Let’s check out the 7 popular order types in Rakuten FX to help you trade!
|1||Streaming||Placing trades through Streaming enables you to place trade by clicking on live rate panels. With hedging function, you can open two orders in opposite direction at the same time.|
|2||AS Streaming||“AS” means “Auto Select”. AS Streaming enables orders executed immediately without setting Entry or Close. You can trade more speedily. No hedging function. Once AS Streaming order is submitted, open position(s) in the opposite direction will be closed automatically.|
|3||AS SPEED||Similar with AS Streaming and can show both real-time price rate and chart simultaneously. (Only available on iSPEED FX)|
|4||Leave Order||Leave Order is either to buy or sell a currency pair at a specific price. The most common types of Leave Order are “Limit Order” and “Stop Order”. Decide Entry Price WITHOUT Stop Loss (SL) / Take Profit (TP).|
|5||IFD||“IFD” means “If Done”. You can place entry order and close order at the same time. If the entry order part is executed, the close order part will be activated accordingly. Need to decide 2 prices: 1. Entry price, 2. Stop Loss (SL) or Take Profit (TP).|
“OCO” means “One cancel the other order”. You can place 2 entry orders or 2 close orders at the same time. Once the market reaches one side, the remaining side will be cancelled automatically.
1. S/S: SELL below Market price, SELL above Market price
2. B/B: BUY above Market price, BUY below Market price
3. Limit (S/B): BUY below Market price, SELL above Market price
4. Stop (S/B): BUY above Market price, SELL below Market price
|7||IFO||“IFO” is a combination of an IFD and an OCO order, which means setting an IFD entry order and 2 corresponding OCO close orders. Need to decide 3 prices (full set of pending order): 1. Entry price, 2. Stop Loss (SL), 3. Take Profit (TP).|
Placing trades through Streaming enables you to place trade by clicking on live rate panels.
Just like below table, if you click order “Sell” with streaming, the sell order will be executed at the price of 1.04061.
With hedging function, trader can open two orders in opposite direction at the same time.
For example, if you already had a buy order of 1,000 EUR/USD at 1.04100, and would like to hedge with a sell order, you can use streaming to place a sell order with same amount of EUR/USD at 1.04061. Finally, you will have two orders in open position:
1,000 EUR/USD Buy at 1.04100
1,000 EUR/USD Sell at 1.04061
2. AS Streaming
“AS” means “Auto Select”. When an order is placed, the system will automatically select for order entry or order close. You can trade more speedily.
AS Streaming supports different sequence of closing position e.g., FIFO, LIFO, P/L Loss, P/L Profit. You can change your setting at “AS Streaming Settings”.
No hedging function. Once AS Streaming order is submitted, open position(s) in the opposite direction will be closed automatically.
For example, if you already had a buy order of 1,000 EUR/USD at 1.04100 and using AS streaming to place a sell order with same amount of EUR/USD at 1.04061, the buy order at 1.04100 will be automatically closed at 1.04061.
3. AS SPEED
Similar with AS Streaming and can show both real-time price rate and chart simultaneously. You can manage the open position by checking the average rates, floating P/L, usable margin, etc. in a single window.
(Only available on mobile app: iSPEED FX)
4. Leave Order
Leave Order is either to buy or sell a currency pair at a specific price. The most common types of Leave Order are “Limit Order” and “Stop Order”.
For example, place a “Sell” “Stop Loss Order” at 1.04051 when the current market price is 1.04071. If the market price drops to 1.04051, the order will be executed.
“IFD” means “If Done”. You can place entry order and close order at the same time. If the entry order part is executed, the close order part will be activated accordingly.
When the current market price of EUR/USD at 1.04061, place an IFD entry order “Buy” at 1.04051 and close order “Sell” at 1.04071. If the market price drops to 1.04051, the entry order (1) will be executed and the close order (2) will be activated.
“OCO” means “One side done then cancel the other order”. You can place 2 entry orders or 2 close orders at the same time. Once the market reaches one side, the remaining side will be cancelled automatically.
OCO is helpful when you want to decide to sell or buy depending on the market situation. Also, if you use OCO when close order, you can set stop loss and profit taking order at the same time.
When the current market price of EUR/USD at 1.04061, place an OCO “Buy” order at 1.04071 and “Sell” order at 1.04051.
After open a “Buy” order of EUR/USD at 1.04051, place an OCO “Sell” order at 1.04071 to take profit and “Sell” order at 1.04041 to stop loss. Either one will be executed, and another order will be cancelled automatically.
“IFO” is a combination of an IFD and an OCO order, which means setting an IFD entry order and 2 corresponding OCO close orders. Once the IFD entry order is executed, 2 OCO close orders will be activated accordingly, but only one side of an OCO order will be executed, the remaining order will be cancelled automatically.
Place an IFD entry order at 1.04061 and two OCO close orders at 1.04071 and 1.04041.
After the entry order (1) is executed, then the two OCO (2- 1 and 2-2) will be activated.
|#||The total accumulated number of accounts opened with Rakuten Securities was 8 million, as of 20 June 2022. Please click here for details.|
|^||Rakuten Securities was ranked as the world’s fourth largest retail forex broker by volume in Q3 2020 from Finance Magnates.|
|Ŧ||Only available for clients who hold a Rakuten FX account.|
|¤||Fixed spreads are offered in Rakuten FX account during at least 95% of the time of the monthly core-time trading period (8am to 2am HKT of every trading day). However it is not guaranteed and it shall not apply to the extreme markets circumstances, include but not limit to low liquidity, high volatility, news events and public holidays. During extreme markets circumstances, spreads may widen beyond the offered spreads. Please always refer to the trading platforms for the most updated spreads.|
|ɞ||Order execution rate is calculated based on the AS Streaming and Streaming trading orders in 10k or less order size with lower than 1 pip slippage setting in which were executed during the period between Jan 1 to Nov 1, 2017.|
|ʊ||MARKETSPEED FX platform is the winner of “Online Forex Trading Platform” by Good Design Award in 2012.|
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When executing customers’ trades, Rakuten Securities HK can be compensated in several ways, which include, but are not limited to: charging fixed lot-based commissions at the open and close of a trade, adding a markup to the spreads, acting as a counterparty in the transactions. As a result, Rakuten Securities HK’s interests may be in conflict with yours.
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The risk of loss in leveraged foreign exchange trading can be substantial. You may not be suitable as you may sustain losses in excess of your initial margin funds. Leverage can work against you. Placing contingent orders, such as “stop-loss” or “stop-limit” orders, will not necessarily limit losses to the intended amounts. Market conditions may make it impossible to execute such orders. You may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, your position may be liquidated. You will remain liable for any resulting deficit in your account. You should therefore carefully consider whether such trading is suitable in light of your own financial position and investment objectives. Do not speculate with capital that you cannot afford to lose. If you decide to trade products offered by Rakuten Securities HK, you must read and understand the information and disclosure provided by Rakuten Securities HK. Rakuten Securities HK may provide general commentary which is not intended as investment advice and must not be construed as such. Seek advice from a separate financial advisor. Rakuten Securities HK and Rakuten Group assumes no liability for errors, inaccuracies or omissions; does not warrant the accuracy, completeness of information, text, graphics, links or other items contained within these materials. Read and understand the Terms and Conditions on Rakuten Securities HK’s website prior to taking further action.
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