Online Trading

Types of Orders

The fx trading trading platform provides sophisticated order entry and tracking of market orders, entry orders, stop/limit entry orders, and stop-loss orders. All of the above orders are Good Until Cancelled (GTC), which is valid until the order is executed or cancelled.

Orders

EFS Trader4 features a variety of orders that traders can execute:

Market Order: A trade is executed at the current market price. This order is quick and efficient. Click on the currency pair you want to trade then click on the price and the trade is executed!

Entry Order*: Trader specifies the price he/she wants to open the position. Position is not executed until exchange rate hits the specified price. Orders are guaranteed ONLY in normal market conditions.*

Stop/Loss Orders*: Used to pre-determine what loss a trader is willing to take. Orders are guaranteed ONLY in normal market conditions.*ket conditions.*

Limit Orders: Used to pre-determine what profit a trader is looking to make.

Trailing Stop Orders: The EFS Trader 4 has an algorithm to manage Stop Loss orders. Once a trailing stop has been placed (for example, trailing stop's value is 15 pips) the following occurs:

No Stop Loss order will be placed until the open position is in a profit of at least 15 pips. EFS Trader 4 then sends an instruction to place the Stop Loss order 15 pips higher or lower than the current price.

Subsequently, each time the difference between the current price and the order level exceeds 15 pips; EFS Trader4 sends the instruction to modify the Stop Loss order to a level 15 pips higher or lower than the current price. As a result, the Stop Loss order becomes closer to the current price. Please note-The Meta Trader Broker 4 platform needs to be open and operational for the trailing order feature to work properly.

Important: It is very important to note that no Stop Loss order will be placed until the market moves in your favor as mentioned above. Therefore until this has happened, to limit losses, a separate Stop Loss would need to be placed manually.

* All stop-loss,limit and entry orders are guaranteed against slippage except in abnormal or volatile market conditions. All quotes and trades are subject to the terms and conditions of the Client Agreement accessible through this website