विश्व की विश्वसनीय मुद्रा प्राधिकरण। उत्तरी अमेरिकी संस्करण। डॉलर न्यूयॉर्क के इंटरबैंक में खुल रहा था, जो उस दिन यिन, यूरो और कनाडाई डॉलर से बना था, जबकि स्टर्लिंग और ऑस्ट्रेलियाई डॉलर के बीच मध्यम नुकसान दिख रहा था। ग्लोबल स्टॉक में घोषणा रैली और अधिक पढ़ें 2011-07-03-17 11 14 यूटीसी। यूरोपीय संस्करण। डच चुनाव में यूरो-विरोधी आंदोलन के किक-डाउन के मद्देनजर यूरोपीय संघ काफी हद तक कमजोर रहा है और ईसीबी के सदस्य अबोटॉनी ने कहा कल देर से कि जमा की दर रेपो दर से पहले बढ़ा दी जा सकती है अब नोटीनी की टिप्पणियां और पढ़ें .2017-03-27 08 38 यूटीसी। एशियाियन संस्करण। एफएक्स व्यापार शुक्रवार को NY व्यापार में थोड़ी सी सांस ले चुका था, जो कि ज्यादातर प्रमुख डॉलर के साथ जोड़े ने डॉलर के मुकाबले पहले अमरीक डॉलर की हानि को मजबूत कर रखा था जो ज्यादातर दिशा में था, जैसा कि डीएक्सवाई इनकमिंग में करीब अपरिवर्तित करीब से देखा गया और अधिक पढ़ें .2017-03-17 18 23 यूटीसी। यह विदेशी मुद्रा जोड़ी अमेरिकी डॉलर का प्रतिनिधित्व करता है - हंगरी के फ़ॉरिंट क्रॉस जोड़ी एम इनिंग और मेटलर्जिजी हंगरी में बड़े उद्योग हैं, जबकि अर्थव्यवस्था 50 से अधिक निर्यात के बारे में मशीनरी और उपकरणों के निर्यात पर निर्भर करती है इसके विपरीत, अमेरिकी डॉलर विश्व की शीर्ष आरक्षित मुद्रा है, इस मुद्रा के साथ एक विशिष्ट अमेरिकी-यूरोपीय संबंध को उधार देने वाला अमेरिकी डॉलर एचयूएफ का पांचवें वर्षों में -0 5 से -0 9 तक 60-दिन के संबंधों के साथ EURUSD के साथ एक महत्वपूर्ण नकारात्मक संबंध है। माइकल रोमेरो द्वारा। एचयूएफ फॉल्स निम्न सीपीआई घोषणा जारी रखें। माइकल रोमेरो द्वारा। माइकल रोमेरो। द्वारा माइकल रोमेरो। वॉकर इंग्लैंड और कारा डाईली द्वारा। आपके अनुरोध के लिए धन्यवाद। आपको शीघ्र ही ईमेल द्वारा अपना पूर्वानुमान प्राप्त होगा। एक वास्तविक एफ पूर्वानुमान पी पिछला। एडीआईएलएक्सएक्स प्लस. पिटल प्रदर्शन भविष्य के परिणामों का कोई संकेत नहीं है। दैनिक फ़ाक्स समाचार और शिक्षा वेबसाइट है आईजी समूह की। एक्सच्युचर रिस्क। इन युग्मों में उनके साथ जुड़े जोखिम का एक स्तर है जो निहित नहीं हो सकता है इन मुद्राओं के लिए बाजार बहुत तरल है, जिसके चलते तरलता को बनाए रखा जाता है और एक द्वारा प्रदान किया जाता है, या कुछ बाह्य स्रोत ये तरलता चिंताओं में शामिल हैं, लेकिन सीमित नहीं हैं, बाज़ार गतिविधि की कमी के आधार पर पदों को बाहर करने की अक्षमता, उद्धृत कीमतों में अंतर और अंतिम निष्पादन, या निष्पादन में विलंब होने पर आपके विशिष्ट लेनदेन के लिए एक काउंटरपार्टी की पहचान की जाती है। इन विचारों को ध्यान में रखते हुए यह आवश्यक है कि किसी व्यापारी को किसी भी कारोबारी फैसले में यह कारक होता है इस कारण से हम सभी व्यापारियों को इन जोखिमों को कम करने के लिए उन्नत आदेश प्रकारों का उपयोग करने के लिए जोरदार प्रोत्साहन देते हैं। निष्पादन में देरी FXCM के उपयोग से हो सकती है कोई डीलिंग डेस्क विदेशी मुद्रा विभिन्न कारणों के लिए निष्पादन मॉडल, जैसे कि एफएक्ससीएम से व्यापारी के इंटरनेट कनेक्शन के साथ तकनीकी समस्याएं, तरलता प्रदाता से पुष्टि में देरी या मुद्रा जोड़ी के लिए उपलब्ध तरलता की कमी से है कि व्यापारी व्यापार करने का प्रयास कर रहा है क्योंकि इसमें अंतर्निहित अस्थिरता बाजार, यह जरूरी है कि व्यापारियों के पास एक काम और विश्वसनीय इंटरनेट कनेक्शन है वायरलेस या डायलअप कनेक्शन से सिग्नल की ताकत की कमी के कारण व्यापारी का व्यक्तिगत इंटरनेट कनेक्शन FXCM सर्वरों के साथ एक निरंतर संबंध नहीं रख सकता है। कनेक्शन पथ में एक अशांति कभी-कभी संकेत को बाधित कर सकते हैं और FXCM ट्रेडिंग स्टेशन को अक्षम कर सकते हैं, जिससे व्यापार स्टेशन और एफएक्ससीएम सर्वर के बीच डेटा के संचरण में देरी FXCMs सर्वर के साथ अपने इंटरनेट कनेक्शन की जांच करने का एक तरीका सर्वर को आपके कंप्यूटर से पिंग करना है। रीसेट ऑर्डर। बाज़ार की अस्थिरता ऐसी परिस्थितियां पैदा करती हैं जो दिए गए आदेशों को निष्पादित करना कठिन बना देती हैं अत्यधिक उच्च मात्रा के आदेशों के कारण मूल्य समय के आदेशों को निष्पादित करने में सक्षम होते हैं, बोली पूछना मूल्य जिस पर एक तरलता प्रदाता एक स्थान लेने के लिए तैयार है, कई पिप्स दूर हो सकते हैं। ऐसे मामलों में जहां तरलता पूल पर्याप्त नहीं है एक मार्केट रेंज ऑर्डर भरने के लिए, ऑर्डर को निष्पादित नहीं किया जाएगा लिमिट एंट्री या लिमिट ऑर्डर के लिए, ऑर्डर निष्पादित नहीं किया जाएगा बल्कि इसके बजाय ऑर्डर के समय तक रीसेट करें याद रखें, सीमा शुल्क और सीमा दोनों के आदेशों की गारंटी गारंटी है, लेकिन निष्पादन की गारंटी नहीं है अंतर्निहित व्यापारिक रणनीति के आधार पर और अंतर्निहित बाजार परिस्थितियों के व्यापारियों को प्राप्त मूल्य के मुकाबले निष्पादन के साथ और अधिक चिंतित हो सकते हैं। विद्रोही स्प्रेड। ठेठ फैल फैलता से परे चौड़ा बाजार तरलता का एक कार्य है और सीमित तरलता की अवधि में बाजार खुली है, या 5 00 PM ईटी पर रोलओवर के दौरान, फैलता कीमतों की दिशा में अनिश्चितता के जवाब में चौड़ी हो सकती है, बाजार की अस्थिरता में बढ़ोतरी , या बाजार की तरलता की कमी विशेष रूप से रोलओवर के आसपास प्रसार फैला हुआ दिखाना असामान्य नहीं है व्यापार रोलओवर आमतौर पर बाजार में बहुत ही शांत अवधि है, क्योंकि न्यूयॉर्क में कारोबार का दिन अभी समाप्त हो चुका है, और अभी तक कुछ घंटों पहले ही कारोबार का दिन टोक्यो में शुरू होता है इन पैटर्नों के बारे में जानने के लिए और इन्हें ध्यान में रखते हुए, खुले ऑर्डर के साथ व्यापार या इन टिम के आसपास नए ट्रेडों को रखने पर ई आपके व्यापारिक अनुभव को सुधार सकते हैं यह समाचार घटनाओं के दौरान हो सकता है और बाजार में भारी मात्रा में अस्थिरता की भरपाई करने के लिए फैलता काफी हद तक चौड़ा हो सकता है। चौड़ा प्रसार केवल कुछ ही सेकंड में खत्म हो सकता है या जब तक कुछ मिनटों तक एफएक्ससीएम व्यापारियों को जोरदार प्रोत्साहन देता है खबरों के आसपास कारोबार करते समय सावधानी बरतने के लिए और हमेशा अपने खाते की इक्विटी, प्रयोज्य मार्जिन और मार्केट एक्सपोज़र के बारे में जागरूक रहें, विस्तारित फैलता एक खाते में सभी पदों पर प्रतिकूल रूप से प्रभावित हो सकता है। नीचे दिए गए हेजिंग पदों सहित। हांगिंग के आदेश। उच्च मात्रा के दौरान, फांसी के आदेश घटित यह एक ऐसी स्थिति है जहां आदेश निष्पादित करने की प्रक्रिया में है, लेकिन निष्पादन अभी तक पुष्टि नहीं की गई है आदेश लाल में हाइलाइट किया जाएगा, और स्थिति कॉलम ऑर्डर विंडो में निष्पादित या प्रसंस्करण को इंगित करेगा, इन उदाहरणों में, ऑर्डर निष्पादित होने की प्रक्रिया में, लेकिन जब तक एफएक्ससीएम को उद्धृत कीमतों की पुष्टि नहीं हुई है, तब तक लंबित है उपलब्ध होने तक भारी ट्रेडिंग वॉल्यूम की अवधि के दौरान, यह संभव है कि ऑर्डर के एक कतार के रूप में इनकमिंग ऑर्डर में बढ़ोतरी हो सकती है, कभी-कभी ऐसी स्थिति बना सकती है, जहां कुछ आदेशों की पुष्टि करने में तरलता प्रदाताओं की देरी हो सकती है। आदेश के प्रकार के आधार पर, परिणाम भिन्न हो सकते हैं एक मार्केट रेंज ऑर्डर के मामले में, जो निर्दिष्ट सीमा के भीतर नहीं भरा जा सकता है, या यदि देरी हो गई है, तो ऑर्डर निष्पादित नहीं किया जाएगा एक मार्केट ऑर्डर के मामले में, हर प्रयास को भरने के लिए किया जाएगा बाजार में अगले उपलब्ध मूल्य पर आदेश दोनों स्थितियों में, ऑर्डर विंडो में स्थिति कॉलम आम तौर पर निष्पादित या प्रसंस्करण को दर्शाता है व्यापार को केवल कुछ पल लेने के लिए खुली स्थिति वाली खिड़की पर जाने के लिए आदेश प्रकार के आधार पर, स्थिति वास्तव में निष्पादित किया गया है, और देरी केवल भारी इंटरनेट ट्रैफ़िक की वजह से है। यह ध्यान रखें कि किसी भी आदेश को दर्ज करने के लिए केवल आवश्यक है जब एक ही ऑर्डर के लिए एकाधिक प्रविष्टियां धीमा हो जाए या आपके कंप्यूटर को सीक्यू करें या अनजाने में अवांछित स्थिति खोलें। अगर आप किसी भी समय अपना खाता प्रबंधित करने के लिए एफएक्ससीएम ट्रेडिंग स्टेशन तक पहुंच नहीं पा रहे हैं, तो आप सीधे ट्रेडिंग डेस्क को 1 212-201-7300 पर कॉल कर सकते हैं। अंतरराष्ट्रीय संपर्क नंबरों की पूरी सूची देखें। ग्रेगरीकृत मूल्य निर्धारण एक शर्त है जो तब होती है जब विदेशी मुद्रा तरलता प्रदाता जो कि एफएक्ससीएम को कीमतों की आपूर्ति करते हैं, सक्रिय रूप से विशेष मुद्रा जोड़े के लिए बाजार नहीं बना रहे हैं और इसलिए तरलता में कमी आई है, इसलिए एफएक्ससीएम जानबूझकर कीमतों से बाहर नहीं निकलती, हालांकि, प्रसार के अंतर में एक प्रदाता के साथ कनेक्टिविटी के नुकसान की वजह से हो सकता है या किसी घोषणा के कारण जिस पर बाजार पर नाटकीय प्रभाव पड़ता है, इस तरह की तरलता सीमित होती है, जैसे कि कीमतों में बढ़ोतरी या बढ़ी हुई स्प्रेड के कारण व्यापारियों के खाते में मार्जिन कॉल हो सकता है जब कोई मुद्रा जोड़ी गई कीमतों से प्रभावित मुद्रा जोड़ी पर रखी जाती है, तो पीएल अस्थायी रूप से शून्य पर फ्लैश करेगा जब तक कि जोड़ी का कोई व्यापार योग्य मूल्य नहीं होता है और सिस्टम कैल कर सकता है पीएल संतुलन को व्यवस्थित करें। हेज करने की क्षमता से एक व्यापारी को उसी मुद्रा जोड़ी में एक साथ खरीद और बेचने की स्थिति दोनों को पकड़ने की अनुमति मिलती है व्यापारियों को मुद्रा जोड़े के लिए एक विशेष दिशा का चयन किए बिना बाजार में प्रवेश करने की क्षमता होती है। हालांकि, हेजिंग भविष्य के घाटे को कम या सीमित कर सकती है यह खाते को और अधिक नुकसान के अधीन नहीं होने से रोकता है पूरी तरह से विदेशी मुद्रा बाजार में एक व्यापारी पूरी तरह से मात्रा से बचाव कर सकता है, लेकिन मूल्य के द्वारा नहीं, यह खरीद और बेचने की कीमतों या अंतर के कारण अंतर है, 02 दिसंबर 2012, एफएक्ससीएम व्यापारियों को एक तरफ मार्जिन लगाने की आवश्यकता होगी जो एक हेजेज स्थिति के बड़े हिस्से की मार्जिन आवश्यकताओं को सामान्य लेनदेन दर खिड़की में हर समय निगरानी रखी जा सकती है जबकि हेज करने की क्षमता एक आकर्षक विशेषता है, व्यापारियों को पता होना चाहिए निम्नलिखित कारक जो हेज की स्थिति को प्रभावित कर सकते हैं। डिलीजनिंग मार्जिन। ए मार्जिन कॉल तब भी हो सकती है जब एक खाता पूरी तरह से हेज हो जाता है, क्योंकि फैलाव फैल सकता है, जिससे ई खाते में शेष मार्जिन कम करने के लिए शेष बकाया कोई भी खुली स्थिति बनाए रखने के लिए अपर्याप्त होना चाहिए, खाता एक मार्जिन कॉल को बनाए रख सकता है, खाते में किसी भी खुली स्थिति को बंद कर सकता है, हालांकि एक लंबी और छोटी स्थिति बनाए रखने से व्यापारी को यह धारणा मिल सकती है कि बाजार के आंदोलन के संबंध में उसका विस्तार सीमित है, यदि अपर्याप्त उपलब्ध मार्जिन मौजूद है और किसी भी अवधि के लिए फैलता है, तो निश्चित रूप से सभी पदों पर एक मार्जिन कॉल हो सकती है। रोल ओवर का मूल्य। रोल ओवर एक साथ समापन है और स्थिति में खरीदी गई मुद्रा के निपटान और वितरण से बचने के लिए दिन के दौरान एक विशेष बिंदु यह शब्द या तो चार्टर्ड रेजिस्ट्रेटर्स के खाते में लागू किया जाता है जो कि रातोंरात आयोजित किए गए पदों के लिए या तो लागू किया जाता है, जिसका मतलब है कि 5 बजे ईटी पर एफएक्ससीएम प्लेटफार्मों का समय जिस पर स्थिति बंद हो जाती है और फिर से खोई जाती है, और रोलओवर शुल्क को डेबिट किया जाता है या श्रेय दिया जाता है, इसे आमतौर पर व्यापार रोलओवर टीआरओ के रूप में जाना जाता है यह नोट करना महत्वपूर्ण है रोलओवर शुल्क पर रोलओवर के अधिग्रहण से अधिक होगा जब सभी पदों को एक खाते में हेज किया जाता है, हालांकि कुल शुद्ध स्थिति सपाट हो सकती है, फिर भी खाते में रोल के कारण होने वाले फैलाव के कारण नुकसान में वृद्धि हो सकती है रोलओवर के दौरान फैलाव व्यापक हो सकता है लिक्विडिटी प्रदाताओं की समय-सीमा की तुलना में, समय के लिए दिन के लेन-देन को व्यवस्थित करने के लिए ऑफ़लाइन आते हैं, कृपया रोलओवर के हिसाब से पदों का प्रबंधन करें और मौजूदा ओपन पोजीशंस या नए पदों के ऑर्डर के साथ निष्पादन के संबंध में फैलता फैलाने के निहितार्थों को समझें। एक्सचेंज रेट फ्लुक्टायूशन पिप कॉस्ट । एक्सचेंज की दर में उतार-चढ़ाव, या पीपी की लागत, एक विशेष मुद्रा जोड़ी के लिए एक पिप आंदोलन को दिए जाने वाले मूल्य के रूप में परिभाषित की जाती है यह लागत मुद्रा की राशि है जो मुद्रा जोड़ी दर के प्रत्येक पिप आंदोलन के साथ अर्जित की जाती है या खो जाएगी और उसे नामांकित किया जाएगा खाते के मुद्रा संप्रदाय में जिसमें जोड़ी का कारोबार किया जा रहा है FXCM प्लेटफार्मों पर, के लिए पिप लागत आर सभी मुद्रा जोड़े को चुनकर, दृष्टिकोणों का व्यवहार करके, और उसके बाद साधारण दरों पर क्लिक करने के बाद, इसके आगे स्थित चेकमार्क को लागू करने के लिए देखें, यदि साधारण दरें पहले से ही एक चेक मार्क के पास हैं, तो सरल दृश्य में लेन-देन दरों को देखते हुए पाया जा सकता है सरल दर के दर खिड़की पर क्लिक करने के लिए आसान के रूप में आसान दरों में खिड़की पर दिखाई देने के बाद खिड़की के दाहिनी ओर पीआईपी लागत प्रदर्शित होगी। जब आप किसी भी डीलिंग डेस्क का उपयोग कर FXCM के साथ विदेशी मुद्रा व्यापार करेंगे निष्पादन मॉडल, आप मूल्य फीड पर व्यापार कर रहे हैं जो कई तरलता प्रदाताओं द्वारा प्रदान किए जा रहे हैं, साथ ही एफएक्ससीएम का मार्क-अप दुर्लभ मामलों में, इन फीड को बाधित किया जा सकता है यह केवल एक पल के लिए खत्म हो सकता है, लेकिन जब यह होता है, तब फैलता है जब इन्वर्टेड हो जाता है इन दुर्लभ अवसरों, एफएक्ससीएम सलाह देते हैं कि ग्राहक बाज़ार के ऑर्डर को रोकने से बचते हैं, हालांकि यह एक मुफ्त व्यापार करने के लिए आकर्षक हो सकता है, यह ध्यान रखें कि कीमतें वास्तविक नहीं हैं और आपकी वास्तविक भरण प्रदर्शित कीमत से कई पिप्स हो सकती है। टी ट्रेडों को वास्तव में एफएक्ससीएम की तरलता प्रदाताओं द्वारा प्रदान की जाने वाली दर पर निष्पादित नहीं किया जाता है, एफएक्ससीएम ऐसे ट्रेडों को रिवर्स करने का अधिकार सुरक्षित रखता है, क्योंकि उन्हें वैध ट्रेड नहीं माना जाता है, इन पलों के दौरान मार्केट रेंज ऑर्डर देने या नहीं व्यापार करने से व्यापारियों से जुड़े जोखिम से बच सकते हैं। उपरोक्त परिदृश्यों। हॉलिडे सप्ताहांत एक्सीकशन। रैडिंग डेस हार्स। ट्रेडिंग डेस्क रविवार को 5 00 बजे ईटी और 5 बजे 15 बजे के बीच खुला रहता है। व्यापारिक डेस्क शुक्रवार को 4 55 बजे ईटी पर बंद होता है कृपया ध्यान दें कि पहले दिए गए आदेश 5 तक भरे जा सकते हैं 00 बजे ईटी और ट्रेडर्स को 4 55 बजे से 5 बजे ईटी के बीच कारोबार रखने का आदेश ऑर्डर लंबित करने के आदेश को रद्द करने में असमर्थ हो सकता है। जब भी मार्केट जीटीसी ऑर्डर को बाजार में बंद किया जाता है, तो संभावना यह है कि इसे तब तक निष्पादित नहीं किया जा सकता है जब तक कि रविवार को बाज़ार खोलें कृपया शुक्रवार के बाजार के आसपास के कारोबार के दौरान सावधानी बरतें और किसी भी कारोबारी फैसले में वर्णित सभी जानकारी का कारक करें। खुले या नज़दीक के समय ट्रेडिंग डेस्क द्वारा बदल सकते हैं क्योंकि यह तरलता प्रदाताओं द्वारा एफएक्ससीएम को दी जा रही कीमतों पर निर्भर करता है, इन घंटों के बाहर, ज्यादातर प्रमुख बैंक और वित्तीय केंद्र बंद होते हैं सप्ताहांत के दौरान तरलता और मात्रा की कमी के निष्पादन और मूल्य वितरण में बाधा उत्पन्न होती है। खुलेपन से पहले अपडेट पेर्स। खुला करने के लिए, ट्रेडिंग डेस्क रिफ्रेश दरों को चालू बाजार की कीमतों को खोलने के लिए तैयार करने में प्रतिबिंबित करता है इस समय, सप्ताहांत में आयोजित ट्रेडों और ऑर्डर लागू होते हैं इस समय के दौरान उद्धरण नए बाजार ऑर्डर के लिए निष्पादन योग्य नहीं हैं ओपन, व्यापारियों के बाद नए ट्रेडों रख सकते हैं, और मौजूदा ऑर्डर रद्द कर सकते हैं या संशोधित कर सकते हैं.संदे की शुरुआती कीमतें शुक्रवार की समाप्ति की कीमतों के समान हो सकती हैं या नहीं हो सकती हैं कई बार, रविवार को खुले रहने की कीमत करीब निकट होती है जहां कीमतें शुक्रवार को बंद होती हैं , शुक्रवार के करीबी और रविवार को खुले रहने के बीच एक महत्वपूर्ण अंतर हो सकता है यदि कोई महत्वपूर्ण समाचार घोषणा या एक आर्थिक घटना है जो बाज़ार के विचारों को बदल रहा है तो बाज़ार में अंतर हो सकता है मुद्रा का मूल्य सप्ताह के अंत में स्थित पदों या ऑर्डर वाले ट्रेडर्स को बाज़ार की क्षमता के साथ-साथ अंतराल के लिए पूरी तरह से आरामदायक होना चाहिए। आदेश निष्पादन। आदेश को अक्सर अनुरोधित मूल्य या बेहतर पर भर दिया जाता है यदि मूल्य का अनुरोध किया जाता है या बेहतर कीमत नहीं है बाजार में उपलब्ध नहीं है, यह ऑर्डर भर नहीं होगा यदि रविवार को मार्केट खोलने पर स्टॉप ऑर्डर की मांग की गई कीमत पर पहुंच जाती है, तो यह ऑर्डर एक मार्केट ऑर्डर सीमा बन जाएगी, लिमिट एंट्री ऑर्डर उसी तरह से भर दी जाती हैं जैसे लिमिट ऑर्डर स्टॉप एंट्री आदेशों को उसी तरह से भर दिया जाता है जैसे स्टॉप। सप्ताह के जोखिम। ट्रेडर्स जो डरते हैं कि सप्ताहांत में बाज़ार बेहद अस्थिर हो सकता है, यह गैपिंग हो सकता है, या सप्ताहांत जोखिम की संभावितता उनके व्यापारिक शैली के लिए उपयुक्त नहीं है, बस बंद हो सकती है आदेश और सप्ताहांत के आगे स्थितियां यह आवश्यक है कि सप्ताहांत में ओपन पोजीशन रखने वाले व्यापारियों को समझना चाहिए कि प्रमुख आर्थिक घटनाओं और समाचार घोषणाओं के मूल्य को प्रभावित करने के लिए संभावित अपने अंतर्निहित पदों बाजारों में व्यक्त की अस्थिरता को देखते हुए यह असामान्य नहीं है कि बाजार में बाजार से खुले बाजार पर कीमतों में कई पप दूर हो जाएं हम सभी व्यापारियों को व्यापार निर्णय लेने से पहले इसे ध्यान में रखने के लिए प्रोत्साहित करते हैं। मार्जिन कॉल और बंद करें मार्जिन कॉल्स तब शुरू हो रहे हैं जब आपका प्रयोग करने योग्य मार्जिन शून्य से नीचे गिर जाता है यह तब होता है जब आपके फ्लोटिंग हानि आपके मार्जिन आवश्यकता से कम एक स्तर पर आपके खाते की इक्विटी को कम करते हैं, इसलिए किसी भी मार्जिन कॉल का नतीजा उसके बाद परिसमापन होता है जब तक कि निर्दिष्ट नहीं किया जाता है। मार्जिन का विचार व्यापार यह है कि आपका मार्जिन एक अच्छा विश्वास जमा के रूप में कार्य करता है जिससे आपकी स्थिति मार्जिन ट्रेडिंग का बड़ा काल्पनिक मूल्य सुरक्षित हो सकता है व्यापारियों को वास्तविक खाता मूल्य से बहुत अधिक स्थान प्राप्त करने की अनुमति मिलती है FXCM ट्रेडिंग स्टेशन की मार्जिन प्रबंधन क्षमताओं, जो कि उपयोग के लिए अनुमति देते हैं लाभ उठाना बेशक, मार्जिन पर ट्रेडिंग जोखिम के साथ आता है क्योंकि लीवरेज जितना आपके लिए काम करता है जितना आपके लिए काम करता है यदि खाता इक्विटी मार्जिन आवश्यकताओं से नीचे गिरता है, एफएक्ससीएम ट्रेडिंग स्टेशन सभी ओपन पोजिशन को बंद करने के लिए एक आदेश को ट्रिगर करेगा जब स्थिति ओवर लीवरेज हो गई है या व्यापार घाटे को उस बिंदु पर लगाया गया है कि वर्तमान खुली स्थिति बनाए रखने के लिए अपर्याप्त इक्विटी मौजूद है और खाते का उपयोग योग्य मार्जिन नीचे गिर जाता है शून्य, एक मार्जिन कॉल का नतीजा होगा और सभी खुले स्थान समाप्त हो जाएंगे। कृपया ध्यान रखें कि जब खाते का उपयोग योग्य मार्जिन शून्य से नीचे आता है, तो सभी खुले स्थान बंद करने के लिए शुरू हो रहे हैं, परिसमापन प्रक्रिया पूरी तरह से इलेक्ट्रॉनिक होने के लिए डिज़ाइन की गई है। हालांकि मार्जिन कॉल सुविधा उन पदों को बंद करने के लिए डिज़ाइन की गई है, जब खाता इक्विटी मार्जिन आवश्यकताओं से नीचे आता है, उदाहरण हो सकते हैं जब तरलता सही मार्जिन कॉल दर पर मौजूद नहीं होती है, परिणामस्वरूप खाता इक्विटी मार्जिन आवश्यकताओं से कम हो सकती है जब ऑर्डर भर दिए जाते हैं। यहां तक कि उस बिंदु तक जहां खाता इक्विटी नकारात्मक हो जाता है यह विशेष रूप से बाजार के अंतराल या अस्थिर अवधि एफएक्ससीएम की सिफारिश के दौरान सच है यह है कि व्यापारियों को अंतिम समापन के रूप में एक मार्जिन कॉल का उपयोग करने के बदले में नकारात्मक जोखिम को सीमित करने के लिए रोक आदेश का उपयोग करते हैं। यह दृढ़ता से सलाह दी जाती है कि ग्राहक हर समय अपने खाते में मार्जिन की उचित मात्रा को बनाए रखें, मार्जिन आवश्यकताओं को खाता आकार के आधार पर बदला जा सकता है, एक साथ खुली स्थिति, व्यापारिक शैली, बाजार की स्थितियों, और एफएक्ससीएम। मेटाट्रेडर के विवेक पर 4. कृपया ध्यान दें कि एमटी 4 उपयोगकर्ता अलग-अलग मार्जिन कॉल प्रक्रियाओं के अधीन हैं, जब एक मार्जिन कॉल खाते पर ट्रिगर हो जाती है, तब तक व्यक्तिगत पदों को शेष तक लदान किया जाएगा मौजूदा स्थिति का समर्थन करने के लिए इक्विटी पर्याप्त है, यह तय करने में कि व्यक्तिगत स्थिति में व्यक्तिगत रूप से सबसे अधिक खोने वाली स्थिति को समाप्त करने के बाद परिसमापन के दौरान पहले बंद हो जाएगा। चार्ट कीमत पर प्रदर्शित चार्ट मूल्य। मूल्य चार्ट पर प्रदर्शित कीमतों के बीच अंतर बनाने के लिए महत्वपूर्ण है। प्लेटफार्मों पर प्रदर्शित होने योग्य सौदे, जैसे कि ट्रेडिंग स्टेशन और मेटाट्रेडर 4 संकेतक उद्धरण ये हैं जो एक बाजार में कीमतों का संकेत, और जिस दर पर वे बदल रहे हैं ये कीमतें कई योगदानकर्ताओं जैसे कि बैंकों और समाशोधन कंपनियों से ली गई हैं, जो कि जहां एफएक्ससीएम की तरलता प्रदाता कीमतें बना रहे हैं या नहीं प्रतिबिंबित कर सकते हैं संकेतक कीमतें आम तौर पर कीमतों के निपटारे के बहुत करीब है, लेकिन वे केवल यह संकेत देते हैं कि बाजार कहाँ निष्पादन योग्य है, बेहतर निष्पादन सुनिश्चित करने के लिए उद्धरण और इस प्रकार कम लेनदेन लागत क्योंकि स्पॉट फॉरेक्स मार्केट में एक ऐसा केंद्रीय मुद्रा नहीं है जहां सभी लेनदेन किए जाते हैं, प्रत्येक विदेशी मुद्रा व्यापारी थोड़ा अलग कीमतें इसलिए, किसी तीसरे पक्ष के चार्टिंग प्रदाता द्वारा प्रदर्शित किए गए किसी भी मूल्य, जो बाजार निर्माता के मूल्य फीड को नियोजित नहीं करता है, संकेतक कीमतों को प्रतिबिंबित करेगा और जरूरी नहीं कि वास्तविक सौदे की कीमतें जहां ट्रेडों को निष्पादित किया जा सकता है.मोबाइल ट्रेडिंग प्लैटफॉर्म। मोबाइल ट्रेडिंग तकनीक के उपयोग के साथ निहित जोखिम, जैसे कि आदेश के अनुदेशों की प्रतिलिपि, कीमतों में विलंबता प्रावधान डीएडी, और अन्य मुद्दों जो मोबाइल कनेक्टिविटी के परिणाम हैं मोबाइल प्लेटफॉर्म पर प्रदर्शित मूल्य पूरी तरह से निष्पादन योग्य दरों का संकेत है और ऑर्डर के वास्तविक निष्पादित मूल्य को प्रतिबिंबित नहीं कर सकते हैं। मोबाइल टीएस II सार्वजनिक संचार नेटवर्क सर्किटों का संचरण के लिए उपयोग करता है संदेश एफएक्ससीएम किसी भी और सभी परिस्थितियों के लिए उत्तरदायी नहीं होगा, जिसमें आपको मूल्य उद्धरण में देरी या नेटवर्क सर्किट ट्रांसमिशन समस्याओं या एफएक्ससीएम ट्रांसमिशन समस्याओं के प्रत्यक्ष नियंत्रण के बाहर किसी भी अन्य समस्या के कारण व्यापार की असमर्थता का अनुभव होता है, लेकिन इसमें सीमित नहीं है मोबाइल सिग्नल की शक्ति, सेलुलर विलंबता, या आपके और किसी भी इंटरनेट सेवा प्रदाता, फोन सेवा प्रदाता, या किसी अन्य सेवा प्रदाता के बीच उत्पन्न होने वाली कोई अन्य समस्या। यह दृढ़ता से अनुशंसा की जाती है कि ग्राहक खुद को एफएक्ससीएम मोबाइल ट्रेडिंग की कार्यक्षमता से परिचित कराएं पोर्टेबल डिवाइस के माध्यम से एक लाइव अकाउंट के प्रबंधन से पहले स्टेशन। मोबाइल के टैबलेट एप्लीकेशन। एफएक्ससीएम एस ट्रेडिंग मोबाइल और टैबलेट उपकरणों पर चलने के लिए स्टेशन वेब प्लेटफ़ॉर्म को संशोधित किया गया है टैबलेट उपकरणों के लिए मोबाइल प्लेटफ़ॉर्म को ट्रेडिंग स्टेशन मोबाइल कहते हैं और ट्रेडिंग स्टेशन वेब के समान व्यापारिक विशेषताएं हैं हमारे मोबाइल टीएस II के ऊपर वर्णित समान कनेक्टिविटी जोखिम किसी भी के साथ उपयोग करने के लिए लागू होते हैं आवेदन टैबलेट व्यापार के लिए उपलब्ध कराया जाता है। डिलींग डेस्क विदेशी मुद्रा निष्पादन व्यापार जोखिम। हाईस जोखिम निवेश। मार्जिन पर विदेशी मुद्रा विनिमय एक उच्च स्तर का जोखिम रखता है, और सभी निवेशकों के लिए उपयुक्त नहीं हो सकता है विदेशी मुद्रा पूंजी बाजार द्वारा प्रस्तुत इन उत्पादों का व्यापार करने से पहले, सीमित एफएक्ससीएम आपको सावधानी से अपने उद्देश्यों, वित्तीय स्थिति, जरूरतों और अनुभव के स्तर पर विचार करना चाहिए विदेशी मुद्रा पूंजी बाजार, लिमिटेड अधिकृत है और यूके वित्तीय आचरण प्राधिकरण एफसीए पंजीकरण द्वारा 217689 एफएक्ससीएम उत्तरी और शैल भवन, 10 लोअर टेम्स में अपना पंजीकृत कार्यालय रखता है स्ट्रीट, 8 वीं मंजिल, लंदन ईसी 3 आर 6 एएडी एफएक्ससीएम आपके संबंध के बिना सामान्य टिप्पणी प्रदान कर सकता है उद्देश्यों, वित्तीय स्थिति या जरूरतों को सामान्य सलाह दी गई है, या इस वेबसाइट की सामग्री का निजी उद्देश्य नहीं है और इसका अर्थ नहीं माना जाना चाहिए जैसे कि संभावना यह है कि आप अपने जमा धन से अधिक हानि बनाए रख सकते हैं आपको अवगत होना चाहिए मार्जिन एफएक्ससीएम पर व्यापार से जुड़ा सभी जोखिमों की सिफारिश की गई है कि आप एक स्वतंत्र वित्तीय सलाहकार से सलाह लेना चाहते हैं। एफएक्ससीएम मार्केट प्रायद्वीप। इस वेबसाइट पर मौजूद किसी भी राय, समाचार, शोध, विश्लेषण, कीमतों या अन्य जानकारी को सामान्य बाजार की टिप्पणी के रूप में प्रदान किया गया है, और निवेश सलाह का गठन नहीं करता है एफएक्ससीएम किसी भी हानि या क्षति के लिए उत्तरदायित्व को स्वीकार नहीं करेगा, जिसमें बिना किसी सीमा के लाभ, किसी भी नुकसान का नुकसान शामिल है, जो सीधे या अप्रत्यक्ष रूप से इस तरह की जानकारी के उपयोग या रिलायंस से उत्पन्न हो सकता है। इंटरनेशनल ट्रेडिंग जोखिम। एक इंटरनेट आधारित सौदा-निष्पादन व्यापार प्रणाली का उपयोग करना, जिसमें हार्डवेयर, सॉफ़्टवेयर और इंटरनेट कनेक्शन की असफलता, जिसमें एफ XCM इंटरनेट के माध्यम से सिग्नल पावर, इसका रिसेप्शन या रूटिंग, अपने उपकरणों की कॉन्फ़िगरेशन या उसके कनेक्शन की विश्वसनीयता पर नियंत्रण नहीं करता है, हम इंटरनेट के माध्यम से व्यापार करते समय संचार विफलताओं, विकृतियों या देरी के लिए जिम्मेदार नहीं हो सकते। एफएक्ससीएम बैकअप सिस्टम को रोजगार और कम से कम करने की आकस्मिक योजनाएं सिस्टम विफलता की संभावना, जिसमें ग्राहकों को टेलीफ़ोन के माध्यम से व्यापार करने की अनुमति शामिल है। DEALING DESK FOREX EXECUTION MODEL. FXCM भी एक डीलिंग डेस्क निष्पादन मॉडल के माध्यम से विदेशी मुद्रा निष्पादन प्रदान करता है इस मॉडल में, FXCM का मुआवजा हमारे मानक मार्कअप और हमारी रुचियों तक सीमित नहीं हो सकता है आपके साथ सीधा संघर्ष में हो सकता है FXCM आपके साथ ट्रेडों में प्रवेश करने के परिणामस्वरूप बाजार जोखिम का सामना कर सकता है FXCM बाज़ार से उत्पन्न होने वाले जोखिम को कम करने के लिए कदम उठा सकता है, हमारे संपूर्ण विवेकाधिकार से और किसी भी समय और पिछली सहमति के बिना, स्थानांतरित हो सकता है आपके एनडीडी निष्पादन की पेशकश के लिए अपने मूलभूत खाते में एफएक्ससीएम आपके खाते को हमारे डीलिंग डेस्क एनडी डी की भेंट आपके खाते में इक्विटी बैलेंस अधिकतम 20,000 मुद्रा इकाइयों से अधिक होनी चाहिए जिसमें खाता निहित है खाता इक्विटी को आपके खाते की शेष राशि और आपके खुले स्थान के फ्लोटिंग पीएल के रूप में परिभाषित किया जाता है। डेलिंग डेस्क निष्पादन और व्यापार एक पर आयोजित नहीं किया जाता है एक्सचेंज एफएक्ससीएम इन लेन-देन में प्रतिपक्ष के तौर पर काम कर रहा है और इसलिए जब आप खरीदते हैं तो विक्रेता के रूप में खरीदार होता है और परिणामस्वरूप, एफएक्ससीएम के हित आपके साथ संघर्ष में हो सकते हैं जब तक कि आपके लिखित समझौते या अन्य लिखित में निर्दिष्ट नहीं दस्तावेज एफएक्ससीएम उन कीमतों को स्थापित करता है जिन पर यह आपके साथ व्यापार करने की पेशकश करता है कीमतें एफएक्ससीएम ऑफर सर्वोत्तम मूल्य उपलब्ध नहीं हो सकतीं और एफएक्ससीएम विभिन्न ग्राहकों को अलग-अलग कीमतों की पेशकश कर सकती हैं यदि एफएक्ससीएम अपने व्यापार के जोखिम को कवर न करने का चुनाव करता है, तो आपको अवगत होना चाहिए यदि बाजार आपके खिलाफ जाता है तो एफएक्ससीएम ज्यादा पैसा कमा सकता है। नीचे सूचीबद्ध मुद्रा जोड़े डीलिंग डेस्क निष्पादन की पेशकश पर उपलब्ध हैं, एफएक्ससीएम गारंटी नहीं देता है चूंकि अन्य ग्राहकों की तुलना में अन्य ग्राहकों के मुकाबले उद्धरण, कीमत, या फैलाव हमेशा बेहतर होता है, जब तय करते हैं कि किस प्रकार के निष्पादन प्रकार सबसे ज्यादा उपयुक्त हैं, जैसे हितों का संघर्ष, व्यापार शैली या रणनीति आदि। एफएक्ससीएम का उद्देश्य सबसे अच्छा निष्पादन वाले ग्राहकों को उपलब्ध कराने और अनुरोधित दर से भरने के लिए सभी आदेश प्राप्त करने के लिए हालांकि, कई बार जब वाष्पशीलता में वृद्धि के कारण आदेश क्रमशः के अधीन हो सकते हैं, स्लिपेज सामान्यतः मौलिक समाचार घटनाओं या उच्च स्तर के दौरान होता है उतार-चढ़ाव उदाहरण जैसे व्यापार रोल ओवर 5 बजे ईएसटी एक ज्ञात अवधि है जिसमें तरलता की मात्रा सीमित हो जाती है क्योंकि उस दिन के लिए कई नकदी प्रदाताओं के लिए लेन-देन व्यवस्थित होते हैं रोलओवर क्यों होता है, इस बारे में अधिक जानकारी के लिए रोल ओवर की लागत पर अनुभाग देखें, , आपके ऑर्डर के प्रकार, मात्रा की मांग की जाती है, और विशिष्ट ऑर्डर के निर्देशों से आप प्राप्त समग्र निष्पादन पर असर डाल सकते हैं। बाजार में अस्थिरता ऐसी परिस्थितियां बना सकती हैं जहां आदेश निष्पादित करना मुश्किल हो सकते हैं उदाहरण के लिए, आपके ऑर्डर के निष्पादन में जो कीमत आपको प्राप्त होती है वह बाजार या चाल के चलते चयनित या उद्धृत मूल्य से बहुत अधिक हो सकती है। इस परिदृश्य में, व्यापारी एक निश्चित कीमत, लेकिन एक विभाजन दूसरे में, उदाहरण के लिए, बाजार उस मूल्य से काफी दूर हो सकता है व्यापारी उस आदेश के लिए अगले उपलब्ध मूल्य पर भर जाएगा, तो एफएक्ससीएम कई बुनियादी और उन्नत आदेश प्रकार प्रदान करता है ताकि ग्राहकों को मदद मिल सके। निष्पादन जोखिम को कम करने के लिए slippage से जुड़े जोखिम को कम करने का एक तरीका है, एमटी 4 उपयोगकर्ताओं के लिए मार्केट रेंज मैक्स डेविएशन का उपयोग एफएक्ससीएम प्लेटफॉर्म पर होता है बाजार रेंज सुविधा व्यापारियों को बाज़ार की ओर से संभावित स्लीपेज को स्वीकार करने के लिए तैयार करने की अनुमति देता है श्रेणी परिभाषित करके जीरो इंगित करता है कि कोई स्लिपेज की अनुमति नहीं है मार्केट रेंज पर शून्य का चयन करके, व्यापारी केवल अपने आदेश का अनुरोध करता है कि वह केवल चयनित या उद्धृत मूल्य, किसी भी अन्य कीमत नहीं, व्यापारी अपने ऑर्डर को निष्पादित करने की संभावना बढ़ाने के लिए स्वीकार्य स्लीपेज की व्यापक श्रेणी को स्वीकार करने का चुनाव कर सकते हैं इस परिदृश्य में, निर्दिष्ट सीमा के भीतर उपलब्ध सर्वोत्तम मूल्य पर ऑर्डर भर दिया जाएगा उदाहरण के लिए, एक क्लाइंट यह संकेत दे सकता है कि वह अपने अनुरोधित ऑर्डर की कीमत के 2 पिप्स के भीतर भरने को तैयार है। सिस्टम तब इस स्वीकार्य सीमा में स्वीकार्य सीमा के भीतर भर जाएगा, अगर पर्याप्त तरलता मौजूद है तो यदि आदेश निर्दिष्ट सीमा के भीतर नहीं भरा जा सकता है , आदेश भर नहीं होगा कृपया ध्यान दें, मार्केट रेंज ऑर्डर केवल एक नकारात्मक श्रेणी निर्दिष्ट करते हैं यदि निष्पादन के समय अधिक तरजीही दर उपलब्ध होती है तो वे सकारात्मक मूल्य में सुधार की मात्रा के लिए निर्दिष्ट सीमा तक सीमित नहीं हैं। इसके अतिरिक्त , जब ट्रिगर किया जाता है, तो आदेश बंद हो जाते हैं अगले उपलब्ध बाजार मूल्य पर निष्पादन के लिए उपलब्ध एक मार्केट ऑर्डर बनना बंद ऑर्डर गारंटी निष्पादन परन्तु गारंटी नहीं देते हैं एक विशेष मूल्य। एफएक्ससीएम के डीलिंग डेस्क निष्पादन मॉडल के जरिए विदेशी मुद्रा व्यापार करते हैं, एफएक्ससीएम इन लेनदेन के लिए अंतिम प्रतिपक्ष है। इसलिए, एफएक्ससीएम सभी मुद्रा मूल्यों के लिए सभी तरलता प्रदान कर रहा है, जब यह काउंटरपार्टी के रूप में काम करता है, एफएक्ससीएम ऑटो निष्पादन करने में सक्षम है सभी ऑर्डर के अधिकतम व्यापार आकार को 2 लाख प्रति व्यापार में सीमित करके उपलब्ध है। निष्पादन में देरी। निष्पादन में विलंब विभिन्न कारणों से निपटने वाले डेस्क मॉडल का उपयोग हो सकता है, जैसे कि एफएक्ससीएम के व्यापारी या इंटरनेट कनेक्शन के साथ तकनीकी मुद्दे मुद्रा जोड़ी के लिए उपलब्ध तरलता की कमी है कि व्यापारी व्यापार करने का प्रयास कर रहा है बाजारों में अंतर्निहित अस्थिरता के कारण, यह जरूरी है कि व्यापारियों के पास एक काम और विश्वसनीय इंटरनेट कनेक्शन होता है वहां परिस्थिति होती है जब व्यापारी का व्यक्तिगत इंटरनेट कनेक्शन निरंतर वायरलेस या डायलअप कनेक्शन से सिग्नल की शक्ति की कमी के कारण FXCM सर्वर के साथ कनेक्शन कनेक्शन पथ सी में गड़बड़ी कभी-कभी संकेत बिगाड़ते हैं और एफएक्ससीएम ट्रेडिंग स्टेशन को निष्क्रिय कर देते हैं, जिससे ट्रेडिंग स्टेशन और एफएक्ससीएम सर्वर के बीच डेटा के संचरण में देरी हो सकती है। एफएक्ससीएम सर्वर के साथ अपने इंटरनेट कनेक्शन की जांच करने का एक तरीका आपके कंप्यूटर से सर्वर को पिंग करना है। TRACKACTION एफएक्ससीएम प्रयासों को मिलीसेकंड्स में ऑर्डर करने की कोशिश करता है, हालांकि, ऑर्डर प्रोसेसिंग के लिए कोई सटीक समय सीमा नहीं है। ट्रांस्क्शन के पूर्ण संस्करण। जब कोई क्लाइंट ऑर्डर करता है, तो एफएक्ससीएम पर्याप्त रूप से पर्याप्त मार्जिन के लिए अकाउंट की पुष्टि करता है तो ऑर्डर के मुकाबले तरलता प्रदाताओं एक हेज ऑर्डर तो निष्पादन के लिए तरलता प्रदाता को भेजा जाता है अंत में, ग्राहक का आदेश भरा हुआ है और खुले बंद पदों को अपडेट किया गया है। EXCEPTIONS हस्तांतरण की पूर्णता। सामान्य लेनदेन के अपवाद हो सकते हैं, जैसे असामान्य आदेश प्रोसेसिंग के कारण देरी या आंतरिक या बाह्य प्रक्रियाओं के साथ खराब होने वाले ऐसे मामलों में, एफएक्ससीएम क्लाइंट को यथासंभव शीघ्र सूचित करता है, ओ पर निर्भर करता है समस्या की जटिलता। एफएक्ससीएम का उद्देश्य ग्राहकों को इस प्रकार के अपवादों को जितनी जल्दी हो सके के बारे में सूचित करना है, लेकिन अधिसूचना के लिए समय-समय पर समीक्षा के तहत समस्या की जटिलता पर निर्भर करता है। टेस्टिंग स्टेशन अगर असामान्य बाजार आदेश प्रसंस्करण होता है, तो आदेश लाल में हाइलाइट किया जाएगा, और स्टेटस कॉलम ऑर्डर विंडो में निष्पादित या प्रसंस्करण को इंगित करेगा, इन स्थितियों में, आदेश निष्पादित होने की प्रक्रिया में है, लेकिन जब तक एफएक्ससीएम को नकदी की कीमतों की पुष्टि नहीं हुई है, तब तक लंबित है अभी भी उपलब्ध हैं भारी ट्रेडिंग वॉल्यूम की अवधि के दौरान, यह संभव है कि ऑर्डर के एक कतार के रूप में इनकमिंग ऑर्डर में वृद्धि हो सकती है, कभी-कभी ऐसी परिस्थितियां बना सकती हैं जहां कुछ ऑर्डर की पुष्टि करने में तरलता प्रदाताओं की देरी हो। मेटाट्रेडर 4 एमटी 4 अगर असामान्य मार्केट ऑर्डर प्रसंस्करण होता है, ऑर्डर विंडो ट्रेडिंग प्लेटफॉर्म पर खुली रहती है और प्रसंस्करण त्रुटि को प्रतिबिंबित करती है इन उदाहरणों में, ऑर्डर I है I निष्पादित होने की प्रक्रिया, लेकिन एफएक्ससीएम को लिक्विडिटी प्रदाता से पुष्टि प्राप्त होने तक लंबित है जब उद्धृत कीमतें अभी भी उपलब्ध हैं भारी ट्रेडिंग अवधि की अवधि के दौरान, यह संभव है कि आदेशों की एक पंक्ति के रूप में आते हैं जो आने वाले ऑर्डर में यह वृद्धि कभी-कभी शर्तों जहां कुछ आदेशों की पुष्टि करने में तरलता प्रदाताओं की देरी है। रीसेट ऑर्डर। बाज़ार की अस्थिरता से ऐसी परिस्थितियां पैदा होती हैं जो आदेशों की अत्यधिक मात्रा में होने के कारण दिए गए मूल्यों पर ऑर्डर निष्पादित करना कठिन बनाते हैं। समय के आदेश को निष्पादित करने में सक्षम होते हैं , 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 executi on 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 substantially 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 conf irming 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 int ernational 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 prev ent 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 t he 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 p eriods 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 execu tion 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 use 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 may 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 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. 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 marg in 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 bel ow 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 dea lable 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 ris ks 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 FX CM 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 Lowe r 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 sys tem 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 fin al 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 t hrough 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 roll over 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 marke t 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 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 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 transaction s 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 t raders 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 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 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 possibl e 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 b e 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 Dep ending 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 margin 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 mar gin 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 cha rges 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, 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. 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 poste d 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 ord ers. 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 Lim it 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 marg in 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 re ference 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 liqui dity 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. Mobi le 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 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 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 liquidi ty 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, traders 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 the 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 how 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 devia tion 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 Trad ing 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 FXCM 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 process ing 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 oc curs, 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 deposi ted 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 future, 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. EUR HUF - Euro Hungarian Forint. Sell EURHUF TP 309 Read More. Sep 07, 2016 07 53AM GMT Reply. The EURUSD was indecisive yesterday but overall still able to maintain its bearish bias, made another lower high and low The bias remains bearish in nearest term testing 1 0950 as a part of the bearish scenario after formed a shooting star formation as you can see on my daily chart below A clear break and daily close below 1 0950 could trigger further bearish pr essure targeting 1 0800 area Immediate resistance remains around 1 1070 former support A clear break above that area could lead price to neutral zone in nearest term testing 1 1120 visit my profile to get more details but overall I prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell Read More. Feb 24, 2016 04 33AM GMT Reply. Do jot expect short time 320 It will go 300 most probably Read More. Jan 29, 2016 08 54AM GMT Reply. Show all comments 55.Execution Risks. These pairs have a level of risk associated with them that may not be inherent The market for these currencies is very illiquid, with liquidity being maintained and provided by one, or few external sources These liquidity concerns include but are not limited to, the inability to exit positions based on lack of market activity, differences in the prices quoted and final execution received, or a delay in execution while a counterparty for your specific transaction is identified W ith these considerations in mind it is imperative that any trader factor this into any trading decision For this reason we strongly encourage all traders to utilize advanced order types to mitigate these risks. DELAYS IN EXECUTION. Delays in execution may occur using FXCM s No Dealing Desk forex execution model for various reasons, such as technical issues with the trader s internet connection to FXCM a delay in order confirmation from a liquidity provider or by a lack of available liquidity for the currency pair that the 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, causi ng 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. 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 a liquidity provider 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 whe n 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, 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 substantially 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 until FXCM receives confirmation from the liquidity provider that the quoted prices is 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. Depending on the type of order placed, outcomes m ay 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 international contact numbers. GREYED OUT PRICING. Greyed out pricing is a c ondition that occurs when forex liquidity providers that supply pricing to FXCM are 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 a loss of connectivity with a provider or 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 prevent 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 periods because of liquidity providers momentarily coming offline to settle the day s transactions Please manage positions accordingly around rollover and understand the implications of spreads widening in regard to execution with existing open positions or new positions orders. 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 you trade forex with FXCM using a No Dealing Desk execution model, you are trading on price feeds that are being provided by multiple liquidity providers, plus FXCM s mark-up In rare cases, these feed can be disrupted This may only last for a moment, but when it does, spreads become inverted During these rare occasions, FXCM advises that clients avoid placing At Market orders While it may be tempting to place a free trade, keep in mind that the prices are not real and your actual fill may be many pips away from the displayed price In the event that trades are executed at rates not actually offered by FXCM s liquidity providers, FXCM reserves the right to reverse such trades, as they are not considered valid trades By placing Market Range orders or not trading during these moments, traders can avoid the risk associated with the above scenar ios. 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 at market open Please use 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 liquidity providers to FXCM 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 may 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, t he 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. 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 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, t rading 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 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 dealin g 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 mes sages 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 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 a pplication 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 ass ociated 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 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. 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 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 secon d, 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 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 filled at the best price available within the specified range For instance, a client may indi cate 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 availa ble 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 TRANSACTIO N. 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 hi ghlighted 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 cond itions 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 substantially 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, us able 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 confirming 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 international 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 t he 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 prevent 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 m argin 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 t o 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 periods 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 wil l 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 execution 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 use 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 worl d 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 may 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 t he 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 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. 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 Wh en 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 ma rgin 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 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 m ay 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 a s 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 tha t 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 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 underlyin g 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 through 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 provi ders 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 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. 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 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 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 a vailability 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 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 pat h 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 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 processing or malfunctions with internal or external processes In suc h 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 platfo rm 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 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 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 margin 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 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 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, 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. FXCM s Trading Desk may rely on various third party sourc es 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 orders. 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 pric es 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 reference 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 posit ions 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 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. 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 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 is called Trading Station Mobile With the exception of OCO orders one-cancels-other , Trading Station Mobile for ta blet 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 liquid ity 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, traders 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 the 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, pleas e 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 how 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 Meta Trader 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 deviation 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 ac count 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 Trading 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 MetaTra der 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 FXCM 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 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 depe nds 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. 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 deposited 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 उद्देश्यों, वित्तीय स्थिति या ज़रूरतें इस वेबसाइट की सामग्री को व्यक्तिगत सलाह के रूप में नहीं माना जाना चाहिए FXCM आपको एक अलग वित्तीय सलाहकार से सलाह लेने की सलाह देता है। कृपया पूरी जोखिम चेतावनी को पढ़ने के लिए यहां क्लिक करें। पूंजीगत बाज़ार लिमिटेड एफएक्ससीएम लिमिटेड एक ऑपरेटिंग सहायक कंपनी है एफएक्ससीएम ग्रुप कंपनियों की सामूहिक रूप से, एफएक्ससीएम ग्रुप एफएक्ससीएम को इस साइट पर सभी संदर्भ एफएक्ससीएम ग्रुप को संदर्भित करते हैं। विदेशी मुद्रा पूंजी बाजार लिमिटेड वित्तीय आचरण प्राधिकरण पंजीकरण नंबर 217689 द्वारा यूनाइटेड किंगडम में अधिकृत और विनियमित है। टैक्स उपचार ब्रिटेन के कर उपचार आपकी वित्तीय सट्टेबाजी की गतिविधियां आपके व्यक्तिगत परिस्थितियों पर निर्भर करती हैं और भविष्य में बदलाव के अधीन हो सकती हैं, या अन्य न्यायालयों में भिन्न हो सकती हैं। कॉपीराइट 2017 विदेशी मुद्रा पूंजी बाजार सभी अधिकार सुरक्षित। नॉर्थ टेम्स स्ट्रीट, 8 वीं मंजिल, लंदन ईसी 3 आर 6 एडी कंपनी के रूप में पंजीकृत कार्यालय के साथ इंग्लैंड वेल्स में कोई 04072877 शामिल है। हम प्रदर्शन बढ़ाने के लिए कुकीज़ का उपयोग करते हैं nce 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. 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