The ICTS Trading System
The Internet Currency
Trading System (ICTS) is a dealing and account management
system allowing individuals and institutions to efficiently
and securely trade Forex online. A minimum
deposit of € 2,000
is required to open a Live account.
Trading Specifications and
Hours
Margin Requirement:
€
500 per lot
Overnight Interest: Generally €
0 to €
12 per day per
lot charged on positions held past 5PM EST. These
amounts are indicated in the "Currency Reference
Rates" window as dollars per lot.
Minimum Initial Deposit: €
2,000 to open
an account
Margin Call Procedure: When a client has
less than €
500 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: Please see
table below:
| Product |
|
Approximate
Value of 1 Lot |
|
Approximate
Tick Value per Lot |
|
Trading Hours
(EST / New York time)
|
| EUR/USD |
|
EUR
130,000 |
|
0.0001
= € 10.00 |
|
24
hours |
| USD/JPY |
|
EUR
100,000 |
|
0.01
= €
8.00 |
|
24
hours |
| GBP/USD |
|
GBP
130,000 |
|
0.0001
= €
10.00 |
|
24
hours |
| USD/CHF |
|
EUR
100,000 |
|
0.0001
= €
7.00 |
|
24
hours |
| USD/CAD |
|
EUR
100,000 |
|
0.0001
= €
6.00 |
|
24
hours |
| AUD/USD |
|
EUR
100,000 |
|
0.0001
= €
10.00 |
|
24
hours |
| NZD/USD |
|
NZD
118,000 |
|
0.0001
= €
10.00 |
|
24
hours |
| EUR/JPY |
|
EUR
118,000 |
|
0.01
= €
8.00 |
|
24
hours |
| EUR/GBP |
|
EUR
118,000 |
|
0.01
= €
16.00 |
|
24
hours |
| EUR/CHF |
|
EUR
118,000 |
|
0.01
= €
7.00 |
|
24
hours |
| GBP/JPY |
|
GBP
118,000 |
|
0.01
= €
8.00 |
|
24
hours |
| GBP/CHF |
|
GBP
118,000 |
|
0.01
= €
7.00 |
|
24
hours |
| CHF/JPY |
|
CHF
118,000 |
|
0.01
= €
8.00 |
|
24
hours |
| AUD/JPY |
|
AUD
118,000 |
|
0.01
= €
8.00 |
|
24
hours |
| USD/SEK |
|
EUR
100,000 |
|
0.01
= €
14.00 |
|
24
hours |
| EUR/SEK |
|
EUR
118,000 |
|
0.01
= €
14.00 |
|
24
hours |
| S&P
500 |
|
EUR
45,000 |
|
.10
= €
5.00 |
|
24
hours |
| Nasdaq
100 |
|
EUR
20,000 |
|
.10
= €
2.00 |
|
24
hours |
| Dow
Jones Industrials |
|
EUR
40,000 |
|
1
= €
5.00 |
|
24
hours
(closed 5:00PM - 8:15PM) |
| Nikkei
225 |
|
EUR
45,000 |
|
1
= €
5.00 |
|
7:55PM
- 10:15PM
11:15PM - 2:25AM
3:30AM - 7:00AM |
|
|
|
|
| DAX
30 |
|
EUR
85,000 |
|
1
= €
25.00 |
|
3:00AM
- 2:00PM |
| Gold |
|
EUR
175,000 |
|
.01
= €
5.00 |
|
24
hours |
| Silver |
|
EUR
46,000 |
|
.01
= €
100.00 |
|
24
hours |
|
|
|
|
|
|
|
Login
Login screen appears when
ICTS System starts:
Enter your UserName, Password,
and press OK. The ICTS trading window will appear:
(top
of page)
"Dealing
Rates" 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.
Dealer now is able to confirm operation or to reject
it due to market movement.
- If Dealer confirms the
order, the ‘I’ record will disappear and the new position
record will be added to the Open Positions window.
The account information will be updated.
- If Dealer rejects the
order because of market movement, new order marked
with letter ‘R’ (Reject) will appear on the Trader’s
Orders window instead of the ’I’ order. This order
will show the new market price. Trader is now able
to accept the Dealer's market price by right clicking
within the order record and selecting Place order
command from the pop-up menu. Trader may choose not
or to to accept the Dealer's market price by right
clicking within the order record and selecting Remove
order command from the pop-up menu.
Entry Stop and Entry
Limit Orders
Right click anywhere within
the order record and select either "Entry Stop"
or "Entry Limit" from the pop up menu, as
illustrated below:
An "Entry Stop"
will place an order to Buy above the current market,
or Sell below the current market, at the rate you specify.
This order will be filled if and only if your specified
price is reached.
An "Entry Limit"
will place an order to Buy below the current market
or Sell above the current market, at the rate you specify.
Again, this order will be filled only if your specified
price is reached.
After selecting "Entry
Stop" or "Entry Limit", you can then
specify your price and number of lots, and then press
"OK". A New order marked with letter
‘EL’ or 'ES' ('Entry Stop' or 'Entry Limit') will appear
on the Trader’s Orders window, and remain there until
it is either filled by the dealer, or cancelled by you.
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.
Trader
Range
This number indicates the difference in pips that you
are willing to accept between the price you click on
and the price at which the trade is executed. This
field does not appear on the Java or web-based login,
but will appear when trading on the ICTS windows-based
system. You can leave it blank to keep the default
amount at "0".
(top
of page)
"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.
(top
of page)
"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.
(top
of page)
"Currency
Reference Rates" window
Currency window displays
all currency rates 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 from or credited to each open position
held past 5PM New York time (for €
2,000 margin/per
lot accounts). Accounts set up on €
1,000 margin
per lot will always pay the amount, regardless of position
direction.
The following functionality
is available on the Currency 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.
(top
of page)
"Account
Information" window
Account Information window
displays values representing the status of your account(s).
Account information normally refreshes every 10 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.
(top
of page)
"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.
(top
of page)
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.
(top
of page)
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.
(top
of page)
Charts
Java-based charts are accessed
from the "View" menu. Clients can select
the currency and time frame they wish. Forex charts
also provide an array of analysis tools and technical
studies ("indicators").
Printing Charts
Forex 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.
(top
of page)
| Symbol |
|
Currency Pair |
|
Trading Terminology |
| EUR/USD |
|
Euro / US Dollar |
|
"Euro" |
| USD/JPY |
|
US Dollar / Japanese Yen |
|
"Dollar Yen" |
| USD/CHF |
|
US Dollar / Swiss Franc |
|
"Dollar Swiss", or "Swissy" |
| GBP/USD |
|
British Pound / US Dollar |
|
"Cable" |
| USD/CAD |
|
US Dollar / Canadian Dollar |
|
"Dollar Canada" |
| AUD/USD |
|
Australian Dollar / US Dollar |
|
"Aussie Dollar" |
| EUR/GBP |
|
Euro / British Pound |
|
"Euro Sterling" |
| EUR/JPY |
|
Euro / Japanese Yen |
|
"Euro Yen" |
| EUR/CHF |
|
Euro / Swiss Franc |
|
"Euro Swiss" |
| GBP/CHF |
|
British Pound / Swiss Franc |
|
"Sterling Swiss" |
| GBP/JPY |
|
British Pound / Japanese Yen |
|
"Sterling Yen" |
| CHF/JPY |
|
Swiss Franc / Japanese Yen |
|
"Swiss Yen" |
| NZD/ZD |
|
New Zealand Dollar / US Dollar |
|
"New Zealand Dollar"
or "Kiwi" |
| USD/ZAR |
|
US Dollar / South African Rand |
|
"Dollar Zar" or "South
African Rand" |
| GLD/USD |
|
Spot Gold |
|
"Gold" |
| SLV/USD |
|
Spot Silver |
|
"Silver" |
| SP500/USD |
|
S&P 500 Index (CFD) |
|
"S & P 500" |
NASDAQ
100/USD |
|
Nasdaq 100 Index (CFD) |
|
"Nasdaq" |
| DOW/USD |
|
Dow Jones Industrial Average
Index (CFD) |
|
"Dow" |
| NIKKEI225/USD |
|
Nikkei 225 Index (CFD) |
|
"Nikkei" |
| DAX30/USD |
|
Dax 30 Index (CFD) |
|
"Dax" |
CRUDE OIL
(LIGHT) |
|
Crude Oil (CFD) |
|
"Crude" or "Crude
Oil" |
Either the "Currency
Pair" or "Trading Terminology" can be used
for telephone trading.
(top
of page)
