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User Guide

Table of Contents
How to trade on dbFX

Viewing Rates

Spot Trading

Opening a position on dbfx

Open a position at the current market rate

Other Ways Positions can be opened

Placing orders on dbFX

Placing an Order Away From the Current Market Rate

Modify an Entry Order

Canceling an Entry Order

Adding Stops and Limits to Open Positions

10

Other Ways to add a Stop or Limit Order to an Open Position

11

Modify/Delete a Stop or Limit Order

12

Adding Stops and Limits to Entry Orders

12

Trailing Stops

13

Order Execution Logic

13

Closing positions on dbFX

15

Closing a position from the Open Positions Window

15

Other Ways You can Close an Open Position

16

Account Information

17

The Accounts Window

17

Multiple Accounts Window

17

The Summary Window

18

Margin

19

Margin requirements for different types of orders

19

Rollover

22

Reports

22

Trading Station

23

Charts

27

Contacts

28

How to trade on dbFX


Viewing Rates

Advanced Dealing Rates Window

The DBFX Platform contains live


executable quotes for 27 currency pairs.
Each currency quote box in the
Advanced Dealing Rates window
shown to the right contains information
about a specific currency pair, as defined
by the currency pair abbreviations at the
top of the box.
For example, EUR/USD represents the
Euro/U.S. Dollar.


The first currency in the pair is referred


to as the Base Currency

The second currency in the pair is the


Counter Currency

The price you see for each currency pair


is the exchange rate for that pair.
The exchange rate refers to the amount
of the counter (second) currency that can
be exchanged for one unit of the base
(first) currency.

Example:
EUR/USD is 1.2979, then 1.2979 US
Dollars can be exchanged for 1 Euro.

Buying and Selling

Examples:

Each currency quote box contains both


a buy (also referred to as the offer) and
a sell price (also referred to as the bid).
When trading on the dbFX platform
you trade directly with a market maker,
cutting out commissions, and paying
only the spread. The spread is the
difference between the rate where
you can sell a currency pair and the
rate where you can buy a currency pair.

Buying

When the rate for a currency pair


increases this means that the first
currency in the pair is getting stronger
(as it now takes more of the second
currency to get one of the first currency)
and the second currency in the pair is
getting weaker. When the rate for a
currency pair decreases, this means that
the first currency in the pair is getting
weaker (as it now takes less of the
second currency to get one of the first)
and the second currency in the pair is
getting stronger.
Traders who expect the rate for a
currency pair to increase would buy
or enter a long position and traders
who expect the rate for a currency
pair to decrease would sell or enter
a short position.

The EUR/USD is currently trading at 1.2924. I am expecting the Euro to strengthen


against the US Dollar causing the rate for EUR/USD to move higher. To express this
opinion with a trade I would click the buy rate and enter a long position in EUR/USD.

Selling
The EUR/USD is currently trading at 1.2924. I am expecting the Euro to weaken
against the US Dollar causing the rate for the EUR/USD to move lower. To express
this opinion with a trade I would click the sell rate and enter a short position in
EUR/USD.

High and Low


Also displayed in the currency quote
box are the high and low prices as
displayed in dbFX since 16:00 London
Time. The high shown is the highest buy
price reached since 16:00 London Time
and the low is the lowest sell price
reached since 16:00 London Time.

Simple Dealing Rates


Window
By changing the dealing rates window to
simple mode, traders can view additional
information such as margin requirement
(explained on page 19), rollover amounts
(explained on page 21).

To view the Simple Dealing Rates


window right click on the Dealing
Rates window, scroll down to the menu
option look and feel and select simple
rates or you can select simple rates from
the main navigation by:
Click on Trading
Choose Dealing Rates
 Another Tab will open up,
click on Look and Feel
 Then click on Simple Rates



Spot Trading
Opening a position
on dbfx
Open a position at the current
market rate:
The simplest way to place an order to be
executed at the current market rate is by
left clicking on the exchange rate within
the dealing rates window for the currency
pair you wish to buy or sell.
After left clicking on the exchange rate for
the currency pair, a market order box will
appear. In the market order box there are
5 parameters which can be set prior to
submitting the order:

Under Order Type, Select an


order type of Market Range with
a number of pips or At Best in
the drop down box. Orders with
an order type have specific
execution logic based on the
order type chosen.


Select the account you are dealing for,


this is only applicable if you are trading
in more than one account.

Select a currency pair. This will default


to the currency pair that is highlighted in
the Dealing Rates Window, or select
another currency from the drop down box

Select sell or buy

Select the amount you are buying or


selling, trades are made in increments
of 100,000 of the base currency.
100 represents 1 lot, or 100,000
units of the base currency.
200 is 2 lots, or 200,000 and so forth.

No Order Type Specified


Complete the standard
information for the order and
make no choices under the
Order Type drop down of the
Create a Market Order box, if you do
not specify an order type the default
will be Market Range with a range of 0
(zero). This means that the order will be
executed at the specific rate specified.

Order box and in the Order Type drop


down choose Market Range. You will
need to specify an amount of allowable
slippage as defined in pips. The order
will be filled within the allowable pips.


Market Range Order Type


Complete the standard information for
the order in the Create a Market

Parameters:





Account
Buy/Sell
Currency
Amount




Order Type
Pips if
applicable to
that order type

At Best Order Type


Complete the standard information
for the order in the Create a Market
Order box, in the Order Type drop
down choose At Best. The order will
be filled with the market rate available
on dbfx at the time the order is
received by dbFX. The at best order
type does permit the user to specify
a rate or an allowable slippage.

Other Ways Positions can


be opened:
Right-click on the appropriate rate
and select the Create a Market Order
command from the pop-up menu
that appears.

Click on the Buy button at the top


of the trading screen.

Click on the Trading heading located at


the top of the screen and select Dealing
Rates and then Create a Market Order.
In all cases the Create a Market Order
box opens for quick order entry.

Placing orders on dbFX


Placing an Entry Order Away
From the Current Market Rate
In addition to allowing the placement
of orders at the current market rate, the
dbFX Platform also allows orders to be
placed at a price above or below the
current market rate. These orders are
referred to as Entry orders, and are only
executed if the market rate reaches the
rate specified in the order.

Examples:
If the current market price in
EUR/USD is 1.2683 and a trader
wishes to place an order to sell if the
market moves to 1.2750, he or she
would place a limit entry order.

If the current market price in


EUR/USD is 1.2683 and a trader
wishes to place an order to buy if the
market moves to 1.2750, he or she
would place a stop entry order.

To place an entry order left click on


the Entry button at the top of the
trading screen.

There are two types of entry orders on


the dbFX Platform, which are Stop Entry
orders and Limit Entry orders.
A Limit Entry order is an order to
buy below the current market rate,
or an order to sell above the current
market rate.
A Stop Entry order is an order to
buy above the current market rate,
or an order to sell below the current
market rate.

After clicking the Entry button, the


Create an Entry Order Box will appear.
There are five parameters which can be
set prior to sending an entry order to the
trading desk.
The first four are the same ones that
appear in the Market Order Box as
outlined on page 7.



Account
Buy/Sell




Currency
Amount

Once the order is accepted, it will be


listed in the Orders window of the
platform where it will remain as a waiting
order until the market moves to the rate
specified in the order, or the order is
cancelled. Once the trade is executed, the
position will disappear from the Orders
window and reappear as an open position
in the Open Positions window.

Parameters:


The difference is that for an entry order


you set a specific level to trigger the
execution of the trade.




Account
Buy/Sell
Price




Currency
Amount

Modify an Entry Order

Canceling an Entry Order

Once an entry order has been placed,


the order rate can be modified by right
clicking on any part of the order in the
orders window and selecting change
order rate

To cancel an existing entry order, right


click on any part of the orders window
and select remove order.

After selecting change order rate as


outlined above, the change order rate
box will appear. Here the order ID and
new order rate can be specified.

After selecting remove order as outlined


above, you will be asked to confirm that
you wish to delete the selected orders.
Click Yes to cancel the trade or No to
make no changes to the order. Once the
Yes button is clicked, the order will be
deleted from the Orders window and
officially removed.

Click on the Ok button after all the


modifications have been made.
Once the modification is completed,
the updated information will be reflected
in the Orders window.
It is important to note that only the
exchange rate can be changed for
an existing entry order. If you wish
to change the order size or currency
specified in an entry order, you must
cancel the existing order and enter
a new one.

Adding Stops and Limits to


Open Positions
Stop and Limit Orders are orders which
are tied to an open position, or order
and set to automatically close a position
when the market reaches a specified
rate. Normally a stop order is used to
automatically close an open position
before additional losses are incurred
and a limit order is used to automatically
lock in trading profits.
If a position is opened by buying a
currency pair, the stop order will always
be placed below the current market price,
and a limit order will always be placed
above the current market price. If a
position is opened by selling, the stop
order will always be placed above the
current market price and the limit order
will always be placed below the current
market price.
It is important to note that if a position
is opened by buying, then your position
will be closed when the sell rate reaches
your stop or limit price. Conversely, if a
position is opened by selling, then your
position will be closed when the buy
rate reaches your stop or limit price.

Example:
A trader has a buy position in EUR/USD which was opened at 1.2754 and the
current market price is 1.2750. The trader wishes to have this position automatically
closed at a loss if the sell price reaches 1.2700 or automatically closed for a profit
if the sell price reaches 1.2800. To have this occur the trader sets a stop order on
their open position at the rate of 1.2700 and a limit order on their open position at
the rate of 1.2800.

To place a stop or limit on an open


position left click under the stop or limit
column in the open position window for
the position you wish to add a stop or
limit to as shown below:

After left clicking in the stop or limit


column of the open positions window
the stop/limit order box will appear. On
the stop/limit order box there are three
parameters which can be set prior to
sending an order to the trading desk.

Click the advanced button to place a


trailing stop. (Trailing stops are
explained on page 14)

Select the specific ticket number (as


shown in the open positions window)
of the trade where the stop or limit
will be placed.
 Select either a stop or limit order
 Select the exchange rate at which
the stop or limit should be triggered.
 Click on the New button after all
the selections have been made to
place the stop/limit order.

10

Note on stop loss order


executions
dbFX will fill stop loss orders in
accordance with market conventions
from the institutional market. This
means, that orders will be executed at
the market price, once the market has
hit the target price. For example,
when you leave a stop loss order,
such as an order to buy currency
above the current market, the order
will be filled at the next available price
once the market hits your level.
An example of this is a stop loss to
buy EURUSD at 1.2685 when the
current market is 1.2650-53, once the
market trades through the 1.2685 your
order will be filled at the next price. In
a smooth market the order will be
filled when the market is at 1.2682-85
at 1. 2685, if the market gaps to
1.2695-98 the order is filled at 1.2698.

Other Ways to add a Stop


or Limit Order to an Open
Position
Right-click on the appropriate stop or
limit box from the highlighted ticket
and select the Stop/Limit command
from the pop-up menu.

Click on the Trading heading located on


the top of the screen and select Open
Positions and then Stop/Limit.

Click on the Stop/Limit button at the top


of the trading screen.

In all cases the Stop Order box will open


as shown on page 10.

11

Modify/Delete a Stop or Limit


Order

Example:

To modify the rate for a specific stop or


limit order, simply click on the stop or
limit column (as outlined above) which
will bring up the stop/order window and
allow the rate to be changed.

Lets say the current market price in


EUR/USD is 1.2800. A trader wants
to enter a long position if the market
reaches 1.2850 so he places an Entry
Order to Buy EUR/USD at 1.2850

If you wish to delete the order simply


click on the delete button in the
stop/limit order window.

The trader then wishes to place a


stop order for this trade at1.2815
and a limit order to take your profit
if the market reaches 1.2900. To
make this happen he places a stop
order on his entry order at the rate
of 1.2815 and a limit order at 1.2900.
If the market does not reach 1.2850
then his stop and limit orders will
remain inactive. If the market reaches
his entry order price of 1.2850 then
his entry order will be executed and
move down to the Open Positions
Window and the stop order at
1.2815 and limit order at 1.2900
will become active.

Adding Stops and Limits to


Entry Orders
In addition to adding stops or limits to
open positions, the DBFX platform also
allows you to add a stop or limit to an
entry order. Unlike stop and limit orders
of open positions, stop and limit orders
added to entry orders only become active
after the market price reaches the entry
order rate and your entry order becomes
an open position.

To add a stop or limit to an entry order


left click on the stop or limit column of
the orders window and follow the steps
outlined on page 10.

12

Trailing Stops

Example:

The trailing stop feature allows traders


to place a stop loss order which will
maintain a consistent spread between the
order rate and the current market rate.
Trailing stops can be placed by clicking
the advanced button in the Create
Market Order or Stop Order window.

A trader buys EUR/USD at 1.2100 and


places a 50 pip stop at 1.2050. The
trader then checks the Trailing Stop
box to activate a trailing stop and
selects 30 as the value for the Rate
Min. Move.

After checking the Trailing Stop box in


the market order or stop order window
you will be prompted to enter an amount
for the Rate Min. Move which
determines how many pips the market
must move in favor of the position
before the stop order begins to trail.

The market then moves up by 30 pips


to 1.2130 at which point the traders
stop moves from 1.2050 to 1.2080
where it will stay until the market
moves up by another 30 pips.

Order Execution Logic


dbFX fills orders in incremental pieces
reflecting the type of order and specific
directions within the order.

Market Orders
When placing a market order, the user
will now have a choice of execution logic,
under the Order Type drop down button
you can choose from three different
order types:
1. No order type specified: Market
Range = 0
2. Market Range
3. At Best

13

1. No Order Type Specified


Complete the standard information for
the order and make no choices under the
Order Type drop down of the Create a
Market Order box. If you do not specify
an order type the default will be Market
Range with a range of 0 (zero). This
means that the order will only be
executed at the specific rate specified.
The order will be filled in incremental
pieces until the market moves away from
the stated rate. The executed amounts
will appear in the open positions window,
any unexecuted amounts will be
cancelled. The user will see a pop up
message stating the portion of the order
that has not been executed and was
cancelled (see screen print below).
Example: An order with NO set
parameter in the Market Range
window to buy 200 lots or 20M EURUSD
at a rate of 1.3450 may be filled as two
pieces of 100 lots at the specified price
of 1. 3450.

2. Market Range Order Type


Complete the standard information for
the order in the Create a Market Order
box and in the Order Type drop down
choose Market Range. You will need to
specify an amount of allowable slippage
as defined in pips. The order will be filled
within the allowable pips. The order will
be filled in incremental pieces as long as

the market is within the specified market


range of pips. The executed amounts
will appear in the open positions window,
any unexecuted amounts will be
cancelled. The user will see a pop up
message stating the portion of the order
that has not been executed and was
cancelled (see screen print below).
Example: An order with 10 pips in the
Market Range to buy 200 lots or 20M
EURUSD at a rate of 1.3450 may be filled
with 100 lots at 1.3450 and 100 lots at
1.3452.

3. At Best Order Type


Complete the standard information for
the order in the Create a Market Order
box, in the Order Type drop down
choose At Best. The order will be filled
with the market rate available on dbfx at
the time the order is received by dbFX.
The at best order type does NOT permit
the user to specify a rate or an allowable
slippage.
Example: An order with At Best in the
Order Type menu to buy 200 lots or 20M
EURUSD when the market is trading at
1.3450 may be filled with 200 lots at 1.
3448, or the best market price at that
time for that

Limit Orders
Limit orders will be filled at the rate
specified. While the order is being filled
the status of the order will be
executing and can not be modified or
cancelled. Any unfilled portions of the
order will remain in waiting status. At
that point, the user can choose to cancel
or modify the order. As the market
conditions allow the remaining portions
of the order will be executed. Execution
may be in multiple pieces and will display
in the Open Portions or Closed Positions
window as applicable.

Stop Orders
Stop orders will be continually
incrementally executed until the entire
amount is executed. While the order is
being filled the status of the order will be
executing and can not be modified or
cancelled. The user may see different
prices for different portions of the total
amount. Executed trades will display in
the Open Portions or Closed Positions
window as applicable.

Margin Close Out


When your account has zero usable
margin, the system will generate Margin
Close Out orders, these will be
continually incrementally executed until
the entire amount is executed. The user
may see different prices for different
portions of the total amount. Executed
trades will display in the Closed Positions
window.

14

Closing positions
on dbFX

Before clicking Ok you can cancel the


order by clicking on the Cancel button.

Closing a position from the


Open Positions Window

Click the Ok button after all the


selections have been made to close
the position.

To close an open position -click directly


on the Close price of the ticket you wish
to close.
This will bring up the close position box
which has two parameters you can set
prior to sending the close order to the
trading desk.


Select the ticket that you wish to close.

Select the amount you wish to close.


If you wish to close only a portion
of your position scroll down
the list and select the amount you
wish to close.

You may select the range of rates you


are willing to accept using the at market
feature. Orders will simply be executed
at the first rate the market reaches
that is within the range specified.
Otherwise leave the at market at 0
and the order will be executed at the
current market price.

15

Once the position is closed it will


disappear from the Open Positions
window and move into the Closed
Positions window until the close of that
days trading at 16:00 London Time.

Other Ways You can Close


an Open Position
Right-click on the Close box from
the highlighted ticket and select
the Close Position command
from the pop-up menu.
Click the Close button at the top of the
trading screen.
Left click the Trading option at the very
top of the screen and select Open
Positions and then Close Position.
Using the Market Range under the Order
Type drop down, you can, select the
range of rates you are willing to accept.
Orders will be executed at the first rate
the market reaches that is within the
range specified here. Most traders will
choose to leave the Market Range
feature set to 0 but there is the option to
establish a range at which you would like
the order to be executed. When an order
is placed to buy EURUSD at 1.2750 and
5 is entered in at market box the order
will be filled only between 1. 2755
and 1. 2745.
This feature is useful when you expect
market volatility to ensure the order is
filled only within the specified range.

16

Account Information
The Accounts Window

Multiple Accounts
Window

The accounts window of the dbFX


Platform displays all pertinent account
information and includes a real-time
margin tracking feature.

Traders with multiple accounts can


choose to have all accounts display in
the accounts window of the platform:
Traders wishing to place the same trade
on multiple accounts can hold the ctrl
key and left click on the accounts they
wish to trade which will allow traders
to place the same trade on multiple
accounts.

Included in the accounts window from


left to right is:

17

The account field displays the


account number.

The balance of your account is the


value of your account not including
profits or losses on open positions.

The equity of your account


is the floating value of your account
including any profits or losses on
open positions.

The Day P/L is the profit or


loss on the account for each 24 hour
period starting at 16:00 London time.

The Used Margin is the margin


required to hold any open positions
on the account. (For more information
on margin see page 18)

The Usable Margin is the equity of


your account minus the used margin
or the amount of money in your
account above the Used Margin
required. (For more information on
margin see page 19)

The Usable Margin Percentage is


the usable margin as a percentage
of equity.

The margin close-out line shows


either a Y for yes or N for no. If this
box shows Y then the account has
received a margin close-out. If this box
displays an N then the account has not
received a margin close-out. (For more
information on margin see page 18)

The Summary Window


The summary window of the DBFX
platform gives traders an overview of the
average entry price and profit or loss for
each currency pair traded.


The Av Buy displays the average buy


price for all long positions currently
open broken down by currency pair.

The B Amt (K) displays the average


amount of all long positions currently
open broken down by currency pair.

The P/L Buy displays the aggregate


profit or loss on all long positions
currently open broken down by
currency pair.

The Amt (K) displays the aggregate


amount of all positions currently open
broken down by currency pair.

The Gross P/L displays the aggregate


profit or loss on open positions broken
down by currency pair, not including
fees such as rollover.

The Net P/L displays the aggregate


profit or loss on open positions broken
down by currency pair, including
all fees.

Included in the Summary window from


left to right is:


The currency field displays the


currency pairs for which there are
currently open positions.
The P/L Sell displays the aggregate
profit or loss on all short positions
currently open broken down by
currency pair.
The S Amt (K) displays the aggregate
amount of all short positions currently
open broken down by currency pair.
The Av Sell displays the average sell
price for all short positions currently
open broken down by currency pair.
The Buy field displays the current
price at which short positions can be
closed broken down by currency pair.
The Sell field displays the current price
at which long positions can be closed
broken down by currency pair.

18

Margin
All accounts are set to a default margin
requirement of 2%. At the 2% margin
level, the margin requirement is $2000 per
100,000 traded.
The Trading Station will calculate in real
time both the margin requirement and
the remaining usable margin in your
account. You can see them stated in the
Accounts window of the Trading Station
under the columns UsdMr (used margin),
and UsblMr (usable margin). If the
UsblMr column reaches zero, a Margin
Close-out will be triggered on the
account, and all open positions will
be liquidated.

19

Margin Requirements for


Different Types of Orders
Each order type has specific logic
regarding the usage of margin to open
and close positions.
Market Orders: Market orders create new
positions and you will need the full margin
requirement in your Usable Margin
Orders linked to an Open Position: Once
a position is open, an order can be linked
to that position, such as a stop or limit
order. This linked order does not require
additional new margin. As this order is
offsetting your position, it will reduce your
used margin when executed. Linked
orders must be for the full amount of the
original position. An order can be linked to
a position at the time the position is
opened. Additionally once the position is
opened a linked order can be added by
right clicking on the line with the position
in the Open Positions window and select
"stop/limit", complete the information and
click NEW. The line with the position in
the Open Positions window will now also
show the linked order.

How to Link Orders to Positions:


An order can be linked to a position
at the time the position is opened.
Additionally once the position is opened
a linked order can be added by right
clicking on the line with the position
in the Open Positions window and select
"stop/limit", complete the information and
click NEW. The line with the position in
the Open Positions window will now also
show the linked order.
Entry Orders: Entry orders can be stop
entry orders or limit entry orders. New
entry orders require new usable margin
to open the position. If you do not have
sufficient margin at the time the order is
placed, the order will not be accepted.
Once the order has been accepted, if your
usable margin falls below the amount
required to execute the order, that order
will be cancelled. To create an Entry order,
click on the ENTRY button on the top of the
Trading Station and follow the directions
in the Create an Entry Order Box.
How to Create an Entry order: To create
an Entry Order click on the ENTRY button
on the top of the Trading Station and
follow the directions in the Create an
Entry Order Box.

The following examples illustrate how margin works on the dbFX Trading Station:
Trader As account equity is
$1,000,000. The account is set
to 1% margin or 100:1 leverage.
This means that for every lot opened,
Trader A must maintain at least
$1,000 in margin.

At a value of $10 per 100.000, the


EUR-USD would have to fall 147 pips
before positions in the account would
be closed out. The following clarifies
how the margin close-out level is
determined:

Assume Trader A is long 400 lots of


EUR-USD at 1.2500 with a 3-pip
spread. The used margin is as follows:

Pips to margin close-out =

Used margin = margin requirement


per lot x number of lots
Used margin = $1000 x 400 =
$400,000
The spread cost is as follows:

Example:
Account 1234 has a balance of
$25,000 and is on 2% margin
requiring $2000 for each 100,000
in open positions. Account 1234
buys 200,000 USD/JPY and sells
400,000 EUR/USD. As the account
has 600,000 in open positions this
trader is required to have at least
$12,000 in equity to margin these
positions. As this trader has
$25,000 in his account the most
this trader can loose before
triggering a margin close-out is
about $13,000.

Spread cost = number of lots x pip


cost per lot x number
of pips in spread
Spread cost = 400 x $10 per pip x 3
pips = $12,000
Trader A is left with equity of
$988,000 after the $12,000 spread
cost is subtracted. The traders usable
margin is as follows:
Usable margin = equity used margin
Usable margin = $988,000 - $400,000
= $588,000

usable margin / (pip cost per lot x


number of lots)
Pips to margin close-out =
$588,000 / ($10 per pip x 400 lots)
= 147 pips
Trader A will receive a margin closeout, and all trades will be closed,
if the price drops 147 pips from the
entry price. Margin close-out price
= 1.2353.

Equity ($)

$988,000

Margin

1%

Leverage

100:1

Minimum Margin
Requirement

$1,000

# of Lots Open

400

Used Margin

$400,000

Usable Margin

$588,000

20

Trader Bs account equity is


$1,000,000. The account is set
to 2% margin or 50:1 leverage.
This means that for each lot opened,
Trader B must maintain at least
$2,000 in margin.

At a value of $10 per 100.000, the


EUR-USD would have to fall 47 pips
before positions in the account would
be automatically closed out. The
following clarifies how the margin
close-out level is determined:

Assume Trader B is long 400 lots of


EUR-USD at 1.2500 with a 3-pip
spread. The used margin is as follows:

Pips to margin close-out =

Used margin = margin requirement


per lot x number of lots
Used margin = $2000 x 400 =
$800,000
The spread cost is as follows:
Spread cost = number of lots x pip
cost per lot x number
of pips in spread
Spread cost = 400 x $10 per pip x 3
pips = $12,000
Trader B is left with equity
of $988,000 after the $12,000 spread
cost is subtracted. The traders usable
margin is as follows:
Usable margin = equity used margin
Usable margin = $988,000 - $800,000
= $188,000

21

usable margin / (pip cost per lot x


number of lots)
Pips to margin close-out =
$188,000 / ($10 per pip x 400 lots) =
47 pips
Trader B will receive a margin closeout, and all trades will be closed,
if the price drops 47 pips from the
entry price. Margin close-out price =
1.2453.

Equity ($)

$988,000

Margin

2%

Leverage

50:1

Minimum Margin
Requirement

$2,000

# of Lots Open

400

Used Margin

$800,000

Usable Margin

$188,000

Rollover
Conventionally, 16:00 London Time is
considered the end of the international
trading day, so when you hold open
positions through 16:00 London Time
you have technically held them overnight.
As a service to our clients, positions are
automatically rolled over every day at
16:00 London Time to prevent physical
settlement. When rolling positions
overnight, rollover is either added or
subtracted from your account.
Every currency you buy or sell has a
certain overnight interest rate associated
with it. The rollover varies based on the
interest rate differential between the two
currencies you are buying and selling,
and fluctuates day to day with the
movement of prices. These rollover rates
or swap rates are determined at the
Interbank level based on money market
rates.
For instance, on any given day, the
rollover can be $2.64 per lot for GBP/USD
and $8.06 per lot for EUR/USD. Rollover
amounts are shown in the currency of
your account and are posted in the
ROLL columns of the Simple Dealing
Rates Window every day at 12:00
London Time. For day traders that never
hold a position overnight through 16:00
London Time, rollover will not affect
trading.

Reports
At 16:00 London Time, funds are
automatically subtracted or added to
accounts with open positions because
of the automatic rollover. Funds are
added to the account for positions in
which the client is long the currency
bearing the higher interest rate. Funds
are deducted in the opposite
circumstance.

The DBFX Platform offers up to the


minute account statements. Account
Statements can be accessed directly for
the platform and run for time frames
ranging from the date your account was
opened through the current trading day.
To generate a report left click the
reports button located at the top right
of your screen:

After clicking on Report button,


Note: For positions that are open on
Wednesday and held overnight, the
amount added or subtracted to an
account as a result of rolling over a
position tends to be around three times
the usual amount. This 3-Day rollover
accounts for settlement of trades through
the weekend period.

A Report Parameters window appears


where you can choose the accounts and
the time period you wish to view.
Clicking on Run report will execute a
Report, as requested.

22

Trading Station
Customize Your Trade
Station

Colors, Sounds
and Fonts

Each window of the DBFX Platform can


be customized to meet your personal
specifications. There are several different
kinds of modifications that can be made.

To customize the colors, sounds, or fonts


on the trading screen, Click on System
at the top of the Trading Station and
select Options. An Options Box will
appear which will allow you to
disable/enable different sounds on the
Platform, customize the color settings,
and enlarge or reduce the size and style
of the labels used in the Platform.

Show or Hide Windows


To show or hide any of the windows in
the platform click on the boxes located at
the top of the trading screen. To hide a
screen, you may also click on the X
box in the upper right hand corner
of the window.

Change Window Screen


To move a window, or adjust the window
sizes, click on the outer edge of the
window and drag it to the size desired.

23

Language

Sounds

To change the language on the


FX Trading Station

To change the sounds on the


DBFX Platform:

Click on System

Scroll down to Language

Click on System at the top of the


Trading Station




Select the language you wish to view


the platform in.

And then click Options; Options Box


will appear

Scroll down to Sounds, on the


Options Box

Add your setting of choice and click OK

Once you have selected the language,


you must restart the FX Trading Station
for the changes to take effect.

24

Colors
To change the Colors on the DBFX
Platform:

Click on System at the top of the


Trading Station

Click Options

Options Box will appear

Click on the feature you want change

Choose your color

Click OK

25

Fonts
To change the Font on the DBFX
Platform:

Click on System at the top of the


Trading Station

Click Options

Options Box will appear

Click on the feature you wish to change

Pick the font

Click OK

26

Charts
Traders wishing to access real-time
charts from the dbFX platform can
download the Market Scope Chart
Plug-in from the dbFX website.
Once downloaded, traders will be able
to launch real-time charts from the
dbFX Platform by clicking on the Create
Market Shot icon located in the upper
right hand corner of the Platform.

After clicking the Create Market Shot


icon a window will appear allowing
traders to select the currency pair and
time frame to display in the chart. After
clicking ok a chart will be launched as a
new window in the DBFX Platform.
Once the chart has launched traders
can add indicators and trend lines to
the chart by right clicking on the chart
and selecting the appropriate option
from the chart menu.
The time zone for these charts is New
York Local time in relation to the time
zone on the Trading Station and Reports
is London local time.

27

Product Inquiries and Service Numbers


dbFX provides continual 24 hour support from 22:15 London time, (5:15pm NY time)
Sunday through 21:00 London time (4:00pm NY time) Friday.
Toll-Free US Sales: 1-888-363-DBFX (3239)
Sales and Client Services: 1-212-710-9000
Fax (NY Local and International): 1-212-710-9001
Fax (US Toll-Free): 1-888-368-DBFX (3239)
Fax (UK Toll-Free): 0-808-234-8021
International Toll-Free
Argentina

0-800-666-2403

Brazil Embrtl

0-800-891-6304

France

0-800-90-6498

Germany

0-800-182-3083

Japan KDD

00531-13-1178

Mexico

001-888-363-3239

Singapore

800-1301-497

Sweden

0-20-79-68-47

Switzerland

0-800-55-7045

UK

0-808-234-8020

Venezuela

0-800-162-7197

Chinese Language Customer Service


Hong Kong Phone 852-3420-9500
Hong Kong Fax
852-3420-9501

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