1. Orders execution

Execution of all orders is processed in Currenex system. All the positions, except for Limit orders, open according to the “market prices”. It means that client receives the best price available in Currenex system at the moment of order execution. The time of order execution depends on connection quality between client’s terminal and server and also between trading server and Currenex server. Average execution time is ~ 0.3 sec. (since the moment of order sending till the position opening in trading platform). It’s important to remember that Stop Loss and Take Profit orders can be sent to ECN-system with the same speed as Sell and Buy orders. So, execution time of the positions with those orders included will be increased because of consecutive procession of each order.

In Currenex the execution of client’s requests is processed with the prices placed by system participants. The best prices of buy and sell in the system are Bid and Ask prices correspondingly. Clients can see those prices in MetaTrader. The disparity between them forms spread which depends on market liquidity .

Client’s requests with big volume (usually from 10 lots) may be processed partly in case if  there is no approaching request with the same volume in the Currenex system. In case of partial completion of Limit order a position for an executed part of volume opens and for the rest volume stays Limit order. Partial completion of Market order is processed with the price of best approaching requests in the system until the order is completely executed.

2. Margin features

All the pending orders are placed in Currenex, so when the client sends such order, check of equity and margin level is performed. The request will be rejected if there is not enough equity. In case of Margin Call all the pending orders are cancelled automatically. Locked position doesn’t require any additional margin.

3. Commission

For trading in Currenex system client should pay the commission which is 2.4 USD per every 100 000 USD of trading amount. Trading amount is every transaction performed – either position opening or closing. For example: the client performed a transaction with 1 lot volume, in this case trading amount will be 200 000 USD (100 000 USD for position opening + 100 000 USD for closing). Full commission (for both opening and closing) is charged off in the moment of position opening.

For contracts with base currency different from USD, the transaction volume and commission is calculated in the moment of opening according to a current USD rate.

Commission calculation example:

1) Buy USDJPY, 1 lot at 88.525

Volume of buy 100 000 USD

+

Volume of sell 100 000 USD

=

200 000 USD

200 000 / 100 000 * 2.4 = $4.8

2) Sell CADCHF, 0.5 lot at 0.97674

USDCAD = 1.05585

Volume of buy 100 000 CAD = 100 000 / 1.05585 = 94 710.43 USD

+

Volume of sell 100 000 CAD = 100 000 / 1.05585 = 94 710.43 USD

=

189 420.86 USD

189 420.86 / 100 000 * 2.4 = $4.55

It should be noted that if one opens new offsetting position then the position which’s been opened, closes. The client in this case don’t need to pay a commission because it`s been paid at the opening. Offsetting positions should be closed by "Close by offsetting» (Close By). By execution two offsetting positions of the same volume, both of them close, the opening price of the second recorded to the opening price of the first. In the second position zero is recorded as a result and the commission is not charged. If volumes of positions are not equal then an additional position with the volume balance opens.

The result of closing the position by offsetting one would be the same, as if the client instead of opening the offsetting position, closed the position opened earlier.

4. Plug-in

This plug-in is an addition to the trading platform which allows to perform one-click transactions and manage the whole position which is necessary during active trading.

1. Sell button with the current Bid price, allows to open a Buy order.
2. Buy button with the current Ask price, allows to open a Sell order.
3. Current spread.
4. Total profit/loss. Shows combined result of all positions for particular currency pair.
5. Aggregate volume of all positions. Positive/negative value correspond to buy/sell.
6. Order volume (an order with such volume will be placed after clicking on buy/sell buttons).
7. Stop Loss value in points. If the value is not 0, then after the position opening Stop Loss will be added to it.
8. Take Profit value in points. If the value is not 0, then after the position opening Take Profit will be added to it.
9. Clicking on this button zeroes Stop Loss and Take Profit fields. Orders will open without Stop Loss and Take Profit.
10. C.B. – Close By. Closes approaching positions of the current tool. Performing this operation plug-in transforms all the opened positions into one aggregate position but with some limitations:
11. Unidirectional positions can’t be transformed into one position.
12. Partly opened positions with un-cancelled remainder can’t be transformed into one position.
13. About box.
14. This button enables/disables market depth reflection (Level 2).
15. Market Depth Level 2.

Installation.

What is needed for plug-in installation and correct work:

1. Download MasterForex MetaTrader 4 ECN terminal;
2. Install your terminal to any directory except for Program Files;
3. Launch MasterForex MetaTrader 4 ECN;
4. In platform settings permit the trading with scripts and advisors and import from dll and other modules. Permit DDE server;
5. Make sure that MFCODE tool is visible in the tools list;
6. Drag OneClickTrading script  on any chart. (Plug-in launching can take a few seconds);
7. Plug-in requires an internet access (plug-in should be marked as trustworthy application for every firewall or anti-virus program).

Limitations.

This plug-in has the following limitations:

-          It doesn’t stay visible on chart while switching the currency pair or tool (it’s recommended to disable the plug-in before switching the tool);

-          It doesn’t stay visible on chart while template saving.

Appendix.

Currenex – an electronic trading system which unites the biggest liquidity providers in the world.

Take Profit - supposes closing of the before opened position at the price, more profitable for the client than the current price at the moment of order submission.

Stop Loss - supposes closing of the before opened position at the price, less profitable for the client than the current price at the moment of order submission.

Bid – The best demand price.

Ask – The best supply price.

Spread – disparity between Bid and Ask.

Limit orders – buy/sell requests for the pointed or better price.

Market order – buy/sell request with instant execution for the best price on the market.

Pending orders – Limit or Stop orders. Execution is performed when the pointed price is achieved.

Margin Call – a situation when there is not enough funds for margin ensuring of opened positions.

Locked position - long and short positions of identical volume opened at the same instrument on one trading account.

Level 2 – market depth which reflects Limit orders of the system participants. Shows liquidity on the closest price levels.