To initiate a position, from within the OffersFX trading platform display screen, click the desired "BUY" or "SELL".
Depending on which instrument you selected, you must complete the following:
Forex Purchase: Choose the number of basic units/lots that you want to Buy or Sell.
Shares or Stocks: Choose the number of shares that you want to Buy or Sell.
Contracts for Indices: Choose the number of contracts that you want to Buy or Sell, with each transaction representing a multiple USD, EUR (or other currency) value of the traded.
Contracts for Commodities: Choose the number of basic units/lots that you want to Buy or Sell.
(Optional) Stop Limit (Close at Profit Rate): Enter the Stop Limit amount that you want to sell/buy the instrument at, representing the maximum amount of profit that you desire to make. The supplied default value is usually 1 pip above/below your purchase/sales rate.
(Optional) Stop Loss (Close at Loss Rate): Enter the Stop Loss amount that you want to sell/buy the instrument at, representing the maximum amount of loss that you want to incur on your initial transaction. The supplied default value is usually 1 pip below/above your purchase/sales rate. Note that after a favourable rate movement, manually adjusting this stop/limit rate ("Edit Position")can ensure that profits are locked in.
(Optional) Limit Orders (Buy/Sell) when Rate is: Set your price to Buy/Sell the instrument when or if it meets your specified price. Set the Limit Rate by selecting the limit order check box (Buy/Sell when Rate is), enter your desired order rate (From current Rate) and click Buy/Sell.
Example of Opening a Position:
You signed up and deposited $1,000 via credit card:
1:00pm - you press ‘Buy' Gold which is trading at: (Sell $1,199.65/Buy $1,200.35) per ounce.
Your criteria:
The Maintenance Margin required to maintain the gold position is 0.3%: $36.01
2:15pm - your Take Profit order executes and the position is closed. You made $496.50 on the transaction.
Equity: $1,496.50
P&L: 0 (no open positions).
Available Balance: $1,496.50
If at 2:15 pm gold slumps to $1,150:
P&L –$503.50: (10*$1,150 – 10*$1,200.35)
Equity $496.50 ($1,000 - $503.50).
P&L: 0 (no open positions).
Available Balance: $496.50.