Orders
Orders are aimed at executing a trade when a selected target rate or better is reached. An order will be executed if the current market rate of an instrument reaches the selected target rate.
Switching to orders screen
Step 1. To set an order, you can use either the ‘Trade Box’ arena in the visual mode, or the ‘Expert Mode’ screen.
Step 2. To view any pending orders, simply go to the Orders tab.
Submitting an order
After clicking the ‘Create Order’ tab, you will be displayed with the following:
The Create Order screen enables you to define the requested order properties. Please note that Stop Loss and Take Profit selection are in configured in US Dollar values. Stop Loss can only be set at the maximum value of the position i.e. not more than %100 of your trade’s invested amount.
Viewing the order
After submitting the order request, you will be able to follow the order details in the ORDERS tab.
Order Details
Action – The direction (buy or sell) and instrument you selected.
Amount – The amount in US Dollars you are prepared to invest for this single order.
At rate – Displays the requested target rate for this order.
Date/Time – The date and time when your order was submitted.
Status – Displays the status of the order. There are several status types:
WAITING – An order is waiting to be filled; target price has not yet been reached.
EXECUTING – When the target price is reached, the order will be filled to become an Open Trade.
CANCELED – Will be displayed momentarily In any case of an Order cancellation.
Close – A close button enables you to remove a waiting order.
Please note: While the order is being filled the status of the order will change to executing and cannot be modified or canceled.
Once an order was executed, it will move from the ORDERS tab to the OPEN TRADES tab
Canceling a waiting order
If at any time the order is in waiting status, you can cancel the pending order by clicking the close button. Confirmation screen will then be displayed to confirm order cancelation:
Important notes:
1. Orders will not be executed if there are no sufficient funds in your account to accommodate for the requested trade.
2. Orders that did not execute prior to the weekend market break will stay in pending mode and can be executed once the markets resume full activity.
3. Under extreme volatile market conditions, orders can be executed close to your target rate, which could be slightly higher or lower than target rate.
4. All orders are good until canceled meaning orders will be kept waiting always until either filled or canceled by the user.