Leaving an Order

The dealing system includes sophisticated order entry and tracking which is located under the Position Management screen.

To place an order, complete the appropriate sections:



  1. Select a Currency Pair: choose a currency pair from the drop down list.

  2. Choose an Order Type:

    • Single: single Stop Loss or Limit order, with your choice of end of day or good’ til cancelled (GTC) expiry.

    • One Cancels the Other (OCO): Two-legged order whereby the second leg is cancelled if the first leg is executed.

    • If Then: Two-legged order whereby the second single order is placed only upon execution of the first single order.

    • If Then / OCO: Two legged order whereby the OCO order is placed only upon execution of the first single order.

    • Trailing Stop: A single stop loss order that automatically 'trails' the price of the currency. This offers the potential for greater gains while still guarding against price declines.


  3. Choose the Expiry: Choose one of the following:

    • End of day (EOD): Order will expire at 17:00 ET at the end of the trading day you placed it.

    • Good Til' Canceled (GTC): Order will remain active until you highlight it and click the cancel button.


  4. Select 'Buy' or 'Sell' from the drop down list.

  5. Select the number of lots from the drop down list.

  6. Choose the Order Basis: either 'Limit' or 'Stop Loss'.

  7. Enter the Order Rate: The rate at which the order will be executed. You may enter in ANY rate other than the current spot rate. Fill this in manually. Note: If you have specified a default number of pips away for stop loss orders, this field will automatically populate with your default. This user-configurable default can be set or edited in the Logon window.

  8. Confirm the order: When all the fields are completed and you have checked your order, click "Confirm" and your order will appear in the Order Management screen. To Abort the order: Choose "Abort" to cancel the pending order and return to the order management window. **If you click "Abort" before clicking "Confirm", you will return to the order management window and no order will be placed.

**IMPORTANT -- Orders remain open until they are triggered or cancelled. If you close out a position manually, you must cancel any order(s) relating to that position.


'One Cancels Other' (OCO) orders:



The lower half of the form will be highlighted. Enter both sides of the OCO order as directed. Remember, if one side of your OCO is filled, the other is automatically canceled.


'If Then' order:



The lower half of the form will expand for the second leg of the If Then order. Place either your single Then order in this section. Remember, canceling any part of an If Then order will result in the entire order being canceled.


'If Then / OCO' order:



The lower half of the form will expand for the OCO leg of the If Then order. Place either your OCO order in this section. Remember, canceling any part of an If Then order will result in the entire order being canceled.


'Trailing Stop' order: **Demo system only**



Select Trailing Stop from the 'Type' drop down menu, as shown. In addition to the regular order parameters, you will be prompted to specify Trailing Points, which is the number of pips from the current rate at which you want the stop loss order to be executed. The system accepts Trailing Points between 10 and 1,000.

In this example, the live rate is 1.2701 and the Trailing Points are set to 30. The sell stop order will be filled if EUR/USD bid reaches 1.2671 (live rate – 30 pips). If EUR/USD moves in your favor, e.g. to 1.2735, the stop order will automatically adjust to 1.2705 - always 30 pips from the live rate.

The advantage of a trailing stop is that the order automatically "trails" the rate if the position moves in your favor, offering the potential for greater gains while still guarding against price declines.

Trailing stops are bolded for easy identification.

*Trailing stops can not be edited; instead, cancel and enter a new order.