rate of 0.8574 After a trader clicks with the left mouse button on an exchange rate, the Market Order box appears. The trader specifies the size of trade, inputting the currency pair, whether to BUY or Sell, and the number of lots. The trader must maintain $50 in margin for every increment of 10,000. For example, if the trader has 50,000 in open positions, the trader would have $250 in used margin. The trader can send the order for execution by pressing OK or can CANCEL the order. Trader has input the amount of trade, 10,000, which is 10,000 euros. Within seconds, a confirmation of the execution will appear in the Open Positions window. Each open position has a unique ticket number and appears on a separate line. Detailed information is displayed on each position, including up to the second P/L in terms of pips. Traders can place through the Open Positions window, Stop/Loss and Limit orders on each individual position. To place a Stop/Loss or Limit Order, click with left mouse button on the box that appears under the Stop or Limit columns. | ||
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A Stop/Limit box will appear. The trader will then set the desired rate for Stop/Loss or Limit/Orders. Once the market hits the limit exchange rate or moves through the Stop/Loss exchange rate, the position will be closed. If the trader has set both a Stop/Loss and Limit Order on a position, the execution of one of the orders will cancel the other order. Trader is placing a stop-loss order at 0.8500 and limit order at 0.8600 on the 10,000 euro position. To close a position, the trader clicks with the left mouse button on the exchange rate under the Close column in the Open Positions window. The Close Position window will appear giving the trader the opportunity to close part or the entire position. After the trader clicks on OK, the information in the Open Positions window will be modified. | ||
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Vital information including account equity, balance, usable margin is displayed in the Account Information Window. All information is updated in real-time based on the market exchange rates, enabling the trader to quickly and accurately assess the status of the account. After taking profits, the (account) Balance and Usable Margin increase. The Used Margin decreases. | ||
