Comércio de forex de alto risco

Divulgação de risco.
A Admiral Markets é uma marca reconhecida mundialmente, realizada pelo Admiral Markets Group AS, segundo a qual as empresas de investimento da Admiral Markets oferecem seus serviços na União Européia e na área econômica do EEE. Todas as seguintes empresas de investimento estão reguladas pela Directiva Mercados em Instrumentos Financeiros (DMIF) em relação a outros escritórios da União Européia no âmbito do Regime de Passaporte da MiFID. Outras políticas, às quais o Cliente concorda quando decidem receber o serviço de investimento fornecido pela Admiral Markets UK Ltd e pela Admiral Markets AS, estão disponíveis em nosso site:
O objetivo deste documento é aconselhá-lo sobre os riscos associados com a negociação de Contratos de Diferença (CFDs) e Câmbio (Forex, FX). Observe que a divulgação de riscos dada não contém todos os riscos envolvidos na negociação com CFDs e instrumentos Forex. O guia deve ser examinado por todos os novos clientes potenciais para compreender e reconhecer os possíveis riscos associados à negociação. Ao analisar a divulgação de risco dada, você não tem obrigação de se comprometer com o serviço de investimento fornecido por nós. No entanto, uma vez que você decidiu receber serviços de investimento de nós, você também confirma que você leu, compreendeu e reconheceu que a negociação envolve riscos. Cada Cliente deve garantir que sua decisão de receber serviços de investimento seja feita de forma informada. Se você não tiver certeza ou não entender este documento de divulgação de risco, procure orientações de um consultor financeiro independente ou entre em contato com o seu representante local da Admiral Markets, que ficará feliz em explicar os riscos envolvidos.
POR FAVOR, LEIA A SEGUINTE ANTES DE COMPRAR QUALQUER NEGÓCIO COM MERCADOS ADMIRADOS. A NEGOCIAÇÃO NÃO É ADEQUADA PARA TODOS. TRADING FOREX e CFDs envolvem alto risco e podem liderar a perda completa de seus fundos.
Antes de negociar CFDs e Forex, você deve estar ciente dos riscos envolvidos. O alto grau de alavancagem associado a esses tipos de investimentos significa que o grau de risco em comparação com outros produtos financeiros é maior. A alavancagem (ou negociação de margem) pode funcionar contra você, resultando em perda substancial, bem como para você, resultando em ganho substancial. A negociação na margem envolve um alto nível de risco e não é adequada para todos os investidores. O alto grau de alavancagem pode funcionar contra você, bem como para você e as velocidades, quais lucros e perdas podem ocorrer, significa que os clientes devem monitorar as posições de perto - é a única responsabilidade dos clientes monitorar negócios abertos. Antes da negociação, você deve considerar cuidadosamente seus objetivos de investimento, nível de experiência financeira e apetite de risco. Almirante Mercados é "Execução Somente" local de negociação. Nenhum conselho sobre sua atividade comercial será dado! O desempenho passado desses tipos de investimentos não garante resultados futuros. Você deve ter em mente quaisquer comissões e passivos fiscais que você pessoalmente terá de investir conosco. O Almirante Mercados não aceita qualquer responsabilidade por qualquer imposto que você possa ser obrigado a pagar com os lucros obtidos durante o período em que você é detentor de conta conosco. Existe sempre uma relação entre alta recompensa e alto risco. Qualquer tipo de especulação comercial ou comercial que possa render rendimentos excepcionalmente elevados é sujeita a alto risco. Apenas os fundos excedentes devem ser colocados em risco e qualquer pessoa que não tenha esses fundos não deve participar na negociação de CFDs ou Forex. Diferentes instrumentos envolvem diferentes níveis de exposição ao risco e, ao decidir se negociam esses instrumentos, você deve estar ciente dos seguintes pontos:
Os CFDs (Contratos para Diferenças) são produtos financeiros complexos que, em geral, apenas fecham quando um cliente escolhe fechar uma posição aberta existente e, portanto, geralmente não possui uma data de vencimento estabelecida.
CFDs podem ser comparados com futuros, que podem ser contratados em relação a certos índices, metais preciosos, petróleo, commodities, criptografia ou instrumentos financeiros. No entanto, ao contrário de outros futuros, esses contratos só podem ser liquidados em dinheiro. Investir em um CFD traz riscos semelhantes a investir em um futuro e você deve estar ciente disso. As transações em CFDs também podem ter um passivo contingente e você deve estar ciente das implicações deste, conforme estabelecido nos parágrafos 3, 5, 17 e 18 abaixo. Todos os negócios CFD são contratos de diferença, o que significa que os clientes não têm direito ao instrumento subjacente ou aos direitos, que estão anexados, a menos que especificamente indicado no CFD. Isso inclui nenhum direito sobre as ações de referência ou qualquer direito de voto.
2. Investir no rolamento de Forex, índices, metais preciosos, petróleo e commodities.
Investir no rolamento de Forex e CFD's em criptografia, índices, metais preciosos, petróleo e commodities traz riscos semelhantes ao investir em um futuro e você deve estar ciente disso. Tais transacções com margem de lucro também podem ter um passivo contingente e você deve estar ciente das implicações deste como estabelecido nos parágrafos 3 e 4 abaixo.
Além das divulgações padrão do setor contidas nesta Divulgação de Risco, você deve estar ciente de que o Forex e o CFD's em circulação em mercados de índices, metais preciosos, petróleo e commodities são algumas das formas mais arriscadas de investimento disponíveis nos mercados financeiros e podem não ser adequados para todos os investidores. Dada a possibilidade de perder um investimento inteiro, a especulação nos mercados de metais preciosos, índices, petróleo, commodities ou cambiais só deve ser realizada com fundos de capital de risco que, se perdidos, não afetarão significativamente o bem-estar financeiro de sua pessoa ou instituição.
Os mercados estrangeiros envolvem riscos diferentes dos mercados nativos do cliente. Em alguns casos, os riscos serão maiores. O potencial de lucro ou perda de transações em mercados estrangeiros ou em moeda estrangeira será afetado pelas flutuações nas taxas de câmbio. Tais riscos aumentados incluem os riscos de mudanças de políticas políticas ou econômicas em uma mídia estrangeira, o que pode alterar substancial e permanentemente as condições, os termos, a comercialização ou o preço de uma moeda estrangeira.
4. Ordens ou estratégias de redução de risco.
A colocação de certas ordens (por exemplo, "perda de parada" ou "limites de parada") que se destinam a limitar perdas a determinados montantes nem sempre funciona porque condições de mercado ou limitações tecnológicas podem tornar impossível a execução de tais pedidos. Se um cliente negociasse usando tais ordens ou estratégias, eles aceitam esse risco.
5. Transações de passivos contingentes.
Forex e CFDs são operações com margens que exigem que você faça uma série de pagamentos em relação ao valor do contrato, em vez de pagar o valor total do contrato imediatamente. Você pode sustentar uma perda total da margem que você deposita com a Admiral Markets para estabelecer ou manter uma posição. O Almirante Mercados revaloriza suas posições abertas continuamente durante cada dia útil, e qualquer lucro ou perda é refletido imediatamente em sua conta e uma perda pode resultar em você ser chamado a pagar margem adicional substancial em curto prazo para manter suas posições abertas.
O Almirante Mercados também pode alterar suas taxas de margem inicial e / ou requisitos de negociação nocional a qualquer momento, informando os clientes antes da mudança - o que também pode resultar em uma alteração na margem que você precisa manter. Se você não manter a margem suficiente em sua conta em todos os momentos e / ou fornecer esses fundos adicionais dentro do tempo necessário, suas posições abertas podem ser fechadas com uma perda e você será responsável por qualquer déficit resultante.
Embora os instrumentos de derivativos possam ser utilizados para o gerenciamento do risco, alguns investimentos não são adequados para muitos investidores. A negociação de Forex e CFDs possui um alto grau de risco. A engrenagem e alavancagem que é obtida com CFDs e Forex trading significa que você só precisa colocar um pequeno depósito para começar a negociar com a Admiral Markets, embora este pequeno depósito possa resultar em grandes perdas ou grandes ganhos. As transações altamente alavancadas estão sujeitas a mudanças significativas de valor como resultado de mudanças relativamente pequenas no valor ou nível de um fator de mercado subjacente ou relacionado.
7. Transações Over-the Counter (OTC).
Ao negociar CFDs, você especula sobre a mudança de preço antecipada para um subjacente específico. Essa negociação não ocorre em um mercado regulamentado. Você entrará diretamente em um contrato com a Admiral Markets em relação ao instrumento financeiro ou outro subjacente que deseja negociar sob um CFD. Todas as posições abertas com a Admiral Markets devem ser fechadas com a Admiral Markets e não podem ser fechadas com nenhuma outra parte. A negociação de transações financeiras de OTC pode expô-lo a riscos maiores do que a negociação em um mercado regulamentado porque não há mercado no qual fechar suas posições abertas e os preços e outras condições são estabelecidos por nós sujeitos a quaisquer requisitos legais / regulamentares. As transações OTC podem aumentar o risco de liquidez e introduzir outros fatores de risco significativos: pode ser impossível, por exemplo, avaliar o valor de uma posição resultante de uma transação fora do mercado ou determinar a exposição ao risco. Além disso, os preços de oferta e os preços de oferta não precisam ser cotados pela Admiral Markets e, mesmo quando eles estão, o Admiral Markets pode achar difícil estabelecer um preço justo, particularmente quando a troca ou o mercado relevante para o subjacente é fechado ou suspenso.
Você também está exposto ao risco de inadimplência do Almirante Mercados; no entanto, no caso improvável, isso ocorre, somos membros dos Esquemas de Compensação de Serviços Financeiros.
Os preços / cotações publicados nas plataformas de negociação do Almirante Mercados (a "plataforma") podem não necessariamente refletir o mercado mais amplo. A Admiral Markets selecionará os preços de fechamento a serem usados ​​na determinação dos requisitos de margem e na marcação periódica para comercializar as posições em sua conta e fechar essas posições. Embora o Almirante Markets tenha esperado que esses preços estejam razoavelmente relacionados com os disponíveis no mercado interbancário ou em qualquer mercado apropriado de câmbio ou outros mercados financeiros (o "Mercado de Referência"), os preços que o Almirante Mercados usam podem variar dos disponíveis para os bancos e outros participantes no mercado de referência. Consequentemente, a Admiral Markets pode exercer um considerável poder discricionário ao estabelecer os requisitos de margem e cobrar fundos de margem. Como os produtos estão em parte relacionados ao subjacente, você deve garantir que você esteja ciente dos riscos envolvidos no subjacente, incluindo flutuação cambial, volatilidade e gapping (uma súbita mudança de preço que pode ser causada por muitos fatores, incluindo, mas não exclusivamente, eventos econômicos, anúncios de mercado e períodos em que a negociação no subjacente não ocorre).
Uma parada não garantida não irá protegê-lo contra esse risco, pois não é imediato e apenas aciona uma ordem para fechar a posição no preço disponível mais próximo.
Várias situações, desenvolvimentos ou eventos podem surgir durante um fim de semana, quando os mercados geralmente fecham para negociação, o que pode fazer com que os mercados se abram a um preço significativamente diferente de onde fecharam na tarde de sexta-feira. Você não poderá usar a Plataforma para colocar ou alterar pedidos durante o fim de semana e em outros momentos em que os mercados geralmente estão fechados. Existe um risco substancial de que as ordens de stop-loss deixadas para proteger as posições abertas realizadas durante o fim de semana serão executadas em níveis significativamente maiores do que o preço especificado. Ao fazer isso, um cliente aceita esse risco e será responsável por qualquer déficit resultante.
A negociação de contratos OTC através da Plataforma pode diferir da negociação em outros sistemas de negociação eletrônica, bem como da negociação em um mercado convencional ou aberto. Você estará exposto a riscos associados ao sistema eletrônico de negociação, incluindo a falha de hardware e software e tempo de inatividade do sistema, em relação à Plataforma, seus sistemas e a infraestrutura de comunicação (por exemplo, a Internet) que conecte a Plataforma com você.
O comércio intradía on-line pode levá-lo a fazer inúmeras transações.
Em determinadas condições, pode ser difícil ou impossível liquidar uma posição. Isso pode ocorrer, por exemplo, em momentos de movimento de preços rápidos, onde o preço de um subjacente aumenta ou cai durante uma sessão de negociação de tal forma que a negociação no subjacente é restrita ou suspensa. Onde isso ocorre, o cliente aceita qualquer risco associado e que será responsável por qualquer déficit resultante. O cliente também deve estar ciente de que, em determinadas circunstâncias, o Almirante Mercados pode ser obrigado a fechar as posições devido a instruções de regulamentação ou de troca e, como tal, o Almirante Mercados não é responsável por quaisquer perdas que possam resultar.
Antes de começar a negociar, você deve obter detalhes de todas as comissões e outros encargos pelos quais você será responsável, conforme indicado no Programa de Tarifas disponível no site da Admiral Markets. Os clientes devem se conscientizar dos custos ou passivos potenciais que poderiam resultar dessa posição, incluindo, mas não exclusivamente: Swaps, Ações Corporativas, como Direitos, Dividendos, Divisões de estoque, etc.
Qualquer insolvência ou inadimplência do cliente pode levar a liquidação ou encerramento de posições sem o seu consentimento. Além disso, você transferirá propriedade total e título para uma parcela de todo o dinheiro que você depositará na Admiral Markets. Isso representará um montante necessário para garantir seus passivos atuais ou futuros, reais ou contingentes para a Admiral Markets, incluindo os requisitos de margem.
O Almirante Mercados determinará o montante de dinheiro necessário para garantir suas obrigações para a Admiral Markets, a seu exclusivo critério, diariamente (com base em suas posições abertas diárias e negociação, levando em conta as condições do mercado), cujo valor pode ser maior do que os requisitos de margem . Você não terá nenhuma reclamação proprietária sobre essa quantia de dinheiro, que não estará sujeita a segregação ou outras obrigações de acordo com as regras de dinheiro do cliente em vigor de tempos em tempos de acordo com a lei aplicável e pode ser tratada pela Almirante Mercados por conta própria. Essa quantia de dinheiro pode, portanto, ser irrecuperável em caso de insolvência ou inadimplência da Admiral Markets.
A Admiral Markets não se responsabiliza por quaisquer perdas que possam surgir como resultado de uma revisão tardia ou de comunicações não recebidas enviadas pela Admiral Markets aos seus clientes. O cliente aceita ainda que quaisquer perdas decorrentes do acesso não autorizado de um terceiro à plataforma de negociação dos clientes não sejam responsáveis ​​se a Admiral Markets, exceto no caso de negligência grave em nome da empresa ou de seus funcionários. O cliente é responsável por manter todos os detalhes de login seguros e a Admiral Markets recomenda fortemente que os detalhes do usuário não sejam gravados ou salvos.
Além disso, qualquer cliente é informado e aceita que o principal método de comunicação será em formato eletrônico, por exemplo, por e-mail e informações postadas em nossos sites.
O Almirante Mercados não fornece conselhos de investimento e é um local de negociação apenas para a execução. Embora possamos sob nossas autorizações fazer avaliações gerais dos mercados, tais avaliações não são conselhos de investimento individuais e não levam em consideração suas circunstâncias individuais. Qualquer decisão de negociação é feita apenas pelo Cliente.
Todas as informações gerais que fornecemos em nossa análise, webinars (seminários on-line e seminários e vídeos), em páginas internas ou através de recursos externos, como canais do YouTube, são para informações gerais e são as perspectivas de mercado pessoal do moderador ou autor. Não se destina a ser e não deve ser considerado um conselho para vender, comprar ou manter um instrumento de negociação em qualquer circunstância.
Os analistas e autores podem negociar ou deter ou investir na negociação de produtos, como ações, Forex, CFDs, commodities, Futuros e outros instrumentos.
Sob a DMIF, somos obrigados a avaliar a adequação deste tipo de produto para uma pessoa genérica que fornece informações similares a você. Isso não significa, ao permitir que você abra uma conta, estamos fornecendo conselhos de investimento individuais que este produto é de fato adequado para você em suas circunstâncias individuais - em vez disso, estamos indicando que pode ser adequado para alguém que cai na mesma categoria geral de conhecimento e experiência. Com a avaliação de se o serviço é apropriado para você, também reunimos informações sobre sua experiência comercial anterior, informações sobre ativos financeiros, nível de educação e outras informações consideradas necessárias e proporcionadas. Não monitoramos que a sua situação financeira continua a ser a mesma. Os clientes assumem a responsabilidade exclusiva para garantir que estamos atualizados com qualquer informação relevante que possa afetar a adequação dos serviços oferecidos.
17. Ações corporativas: compartilhe CFDs.
Observe que o tratamento que você recebe durante uma ação corporativa pode ser menos favorável que, se você possuísse o instrumento subjacente porque as mudanças que fazemos podem precisar ser reacionárias e em vigor antes da exigida pela ação corporativa. Portanto, o tempo que você deve tomar decisões pode ser consideravelmente menor; as opções disponíveis podem ser mais restritivas / menos vantajosas e podem ser tal que não há nenhuma opção para você fechar a posição. Dado que os eventos corporativos podem muitas vezes ser anunciados em um aviso extremamente curto, você pode não ter oportunidade ou opção para fechar posições para evitar tais conseqüências e tais ações podem exigir que você forneça mais fundos para cobrir a margem com um pré-aviso muito curto.
18. Curto em ações de CFDs.
A falta de compartilhamento de CFDs tem riscos adicionais que não se aplicam à posição longa. Isso inclui, mas não exclusivamente, você será obrigado a levar o outro lado de uma oportunidade de compra, e. uma questão de direitos resultando em você ficar mais curto no que poderia ser preços desfavoráveis ​​ou pagar uma soma para comprar de volta os direitos cuja escolha pode ser decidida pela Admiral Markets sem sua contribuição, em termos decididos pela Admiral Markets ou a entrada seja exigida em menor aviso do que seria sobre a participação subjacente; você pode experimentar recompras das forças devido a ações corporativas, condições de empréstimo de ações ou requisitos / mudanças regulatórias, e você pode enfrentar taxas de empréstimo variáveis ​​enquanto a posição estiver aberta.
É responsabilidade dos clientes monitorar em todos os momentos as posições que abriram e você sempre deve estar em condições de fazê-lo. Enquanto tentaremos fechar as posições uma vez que sua margem foi esgotada, não podemos garantir que isso seja possível e, portanto, você continuará responsável por qualquer déficit resultante.
Este documento deve ser lido em conjunto com: Termos de Negócios, Política de Melhor Execução e outros documentos fornecidos ou disponibilizados ao cliente no nosso site.
20. Ajustes de dividendos nas posições CFD.
20.1 Ajustes de dividendos em CFD de índice de caixa.
Quando qualquer ação subjacente que faz parte de um índice de caixa CFD vai ex-dividendo, o índice de caixa CFD será ajustado ao preço para refletir esse dividendo. A proporção ponderada do dividendo aplicável dentro do índice de caixa CFD será creditada na conta do cliente para posições longas e debitada por créditos curtos.
20.2 Ajustes de Dividendos em CFD de Índice de Ações.
Quando uma ação que é um ativo subjacente de uma ação CFD é ex-dividendo, a ação CFD será ajustada ao preço para refletir esse dividendo. O valor do dividendo em ações aplicável será creditado na conta do cliente para posições longas e debitado por créditos curtos.
20.3 Impostos retidos na fonte sobre os ajustes de dividendos.
Os pagamentos de dividendos serão creditados na conta do cliente com quaisquer impostos retidos na fonte aplicáveis. O Almirante Mercados atualmente não suporta ou oferece taxas de imposto de retenção preferencial que possam estar disponíveis por residência ou status legal.
Posições cobertas - tenha em atenção que as posições cobertas (posição simultânea longa e curta em um determinado instrumento financeiro) podem não estabilizar completamente seu nível de margem, portanto, um Stop Out na sua conta pode ocorrer mesmo quando essas posições cobertas estão em vigor. Pode acontecer devido às seguintes circunstâncias:
Os lucros / perdas em posições curtas são calculados com o preço Ask, enquanto os Lucros / Perdas em posições longas são calculados com o preço da Oferta. Em condições de negociação anormais, o spread pode se alargar levando a perdas na sua conta sendo maior do que a margem detida e, portanto, suas posições sendo liquidadas. Os lucros / perdas nas posições são calculados na moeda base do instrumento negociado e depois recalculados na moeda da conta com o uso das taxas de câmbio da plataforma. Se as posições cobertas forem abertas em diferentes horários / preços, os lucros / perdas na conta podem estar sujeitos a flutuações do preço da moeda da conta, resultando em perdas maiores do que a margem mantida e, portanto, suas posições sendo liquidadas.
22. Isenção de Tradução.
O site do Admiral Markets usa várias ferramentas de tradução para traduzir páginas neste site para uso em outros países. As ferramentas de tradução permitirão compreender a intenção geral do conteúdo original, mas nem sempre produzirão uma tradução correta. O texto oficial é a versão em inglês do admiratório de sites do Almirante Mercados. Quaisquer discrepâncias ou diferenças criadas na tradução não são vinculativas e não têm efeito legal para fins de cumprimento ou execução. Se surgirem dúvidas sobre a precisão das informações apresentadas pela versão traduzida do site, consulte a versão oficial em inglês do site. O Almirante Mercados não se responsabiliza pela precisão. Devido às complexidades do idioma e à possibilidade de uma série de traduções e interpretações diferentes de palavras e frases particulares, existem traduções em limitações inerentes. O Almirante Mercados recomenda que você examine e verifique a tradução resultante do uso deste serviço e não aceita qualquer responsabilidade pela precisão.
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Aviso de risco: a negociação Forex (câmbio) ou CFDs (contratos por diferença) na margem comporta um alto nível de risco e pode não ser adequado para todos os investidores. Existe a possibilidade de você sofrer uma perda igual ou maior que o seu investimento inteiro. Portanto, você não deve investir ou arriscar dinheiro que não pode perder. Antes de usar os serviços Admiral Markets UK Ltd ou Admiral Markets AS, por favor, reconheça todos os riscos associados à negociação.
O conteúdo deste site não deve ser interpretado como um conselho pessoal. Recomendamos que você procure um conselho financeiro independente.
Todas as referências neste site para "Almirantes Mercados" referem-se conjuntamente à Admiral Markets UK Ltd e ao Almirante Mercados AS. As empresas de investimento da Admiral Markets são de propriedade total do Admiral Markets Group AS.
A Admiral Markets UK Ltd é registrada em Inglaterra e no País de Gales sob o Companies House - número de registro 08171762. O Admiral Markets UK Ltd é autorizado e regulado pela Autoridade de Conduta Financeira (FCA) - número de registro 595450. O escritório da Admiral Markets UK Ltd é: 16 St. Clare Street, Londres, EC3N 1LQ, Reino Unido.
O Almirante Markets AS está registrado na Estónia - número de registro comercial 10932555. O Admiral Markets AS é autorizado e regulado pela Autoridade Estoniana de Supervisão Financeira (EFSA) - número de licença de atividade 4.1-1 / 46. O escritório da Admiral Markets AS é: Ahtri 6A, 10151 Tallinn, Estônia.

Riscos de Execução.
Nenhum Escritório de Negociação e Escritório de Negociação.
No interesse de proporcionar aos nossos clientes a melhor experiência comercial, sentimos que é imperativo que todos os comerciantes, independentemente da experiência anterior, estejam bem informados sobre os riscos de execução envolvidos na negociação na FXCM.
Aqui você encontrará informações detalhando os riscos de execução associados aos tipos de execução Forex e CFD da FXCM. Selecione um tipo de produto / execução para começar:
Risco de negociação Forex Execution Desk.
INVESTIMENTO DE ALTO RISCO.
A negociação de câmbio na margem possui um alto nível de risco e pode não ser adequada para todos os investidores. Antes de decidir comercializar esses produtos oferecidos pela Forex Capital Markets, Limited ("FXCM"), você deve considerar cuidadosamente seus objetivos, situação financeira, necessidades e nível de experiência. Os produtos são destinados a clientes profissionais e de varejo. O Forex Capital Markets, Limited é autorizado e regulado pela Autoridade de Conduta Financeira do Reino Unido ("FCA") [Registo nº 217689]. A FXCM mantém sua sede social em 20 Gresham Street, 4th Floor, Londres EC2V 7JE, Reino Unido. A FXCM pode fornecer comentários gerais sem considerar seus objetivos, situação financeira ou necessidades. O conselho geral dado, ou o conteúdo deste site não se destina a ser um conselho pessoal e não deve ser interpretado como tal. Existe a possibilidade de que você possa sustentar uma perda em excesso de seus fundos depositados. Você deve estar ciente de todos os riscos associados à negociação na margem. A FXCM recomenda que você procure o conselho de um consultor financeiro independente.
OPINIÕES DO MERCADO FXCM.
Quaisquer opiniões, notícias, pesquisas, análises, preços ou outras informações contidas neste site são fornecidas como comentários gerais do mercado e não constituem conselhos de investimento. A FXCM não aceita a responsabilidade por qualquer perda ou dano, incluindo, sem limitação, qualquer perda de lucro, que possa surgir direta ou indiretamente do uso ou dependência de tal informação.
RISCOS DE NEGOCIAÇÃO DE INTERNET.
Existem riscos associados à utilização de um sistema de negociação de execução de negócios baseado na internet, incluindo, mas não limitado a, falha no hardware, software e conexão à internet. Uma vez que a FXCM não controla a potência do sinal, a sua recepção ou roteamento através da internet, a configuração do seu equipamento ou a confiabilidade de sua conexão, não podemos ser responsáveis ​​por falhas, distorções ou atrasos na comunicação ao negociar pela internet. A FXCM emprega sistemas de backup e planos de contingência para minimizar a possibilidade de falha do sistema, o que inclui permitir que os clientes troquem por telefone.
MODELO DE EXECUÇÃO FOREX DE ESCRITÓRIO.
A FXCM oferece a execução de forex através de um modelo de execução da Dealing Desk. Neste modelo, a compensação da FXCM pode não ser limitada à nossa marcação padrão, e nossos interesses podem estar em conflito direto com o seu. A FXCM enfrenta um risco de mercado como resultado da entrada em negociações com você. A FXCM pode tomar medidas para mitigar o risco decorrente da tomada de mercado de forma mais efetiva, a nosso exclusivo critério e a qualquer momento e sem consentimento prévio, transferindo sua conta subjacente para a nossa oferta de execução NDD. A FXCM também pode optar por transferir sua conta para a nossa oferta de Negociação Sem Negociação (NDD) se o saldo de capital em sua conta exceder o máximo de 20.000 unidades monetárias em que a conta é denominada. O patrimônio da conta é definido como o saldo de sua conta mais o P / L flutuante de suas posições abertas.
A execução da negociação e a negociação não são realizadas em uma troca. A FXCM atua como uma contraparte nessas transações e, o que significa que o FXCM atua como o comprador quando vende e o vendedor quando compra. Como resultado, os interesses da FXCM podem estar em conflito com o seu. Salvo especificação em contrário em seu contrato escrito ou outros documentos escritos, a FXCM estabelece os preços a que oferece para negociar com você. Os preços oferecidos pela FXCM podem não ser os melhores preços disponíveis e a FXCM pode oferecer preços diferentes para clientes diferentes. Se a FXCM optar por não cobrir sua própria exposição comercial, então você deve estar ciente de que a FXCM pode ganhar mais dinheiro se o mercado for contra você.
Os pares de moeda listados abaixo estão disponíveis na oferta de execução da Dealing Desk. A FXCM não garante que as cotações, os preços ou os spreads sejam sempre melhores em uma forma de execução, em comparação com a outra. Os clientes devem considerar muitos fatores ao decidir qual tipo de execução melhor se adapta às suas necessidades (por exemplo, conflito de interesses, estilo de negociação ou estratégia, etc.).
A FXCM tem como objetivo proporcionar aos clientes a melhor execução disponível e obter todos os pedidos preenchidos à taxa solicitada. No entanto, há momentos em que, devido ao aumento da volatilidade, as ordens podem estar sujeitas a uma derrapagem. O deslizamento ocorre com maior frequência durante eventos de notícias fundamentais ou períodos de alta volatilidade. Instâncias como rollover comercial (5pm ET) é um período conhecido em que a quantidade de liquidez tende a ser limitada, já que muitos provedores de liquidez liquidam as transações desse dia. Para obter mais informações sobre o fato de o rollover ocorrer, consulte a seção "Custos de rolagem". Durante períodos como esses, o tipo de pedido, a quantidade exigida e as instruções de ordem específicas podem afetar a execução geral que você recebe.
A volatilidade no mercado pode criar condições em que as ordens são difíceis de executar. Por exemplo, o preço que você recebe na execução do seu pedido pode ser muitos pips longe do preço selecionado ou cotado devido ao movimento do mercado. Nesse cenário, o comerciante procura executar a um preço determinado, mas em uma fração de segundo, por exemplo, o mercado pode ter se afastado significativamente desse preço. A ordem do comerciante seria então preenchida no próximo preço disponível para essa ordem específica. A FXCM fornece uma série de tipos de pedidos básicos e avançados para ajudar os clientes a mitigar o risco de execução. Uma maneira de mitigar o risco associado ao deslizamento é utilizar o recurso Market Range (Desvio máximo para usuários MT4) nas plataformas do FXCM. O recurso Market Range permite que os comerciantes especifiquem a quantidade de deslizamento potencial que estão dispostos a aceitar em uma ordem de mercado, definindo um intervalo. Zero indica que não é permitido nenhum deslizamento. Ao selecionar zero no Market Range, o comerciante solicita que sua ordem seja executada apenas no preço selecionado ou cotado, e não em qualquer outro preço. Os comerciantes podem optar por aceitar uma gama mais ampla de deslizamento admissível para aumentar a probabilidade de ter suas ordens executadas. Neste cenário, a ordem será preenchida com o melhor preço disponível dentro do intervalo especificado. Por exemplo, um cliente pode indicar que ele está disposto a ser preenchido dentro de 2 pips do preço solicitado. O sistema preencheria o cliente dentro do intervalo aceitável (neste caso, 2 pips) se existir liquidez suficiente. Se o pedido não puder ser preenchido dentro do intervalo especificado, a ordem não será preenchida. Por favor, note que as ordens do Market Range especificam apenas um intervalo negativo. Se uma taxa mais preferencial estiver disponível no momento da execução, os comerciantes não estão limitados pelo intervalo especificado para a quantidade de melhoria de preço positiva que eles podem receber.
Além disso, quando desencadeada, as ordens paradas se tornam uma ordem de mercado disponível para execução no próximo preço de mercado disponível. As ordens de parada garantem a execução, mas não garantem um preço específico.
Ao negociar Forex através do modelo de execução da Dealing Desk da FXCM, a FXCM é a contraparte final dessas transações. Portanto, a FXCM está fornecendo toda a liquidez para todos os preços de moeda que se estende aos seus clientes ao negociar como contraparte. A FXCM é capaz de tornar a execução automática disponível limitando o tamanho máximo do comércio de todas as ordens para 2 milhões por comércio.
ATRASOS NA EXECUÇÃO.
Um atraso na execução pode ocorrer usando o modelo da Dealing Desk por vários motivos, como problemas técnicos com a conexão de internet do comerciante com o FXCM ou a falta de liquidez disponível para o par de moedas que o comerciante está tentando negociar. Devido à volatilidade inerente nos mercados, é imperativo que os comerciantes tenham uma conexão de internet funcional e confiável. Há circunstâncias em que a conexão de internet pessoal do comerciante pode não manter uma conexão constante com os servidores FXCM devido à falta de força do sinal de uma conexão sem fio ou dial-up. Um distúrbio no caminho de conexão às vezes pode interromper o sinal e desativar o FXCM Trading Station, causando atrasos na transmissão de dados entre a estação de negociação e o servidor FXCM. Uma maneira de verificar sua conexão com o servidor FXCMs é fazer ping no servidor a partir do seu computador.
TIMEFRAME: CONCLUSÃO DA TRANSACÇÃO.
A FXCM se esforça para processar pedidos em milissegundos; no entanto, não há um intervalo de tempo exato para o processamento de pedidos.
ETAPAS: CONCLUSÃO DA TRANSACÇÃO.
Quando um cliente faz uma ordem, o FXCM primeiro verifica a conta para uma margem suficiente. O pedido é então comparável às cotações dos provedores de liquidez. Um pedido de hedge é então enviado ao provedor de liquidez para execução. Finalmente, o pedido do cliente é preenchido e as posições abertas / fechadas são atualizadas.
EXCEÇÕES: CONCLUSÃO DA TRANSACÇÃO.
Pode haver exceções à transação típica, como atrasos devido ao processamento de ordens anormal ou mau funcionamento com processos internos ou externos. Nesses casos, a FXCM notifica os clientes o mais rápido possível, dependendo da complexidade do problema.
O objetivo da FXCM é notificar os clientes sobre esses tipos de exceções o mais rápido possível, mas o tempo de notificação às vezes depende da complexidade da questão em análise.
Estação de troca: se o processamento anormal da ordem do mercado ocorrer, a ordem será destacada em vermelho e a coluna "status" indicará "executado" ou "processamento" na janela "ordens". Nesses casos, o pedido está em processo de execução, mas está pendente até que a FXCM receba confirmação do provedor de liquidez de que os preços cotados ainda estão disponíveis. Durante períodos de grande volume de negociação, é possível que uma fila de ordens se forme. Esse aumento nas ordens recebidas às vezes pode criar condições em que há atraso dos provedores de liquidez na confirmação de determinados pedidos. Metatrader 4 ("mt4"): se o processamento anormal da ordem do mercado ocorrer, a janela do pedido permanecerá aberta na plataforma de negociação e refletirá um erro de processamento. 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 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, 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 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.
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 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 trader’s 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 2018, 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 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 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 will be gained or lost with each pip movement of the currency pair's rate and is denominated in the same currency as 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 checkmark 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 and closes on Fridays at 4:55 PM ET. Por favor, note que as encomendas anteriores podem ser preenchidas até às 5:00 da tarde. ET e que os comerciantes colocam trocas entre as 4:55 p. m. e 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 the 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 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.
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 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.
TRADING STATION TIERED MARGIN (AKA SMART MARGIN)
Certain FXCM LTD Trading Station accounts may be defaulted to the Trading Station’s tiered margin system, known as Smart Margin. This system is designed to allow clients more time in which to manage their positions before the automatic liquidation of those positions occurs. Clients are able to see real-time updates of their margin status on the Trading Station platform and can be alerted by FXCM’s Smart Margin Watcher feature.
The Trading Station tiered margin system consists of three components:
Initial Entry Margin – The initial good faith deposit or collateral set aside to open a position. The exact amount of margin required to open a position can be viewed in the "MMR" column under the "Simple Dealing Rates" tab on the Trading Station platform. Maintenance Margin – The minimum amount of equity that must be in the account in order to open new positions and maintain the current open positions. This is typically identical to the Initial Entry Margin amount. The exact amount of margin required to maintain open positions can be found in the "Used Maint Mr" column under the "Accounts" tab on the Trading Station platform. Liquidation Margin – The minimum amount of equity that must be in the account in order to continue holding the current open positions on the account. This is typically set at half of the value of the maintenance margin. If the account equity falls below this level, all positions will be automatically closed. The exact amount of margin required before automatic liquidation will occur can be found in the "Used Mr" column under the "Accounts" tab on the Trading Station platform.
How It Works.
When clients initiate a new position on the account the amount of equity in the account must exceed the Initial Entry Margin amount, otherwise the trade will automatically be deleted due to insufficient funds. Once a trade has been initiated, the equity in the account must exceed the Maintenance Margin. Should the equity in the account fall below the Maintenance Margin at any time, the account enters Margin Warning Status.
When this occurs, the Smart Margin Watcher feature is designed to alert clients that their account equity has fallen below the Maintenance Margin requirements by the presence of a warning ("W") in the Margin Call ("MC") column under the "Accounts" tab on Trading Station. This system is also designed to notify clients of a margin warning via email. However, clients should not rely on receiving these alerts and should monitor their account at all times.
After a warning is initiated, the account will be unable to open any new positions, and clients will have approximately three (3) calendar days from 5:00 pm ET on the day that the margin warning is initiated to bring account equity back above the Maintenance Margin requirement level. There are a few ways to accomplish this: 1) Deposit more funds; 2) Close out existing positions; or 3) Experience beneficial market movements.
The "MC" column on Trading Station will be automatically reset to "N" (meaning that the account is no longer in margin warning status) if the client chooses to either deposit funds or close out existing positions to bring the account equity above the Maintenance Margin requirement level. It is important to note that deposited funds may not be instantaneously available in the account. Please click here for more information regarding when deposited funds may become available.
Should the market move in the client’s favor and bring the account equity above the Maintenance Margin requirement level at the time of FXCM’s daily Maintenance Margin check at 5:00 pm ET, the account status will be reset to reflect that it is no longer in margin warning. In the event the account equity meets the Maintenance Margin requirement prior to the daily maintenance margin check, clients may contact FXCM to have their margin warning status removed manually.
Accounts that have received a margin warning notice will be triggered to automatically liquidate at approximately 6:00 pm ET at the end of the third day the account equity remains below the Maintenance Margin requirement level. Please note that weekends and bank holidays will count against the three (3) days clients are given to bring the account equity above the Maintenance Margin requirement. Positions may only be liquidated when trading is open. If the third day falls on a day that trading is not open at 6:00 pm ET (such as Friday, Saturday or a trading holiday) positions will be liquidated at 6:00 pm ET of the next open trading day.
TIME OF MARGIN WARNING (ET)
TRIGGERED TO LIQUIDATE (ET)
If at any time the account equity reaches or falls below the Liquidation Margin Level (typically 1% for major currency pairs and 2.5% for exotic pairs), the Smart Margin feature will automatically trigger the liquidation of all open positions. The liquidation process is entirely electronic, and there is no discretion on FXCM's part as to the order in which trades are closed.
Pending Entry orders that trigger while the account is in Margin Warning will not execute and will be deleted. If the account is set to non-hedging, it is possible for a Pending Entry order to act as a Stop or Limit when the order is intended to close out any open positions. When the order’s trade size is equal to, or less than, the open position’s trade size, it will close the relevant positions, again only when the account is set to non-hedging. If the order to close is larger than the open position, the entire entry order will be deleted.
METATRADER 4 (MT4) TIERED MARGIN.
Similar to Trading Station II accounts, certain MetaTrader 4 (MT4) accounts may be defaulted to a tiered margin system. MT4 accounts do not use the Smart Margin system, but use a different version of FXCM’s tiered margin and margin call procedures. The MT4 Tiered Margin system is designed to allow clients more time in which to manage their positions before the automatic liquidation of those positions occurs. Clients are able to see real-time updates of their margin status on the MT4 platform.
A plataforma MT4 não permite que a FXCM inclua comissões em cálculos de margem pré-negociação nas ordens pendentes do cliente. This means that if you place a trade with a small amount of available usable margin under the MT4 account, there is a risk that the execution of the orders could trigger immediate margin call right after the execution as the commission charges can result in insufficient margin to maintain your open positions. Você deve, portanto, garantir que tenha reservado uma margem útil de buffer suficiente antes de abrir novos negócios.
The MT4 Tiered Margin system consists of three components:
Initial Entry Margin – The initial good faith deposit or collateral set aside to open a position. The exact amount of margin required to open a position can be viewed in the "MMR" column under the "Simple Dealing Rates" tab on the Trading Station platform prior to execution. Maintenance Margin – The minimum amount of equity that must be in the account in order to open new positions and maintain the current open positions. This is typically identical to the Initial Entry Margin amount. The exact amount of Maintenance Margin required can found by viewing the label "Margin" under the "Trade" tab in the MT4 platform. Liquidation Margin – The minimum amount of equity that must be in the account in order to continue holding the current open positions on the account. This is set at half of the value of the Maintenance Margin and automatic liquidation will trigger when the "Margin Level" label under the "Trade" tab in the MT4 platform reads "50%" or below.
How It Works.
On the MT4 platform an account will enter margin warning when the "Margin Level" label under the "Trade" tab in the MT4 platform falls below 100%. When the account is in margin warning the "Trade" tab on the platform will turn red and no new positions may be opened until the "Margin Level" is over 100%. The margin warning period for an MT4 account is indefinite and the account will remain in margin warning as long as the margin level is above 50% and below 100%.
After a warning is initiated, the account will be unable to open any new positions until the Margin Level increases to a level above 100%. There are a few ways to accomplish this: 1) Deposit more funds; 2) Close out existing positions; or 3) Experience beneficial market movements. Note that beneficial market movements and/or deposits may not have immediate effect on the Margin Warning status.
When the Margin Level falls below 50% a margin call will automatically occur and the position floating the largest loss with an open underlying reference market will be liquidated. This process will be repeated until the Margin Level reaches 50% or above.
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.
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 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.
No Dealing Desk Forex Execution Trading Risks.
HIGH RISK INVESTMENT.
A negociação de câmbio em margem comporta um alto nível de risco e pode não ser adequada para todos os investidores. 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. Os produtos são destinados a clientes profissionais e de varejo. Forex Capital Markets, Limited is authorised and regulated by the UK Financial Conduct Authority ("FCA") [Registration No. 217689]. FXCM maintains its registered office at 20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom. 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. Existe a possibilidade de que você possa sustentar uma perda em excesso de seus fundos depositados. Você deve estar ciente de todos os riscos associados à negociação na margem. 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. A FXCM não aceita a responsabilidade por qualquer perda ou dano, incluindo, sem limitação, qualquer perda de lucro, que possa surgir direta ou indiretamente do uso ou dependência de tal informação.
INTERNET TRADING RISKS.
Existem riscos associados à utilização de um sistema de negociação de execução de negócios baseado na internet, incluindo, mas não limitado a, falha no hardware, software e conexão à internet. Uma vez que a FXCM não controla a potência do sinal, a sua recepção ou roteamento através da internet, a configuração do seu equipamento ou a confiabilidade de sua conexão, não podemos ser responsáveis ​​por falhas, distorções ou atrasos na comunicação ao negociar pela internet. A FXCM emprega sistemas de backup e planos de contingência para minimizar a possibilidade de falha do sistema, o que inclui permitir que os clientes troquem por telefone.
NO DEALING DESK EXECUTION MODEL.
FXCM also provides forex execution through a straight through processing, or No Dealing Desk (NDD) forex execution model. In this model FXCM platforms display the best-available direct bid and ask prices from the liquidity providers. While generally NDD accounts offer spreads with no markups, in some circumstances FXCM may add a markup to NDD spreads. In this model, FXCM does not act as a market marker in any currency pairs. As such, FXCM is reliant on these external providers for currency pricing. Although this model promotes efficiency and competition for market pricing, there are certain limitations to liquidity that can affect the final execution of your order.
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 available price for that specific order. Similarly, given FXCM's No Dealing Desk model for forex 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 next 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.
Exotic Currencies.
At FXCM the following are considered examples of exotic currencies which may have limited liquidity:
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. With 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, 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.
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 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, 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 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 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 2018, 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.
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 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 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 is denominated in the same currency as 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 checkmark 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. With No Dealing Desk, FXCM's platforms display the best-available direct bid and ask prices from the liquidity providers. While generally No Dealing Desk accounts offer spreads with no markups, in some circumstances, FXCM may add a markup to NDD spreads. In rare cases, the price feeds 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. By placing Market Range orders or not trading during these moments, you can avoid the risk associated with the above scenarios.
HOLIDAY/WEEKEND EXECUTION.
TRADING DESK HOURS.
The trading desk opens on Sundays between 5:00 PM ET and 5:15 PM ET and closes on Fridays at 4:55 PM ET. Por favor, note que as encomendas anteriores podem ser preenchidas até às 5:00 da tarde. ET e que os comerciantes colocam trocas entre as 4:55 p. m. e 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, 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 the 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 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.
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, trading style, market conditions, and at the discretion of FXCM.
TRADING STATION TIERED MARGIN (AKA SMART MARGIN)
Certain FXCM LTD Trading Station accounts may be defaulted to the Trading Station’s tiered margin system, known as Smart Margin. This system is designed to allow clients more time in which to manage their positions before the automatic liquidation of those positions occurs. Clients are able to see real-time updates of their margin status on the Trading Station platform and can be alerted by FXCM’s Smart Margin Watcher feature.
The Trading Station tiered margin system consists of three components:
Initial Entry Margin – The initial good faith deposit or collateral set aside to open a position. The exact amount of margin required to open a position can be viewed in the "MMR" column under the "Simple Dealing Rates" tab on the Trading Station platform. Maintenance Margin – The minimum amount of equity that must be in the account in order to open new positions and maintain the current open positions. This is typically identical to the Initial Entry Margin amount. The exact amount of margin required to maintain open positions can be found in the "Used Maint Mr" column under the "Accounts" tab on the Trading Station platform. Liquidation Margin – The minimum amount of equity that must be in the account in order to continue holding the current open positions on the account. This is typically set at half of the value of the maintenance margin. If the account equity falls below this level, all positions will be automatically closed. The exact amount of margin required before automatic liquidation will occur can be found in the "Used Mr" column under the "Accounts" tab on the Trading Station platform.
How It Works.
When clients initiate a new position on the account the amount of equity in the account must exceed the Initial Entry Margin amount, otherwise the trade will automatically be deleted due to insufficient funds. Once a trade has been initiated, the equity in the account must exceed the Maintenance Margin. Should the equity in the account fall below the Maintenance Margin at any time, the account enters Margin Warning Status.
When this occurs, the Smart Margin Watcher feature is designed to alert clients that their account equity has fallen below the Maintenance Margin requirements by the presence of a warning ("W") in the Margin Call ("MC") column under the "Accounts" tab on Trading Station. This system is also designed to notify clients of a margin warning via email. However, clients should not rely on receiving these alerts and should monitor their account at all times.
After a warning is initiated, the account will be unable to open any new positions, and clients will have approximately three (3) calendar days from 5:00 pm ET on the day that the margin warning is initiated to bring account equity back above the Maintenance Margin requirement level. There are a few ways to accomplish this: 1) Deposit more funds; 2) Close out existing positions; or 3) Experience beneficial market movements.
The "MC" column on Trading Station will be automatically reset to "N" (meaning that the account is no longer in margin warning status) if the client chooses to either deposit funds or close out existing positions to bring the account equity above the Maintenance Margin requirement level. It is important to note that deposited funds may not be instantaneously available in the account. Please click here for more information regarding when deposited funds may become available.
Should the market move in the client’s favor and bring the account equity above the Maintenance Margin requirement level at the time of FXCM’s daily Maintenance Margin check at 5:00 pm ET, the account status will be reset to reflect that it is no longer in margin warning. In the event the account equity meets the Maintenance Margin requirement prior to the daily maintenance margin check, clients may contact FXCM to have their margin warning status removed manually.
Accounts that have received a margin warning notice will be triggered to automatically liquidate at approximately 6:00 pm ET at the end of the third day the account equity remains below the Maintenance Margin requirement level. Please note that weekends and bank holidays will count against the three (3) days clients are given to bring the account equity above the Maintenance Margin requirement. Positions may only be liquidated when trading is open. If the third day falls on a day that trading is not open at 6:00 pm ET (such as Friday, Saturday or a trading holiday) positions will be liquidated at 6:00 pm ET of the next open trading day.
TIME OF MARGIN WARNING (ET)
TRIGGERED TO LIQUIDATE (ET)
If at any time the account equity reaches or falls below the Liquidation Margin Level (typically 1% for major currency pairs and 2.5% for exotic pairs), the Smart Margin feature will automatically trigger the liquidation of all open positions. The liquidation process is entirely electronic, and there is no discretion on FXCM's part as to the order in which trades are closed.
Pending Entry orders that trigger while the account is in Margin Warning will not execute and will be deleted. If the account is set to non-hedging, it is possible for a Pending Entry order to act as a Stop or Limit when the order is intended to close out any open positions. When the order’s trade size is equal to, or less than, the open position’s trade size, it will close the relevant positions, again only when the account is set to non-hedging. If the order to close is larger than the open position, the entire entry order will be deleted.
METATRADER 4 (MT4) TIERED MARGIN.
Similar to Trading Station II accounts, certain MetaTrader 4 (MT4) accounts may be defaulted to a tiered margin system. The MT4 Tiered Margin system is designed to allow clients more time in which to manage their positions before the automatic liquidation of those positions occurs. Clients are able to see real-time updates of their margin status on the MT4 platform.
A plataforma MT4 não permite que a FXCM inclua comissões em cálculos de margem pré-negociação nas ordens pendentes do cliente. This means that if you place a trade with a small amount of available usable margin under the MT4 account, there is a risk that the execution of the orders could trigger immediate margin call right after the execution as the commission charges can result in insufficient margin to maintain your open positions. Você deve, portanto, garantir que tenha reservado uma margem útil de buffer suficiente antes de abrir novos negócios.
The MT4 tiered margin system consists of three components:
Initial Entry Margin – The initial good faith deposit or collateral set aside to open a position. The exact amount of margin required to open a position can be viewed in the "MMR" column under the "Simple Dealing Rates" tab on the Trading Station platform prior to execution. Maintenance Margin – The minimum amount of equity that must be in the account in order to open new positions and maintain the current open positions. This is typically identical to the Initial Entry Margin amount. The exact amount of Maintenance Margin required can found by viewing the label "Margin" under the "Trade" tab in the MT4 platform. Liquidation Margin – The minimum amount of equity that must be in the account in order to continue holding the current open positions on the account. This is set at half of the value of the Maintenance Margin and automatic liquidation will trigger when the "Margin Level" label under the "Trade" tab in the MT4 platform reads "50%" or below.
How It Works.
On the MT4 platform an account will enter margin warning when the "Margin Level" label under the "Trade" tab in the MT4 platform falls below 100%. When the account is in margin warning the "Trade" tab on the platform will turn red and no new positions may be opened until the "Margin Level" is over 100%. The margin warning period for an MT4 account is indefinite and the account will remain in margin warning as long as the margin level is above 50% and below 100%.
After a warning is initiated, the account will be unable to open any new positions until the Margin Level increases to a level above 100%. There are a few ways to accomplish this: 1) Deposit more funds; 2) Close out existing positions; or 3) Experience beneficial market movements. Note that beneficial market movements and/or deposits may not have immediate effect on the Margin Warning status.
When the Margin Level falls below 50% a margin call will automatically occur and the position floating the largest loss with an open underlying reference market will be liquidated. This process will be repeated until the Margin Level reaches 50% or above.
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.
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 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. Os produtos são destinados a clientes profissionais e de varejo. Forex Capital Markets, Limited is authorised and regulated by the UK Financial Conduct Authority ("FCA") [Registration No. 217689]. FXCM maintains its registered office at 20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom. 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. Existe a possibilidade de que você possa sustentar uma perda em excesso de seus fundos depositados. Você deve estar ciente de todos os riscos associados à negociação na margem. 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. A FXCM não aceita a responsabilidade por qualquer perda ou dano, incluindo, sem limitação, qualquer perda de lucro, que possa surgir direta ou indiretamente do uso ou dependência de tal informação.
INTERNET TRADING RISKS.
Existem riscos associados à utilização de um sistema de negociação de execução de negócios baseado na internet, incluindo, mas não limitado a, falha no hardware, software e conexão à internet. Uma vez que a FXCM não controla a potência do sinal, a sua recepção ou roteamento através da internet, a configuração do seu equipamento ou a confiabilidade de sua conexão, não podemos ser responsáveis ​​por falhas, distorções ou atrasos na comunicação ao negociar pela internet. A FXCM emprega sistemas de backup e planos de contingência para minimizar a possibilidade de falha do sistema, o que inclui permitir que os clientes troquem por telefone.
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 the 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 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. In the event that you exhibit behaviours that prevent FXCM from mitigating exposure, we may, in our sole discretion remove you from Dealing Desk execution. Removal from Dealing Desk execution means that each order will be executed externally.
In the case that FXCM provides external execution for CFD's through a straight through processing, or No Dealing Desk execution model, platforms display the best-available direct bid and ask prices from the liquidity providers. Embora geralmente as contas NDD ofereçam spreads sem markups, em algumas circunstâncias, a FXCM pode adicionar uma marcação aos spreads NDD. 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.
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 ET) 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.
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 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 CFDs via FXCM's Dealing Desk execution model, FXCM is the final counterparty to these transactions. When trading via No Dealing Desk execution model (NDD), FXCM platforms display the best-available direct bid and ask prices from the liquidity providers. Embora geralmente as contas NDD ofereçam spreads sem markups, em algumas circunstâncias, a FXCM pode adicionar uma marcação aos spreads NDD. Under this execution model, FXCM does not take a market position, and trades are hedged back to back with an FXCM affiliate which, in turn, hedges with the liquidity provider. Available liquidity is dependent on the overall market conditions, specifically based upon the underlying reference market for the instrument. Prior to making a trading decision, all clients are advised to consider their overall trading strategy, size of the transaction, market conditions, and order type before placing a 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 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 FXCM’s 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 timeframe for order processing.
STAGES: COMPLETION OF TRANSACTION.
When a client makes an order with DD execution, 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 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 will remain open on the trading platform and reflect a 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 trader’s 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.
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 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 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 is denominated in the same currency as 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 checkmark 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 and close markets as close to the posted trading hours as possible, however the lack of liquidity at or around market open and close for any CFD instrument can impede execution and price delivery. FXCM may delay market open or bring forward market close on specific instruments in an effort to protect clients from quoted prices or executions that are not representative of the true market price.
Traders are advised to use extreme caution around market open and close 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 gaping 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 price.
Commensurate 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. 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 the 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 a 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 liquidation. If an account contains open positions for both CFD and forex at the time liquidation is triggered, it is possible that only the forex positions will be liquidated. This would only occur in situations where the underlying reference market for the CFD positions is closed, and the liquidation of the forex positions satisfies the liquidation requirement.
Please note that MT4 users are subject to different margin call procedures. When a margin call is triggered on the account, individual positions are 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.
TRADING STATION TIERED MARGIN (AKA SMART MARGIN)
Certain FXCM LTD Trading Station accounts may be defaulted to the Trading Station’s tiered margin system, known as Smart Margin. This system is designed to allow clients more time in which to manage their positions before the automatic liquidation of those positions occurs. Clients are able to see real-time updates of their margin status on the Trading Station platform and can be alerted by FXCM’s Smart Margin Watcher feature.
The Trading Station tiered margin system consists of three components:
Initial Entry Margin – The initial good faith deposit or collateral set aside to open a position. The exact amount of margin required to open a position can be viewed in the "MMR" column under the "Simple Dealing Rates" tab on the Trading Station platform. Maintenance Margin – The minimum amount of equity that must be in the account in order to open new positions and maintain the current open positions. This is typically identical to the Initial Entry Margin amount. The exact amount of margin required to maintain open positions can be found in the "Used Maint Mr" column under the "Accounts" tab on the Trading Station platform. Liquidation Margin – The minimum amount of equity that must be in the account in order to continue holding the current open positions on the account. This is typically set at half of the value of the maintenance margin. If the account equity falls below this level, all positions will be automatically closed. The exact amount of margin required before automatic liquidation will occur can be found in the "Used Mr" column under the "Accounts" tab on the Trading Station platform.
How It Works.
When clients initiate a new position on the account the amount of equity in the account must exceed the Initial Entry Margin amount, otherwise the trade will automatically be deleted due to insufficient funds. Once a trade has been initiated, the equity in the account must exceed the Maintenance Margin. Should the equity in the account fall below the Maintenance Margin at any time, the account enters Margin Warning Status.
When this occurs, the Smart Margin Watcher feature is designed to alert clients that their account equity has fallen below the Maintenance Margin requirements by the presence of a warning ("W") in the Margin Call ("MC") column under the "Accounts" tab on Trading Station. This system is also designed to notify clients of a margin warning via email. However, clients should not rely on receiving these alerts and should monitor their account at all times.
After a warning is initiated, the account will be unable to open any new positions, and clients will have approximately three (3) calendar days from 5:00 pm ET on the day that the margin warning is initiated to bring account equity back above the Maintenance Margin requirement level. There are a few ways to accomplish this: 1) Deposit more funds; 2) Close out existing positions; or 3) Experience beneficial market movements.
The "MC" column on Trading Station will be automatically reset to "N" (meaning that the account is no longer in margin warning status) if the client chooses to either deposit funds or close out existing positions to bring the account equity above the Maintenance Margin requirement level. It is important to note that deposited funds may not be instantaneously available in the account. Please click here for more information regarding when deposited funds may become available.
Should the market move in the client’s favor and bring the account equity above the Maintenance Margin requirement level at the time of FXCM’s daily Maintenance Margin check at 5:00 pm ET, the account status will be reset to reflect that it is no longer in margin warning. In the event the account equity meets the Maintenance Margin requirement prior to the daily maintenance margin check, clients may contact FXCM to have their margin warning status removed manually.
Accounts that have received a margin warning notice will be triggered to automatically liquidate at approximately 6:00 pm ET at the end of the third day the account equity remains below the Maintenance Margin requirement level. Please note that weekends and bank holidays will count against the three (3) days clients are given to bring the account equity above the Maintenance Margin requirement. Positions may only be liquidated when trading is open. If the third day falls on a day that trading is not open at 6:00 pm ET (such as Friday, Saturday or a trading holiday) positions will be liquidated at 6:00 pm ET of the next open trading day.
TIME OF MARGIN WARNING (ET)
TRIGGERED TO LIQUIDATE (ET)
If at any time the account equity reaches or falls below the Liquidation Margin Level (typically 1% for major currency pairs and 2.5% for exotic pairs), the Smart Margin feature will automatically trigger the liquidation of all open positions. The liquidation process is entirely electronic, and there is no discretion on FXCM's part as to the order in which trades are closed.
Pending Entry orders that trigger while the account is in Margin Warning will not execute and will be deleted. If the account is set to non-hedging, it is possible for a Pending Entry order to act as a Stop or Limit when the order is intended to close out any open positions. When the order’s trade size is equal to, or less than, the open position’s trade size, it will close the relevant positions, again only when the account is set to non-hedging. If the order to close is larger than the open position, the entire entry order will be deleted.
METATRADER 4 (MT4) TIERED MARGIN.
Similar to Trading Station II accounts, certain MetaTrader 4 (MT4) accounts may be defaulted to a tiered margin system. MT4 accounts do not use the Smart Margin system, but use a different version of FXCM’s tiered margin and margin call procedures. The MT4 Tiered Margin system is designed to allow clients more time in which to manage their positions before the automatic liquidation of those positions occurs. Clients are able to see real-time updates of their margin status on the MT4 platform.
A plataforma MT4 não permite que a FXCM inclua comissões em cálculos de margem pré-negociação nas ordens pendentes do cliente. This means that if you place a trade with a small amount of available usable margin under the MT4 account, there is a risk that the execution of the orders could trigger immediate margin call right after the execution as the commission charges can result in insufficient margin to maintain your open positions. Você deve, portanto, garantir que tenha reservado uma margem útil de buffer suficiente antes de abrir novos negócios.
The MT4 Tiered Margin system consists of three components:
Initial Entry Margin – The initial good faith deposit or collateral set aside to open a position. The exact amount of margin required to open a position can be viewed in the "MMR" column under the "Simple Dealing Rates" tab on the Trading Station platform prior to execution. Maintenance Margin – The minimum amount of equity that must be in the account in order to open new positions and maintain the current open positions. This is typically identical to the Initial Entry Margin amount. The exact amount of Maintenance Margin required can found by viewing the label "Margin" under the "Trade" tab in the MT4 platform. Liquidation Margin – The minimum amount of equity that must be in the account in order to continue holding the current open positions on the account. This is set at half of the value of the Maintenance Margin and automatic liquidation will trigger when the "Margin Level" label under the "Trade" tab in the MT4 platform reads "50%" or below.
How It Works.
On the MT4 platform an account will enter margin warning when the "Margin Level" label under the "Trade" tab in the MT4 platform falls below 100%. When the account is in margin warning the "Trade" tab on the platform will turn red and no new positions may be opened until the "Margin Level" is over 100%. The margin warning period for an MT4 account is indefinite and the account will remain in margin warning as long as the margin level is above 50% and below 100%.
After a warning is initiated, the account will be unable to open any new positions until the Margin Level increases to a level above 100%. There are a few ways to accomplish this:
Deposit more funds; Close out existing positions; Experience beneficial market movements.
Note that beneficial market movements and/or deposits may not have immediate effect on the Margin Warning status.
When the Margin Level falls below 50% a margin call will automatically occur and the position floating the largest loss with an open underlying reference market will be liquidated. This process will be repeated until the Margin Level reaches 50% or above.
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 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.
Aviso de Risco: Nosso serviço inclui produtos que são negociados na margem e correm risco de perdas em excesso de seus fundos depositados. Os produtos podem não ser adequados para todos os investidores. Certifique-se de que compreende perfeitamente os riscos envolvidos.
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Aviso de investimento de alto risco: o trading forex / CFD's na margem comporta um alto nível de risco e pode não ser adequado para todos os investidores, pois poderá sofrer perdas em excesso de depósitos. A alavancagem pode funcionar contra você. Os produtos são destinados a clientes profissionais e de varejo. Devido às certas restrições impostas pela legislação e regulamentação locais, os clientes minoristas residentes na Alemanha podem sustentar uma perda total de fundos depositados, mas não estão sujeitos a obrigações de pagamento subsequentes além dos fundos depositados. Esteja ciente e compreenda todos os riscos associados ao mercado e à negociação. Antes de negociar quaisquer produtos oferecidos pela Forex Capital Markets Limited, incluindo todas as agências da UE, a FXCM Australia Pty. Limited, quaisquer afiliadas de empresas acima mencionadas ou outras empresas do grupo de empresas FXCM [coletivamente o "Grupo FXCM"], considerem cuidadosamente sua situação financeira e seu nível de experiência. Se você decidir comercializar produtos oferecidos pela FXCM Australia Pty. Limited ("FXCM AU") (AFSL 309763), você deve ler e entender o Guia de Serviços Financeiros, a Declaração de Divulgação do Produto e os Termos de Negócios. O Grupo FXCM pode fornecer comentários gerais que não se destinam a conselho de investimento e não devem ser interpretados como tais. Procure um conselho financeiro separado. O Grupo FXCM não assume qualquer responsabilidade por erros, imprecisões ou omissões; não garante a precisão, integridade das informações, texto, gráficos, links ou outros itens contidos nesses materiais. Leia e compreenda os Termos e Condições nos sites do Grupo FXCM antes de tomar novas medidas.
O Forex Capital Markets Limited ("FXCM LTD") é uma subsidiária operacional do grupo de empresas FXCM (coletivamente, o "Grupo FXCM"). Todas as referências neste site para "FXCM" referem-se ao Grupo FXCM.
O Forex Capital Markets Limited é autorizado e regulamentado no Reino Unido pela Autoridade de Conduta Financeira. Número de registro 217689.
Tratamento tributário: o tratamento fiscal do Reino Unido das suas atividades de apostas financeiras depende das circunstâncias individuais e pode estar sujeito a alterações no futuro, ou pode diferir em outras jurisdições.
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Companhia incorporada em Inglaterra e Wales No.04072877 com sede social como acima.
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Forex Trading.
Negociar mais de 50 pares de moedas, Major & amp; Exótico.
Através das condições de negociação firmes e transparentes da HQBroker, oferecemos a todos os clientes as melhores taxas de mercado acessíveis para melhorar seu desempenho comercial. Incluindo spreads apertados, os clientes podem alavancar até 1: 400 e latências baixas.
Com a HQBroker, você pode negociar até 50 pares de moedas no MetaTrader 4 e aumentar a sua estratégia comercial com apenas um clique de um botão.
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Aviso de negociação de alto risco.
A troca de câmbio (Forex) e Contratos de Diferença (CFDs) é altamente especulativa, traz um alto nível de risco e pode não ser adequado para todos os investidores. É possível perder todo o seu capital investido, então você não deve investir dinheiro que não pode perder. Para obter mais informações sobre o risco envolvido, clique aqui.
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Competência restrita: A HQBroker não oferece seus serviços aos residentes de certas jurisdições, como EUA e França. Para obter mais informações, consulte os Termos & amp; Condições.

Top 5 Forex Risks Traders Should Consider.
The foreign exchange market, also known as the forex market, facilitates the buying and selling of currencies around the world. Like stocks, the end goal of forex trading is to yield a net profit by buying low and selling high. Forex traders have the advantage of choosing a handful of currencies over stock traders who must parse thousands of companies and sectors. In terms of trading volume, forex markets are the largest in the world. Due to high trading volume, forex assets are classified as highly liquid assets. The majority of foreign exchange trades consist of spot transactions, forwards, foreign exchange swaps, currency swaps and options. However as a leveraged product there is plenty of risk associated with forex trades that can result in substantial losses. (For more, see: Forex Broker Summary: Easy Forex .)
In forex trading, leverage requires a small initial investment, called a margin, to gain access to substantial trades in foreign currencies. Small price fluctuations can result in margin calls where the investor is required to pay an additional margin. During volatile market conditions, aggressive use of leverage will result in substantial losses in excess of initial investments. (For more, see: Forex Leverage: A Double-Edged Sword .)
In basic macroeconomics courses you learn that interest rates have an effect on countries' exchange rates. If a country’s interest rates rise, its currency will strengthen due to an influx of investments in that country’s assets putatively because a stronger currency provides higher returns. Conversely, if interest rates fall, its currency will weaken as investors begin to withdraw their investments. Due to the nature of the interest rate and its circuitous effect on exchange rates, the differential between currency values can cause forex prices to dramatically change. (For more, see: Why Interest Rates Matter For Forex Traders .)
Transaction risks are an exchange rate risk associated with time differences between the beginning of a contract and when it settles. Forex trading occurs on a 24 hour basis which can result in exchange rates changing before trades have settled. Consequently, currencies may be traded at different prices at different times during trading hours. The greater the time differential between entering and settling a contract increases the transaction risk. Any time differences allow exchange risks to fluctuate, individuals and corporation dealing in currencies face increased, and perhaps onerous, transaction costs. (For more, see: Corporate Currency Risks Explained .)
The counterparty in a financial transaction is the company which provides the asset to the investor. Thus counterparty risk refers to the risk of default from the dealer or broker in a particular transaction. In forex trades, spot and forward contracts on currencies are not guaranteed by an exchange or clearing house. In spot currency trading, the counterparty risk comes from the solvency of the market maker. During volatile market conditions, the counterparty may be unable or refuse to adhere to contracts. (For more, see: Cross-Currency Settlement Risk .)
When weighing the options to invest in currencies, one must assess the structure and stability of their issuing country. In many developing and third world countries, exchange rates are fixed to a world leader such as the US dollar. In this circumstance, central banks must sustain adequate reserves to maintain a fixed exchange rate. A currency crisis can occur due to frequent balance of payment deficits and result in devaluation of the currency. This can have substantial effects on forex trading and prices. (For more, see: Top Ten Reasons Not to Invest In The Iraqi Dinar .)
Due to the speculative nature of investing, if an investor believes a currency will decrease in value, they may begin to withdraw their assets, further devaluing the currency. Those investors who continue trading the currency will find their assets to be illiquid or incur insolvency from dealers. With respect to forex trading, currency crises exacerbate liquidity dangers and credit risks aside from decreasing the attractiveness of a country's currency. This was particularly relevant in the Asian Financial Crisis and the Argentine Crisis where each country's home currency ultimately collapsed. (For more, see: Examining Credit Crunches Around The World .)
With a long list of risks, losses associated with foreign exchange trading may be greater than initially expected. Due to the nature of leveraged trades, a small initial fee can result in substantial losses and illiquid assets. Furthermore time differences and political issues can have far reaching ramifications on financial markets and countries’ currencies. While forex assets have the highest trading volume, the risks are apparent and can lead to severe losses.

High risk forex trading

Nossa equipe de pesquisa global identifica a informação que impulsiona os mercados para que você possa prever possíveis movimentos de preços e aproveitar oportunidades de negociação forex.
Pesquisa mais recente.
EUR / USD puxa para trás do nível de resistência chave antes dos dados dos empregos dos EUA 3 de janeiro de 2018 4:03 PM Dólar aumenta a fraqueza no Ano Novo 2 de janeiro de 2018 2:02 PM A prata brilha à medida que o rally de Santa se apodera de commodities 22 de dezembro de 2017 12:22 PM Leia a última pesquisa.
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Uma conta de demonstração destina-se a familiarizá-lo com as ferramentas e recursos de nossas plataformas de negociação e para facilitar o teste de estratégias de negociação em um ambiente livre de risco. Os resultados obtidos na conta de demonstração são hipotéticos e nenhuma representação é feita que qualquer conta seja ou seja susceptível de alcançar lucros ou perdas reais semelhantes às obtidas na conta de demonstração. As condições na conta de demonstração nem sempre podem refletir razoavelmente todas as condições de mercado que podem afetar o preço e a execução em um ambiente comercial real.
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Contratos de Diferença (CFDs) não estão disponíveis para residentes dos EUA.