exit the market at certain price levels. Our order management system has certain client protection mechanisms in place that ensures that the vast majority of Orders are filled without any slippage. Example: You are trading eurusd opening the following positions: 1) Buy 1M eurusd 2) Buy 1M eurusd 3) Sell 1M eurusd 4) Sell 2M eurusd Total Sell 1M eurusd The first long position 1) will net out with the first short position 3 the second. For example, whenever someone goes to a bank to exchange currencies, that person is participating in the forex spot market. Trade on live, streaming, executable prices. This is most common in commodities markets. Standard Bank reserves the right to increase margin requirements for large position sizes, including client portfolios considered to be of very high risk.
The amount of collateral being used to hold margined positions. 'Trade on" with the exception that a Market Order will never in normal market conditions be rejected (but therefore can result in a slippage).
Most traders tend to focus on the biggest, most liquid currency pairs, also known as "The Majors". Never worse, never better. Spreads depend on the currency pair and the desired trade amount. The rollover is made up of two components, namely the tom/next swap points and financing of unrealized profits or losses. See Order Execution at the bottom of this page. When the required margin exceeds your margin collateral you are at risk of a stop-out where Standard Bank may close your margin positions on your behalf. During the day the market rises as predicted and the trailing stop follows. Stop if Bid Orders to buy are when triggered most often filled at the order level plus the client spread, which means no slippage. Stop if Offered Orders to sell are when triggered most often filled at the stop order level minus the client spread, which means no slippage. Manual Order fill Typically, only a very small proportion of orders placed with Standard Bank require manual intervention. Standard Bank therefore encourages you to only use Stop if Bid for Buy Orders and Stop if Offered for Sell Orders.
Forex trading is typically executed on margin accounts. Instead, open positions held at the end of a trading day are rolled over to the new spot value date as described under 'Tom/Next rollover'. Spot forex is better by Michael Boutros, currency futures are better by Dave Schulz Scott Brusso. So, the main difference between currency futures and spot FX is when the trading price is determined and when the physical exchange of the currency pair takes place. Ensure you fully understand the risks involved and seek independent advice if necessary. See full list of FX spreads under FX Prices.