FOREX Trader(FOREXTrader) insturctions
Fees
FOREX.com charges no trading commissions or transaction fees. FOREX.com charges a data fee of $15 per month if there is no trading activity or no open positions for a period of 90 days or more. Contact us if you wish to disable your account temporarily and avoid this fee.
Order Basis/Mode
Market orders:Market orders are executed at the best available price at the time the order is received. always check the market price before you make orders.
Limit Orders: Limit orders are executed at the order rate or better. Sell limit orders are filled when the bid(买家出价) reaches the requested rate; buy limit orders are filled on the offer(zxxu:to say, immidiately making the order).
Stop Orders: Stop orders become market orders when a predefined order rate is reached. Stop orders are executed at the best available price, depending on available liquidity. Buy Stop orders are filled on the offer price and Sell Stop orders are filled at the bid price.
Orders can be set to open a new position or close an existing position. To set a limit order to open a new position, you are trying to get a “better” price to buy or sell. Let’s say USDCAD is currently at 1.3000, a “better” price to buy is a price lower than 1.3000 or a “better” price to sell is a price higher than 1.3000. Stop is basically the opposite of limit, so you would set a buy order higher than the current price or a sell order lower than the current price.If you set an order to close a position, then limit means take profit and stop means stop loss.
Order Expiry
End of Day (EOD) orders automatically expire at 5pm ET on the same day the order was entered(Note:opening prices may differ significantly from the previous day's close.). Good till Cancelled (GTC) orders automatically expire on the Saturday following the 90th calendar day from the date the order was entered.
Orders Left Over the Weekend or Holidays
FOREX.com's trading hours are from Sunday at 5pm ET through Friday at 5pm ET. Orders left pending over a weekend or holiday period will not be executed until FOREX.com resumes regular trading hours.
Order Types
One Cancels Other (OCO's):A contingent(有条件的) order providing that one part of the order is cancelled if the other part is executed. If one part of the order is filled, the other is automatically cancelled.
An If/Then order provides that if the first order ("If" order) is executed, the second order ("Then" order) becomes an active unassociated single order. Unassociated orders are not attached to a trade and act independently of any position updates. In cases where the “If” order does not execute, the “Then” single order will remain dormant and will not be executed when the market reaches the specified rate. When either part of an If / Then order is cancelled, all parts of the order are cancelled as well.
An If/Then OCO provides that if the first order ("If" order) is executed, the second order ("Then" order) becomes an active unassociated OCO order. The execution of either one of the two "Then" orders automatically cancels the other. When any part of an If / Then OCO order is cancelled, including either leg of the OCO order, all parts of the order are cancelled as well.
A trailing stop allows a trade to continue to gain in value when the market price moves in a favorable direction, but automatically closes the trade if the market price suddenly moves in an unfavorable direction by a specified distance.
When the market price moves in a favorable direction, the trigger price follows the market price by the specified stop distance. If the market price moves in an unfavorable direction, the trigger price stays stationary and the distance between this price and the market price becomes smaller. If the market price continues to move in an unfavorable direction until it reaches the trigger price, an order is triggered to close the trade.
