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Live Streaming Quotes ■ 24-hour tight bid and ask spreads Live Streaming Quotes TradeFX4free has access to some of the best prices available for more than two dozen currency pairs. These prices are actual tradable prices; they are based on real bids and offers currently available. TradeFX4free Micro's execution system is designed to show you the best available price to buy and sell currently available to TradeFX4free from the multiple global banks that feed prices into the TradeFX4free Micro Trading Station. Having multiple prices provided to TradeFX4free by several of the world's largest financial institutions means that you will see very tight, variable spreads, with precision down to as much as 1/1000th of a cent. You can buy and sell simply by clicking on the prices in the Dealing Rates window. For fast order entry, you have the option of switching to one-click trading mode, allowing you to enter or exit the market with just one click. How to Read the Dealing Rates Many institutions in the forex market quote prices down to 1/100th of a cent in the euro/US dollar currency pair. 1/100th of a cent is called a "pip"; therefore, a change in the price of a euro from $1.4613 to $1.4614 is a change of one pip. TradeFX4free actually shows prices with an even greater degree of precision, down to 1/10th of a pip (which is 1/1000th of a cent). Forex prices are always quoted in pairs, such as the euro to the US dollar (abbreviated EUR/USD). The price shown in the dealing rates box to the right defines how much of the second currency 1 unit of the first currency is worth. For example, a EUR/USD buy price of 1.46160 means that it takes $1 and 46.160 cents to buy 1 euro. Advanced Dealing Rates ■ Sell Price: Also known as the "Bid Price," this is the price at which you can currently sell. Quoted to 1/10th of a pip. Additional Currency Pairs ■ TradeFX4free Micro offers over 24 currency pairs 24 Hour Reporting You can retrieve up-to-the-minute account statements at any time through your TradeFX4free Trading Station. Simply click on the "Report" button at the top of the screen. Then set the time span you want the report to reflect. Choose a start and an end date for the report, or check the Since Open and Now boxes to view the accounts entire history. Reports can be generated in HTML, PDF, or Excel format. Trading from Charts Marketscope 2.0 lets you analyze charts, make trades, and track positions all on one screen: One-Click Trading ■ Place market orders with just one click Setting Your Trading Mode You can change your trading mode at any time by clicking the "Trading Settings" button. There are three modes to choose from: ■ Click and Confirm The default mode for all accounts is "Click and Confirm." You also can choose your order type ("At Best" or "Market Range") for the "One-Click" and "Double Click" modes in this window. Click here to learn more about "At Best" and "Market Range Order" types. Click and Confirm This is the default trading mode. Every time you buy, sell, or close a position, you will receive a confirmation window with the parameters of the order. This allows you to easily check that you have keyed in your order correctly before making it. One Click To open a buy or sell position, simply click on the "Buy" or "Sell" price for the currency pair you want. You can set the number of lots you want to trade in the dealing rates box before clicking on the price. Double Click This trading mode works just like One Click trading mode, but instead of making one click to make an order, you double-click, as you do when opening a program in Microsoft Windows. The Advantages of One-Click Trading "One-Click Trading" was designed with the news-event trader in mind. It is a useful method to improve the speed of your order entry. In today's volatile financial markets, every second can count, and "One-Click Trading" (especially when combined with "At Best" orders) can give you an edge in navigating them. Good Until Cancelled (GTC) and Immediate Or Cancelled (IOC) If using At Best Market Orders, you can choose their "time in force" setting in your Trading Settings. The default time in force is GTC. GTC: Your entire order will be filled at the best available price(s) at the time the system receives it. In some situations, the best price available may not have enough liquidity to fill you entire order. In this case, as much of your order as is possible will be filled at that price level, while the remaining portions of that order will be executed at the best best available price(s), until your entire order is filled. IOC: This allows you the opportunity to have any part of your order filled at the best available price(s) with the remaining unfilled amount cancelled if liquidity is unavailable from our price providers. This order type is useful during news announcements and for currency pairs which tend to have less liquidity during certain trading sessions (example: GBP/USD and GBP crosses during Asian Hours). Customization Every trader's needs are different; many like to arrange their Trading Stations differently, and they can, because the look and feel of the Trading Station is fully customizable. It allows you to change the size, shape, location, and color of almost every feature. Click the "Options" menu selection in the "System" menu (upper left-hand corner) to begin exploring the customization features. The "Options" menu allows you to change any aspect of the Trading Station, including: ■ the text size;
Skins Changing the look and feel of your Trading Station is now as simple as selecting from an assortment of pre-formatted skins. These skins provide a total makeover for the look and feel of the Trading Station. You can apply them quickly and easily with a few clicks of the mouse. Just open the "Options" menu and choose your skin.
You can also change any individual setting in the "Options" menu:
Charts You can change color settings for your charts in the "Options" menu as well. Sounds You can turn sounds on and off, as well as change the sounds the Trading Station makes, through the "Options" menu.
Dealing Rates You can alternate between the "Simple" and "Advanced Dealing Rates" views by clicking on the "Simple Dealing Rates" tab at the top of the dealing rates window.
The simple view offers additional information about currency pairs, such as rollover rates and margin requirements.
The "Advanced Dealing Rates" window has a special detachability feature: You can click on the name of the currency pair, drag the rates box for this pair out of the window, and place it anywhere on your screen. For example, some traders like to keep it next to their charts:
Adjustable Windows All the windows in the TradeFX4free Trading Station can be moved and resized by clicking and dragging, similar to Microsoft Windows. Once you have moved and sized all the windows the way you like them, the Trading Station will save the layout when it closes. If you have several different layouts you would like to keep, you can save them by using "Save Profile" in the "View" menu.
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