Specification of order execution

With Meta Trader 4 of Angelo Forex, you can place orders with a mandatory order and a limit order.


[Market Order]

Market Order (Market Order): This is an ordering method to execute buying or selling orders with effective market price at that time. The system will automatically aggregate the volumes offered by the third-party liquidity provider and execute the order with the volume weighted average price (VWAP), which is the most favorable contractible price at that time.



[Pending Order]

Stop Order:

This is a method by which buying or selling orders are executed when the market price reaches the order price (Stop Price) set by the customer. When the market price reaches the order price of the stop limit price, the execution of the stop limit order starts, and it is processed as the market order *. If the market price does not reach the order price, it will be saved in the system as in the item "Good Till Cancel" until it reaches a later date. There is no limit on the difference between the stop limit order price and the current market price. You can place an order with the desired price.


Settlement Inverse Limit (Stop Loss):

Order method to minimize losses. When the market price reaches the stop price of Stop Loss Price (Stop Loss Price), the execution of the stop limit orders starts, and it is processed as Market Order *. If the market price does not reach the order price, it will be stored on the system until it arrives at a later date. There is no limit on the difference between the settlement stop limit order price and the current market price. You can place an order with the desired price.


Limit Order:

It is an ordering method to buy and sell when the market price reaches "limit". When the market price reaches "limit", the order will be executed and promised with "limit" or better terms. If only a limited limit order is established, a new limit order for the unfinished part is automatically created, and it is confirmed when the market price reaches the "limit" specified at the beginning. "If the limit order has not been executed, the order will be retained on the system until a later date according to the conditions described in the" Good till Cancel "section. "Limit order" can be set as close as possible to the current market price, there is no limit.


Settlement limit (Take Profit):

Order method to secure profit. When the market price reaches the settlement order price (Take Profit Price) of the bid, the execution of the limit order starts and it is processed as the limit order. If the market price does not reach the order price, it will be stored on the system until it arrives at a later date. The difference between the settlement limit order price and the current market price is not limited. You can place an order with the desired price. * (Limit) Market Order: This is an ordering method to execute buying or selling orders with effective market price at that time. The system will automatically aggregate the volumes offered by the third-party liquidity provider and execute the order with the volume weighted average price (VWAP), which is the most favorable contractible price at that time. The market order which started execution once will be handled based on the conditions in "Good Till Cancellation" and "Good Tired Day".


Good Till Cancellation (GTC):

This is the deadline setting that you add to the limit order (Pending Order). Specify to what point in the future the valid status of limit / stop limit orders will be maintained. If limit / stop limit orders are not enforced until this set deadline, the order will be automatically cleared from the system.


Change / cancel pending order:

If the market does not reach the price level specified by the customer and the order is not canceled yet, you can change the order by customer's hand. If the following occurs, the order will be canceled:

· If the price requested to order is more than 50,000 PIP away from the market price or

· If the customer manually canceled the order before the market reached the specified price level or

· When the customer reaches the expiration date and reaches it or

· After failing to enforce the order promise 200 times


Change / Cancellation of Limit order:

It is possible to change the setting contents and cancels the order itself about unexecuted limit price / stop limit order.


Trailing stop:

Settlement stop limit (S / L) is used to minimize the loss when the market price is moving in the direction of generating loss. In the event that the market price shifts to generate profits, it plays the role of a brake for not receiving losses. Trailing stop was developed as an option to secure profit by automating this function of settlement inverse limit. Trailing stop is a very convenient function when the market price moves greatly in the same direction and when the trader can not always check the market after the trading order. Trailing stops can be set for orders in transit and will only work within MT 4. Unlike S / L or T / P, it is not sent to Angelo Forex's server. Please note that it functions only when you are logged into an account on the trading platform.


[Other items related to order]


Slippage:

If the order price requested is invalid in the market at the time the order is executed, the order may be contracted at a price several Pip away from the order price. "Positive slippage" if you decide at a price that is more favorable than your order price, on the contrary, it will be "negative slippage" if we make a contract at a price that is more disadvantageous than the order price. Slippage is commonly observed in the market, it is a regular phenomenon in the FX market with low liquidity or high volatility such as the announcement on economic trends and market opening etc. Angelo Forex's automatic enforcement software will not perform any operations based on personal parameters related to enforcement in individual customer accounts.


price difference:

When the order is executed soon, there may not be a price confirmed by the business partner. Therefore, the order is executed at a price close to the price confirmed by the business partner. This price has a deviation of only several pip from the price of the business partner. When the execution price is higher than the price of the business partner, it is called "advantage price difference". On the contrary, if the execution price is lower than the price of the business partner, it is called "disadvantage price difference". Note: The term "price difference" is a common characteristic of the exchange market under certain conditions in one common market operation. For example, sudden incidents, broker fluctuations, frequent non-flow and wave motion at market opening. Since Angelo Forex runs the software automatically, we do not manipulate the parameters of personal settings through the account of any specific trading partner.


Transaction size:

For Meta Trader 4 of Angelo Forex, you can order from a minimum of 0.01 lot (10 thousand currency unit). There is no limit on the maximum transaction size.


No Request (Agreement Warranty):

Meta Trader 4 of Angelo Forex guarantees promises as long as there is an effective thickness on the market. A request does not occur.


SOR and VWAP:

Smart order routing always gets the best price and automatically expanded your order by 99.9% with expanded liquidity. In the case of partial contract, Meta Trader 4 of Angelo Forex will automatically aggregate all available liquidity at the best price and promise with VWAP (Volume Weighted Average Price).
No restrictions on settlement limit / stop limit price - freely set order / settlement price
Angelo Forex's Meta Trader 4 has no restriction on the price difference between the order price and the Take Profit / Stop Loss price. By setting the settlement limit / stop limit price freely, it is possible to execute a reliable trading strategy. You can set a settlement limit / stop limit price even at a price close to the market price of the ECN platform.


Swap / Rollover:

If orders in FX trading are carried over the date, the subtraction / addition of swap / rollover is reflected in the profit and loss of the corresponding position. This is calculated by the interest rate differential between the two currencies of each currency pair when the position is held beyond the date. Whether the swap is subtracted or added to the position depends on the currency pair and order type. You need to keep track of whether rollover in the holding position is positive or negative, ie whether swap is added or subtracted. There are also currency pairs where both plus and minus swap points are further reduced and negative swap points are set for both buying and selling positions in order to add the interest rate at Angelo Forex based on interbank transaction rates . "Swap" is automatically converted into the currency displayed in the account automatically charged to the client's account. "Swap" will be charged at 23:59 Cyprus time. Swapping from Friday to Monday will be charged once. From Wednesday to Thursday, the "swap" interest rate will be charged at triple the rate.


BID price on chart:

Charts on the trading platform are drawn with BID price but settlement of purchase orders and sell orders is executed by ASK price. The ASK price will not be drawn on the chart, nor can it be sent on request. If you need an accurate review of the market price, please enable "Show Ask Line" on the chart. When this option is activated, one horizontal line is added on the chart and the latest ASK price is displayed.


Expert Advisor and High Frequency Transaction (HFT):

Regardless of the style of trading, any trading strategy can be executed in all trading transactions. Regarding the condition and liquidity of today's FX market, Meta Trader 4 deals with transactions using automated trading software such as Expert Advisor. Expert Advisor and HFT's automated buying and selling software function only within MT 4. Unlike S / L or T / P, it is not sent to Angelo Forex's server. Please note that it functions only when you are logged into an account on the trading platform.


Margin maintenance rate required for both orders:

You can conduct transactions of both houses by making relative orders of the same trading size and same trading size as the position of already held transactions. In this case, the transaction status of the opposite positions will be maintained and it will not be the settlement order of the position already held.

Additional margin is not required when constructing a position (hedge position) that is opposite to the held position in order to conduct both transactions if the margin maintenance rate of your trading account is 100% or more.

The margin maintenance percentage represents the relationship between the effective margin and the required margin for the position in transit (margin maintenance rate = (effective margin ÷ required margin) x 100). If the margin maintenance rate is 100% or more and there is sufficient surplus margin, you can build a relative position without adding margin and can do both transactions. On the other hand, if the surplus margin is negative, you can not make a new order including both houses.

Customers can check the effective margin, required margin, surplus margin and margin maintenance rate of trading accounts on the status line of the Meta Trader 4 platform.


Spread variation:

Under "Terms and Conditions" please note that we reserve the right to increase or decrease the spread beyond the typical maximum spread. This typical maximum spread is as specified in the product specifications. This may occur during abnormal market conditions.