The Rakuten Securities HK Trading Station is equipped with cutting-edge technology, including some of the best execution in the forex industry and the ability to trade directly on charts. Below you can learn about the individual features of the platform.
This is your order to buy or sell at the price available at that time. In the Dealing Rates window, simply go to the currency pair you want and click on its buy or sell price.
The “Create a Market Order” window will appear, and you will see the current, updated price in the rate window. Here you can select your order type:
Your entire order will be filled at the best available price(s) at the time the system receives it.
The order will usually be filled at the price you see on the screen. Occasionally, however, if the market has moved while you are making your order, the price may differ.
Use this option to limit your order to being filled at your price, or within a certain distance of the current price.
Use a “Close” order to close any currently open trade at the current price; your profit or loss will be added or subtracted from your account equity. Simply click on the Close price in the “Open Positions” window below (in this case, 1.41263), or select the trade and click the “Close” button at the top of the trading station.
A “Close Position(s)” window will appear:
This option allows a trader to buy or sell at a price different from the current price. Use this to automatically open a trade for you when the price you designate is reached—whether your computer is on or not. There are two types of Entry orders:
This is an order to make an “At Market” market order when the market touches a specific price. Use it when you want to enter the market at a less-favorable price than the current price (higher price if buying, lower if selling).
Why might you want a worse price? Example: The EUR/USD is currently 1.36415. You believe that the price reaching 1.40000 will confirm a continued upward trend—and a profitable trade. You also think that if it does not reach 1.40000, the price will fall. You therefore want to buy only if the price reaches 1.40000, and you do so with a Stop Entry order to Buy at 1.40000.
This is an order to enter the market at a better price than the current one. Limit entry orders are filled at a designated price, or better. When buying, lower prices are better, and when selling, higher prices are better. (Since the system allows you to place orders anywhere, you can even use limit entries to place orders inside the spread—to gain incremental price improvements.)
To make either a Stop or a Limit Entry order, click on the “Entry Button” at the top of the trading station, and choose the parameters of your order in the “Create an Entry Order” box.
This type of order will help you manage your risk by preventing one trade from wiping out an account. This order automatically closes your entire position at the best available price once a certain price is reached. A Stop-Loss order can only be set at a price less favourable than the current price.
Alternate route: You can also enter a Stop-Loss order by selecting a trade in the “Open Positions” window, and clicking on the “Stop” button of the desired open position.
Once a Stop has been set, you will see the Stop price in the Stop column in the “Open Positions” window.
If the Close price touches 1.42000, the entire trade will be automatically closed, with the loss subtracted from your equity.
The trailing stop feature allows traders to place a stop loss order, which automatically updates to lock in profit while the market moves in your favor. Trailing stops can be placed by clicking the advanced button in the Create Market Order, Create Entry Order, or Stop Order window. Please keep in mind that this feature does not protect against losses. There are two types of trailing stop in FX Trading station, dynamic or fixed, meaning they continually follow the market as it moves in your favor, even when the market moves only 1/10th of a pip. To set a trailing stop, you must first set a stop. This is the initial level where your stop order will start from. To make the stop order a trailing stop, simply check the Trailing Stop box. If choosing the Dynamic Trailing Stop, for every 1/10th of a pip the market moves in your favor, the stop will move the same amount. If choosing the Fixed Dynamic Trailing Stop, for the pips that you set the market moves in your favor, the stop will move the same amount. So, if you bought, your stop will move up when the currency pair rises. If you sold, your stop will move down when the currency pair falls.
You buy EUR/USD at 1.5492(1) and place a 20-pip stop at 1.5472(1). You then check the Trailing Stop box to activate the trailing stop and choose the Dynamic Trailing Stop The EUR/USD then rises by 30.2 pips to 1.5522(3) with every single 0.1 of a pip, your stop automatically moves up to 1.5502(3), locking in your profits. The stop will continue to rise if the EUR/USD rises. If the EUR/USD falls, the stop will remain at 1.5502(3). If the EUR/USD falls to 1.5502(3), your stop will execute, and close your trade.
You buy EUR/USD at 1.5492(1) and place a 20-pip stop at 1.5472(1). You then check the Trailing Stop box to activate the trailing stop and choose the Fixed Trailing Stop, here we take 20-pip fixed stop as an example The EUR/USD then rises by 30.2 pips to 1.5522(3) with every 20- pip, your stop automatically moves up to1.5492(1), locking in your profits. The stop will continue to rise if the EUR/USD rises. If the EUR/USD falls, the stop will remain at 1.5492(1). If the EUR/USD falls to 1.5492(1), your stop will execute, and close your trade.
While Trailing Stops do not protect against losses, the goal is to lock in your profits when the market moves in your favor. Important: Pay attention to your stop price.
You also have the ability to place stops and limits in terms of pips as opposed to setting specific price levels. Limits will be relative to the market opening price at the time the trade was opened. Stops will be relative to the market offsetting price at the time the trade was opened. The difference between the opening price and the offsetting price is the spread. When buying, the open price is the ask, and the offsetting price is the bid. When selling, the open price is the bid, and the offsetting price is the ask. This logic is in place to prevent you from being stopped or limited out inside the spread if slippage occurs when you are trading with tight stops and limits. Note: If you set a 10 pip stop using the Stop Distance feature, you are setting a stop 10 pips from the offsetting price PLUS the prevailing spread at the time it was opened. See examples below.
(In this example, this loss incorporates the 3 pip spread (3 USD) when the trade was activated and filled, this being your transaction cost for the trade. The spread is your cost of transaction on any trade.)
A Limit order works much like a Stop-Loss order, but you set it to automatically close your trade when the more favourable price you selected is reached. Set a Limit order as you would set a stop order; the Limit price appears in the Limit column in the “Open Positions” window.
Once the market reaches 1.41000, the trade will automatically close, and the profits will be added to your balance.
OCO stands for “One Cancels Other.” It simply means that if one part of the order is executed, the other part will be automatically canceled. On the FX Trading Station, Entry Orders that are linked as OCO orders will appear under the “OCO” section of the Orders window. For example, the two 30K EUR/USD sell positions shown below are linked as OCO. If one of these entry orders executes, the other order will be deleted.
You can choose to make either “Simple OCO Orders” or “Complex OCO Orders”.
Complex OCO orders allow you to link 2 or more entry orders to each other as OCO orders. These orders can be all in one currency pair, or across many currency pairs. There are several different ways to set Complex OCO Orders.
A box will appear with your existing available entry orders. To link your orders as OCO you can select them individually and click “Add”, or you can Select All. You will then see these orders move into the “OCO Orders” section of the box. Click “OK” to complete the order. You can even link as many orders as you like in this way.
The moment that any one of the entry orders that is a part of your Complex OCO Order executes, all the other order(s) in that OCO will be cancelled, and will disappear from your Orders Window.
“Simple” OCO Orders offer you a way to make 2 linked Entry Orders in the same currency pair with just a few clicks.
In the Dealing Rates window, right-click on the currency pair that you want to trade, and choose “Simple OCO”.
In the Simple OCO box that appears, you can set the trade size, and choose if you want both orders to be Sell orders, Buy orders, or one of each. When you click OK, your new OCO orders will appear in the Orders window.
In the Simple OCO box that appears, you can set the trade size, and choose if you want both orders to be Sell orders, Buy orders, or one of each. When you click OK, your new OCO orders will appear in the Orders window.
The “Sync Rates” box is checked by default. When the “Sync Rates” box is checked, and you change either of the entry order prices, the software will automatically determine what the other entry order’s price should be. If your order is for a Buy and a Sell, the software will set the 2 entries an equal distance from each side of the current market price, and link them as OCO. When the “Sync Rates” box is NOT checked, you can enter whatever values you wish for each order. They will still be automatically linked as OCO.
Simple OCO orders are well suited to taking advantage of range breakouts or pullbacks in a trend. For example, before an important news event, the market will often move sideways in a range. When the news is released, the price could break to the upside or to the downside. If you are expecting a break in either direction, you could place a Simple OCO order to buy above the range and to sell below the range.
When a currency pair is trending, the price will often pull back within the larger move of the uptrend, while other times, the price will break support or resistance and continue its trend. You can set the OCO order to buy above resistance and to buy at the trendline.
| ^ | Rakuten Securities was ranked as the world’s fifth largest retail forex broker by volume in August 2017 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. |
| § | Rakuten Securities HK offers Trading Station platform through its partner FXCM. |
| ※ | Commission is charged per trade side on both open trade(s) and close trade(s). All commission fees may be subject to change from time to time without prior notice. Please always refer to the most updated Schedule of Standard Fees and Charges. |
| ʊ | MARKETSPEED FX platform is the winner of “Online Forex Trading Platform” by Good Design Award in 2012. |
To safeguard your trading account(s), you are highly recommended to set a strong password and change it regularly.
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.
Rakuten Securities Hong Kong Limited (“Rakuten Securities HK” SFC CE Number: AIM232) is a wholly owned subsidiary of Rakuten Securities, Inc. (*) Rakuten Securities, Inc., one of the major online brokers in Japan, founded in 1999, is a subsidiary of Rakuten, Inc. (TOKYO: 4755).
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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