Posted by Mohammad Rahhal, Last modified by Diana Alkouni on 02 September 2020 02:17 PM
The easiest way to use the VertexFX Client Terminal is to open a demo account and start trading on the available symbols on the market watch.
How to open a demo account:
As soon you install the client terminal and lunch it, the window of opening a demo account appears to you.
And also you can open this window by going to the start bubble and choose open demo account.
Fill your personal information for creating a demo account then press Send and you will receive the login information to the inserted e-mail.
From the bottom right corner of the platform you will know you connection statue, so when it will be you can start using the terminal and start making trades.
How to start trading and open positions:
To make a fast trade just go to the Market Watch and double click on the desired symbol that you want to trade with.
Then the one click trade screen will open for you, from this window you can set the amount of your trade and by one click open your trade.
From this window you will notice that the bid price is the sell price and the ask price is the buy price.
And the spread will be the difference between the bid and ask prices.
To open a market order just click on the "Sell at/ Buy at" button so your position will be opened on the bid/ask price.
And if you want to set a limit stop order just click on any (Sell Limit, Sell Stop, Buy Limit or Buy Stop) from the one click trade screen, then your limit/ stop order will be pending till the market price hit your limit/ stop order price and turn to a market order.
To view your position/ orders which you have placed, go to the Trade Panel and you will see your open positions and the pending orders.
How to Close your open positions:
To close any of your open position, press right click on the position in the trade panel and choose close position, then the one click trade screen will open on the close tab.
From this window you can close the position with the market price by clicking on the "Close at Price".
Or you can set a take profit or stop loss order for this position by clicking on the desired close price on this window.
If you have many Sell and Buy position on the same symbol, you can close them by hedge by going to the tab Close By Hedge then either you will close you position with another opposite one by hedge, or close all your positions by hedge.
Lot: It is the trading unit in forex, and since currencies are traded in fixed contract sizes, for example the contract size for a certain symbol is 1,000$ then the one lot of this symbol equals to 1000$. Check more in Wikipedia.
Limit Order: A limit order is an order to buy a security at no more than a specific price, or to sell a security at no less than a specific price. Check more in Wikipedia.
Stop Order: A stop order, also referred to as a stop-loss order, is an order to buy or sell a stock once the price of the stock reaches a specified price, known as the stop price. Check more in Wikipedia.
Liquidation Point/ Level: The phrase that called on the process of account closing, whereas account will liquidate when reached to the minimum valid Equity Point/ Level. Check more in Wikipedia.
Balance: The real amount of money a client has in his account.
Flt P/L: The floating profit or loss the client gains or loses respectively.
Credit: An amount of money put to the account of a certain client in order to be paid later (like a debt) when the account liquidate.
Used Margin: Also called Margin Requirement. The amount of money that can client afford in his account to buy 1 lot of a certain currency, which takes (-1000) off for each 1 lot, means 100$ for each 0.1 lot.
Margin Level: This equal to (Equity/Margin Req.) * 100% (the bigger number, the better), it is the most important value that both the client and the market maker should keep on watching, because, depending on its value, it can be decided how many lots the client can buy with the money left with him/her, and if the account is close to Liquidation point. If it was 100.00% or more, the account is on the safe side, if it was less, then there is a danger of liquidation to happen soon.
Free Margin: Called also Effective Margin, which is equal Equity + Margin Req. (Minus value indicates possible danger and closeness to Liquidation). It means how many lots of a certain currency client can buy with the money which he actually has now.