Through FxPro MetaTrader 4 traders may send instructions for either instant orders or pending orders.

Instant Order: this is an order to either buy or sell at the ‘ask’ or ‘bid’ price (respectively) as it appears in the quotes flow at the time the client presents the order for execution.

Stop Orders: this is an order to buy or sell once the market reaches the ‘stop price’. Once the market reaches the ‘stop price’ the ‘stop order’ is triggered and treated as a ‘market order’*. If the ‘stop order’ is not triggered it shall remain in the system until a later date subject to the conditions described in the ‘Good till Cancel’ section. In terms of Contracts for Difference (‘CFDs’) on FX, spot metals and futures ‘stop orders’ should be placed a minimum number of pips away from the current market price; for further information please see MT4 Trading Conditions

Stop Loss: this is an order to minimise losses. Once the market reaches the ‘stop loss price’ the order is triggered and treated as a ‘market order’*. If the ‘stop loss’ is not triggered it shall remain in the system until a later date. In terms of CFDs on FX, spot metals and futures ‘stop loss’ should be placed a minimum number of pips away from the current market price; for further information please see MT4 Trading Conditions.

Limit Orders: this is an order to buy or sell once the market reaches the ‘limit price’. Once the market reaches the ‘limit price’ the ‘limit order’ is triggered and executed at the ‘limit price’ or better. If the ‘limit order’ is not triggered it shall remain in the system until a later date subject to the conditions described in the ‘Good till Cancel’ section. In terms of CFDs on FX, spot metals and futures ‘limit orders’ should be placed a minimum number of pips away from the current market price; for further information please see MT4 Trading Conditions.

Take Profit: this is an order to secure profits. Once the market reaches the ‘take profit price’ the order is triggered and treated as a ‘limit order’. If the ‘take profit’ is not triggered it shall remain in the system until a later date. In terms of CFDs on FX, spot metals and futures ‘take profit’ should be placed a minimum number of pips away from the current market price; for further information please see MT4 Trading Conditions.

*Market Order: this is an order to buy or sell at the current market price that is available. The system automatically aggregates the volume received from third party liquidity providers and executes the ‘market order’ at VWAP (‘Volume-Weighted Average Price’) that is the average and best available price at the time of the execution. Once the ‘market order’ is triggered it shall be subject to the conditions described in the ‘Good till Cancel’ section.

Good till Cancel (‘GTC’) (= Expiry): this is a time setting that the client may apply to ‘pending orders’. The client may choose a specific date in the future until which the order may remain ‘live’ and pending execution; if the order is not triggered during this timeframe it shall be deleted from the system.

Pending Order Modification/ Cancellation: the client may modify/ cancel a ‘pending order’ if the market did not reach the level of the price specified by the client.

Re-quoting: this is the practice of providing a secondary quote to the client after an ‘instant order’ has been submitted; the client must agree to this quote before the order is executed. FxPro will re-quote ‘instant orders’ if the requested price originally specified by the client is not available. The secondary quote provided to the client is the next available price received by FxPro from its third party liquidity providers. FxPro does not re-quote ‘pending orders’

Slippage: at the time that an order is presented for execution, the specific price requested by the client may not be available; therefore, the order will be executed close to or a number of pips away from the client’s requested price. If the execution price is better than the price requested by the client this is referred to as ‘positive slippage’. In contrast, if the execution price is worse than the price requested by the client this is referred to as ‘negative slippage’. Please be advised that ‘slippage’ is a normal market practise and a regular feature of the foreign exchange markets under conditions* such as illiquidity and volatility due to news announcements, economic events and market openings. The FxPro automated execution software does not operate based on any individual parameters related to the execution of orders through any specific client accounts.

* Please note that this is not an exhaustive list.

Commission: in the context of MetaTrader4, the client shall be charged commission; further information is available online at: www.fxpro.com/trading/products/mt4-futures

Instant Order(s)	Instant
	Execution	Instant Order
	Re-quoting
	Slippage	N/A
	Level restrictions on 'stop & limit' orders	N/A
	Commission	Applicable for CFDs on futures only
Pending Orders	Buy Stop
	Execution	Instant Order
	Re-quoting
	Slippage	N/A
	Level restrictions on 'stop & limit' orders	N/A
	Commission	Applicable for CFDs on futures only
	Sell Stop
	Execution	Instant Order
	Re-quoting
	Slippage	N/A
	Level restrictions on 'stop & limit' orders	N/A
	Commission	Applicable for CFDs on futures only
	Stop Loss
	Execution	Instant Order
	Re-quoting
	Slippage	N/A
	Level restrictions on 'stop & limit' orders	N/A
	Commission	Applicable for CFDs on futures only
	Buy Limit
	Execution	Instant Order
	Re-quoting
	Slippage	N/A
	Level restrictions on 'stop & limit' orders	N/A
	Commission	Applicable for CFDs on futures only
	Sell Limit
	Execution	Instant Order
	Re-quoting
	Slippage	N/A
	Level restrictions on 'stop & limit' orders	N/A
	Commission	Applicable for CFDs on futures only
	Take Profit
	Execution	Instant Order
	Re-quoting
	Slippage	N/A
	Level restrictions on 'stop & limit' orders	N/A
	Commission	Applicable for CFDs on futures only

Bid prices on charts

Charts in the terminal are built and shown only for Bid prices. However, for the opening of long positions and closing of short ones, Ask price is always used. But the ASK price is not shown in the chart in any way and it cannot be sent. More scrutiny and review is available by enabling the "Show Ask line" parameter. After this command has been executed, an additional horizontal line corresponding with the current Ask price of the last bar will appear in the chart.

Trailing stops

Stop Loss is intended for the reduction of losses where the symbol price moves in an unprofitable direction. If the position becomes profitable, Stop Loss can be manually shifted to a break-even level. To automate this process, Trailing Stop was created. This tool is especially useful when prices change strongly in the same direction or when it is impossible to watch the market continuously for whatever reason.

Bear in mind that Trailing Stops operate in the client terminal, not in the server (as with Stop Loss or Take Profit). This is why they will not work if the terminal is off, unlike the orders above

Eas and hft (high frequency trading)

Whatever your trading style, you can execute your strategy on any instrument at FxPro. MetaTrader 4 is fully compatible with Expert Advisors and automated trading systems as allowed by the prevailing market forex conditions and liquidity.

Bear in mind that EAs and HFT operate in the client terminal, not in the server (as with Stop Loss or Take

Profit). This is why they will not work if the terminal is off, unlike the orders above.

Margin level required to open lock or hedge positions

A lock or hedge position appears when a client opens a trade for the same volume in the contrary direction of one already open. This is not the same as closing the initial trade, since the lock position requires that both remain open.

When you open a lock position (the contrary position) you will not be asked for additional margin as long as your Margin Level is higher than 100% on your Trading Account.

Since the Margin Level ratio expresses the relation between the Equity and the Used Margin (Margin Level = [Equity / Used Margin] * 100) you can see that as long as you have positive Free Margin (Margin Level > 100%) you will be able to open lock positions without additional margin. If you don’t have positive Free Margin you won't be able to open any new position including lock.

You can check your Equity, Used Margin, Free Margin and Margin Level on the status line of your forex Trading Account.

Spread variation

Please note that under the ‘Terms and Conditions of Business’ the company reserves the right to increase or decrease the spread beyond the typical maximum spread that is displayed under the product specifications. This is likely to happen during abnormal market conditions.