Marketsforu Trader Trading Handbook
This Trading Handbook provides information about variable details of the Marketsforu Trader platform. For information about platform features, please refer to the User guide.
RANGE OF MARKETS
Marketsforu Trader provides trading in currency pairs (‘foreign exchange’ or ‘forex’), indices, metals, energies and soft commodities. For more information on markets.
Foreign exchange markets are offered 24 hours a day from 5:00pm Sunday through 5:00pm on Friday (New York time), including most holidays.
Spot gold and silver trading is available 23 hours a day from 6:00pm ET Sunday through 5:00pm ET Friday. Trading is closed from 5:00pm to 6:00pm ET daily; however, you may place new working orders, or edit and cancel existing working orders.
Commodity CFDs and Index CFDs are traded only during the hours when the underlying execution venues are open for trading. Full details of CFD trading hours can be found on the trading platform within the i box.
Marketsforucom's trade desk is open 24 hours from 9:00pm GMT Sunday through 9:00pm GMT Friday. On major holidays, this schedule is subject to change. Holiday hours are usually finalised two weeks prior to the holiday date and details are published on our website.
Marketsforu.com charges no trading commissions – the total cost of trading is represented by the bid/ask spread.
All banking fees, including but not limited to wire transfer charges, are the responsibility of the customer. We do not charge a fee for deposit via wire transfer. Please see the matrix below for a summary of wire transfer withdrawal fees. Please note, trading account balances over the stated threshold are entitled to five free withdrawals per month.
Marketsforu.com charges a data fee of £15 (15 of base currency, 1500 for Yen) per month. This fee is waived for customers who have traded, or held open positions during the previous 90 days. Customers who are not actively using an account can contact us to request that their account is temporarily suspended to avoid this fee.
The minimum margin requirement for most Forex pairs is 0.25% (400:1), this can be changed to 1% (100:1). The minimum margin requirement for energies, metals, soft commodities and indices is usually 1% (100:1) and this can be changed to 2% (50:1) or 0.5% (200:1) via your account setting in the platform. View the full list of margin requirements by product.
Open positions are required to be fully margined at all times. Rochefx.com does not engage in margin calls; you are responsible for monitoring your account and maintaining 100% of required margin at all times to support your open positions. To help limit your trading losses and ensure that your losses never exceed your account balance, our systems monitor your margin in near real-time and will automatically close out your open positions if your account equity falls below the 100% margin requirement.
Margin requirements are subject to change without notice, at the sole discretion of Marketsforu.com
Please note that very large individual positions are subject to additional margin. This will typically apply to positions of $50m or more on currency pairs, indices and major commodities, and positions of $2.5m or more on minor commodities.
Should you have a position that is subject to an additional margin requirement we will contact you to make arrangements to cover it. This increased margin requirement will continue to apply at Gain’s discretion, until the position size decreases and remains materially below the threshold for a sustained period. Partially closing the position will not automatically reduce your margin requirement.
You are responsible for monitoring your account and maintaining 100% of required margin at all times to support your open positions.
To help ensure that you don't lose more money than you have in your account, our systems monitor your margin in near real-time and will automatically close out your open positions if your account equity falls below the margin requirement. The liquidation process is as follows: the net aggregated open position with the greatest unrealized loss is closed first, followed by the next largest losing position and so on, until the maintenance margin requirement is satisfied or exceeded. Depending on the size and unrealized P&L of the open positions, all open positions may be liquidated in order to meet the margin requirement and you risk incurring losses greater than your account balance.
While our 100% margin requirement and margin system is designed to limit your trading losses and help ensure that total losses never exceed your total account balance, you do risk incurring losses greater than your account balance, especially during periods of extreme market volatility. You may sustain a total loss of initial margin and you may be required to deposit additional funds to cover a short margin position. For this reason, we strongly encourage you to manage your use of leverage carefully. For more information, see tips for managing margin.
CLIENT MONEY PROTECTIONS
All retail client money held with Marketsforu.com is held in segregated client money accounts in accordance with regulatory rules. We hold all client money with top tier banks, and have trust letters in place with each of these banks to ensure that our client money remains segregated from the assets of the bank. We use our own funds for hedging client trades, and we never engage in any proprietary trading.
In addition, Marketsforu / Roche Finance UK maintains capital in excess of regulatory requirements, actively reviews and monitors counterparty risk and is governed by a risk committee comprised of Senior Management members.
Financial Services Compensation Scheme
In accordance with regulatory rules, Marketsforu.com clients may be eligible for the Financial Services Compensation Scheme, which offers cover up to £50,000 in the event a firm becomes insolvent or ceases trading.
The Marketsforu.com platforms supports the following execution modes. This section should be read in conjunction with the Trade and Order Execution Policy.
Market Order Mode
Market orders are executed at the best available price at the time the order is received.
Instant Execution Mode
Available on (download and web platforms), Instant Execution is designed for use in combination with the one-click dealing feature. When Instant Execution mode is enabled, market orders will only be executed at the requested rate or within a user-specified deviation. When Instant Execution is enabled, the default setting is 1 pip deviation. As such, if the market moves unfavorably away from the requested price by more than 1 pip, the order is not executed. However, if the market moves in the customer’s favor by any amount then the order will be executed at the improved price.
Tolerance is set by product and can be adjusted to suit individual trading strategies by clicking on Preferences>Trade Settings in Marketsforu Pro.
First In First Out (FIFO)
Open positions are closed according to the (First in First Out) FIFO accounting rule unless other instructions are provided. All trades opened on a particular market (e.g. EUR/USD) will be closed in the order in which they were originally opened.
Marketsforu Pro offers advanced trade features to allow positions to be closed in any order. Within the Position Details option, found by either clicking on the ‘i’ icon, or by right clicking on the open position in this tab, it is possible to close any part of a position with a market order.
When economic data releases or major news events are announced, prices may “gap” as the market reacts and adjusts to the news–i.e. prices may move dramatically in one direction. We always aim to provide liquidity, but in extreme market conditions there may be no available liquidity for a very short period. Gap market conditions are also common when trading resumes after a weekend or holiday. You should be aware of the following risks associated with volatile markets:
Stop and limit orders may be executed at a different price from the requested price, or the last quoted trade price at the time of order entry. Orders may be partially executed or may be executed in several stages at different prices.
Opening prices may differ significantly from the previous day’s close.
Our quoted prices are executable the majority of the time. In fast moving markets, orders may be executed at a price which has ceased to be the best market price. Limit order will always be filled at the price asked or better.
Marketsforu foreign exchange, gold, and silver price quotes are derived from prices provided to us by selected top tier global banks in the wholesale foreign exchange, gold and silver markets.
Other Commodity CFDs
Marketsforu Commodity CFD price quotes are derived from quoted or execution prices from the derivative exchanges for commodities products.
Marketsforu Index CFD price quotes are derived from quoted or execution prices for the underlying reference assets from derivatives exchanges with respect to the given indices which we believe will provide the best available prices to you on a consistent basis.
A market order is an order to buy or sell at the best available market price.
A limit order is an order to buy or sell at a specified price. Limit orders can be used to enter or exit into a position. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher.
A stop order is an order to buy or sell once a pre-defined price is reached. When the price is reached, the stop order becomes a market order.
Stop Entry Order - this is an order placed to buy above the current price, or to sell below the current price. These orders are useful if you believe the market is heading in one direction and you have a target entry price.
Stop Loss Order - this is an order placed to sell below the current price (to close a long position), or to buy above the current price (to close a short position). Stop loss orders are an important risk management tool. By setting stop loss orders against open positions you can limit your potential downside should the market move against you.
Remember that all stop orders do not guarantee your execution price – a stop order is triggered once the stop level is reached, when reached it will be treated as a market order.
One Cancels Other (OCO's)
A contingent order providing that one part of the order is cancelled if the other part is executed. If one part of the order is filled, the other is automatically cancelled.
If / Then
An If/Then order provides that if the first order ("If" order) is executed, the second order ("Then" order) becomes an active unassociated single order. Unassociated orders are not attached to a trade and act independently of any position updates. In cases where the “If” order does not execute, the “Then” single order will remain dormant and will not be executed when the market reaches the specified rate. When either part of an If / Then order is cancelled, all parts of the order are cancelled as well.
If /Then OCO
An If/Then OCO provides that if the first order ("If" order) is executed, the second order ("Then" order) is activated as an unassociated One Cancels Other (OCO) order. Unassociated orders are not attached to a trade and act independently of any position updates. In cases where the “If” order does not execute, the “OCO” will remain dormant and will not be executed when the market reaches the specified rate. When either part of an If / Then OCO order is cancelled, all parts of the order are cancelled as well.
A trailing stop allows a trade to continue to gain in value when the market price moves in a favorable direction, but automatically closes the trade if the market price suddenly moves in an unfavorable direction by a specified distance. When the market price moves in a favorable direction (up for long positions, down for short positions), the trigger price follows the market price by the specified stop distance. If the market price moves in an unfavorable direction, the trigger price stays stationary and the distance between this price and the market price becomes smaller. If the market price continues to move in an unfavorable direction until it reaches the trigger price, an order is triggered to close the trade.
All of the above orders may be entered as Day Orders, entered today and good until end of NY business day (5pm New York time). Or, customers may choose to enter a Good 'til Cancelled Order (GTC), which is valid for 90 days from the date the order is entered or until the order is executed or cancelled.
Orders remain open until they are triggered or cancelled. If a position is closed manually, any order(s) relating to that position must also be cancelled.
Placing contingent orders may not necessarily limit your losses.
End of Day (EOD) orders automatically expire at 5pm New York time on the same day the order was entered. Good ‘til Cancelled (GTC) orders automatically expire on the Saturday following the 90th calendar day from the date the order was entered.
Orders Left Over the Weekend or Holidays
Orders (e.g. Stops, Limits, and contingent orders) left pending over a weekend or holiday period will not be executed until the market in which the order was placed resumes regular trading hours.
All orders placed in the same market on Marketsforu will be aggregated and treated as one combined position, rather than treated as individual orders.
Marketsforu.com automatically rolls forward all open positions following the close of NY trading at 5:00pm New York time. During the roll process, trading is typically suspended for up to 1 minute. The amount paid or earned on the roll depends on the direction of the open position and the interest rate differential between the two currencies involved. For example, assuming UK interest rates are significantly higher than Japan's, a trader long GBP/JPY (i.e. holding British Pounds), is paid interest upon rollover. Conversely, if a trader is short GBP/JPY (i.e. holding yen) interest will be debited upon the rollover.
Rollover credits or debits are applied daily to customer's account reflecting interest paid or earned on each open position held overnight.
Weekend and Holidays
Rollovers for positions held over the weekend will be posted in Wednesday; as a result the rollover applied on Wednesday will amount to three times that of Tuesday.
A holiday rollover will occur when the currency traded has a major holiday and the banks are closed. A holiday rollover will typically be applied two days before the holiday.
Marketsforu.com’s daily rollover rates and detailed reporting of rollover activity is available in the Reports section of the trading platform. Live rollover rates can also be seen on the website
PRODUCTS AND TRADING
Marketsforu.com offers currencies, commodities, CFDs and spot metals for trading.
Orders by telephone will only be accepted by Marketsforu.com UK during market hours. When you place an Order by telephone, you can do so only by talking directly to a broker of Rochefx.com UK. No message may be left, and no orders may be placed using voicemail facilities or by facsimile.
To place a trade over the phone, contact customer service.
Phone Trading Instructions
State your Account Number.
You will be asked to verify the name on the account and answer other security questions
Ask for the current price i.e.
"I would like a price on Euro/Dollar"
Rochefx.com will provide the current bid/offer.
"Euro/Dollar is trading at 1.28551/562" (the first number being the bid, the second the offer)
If you wish to place a market order, state your interest.
"I wish to sell 50,000 of Euro/Dollar at the market"
Marketsforu.com will provide verbal confirmation of the trade. You may also request that a stop or limit order be placed on your behalf. Be sure to indicate the type of order and the price.
All trades executed via the phone are subject to a pre-deal margin availability check and will be manually entered into the customer's account for integrated P&L analysis and reporting.
All phone orders will be recorded.
All of our CFD markets on ROCHETrader & MetaTrader expire. The iBox on the trading platform displays the date and time of the next upcoming expiry for a CFD market, and our product details page explains how expiry dates are calculated.
When a CFD market expires, we will close all open positions based on our last prices and all open orders are cancelled. To retain your open positions in a market, you must manually open a new position in the next contract month.
Payments to Lost, Stolen or Cancelled Cards
Withdrawals are processed in the order funds were received, and returned to the originating account. If you have funded your account with a card that is no longer available you should verify with your bank whether the underlying account associated with your card is still active and available to receive the funds.
In the event an underlying account has been closed, we will need to obtain evidence of this account status change such as an account statement or relative document issued by your bank. Documentation must include the following:
Name of the account holder (must match name on Marketsforu.com account)
Last four digits of account number and or, payment to Marketsforu.com
Language noting the change to the status of your account
Withdrawals and Margins Requirements
A withdrawal of funds will cause a reduction of funds available to be used for margin to maintain open positions. This may lead to the liquidation of any or all of my open positions. It is your responsibility to ensure that the account holds enough margin to maintain open positions. Roche Finance GQ UK Ltd. cannot be held responsible for position liquidations resulting from processing withdrawals.
Compatible Operating Systems
Windows XP SP2 (Home and Professional), Vista or Windows 7 is required for downloading Marketsforu.
System Requirements for Rochefx.com
XP SP2 (Home and Professional), Vista or Windows 7
Processing Speed: 1 GHz or higher
Monitor resolution set at 1024 x 768 or higher
512MB of RAM
Hard Drive: 100 MB of free space
Internet Explorer v6.x or higher, Firefox v1.x or higher
.NET 2.0 Framework
How to Download and Install
Downloading Marketsforu can be completed in three easy steps.
1. Click here to review and accept Software License Agreement.
2. Click the "Install" button.
3. Click "Run"
The application will automatically launch once it's installed. Simply enter your User ID and Password to login.