FXCM orders

[FTSE in mouth]

Hi all

I want to open an FXCM Mini account. After several rather bizarre conversations with the 'live help operators at FXCM I am no closer to ascertaining what orders you can do with the platform.

Perhaps this is based on my interpretation and understanding of orders.

Straight up limit and stop (both buy and sell) I understand.

OCO: you put an order in with 2 scenarios ie the price either breaks up or down through a pre determined level the order goes in either long or short and cancels which ever order is not used.

An if done (contingent?) order is a bit more advanced. If the OCO order goes in long or short you want to be able to put in limit and stop orders in on each scenario so that if your order goes through at 3am you can sleep easy

Do I have the general gist of it and what orders can you perform with FXCM?

TIA

Pete

 

[options]

Pete.

Have a crack with their demo system. I think it does everything the real one does.

You can also put in a fixed trailing stop. (If that makes sense?) In that it will not trail the price by a fixed amount say 20 and as the price drops back and through, it then closes the trade, but it will count down from the amount you set the trail at and then clsoe the trade as the count down zero's out.