Trading
and Contract Specifications
Margin Requirement:
Approximately 2% for individual shares, €
50 per lot for other
products. Click here
for margin requirements by product.
Overnight Interest: Generally €
0.0 to €
1.50 per day per lot
charged on positions held past 5PM EST. These amounts
are indicated in the "Reference Prices" window
as a percentage of the notional value of the contract.
Minimum Initial Deposit: €
500 to open an account
Margin Call Procedure: When a client has
less than € 50
of equity per open lot, some or all of the clients open
positions will be automatically closed. Clients
are encouraged to avoid margin calls through the use of
stops and/or adequately funded accounts.
Trading Hours and Tick Values: Click here
for trading hours and tick values by product.
Login
Login screen appears when
ICTS System starts:
Enter your UserName, Password,
and press OK. The Trading System will appear:
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"Dealing
Prices" window
Dealer’s Rates window displays
live dealing rates. The following functionality is available
on the Dealer’s Rates window:
Market Order
This allows the trader to
trade "at the market." Click on the rate
(Sell or Buy) field within the order record or right click
anywhere within the order record and then choose Market
order command from pop-up menu. The Amount input screen
will appear:
Enter desired amount measured
in lots and press OK. New order marked with letter ‘I’
(Initiate) will appear on the Trader’s Orders window.
Market orders will always be confirmed and executed immediately
at the best available price.
Entry Order (Entry
Stop or Entry Limit)
This function allows you
to initiate a position with a Stop or Limit order. Right
click anywhere within the order record and then choose
Entry order command from pop-up menu. The Amount input
screen will appear:
Enter desired amount measured
in lots, adjust the price and press OK. New order marked
with letter ‘E’ (Entry) will appear on the Trader’s Orders
window. It will be executed by Dealer at the time when
the market price reaches the Entry order.
Sort records
Click on the column title.
All records will be sorted by that column.
Hedging
Positions
Placing trades from the Dealer's Rates window will never
offset your open positions, but will always open a new
position. Open positions can therefore be "hedged"
by placing trades in the opposite direction of an open
position from the Dealer's Rates window. The only
way an open position can be closed is by right-clicking
on that position in the "Open Positions" window
and selecting "Close Position", or selecting
a "Stop" or "Limit", which will then
close the position if it is filled.
Add/Remove
Products
You can add or remove products (shares, indices, or
currencies) from the Dealing Prices window.
To add a product, find the Share, Index or Currency you
wish to add in the "Reference Prices" window
and Right-click on it. Select "Add into
Dealing Rates" from the pop-up menu.
To remove or rearrange
products from the Dealing Prices window, right click on
the product in the Dealing Prices window, and select from
the pop-up menu. When you have your Dealing Prices
window customized as desired, be sure to select "File",
"Save Settings" before you exit.
Click here
for detailed visual instructions on adding and removing
products from the Dealing Prices window.
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"Trader’s
Orders" window
Trader’s Orders window displays
your own Entry and OCO orders. It also allows Trader to
operate with Initiate, Reject, Close, and Terminate order
records (those operations have been already discussed
above). The following functionality is available on the
Trader’s Orders window:
Place order
Right click within the order record and then select
Place order command from the pop-up menu. Selected order
will be sent to Dealer. This operation is used with
Initiate, Reject, Close, and Terminate order records
Remove order
Right click within the order record and then select
Remove order command from the pop-up menu. Selected
order will be removed.
Change price
Click on the rate field within the Entry order record
or right click anywhere within the record and then choose
Change Price command from pop up menu. The Entry Change
Price input box will appear:
Enter desired price and
press OK. The price on the order will change.
Hedging: As
with the "Dealer's Rates" window, any orders
filled from the "Trader's Orders" window will
not offset open positions.
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"Open Positions"
window
Open Positions window displays
all open positions and allows placing Stop, Trailing Stops,
and Limit orders, as well as closing the position at the
market price. Any executed orders that are entered from
the "Open Positions" window will serve to close
out part or all of that position. The following
functionality is available on the Open Positions window:
Stop
order
This
is a conventional "stop" or "stop loss"
order. From the "Open Positions" window,
right click within the position row and choose "Stop"
from the pop-up menu. The Stop dialog box will appear:
Enter desired
Stop rate in the top field and click "Submit"
(other parameters in this dialogue box are for a "Trailing
Stop" and can be ignored). The Stop order has now
been placed and the Stop price will appear in the "Stop"
column in the "Open Positions" window.
Trailing
Stop order
A
Trailing Stop will remain at a specified distance as
the market moves in your position's favor (following
or "trailing" the market), but will remain
fixed if the market moves against the position, acting
like a one-way ratchet. To place a Trailing Stop,
go to the "Open Positions" window, right click
within the position row and choose "Trailing Stop"
from the pop-up menu. The Stop dialog box will appear
with the "Set Trailing Stop Distance" checked:
Enter the distance in pips/ticks
in the bottom field and click "Submit". The
Trailing Stop order has now been placed and the specified
"Distance" will appear in the "TrailD"
column in the "Open Positions" window, and
the resulting stop price will appear in the "Stop"
column.
Limit
order
From
the "Open Positions" window, right click within
the position row and choose "Limit" from the
pop-up menu. The Limit dialog box will appear:
Enter desired
Limit rate and click "Submit". The Limit rate
will appear in the "Limit" column in the "Open
Positions" window.
Close
position
From
the "Open Positions" window, right click within
the position row and select "Close position"
from the pop-up menu. The Close position confirmation
box will appear:
The "Amount
(Lots)" field will default to the entire position
size. If you wish to close out only part of the
position, change this field to the amount of Lots you
wish to close. Click "OK". The
position will now be closed at the current market.
Change price on Stops
and Limits
Click on the rate (Stop or Limit) field within the
position record or right click anywhere within the position
record and then choose Change Stop or Change Limit command
from pop up menu. The Stop or Limit dialog box will
appear. Enter desired Stop or Limit price and press
OK.
Remove Stops and Limits
Right click anywhere within the position record
and then choose Remove Stop or Remove Limit command
from pop up menu. The Stop or Limit will be removed.
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"Reference
Prices" window
This window displays all
price information including the High and Low of the day
for each currency and Interest Rate differentials ("Prm
Buy" and "Prm Sell").
"Prm Buy" and "Prm
Sell" indicate the amount, in US Dollars per lot,
that will be debited to credit to each open position held
past 5PM New York time.
The following functionality
is available on the "Reference Prices" window:
Sort records
Click on the column title.
All records will be sorted by that column.
Reorder records
Right click within the currency record and then
select Move Up, Move Down, Move Top, or Move Bottom
command from the pop-up menu. Selected record will move
accordingly.
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"Account
Information" window
Account Information window
displays values representing the status of your account(s).
Account information normally refreshes every 30 seconds
or as a result of any Trader's action. The following functionality
is available on the Account Information window.
Refresh information
Right click within the account record and then select
Refresh Account Data command from the pop-up menu. Account
Information will be renewed.
Generate reports
Right click within the account record and then choose
desired report from the pop-up menu: Current, Daily,
Weekly, Monthly or Yearly report page will be generated.
You could print it out for your reference.
Enter Default Amount
Default Amount is used to allow Trader to predefine
the default amount of Lots to be used when opening a
position on the particular account. This is a key feature
primarily used by those who manage several accounts.
Click on DA field within the account record. The Default
Amount dialog box will appear:
Enter desired amount and
press OK.
Enter Group name
Group name is used to allow Trader to group accounts.
Click on Group field within the account record. The
Group dialog box will appear:
Enter desired Group name
and press OK.
Save Group information
Group names and Trading Ratio values for accounts
could be saved for later use.
Right click within the account record and then select
Save Group information command from the pop-up menu.
Group information will be saved.
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"Summary by all accounts" window
The "Summary by all
accounts" window is similar to the "Open Positions"
window, except that all currency positions are summarized.
For example, if you have three separate open buy positions
of one lot each in USDJPY, the "Summary by all accounts"
window will just show one position of 3 lots, with the
average open price in the "AvOpen" column.
If you have three separate open buy positions of one lot
each in USDJPY, and one short position of one lot in USDJPY,
the "Summary by all accounts" window will show
the buy position as one position of 3 lots, and the sell
position as one position of one lot, and the NH ("not
hedged") column will show a "2", indicating
that you have a net buy exposure of two lots.
This window is also useful
when trading multiple accounts. It will summarize
whichever account is selected in the "Account Information
window. In addition, if you right-click on the gray
heading and select "summary by all accounts",
it will summarize the positions of all accounts in your
login as if they were a single account.
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Trading History and Statements
To generate a simple online
report of your most recent round-turn transactions, right-click
on the relevant account in the "Account Information"
window, and select "Trading history report".
To Generate a more comprehensive report, including open
positions, click on the "Reports" Selection
from the "File" menu.
You can then select any time
period and run the report.
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Trading
Multiple Accounts
The Internet Currency Trading
System is designed to facilitate trading and managing
multiple accounts from a single login window. Clients
who have their platform configured for multiple account
trading will see each account in the "Account Information"
window:
Each action will be performed
on the account which is currently highlighted (dealing,
account history, view reports, etc.) just as if the trader
was managing a single account.
Block trades and orders can
also be placed which will automatically be distributed
among the accounts as per the trader's instructions.
Indicate how many lots each account is to receive by clicking
on the cell in the "DA" column ('Default Amount').
In order to save this information, apply a group name
to each row by left-clicking the appropriate row in the
"Group" column. When finished, right-click
on each row and select "Save group information".
So for three sub accounts, you will have to do this three
times.
Multiple accounts can then
be selected by holding down the "Ctrl" key and
clicking on each account (note that clicking and dragging
will not properly select the accounts). Once
the desired accounts are selected, the trader can then
trade from the "Dealer's Rates" window.
The default number of lots for each trade will now be
the sum total of the "DA" entry for each selected
account. When the trade is executed, each account
will have the corresponding number of lots automatically
placed in it.
Note: Block
trading for multiple accounts is currently possible only
in the web-based login, NOT the ICTS-FX login.
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Charts
Java-based charts are accessed
from the "View" menu. Clients can select
the currency and time frame they wish. CFD charts
also provide an array of analysis tools and technical
studies ("indicators").
Printing Charts
Charts can be printed as
follows:
- Generate the desired chart
- Hold down your "Alt"
key and press "Print Screen" (or "PrtSc").
It will appear as if nothing has happened, but the chart
has just been copied to your windows clipboard.
- Launch MS Word, MS Powerpoint
or any another document program. Start with a
blank document.
- Select "Edit"
and then "Paste" from the MS Word menu.
The chart will now appear in the blank document.
- Print the MS Word document.
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Finding
and Sorting Instruments
All tradable instruments
are listed in the "Dealing Prices" window.
The CFD trading system has features to make it easier
to find the instrument you wish to trade.
By left-clicking on the "Market"
column heading, you will sort all instruments alphabetically.
Left-click again, and you will sort them in reverse alphabetical
order
Right-click on the "Market"
column heading, and you can then select "sort"
from the pop-up menu. Choose "default",
and you will revert back to the default arrangement:
Equity indices grouped at the top, then major commodities,
then major U.S. shares, and finally major international
shares grouped at the bottom.
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Account
Statements / Back Office Reports
Your
CFD Account has built in real-time account statements.
This means that the statements are updated online the
second a trade is executed or a deposit or withdrawal
is made.
To
access these reports, login to the trading software using
the User Name and Password that you have been supplied
with. Then select "Reports" from the "File"
menu.
You
can then select any time period and run the report.
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