Foreign Exchange Trading | Spot Price Executions | White Label

Orders
Hotspot FXr handles orders following interbank standards. Stop Loss Orders are executed when the bid (on a stop loss buy order) or offer (on a stop loss sell order) triggers the order(s).

In normal market conditions, the process of inputting a new order, or modifying or cancelling an existing order, usually takes less than one minute. In volatile "fast" markets, the order input process may take several minutes. Clients should leave sufficient time to input new orders, or to modify or cancel existing orders. New orders and requests to modify or cancel existing orders are not active until they are accepted by Hotspot FXr. Upon acceptance, Hotspot FXr will notify the client - your order blotter will be electronically updated when accepted by Hotspot FXr. It is possible that volatile market conditions or other factors as set forth more specifically in our account documentation, may prevent an order from being input, modified or cancelled.

This procedure is used only for orders entered through the electronic order system. It does not apply to bids and offers placed on the system through normal trade entry.

Three types of orders can be entered via our electronic order system found by clicking on the 'ORDERS' tab toward the top of the system: Stop Loss (SL), Take Profit (TP) and One Cancels Other (OCO).

Stop/Loss (S/L) An order to limit the loss on an open position, potentially minimizing your risk exposure. If you hold a long position on a currency pair (you bought the pair), you could place a Stop/Loss order that would sell your position once the rate traded through a specified price. For example, if you bought EUR/USD at 1.200 and set a Stop/Loss order at 1.1945, your position would be sold if the price declined and went offered at that rate. If you hold a short position on a currency pair (you sold the pair), you could place a Stop/Loss order that would buy your position once the rate went bid at the stop loss order rate. For example, if you sold USD/JPY at 112.50 and set a Stop/Loss order at 113.00, your position would be bought if the price increased and went bid at 113.00.

Take Profit (T/P) An order to buy (sell) your short (long) position in order to take profits. For example, if you bought EUR/USD at 1.2000 and set a Take/Profit order at 1.2130, your position would be sold should the price rise to 1.2130. Similarly, if you sold USD/JPY at 113.00 and set a Take/Profit order at 112.20, your position would be bought should the price fall to 112.20.

One Cancels Other (OCO)This constitutes a mix of both a Stop/Loss and a Take/Profit order. Example: You place two orders simultaneously. Once one side of the order is dealt, the other is cancelled. In this manner, you can minimize your exposure to market volatility. For example, if you are long USD/CHF at 1.2800, you could set an OCO at 1.2960 and 1.2720. If USD/CHF rallied to 1.2960, you would take profits and your Stop/Loss would be cancelled. If USD/CHF dips to 1.2720 offered, you position would be cut at a loss, and your Take/Profit order would be cancelled.

There is no assurance that your order will be executed at your specified stop loss or take profit rate. You should understand, therefore, that a Stop/Loss order will not necessarily limit your loss to the intended amount of loss related to the rate of your order.