How To Place A Trade With FXCM Markets: Placing A Trade
  1. How To Place A Trade With FXCM Markets: Platforms
  2. How To Place A Trade With FXCM Markets: Placing A Trade
  3. How To Place A Trade With FXCM Markets: Monitoring Positions And Margin
  4. How To Place A Trade With FXCM Markets: Using MetaTrader4 To Place Trades

How To Place A Trade With FXCM Markets: Placing A Trade

FXCM's Trading Station makes it very easy for traders to place five different types of orders via either their online or offline platforms. These orders include:

  • Market Order - Orders to buy or sell at the price available at that time, placed by clicking on a currency's buy or sell price on the Advanced Dealing Rates tab within the FXCM Trading Station.

    Figure 1: Market Order
  • Close Order - Orders to close an open position, placed by selecting the position in the Summary Window and then clicking on the Close button on the top menu bar.

  • Entry Order - Orders to buy or sell at a price different from the current price, placed by clicking on the Entry button in the top menu bar and selecting either a Stop entry or Limit entry.

  • Stops/Limits - Orders that specify a price to automatically exit positions that are either not going in their favor (stops) or going in their favor (limits), placed by checking the Stop or Limit boxes when creating a Market Order.

  • OCO Order - "One Cancels Other" orders in which if one part of the order is executed, then the other part will be automatically canceled, placed by right-clicking on a given order in the Orders window and selecting either Simple OCO or Complex OCO.
Each of these orders also features a Time in Force field that has three options:

  • Immediate or Cancel (IOC) - An order specifying that once a requested price and volume reaches the market, it's executed immediately in part or in its entirety only at that price. If all or the portion of the order can't be filled at that price, it's automatically cancelled.

    Figure 2: Create Entry Order
  • Fill or Kill (FOK) - An order specifying that once the requested price and volume reaches the market, the order is only filled if it can be filled in its entirety at this price. If liquidity doesn't exist for the requested volume in full, the order is automatically cancelled.

  • Good 'til Cancelled (GTC) - An order specifying to buy or sell the currency pair at a set price that is active unless canceled.
How To Place A Trade With FXCM Markets: Monitoring Positions And Margin

  1. How To Place A Trade With FXCM Markets: Platforms
  2. How To Place A Trade With FXCM Markets: Placing A Trade
  3. How To Place A Trade With FXCM Markets: Monitoring Positions And Margin
  4. How To Place A Trade With FXCM Markets: Using MetaTrader4 To Place Trades
RELATED TERMS
  1. Day Order

    An order to buy or sell a security that automatically expires ...
  2. One-Cancels-the-Other Order - OCO

    A pair of orders stipulating that if one order is executed, then ...
  3. Immediate Or Cancel Order - IOC

    An order to buy or sell a security that if not immediately filled, ...
  4. Limit Order

    An order placed with a brokerage to buy or sell a set number ...
  5. Good This Month - GTM

    A limit order to buy or sell a security that remains in effect ...
  6. Canceled Order

    1. A previously submitted order to purchase or sell a security ...
RELATED FAQS
  1. How do I place a limit order online?

    Learn how a limit order is placed, the types of stocks it is most useful for and the specifications placed with it to suit ... Read Answer >>
  2. How can I use a buy limit order to buy a stock?

    Learn how a buy limit order is used by an investor who wants to buy a stock at a certain price, and understand how limit ... Read Answer >>
  3. What are the advantages of a limit order over a market order?

    Understand the functional differences between a limit order and a market order and the respective advantages and disadvantages ... Read Answer >>
  4. What is the difference between a buy limit and a stop order?

    Learn the difference between buy limit orders and stop orders, including stop loss orders, and understand the risks of the ... Read Answer >>
  5. What's the difference between a market order and a limit order?

    Buy and sell trades with market orders at the present stock price and execute limit orders if the stock price falls within ... Read Answer >>
  6. What is the difference between a buy limit and a sell stop order?

    Understand the differences between the two order types, a buy limit order and a sell stop order, and the purposes each one ... Read Answer >>

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