dbfx trading station user guide
TRANSCRIPT
-
8/6/2019 DbFX Trading Station User Guide
1/28
User Guide
-
8/6/2019 DbFX Trading Station User Guide
2/28
Table of Contents
How to trade on dbFX 3
Viewing Rates 3
Spot Trading 6
Opening a position on dbfx 6
Open a position at the current market rate 6
Other Ways Positions can be opened 7
Placing orders on dbFX 8
Placing an Order Away From the Current Market Rate 8Modify an Entry Order 9
Canceling an Entry Order 9
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
2
-
8/6/2019 DbFX Trading Station User Guide
3/28
Viewing Rates
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 thetop 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 CurrencyThe 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.
3
How to trade on dbFX
Advanced Dealing Rates Window
-
8/6/2019 DbFX Trading Station User Guide
4/28
Buying and Selling
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 thedifference between the rate where
you can sell a currency pair and the
rate where you can buy a currency pair.
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.
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.
4
Examples:
Buying
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.
-
8/6/2019 DbFX Trading Station User Guide
5/28
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
5
-
8/6/2019 DbFX Trading Station User Guide
6/28
Opening a positionon 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:
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.
Under Order Type, Select anorder 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.
No Order Type Specified
Complete the standardinformation 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.
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.
At Best Order TypeComplete 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.
6
Spot Trading
Parameters:
Account Order Type Buy/Sell Pips if
Currency applicable to Amount that order type
-
8/6/2019 DbFX Trading Station User Guide
7/28
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.
7
-
8/6/2019 DbFX Trading Station User Guide
8/28
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.
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.
To place an entry order left click on
the Entry button at the top of the
trading screen.
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 Currency Buy/Sell Amount
The difference is that for an entry order
you set a specific level to trigger the
execution of the trade.
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.
8
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.
Parameters:
Account Currency Buy/Sell Amount
Price
-
8/6/2019 DbFX Trading Station User Guide
9/28
Modify 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
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.
Click on the Ok button after all the
modifications have been made.
Once the modification is completed,
the updated information will be reflectedin 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.
Canceling an Entry Order
To cancel an existing entry order, right
click on any part of the orders window
and select remove order.
After selecting remove order as outlined
above, you will be asked to confirm that
you wish to delete the selected orders.
ClickYes to cancel the trade or No tomake no changes to the order. Once the
Yes button is clicked, the order will be
deleted from the Orders window and
officially removed.
9
-
8/6/2019 DbFX Trading Station User Guide
10/28
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 positionbefore 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.
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.
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 toplace the stop/limit order.
Click the advanced button to place a
trailing stop. (Trailing stops are
explained on page 14)
10
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.
-
8/6/2019 DbFX Trading Station User Guide
11/28
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 yourorder 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 openas shown on page 10.
11
-
8/6/2019 DbFX Trading Station User Guide
12/28
Modify/Delete a Stop or Limit
Order
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.
If you wish to delete the order simplyclick on the delete button in the
stop/limit order window.
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 becomesan open position.
Example:
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
The trader then wishes to place astop 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.
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
-
8/6/2019 DbFX Trading Station User Guide
13/28
Trailing Stops
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.
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.
Example:
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.
The market then moves up by 30 pipsto 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 LogicdbFX 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
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
13
-
8/6/2019 DbFX Trading Station User Guide
14/28
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 theOrder 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 continuallyincrementally 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. Executedtrades will display in the Closed Positions
window.
14
-
8/6/2019 DbFX Trading Station User Guide
15/28
Closing positions
on dbFX
Closing a position from the
Open Positions Window
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 downthe 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 0and the order will be executed at the
current market price.
Before clicking Ok you can cancel the
order by clicking on the Cancel button.
Click the Ok button after all the
selections have been made to close
the position.
Once the position is closed it will
disappear from the Open Positions
window and move into the ClosedPositions window until the close of that
days trading at 16:00 London Time.
15
-
8/6/2019 DbFX Trading Station User Guide
16/28
16
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.
-
8/6/2019 DbFX Trading Station User Guide
17/28
The Accounts Window
The accounts window of the dbFX
Platform displays all pertinent account
information and includes a real-time
margin tracking feature.
Included in the accounts window from
left to right is:
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 orloss 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 percentageof 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)
Multiple AccountsWindow
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 theywish to trade which will allow traders
to place the same trade on multiple
accounts.
17
Account Information
-
8/6/2019 DbFX Trading Station User Guide
18/28
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.
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 aggregateamount 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.
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.
-
8/6/2019 DbFX Trading Station User Guide
19/28
19
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.
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 theoriginal 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 alsoshow 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 inthe 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.
-
8/6/2019 DbFX Trading Station User Guide
20/28
20
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.
Assume Trader A is long 400 lots ofEUR-USD at 1.2500 with a 3-pip
spread. The used margin is as follows:
Used margin = margin requirement
per lot x number of lots
Used margin = $1000 x 400 =
$400,000
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 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
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:
Pips to margin close-out =
usable margin / (pip cost per lot x
number of lots)
Pips to margin close-out =
$588,000 / ($10 per pip x 400 lots)
= 147 pips
Trader A will receive a margin close-
out, and all trades will be closed,
if the price drops 147 pips from the
entry price. Margin close-out price
= 1.2353.
Equity ($) $988,000
Margin 1%
Leverage 100:1
Minimum Margin
Requirement $1,000
# of Lots Open 400
Used Margin $400,000
Usable Margin $588,000
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.
The following examples illustrate how margin works on the dbFX Trading Station:
-
8/6/2019 DbFX Trading Station User Guide
21/28
21
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.
Assume Trader B is long 400 lots ofEUR-USD at 1.2500 with a 3-pip
spread. The used margin is as follows:
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
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:
Pips to margin close-out =
usable margin / (pip cost per lot x
number of lots)
Pips to margin close-out =
$188,000 / ($10 per pip x 400 lots) =
47 pips
Trader B will receive a margin close-
out, and all trades will be closed,
if the price drops 47 pips from the
entry price. Margin close-out price =
1.2453.
Equity ($) $988,000
Margin 2%
Leverage 50:1
Minimum Margin
Requirement $2,000
# of Lots Open 400
Used Margin $800,000
Usable Margin $188,000
-
8/6/2019 DbFX Trading Station User Guide
22/28
22
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 themovement 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 ofyour 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.
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.
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.
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,
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.
Rollover Reports
-
8/6/2019 DbFX Trading Station User Guide
23/28
Customize Your TradeStation
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.
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.
Colors, Soundsand Fonts
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.
23
Trading Station
-
8/6/2019 DbFX Trading Station User Guide
24/28
-
8/6/2019 DbFX Trading Station User Guide
25/28
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
-
8/6/2019 DbFX Trading Station User Guide
26/28
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
-
8/6/2019 DbFX Trading Station User Guide
27/28
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
-
8/6/2019 DbFX Trading Station User Guide
28/28
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