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The MF Global FX Trading Station II platform is constantly upgraded with the latest features to enhance your trading experience. For a more detailed description of the key features in the MF Global FX Trading Station II platform, please visit the Help section on the Trading Station. Click on [Help] inside the menu bar at the top left of the trading screen, then select [Contents].

 

Trade from Charts

No longer will a trader have to toggle between stand-alone charting applications and the trading platform. With the Market Scope charting package integrated into the FX Trading Station II platform, a simple right-click anywhere on the chart will open a window to create a Market order or Entry order.

 

Fractional Pip Pricing

Fractional pip pricing reduces bid/ask spreads for many popular currency pairs. Our aim is to provide you with very competitive transaction costs - tight bid/ask spreads on every currency pair.

 

Before this change, the buy price was rounded up to the nearest pip, and the sell price was rounded down. Now, with the additional decimal place, you will see a more accurate, and usually tighter, spread. For instance, in EUR/USD you might see a buy price of 1.45557 instead of 1.4556 and a sell price of 1.45532 instead of 1.4553. In this case, the spread would be 2.5 pips instead of 3.

 

OCO Orders

The “One-Cancels-Other” order type is introduced to take advantage of breakout or pullback market conditions.

For example, before a news event the market may move sideways in a range. Depending on the news it could break to the upside or to the downside. If you are expecting a break in either direction you could place an Entry order to buy above the high or sell below the low of the range. Conversely, if you expect the market to continue to range-trade, you could place an Entry order to sell at the top of the range or buy at the bottom of the range.

Once one “leg” of the OCO order is executed, the other “leg” cancels. Details

• Price Transparency
• Immediate Confirmation*

The prices on the MF Global FX Trading Station II platform are not indications of where the market is trading, but actual prices at which a trader can buy or sell the currency pair under normal market conditions. With two clicks of the mouse, MF Global FX clients can execute a trade at the screen price.

 

Many other forex dealers show two-way prices, but the trader must request a quote to determine the price at which the trade can be executed. The MF Global FX Trading Station II platform is superior, because it takes the mystery out of the price at which the trader can enter or exit a trade.

 

* Order execution and trade confirmation are immediate under normal market conditions.

• Fast Order Entry
• Immediate Confirmation*

The MF Global FX Trading Station II platform provides quick order entry and rapid execution. There are multiple ways to initiate Market orders, including hitting an express “Sell” or "Buy" button at the top of the trading platform, or clicking the BUY/SELL price of a specific currency pair. Under normal market conditions, orders are processed and filled within seconds. All Market orders are complete fills when Order Type is set to “At Best”, and MF Global FX always endeavours to fill the order at the quoted price.

 

Once an order is filled, the price of the fill is displayed in the [Open Positions] window immediately along with the real-time profit/loss on the position in both pip and dollar terms. In addition, Stops and Limits can be placed at the time of the initial trade or directly on the open position. The execution of all Market, Stop Loss, and Limit and Entry orders are on a best-effort basis.

 

All quotes and trades are subject to the terms and conditions of the MF Global FX Client Agreement accessible from this website.

 

* Order execution and trade confirmation are immediate under normal market conditions.

Market Orders

On the MF Global FX Trading Station II platform, traders have a choice on how their Market orders are executed: “At Best” Price or “Market Range”.

 

“At Best” Price

 

 

On the MF Global FX Trading Station II platform, the default order type for Market order is “At Best” Price. The entire order is filled at the best prices available at that time. The order may be filled at multiple prices.

 

When triggered, Stop Loss and Stop Entry Orders default to Market order execution with “At Best” Price. These orders are executed at the best prices available at the time and are completely filled, under normal market conditions.

 

All trades and quotes are subject to the terms and conditions of the Client Agreement accessible from this website.

 

Market Range

 

 

When creating a Market order, the order type can be changed to “Market Range”. The order will be filled only at the price or within price ranges specified by the trader. The number to the right of “Market Range” allows you to set the range (in pips) from the current rate that you will accept a fill. The default setting for “Market Range” is zero. Partial fills may occur and any part of the order that cannot be filled will be cancelled.

 

Q: When I use a "Market Range order", how do I know how much of the order has been filled?

A: You can see the number of lots executed by checking the [Open Positions] window, for new positions or changes to existing positions.

 

Stop Loss and Stop Entry Orders

These are executed at the best prices available at the time and are always completely filled, under normal market conditions. An order may be filled at multiple prices.

 

All trades and quotes are subject to the terms and conditions of the Client Agreement accessible from this website.

 

Limit and Limit Entry Orders

These orders are executed at the prices specified by the trader. If only part of the order can be filled at the price, the remainder of the order will continue to appear in the [Orders] window.

 

Closing a Position

Since hedging is by default enabled On the MF Global FX Trading Station II platform, an open position cannot be closed by executing a Market order or Limit Entry order in the opposite direction to the open position for the same amount, as that will create a hedged position. Click here for details on Hedging.

 

An open position can only be closed by Stop Loss and Limit orders linked to the open position or by clicking on the rate under the [Close] button in the [Open Positions] window. Since the [Close] function is also a Market order, a trader can select between “At Best” Price or “Market Range” to close the open position.

 

For a more detailed description of Order Types, please visit the Help section on the Trading Station. Click on [Help] inside the menu bar at the top left of the trading screen, then select [Contents].

• Real-time Tracking
• Comprehensive Margin Protocol

Trading FX on margin with MF Global FX requires that each trading account have a sufficient cash balance (equity) to cover open positions at all times. An account is established with default minimum margin settings permitted by regulation although MF Global FX may set higher margin requirements based on account size, simultaneous open positions, trading style, market conditions, etc.

 

Initial Margin Requirement and Maintenance Margin Requirement subject to IIROC regulation must be strictly followed in accordance with the MF Global FX Margin Policy and Procedures. The MF Global FX Trading Station II platform calculate both the funds needed to maintain current positions ([Usd Maint Mr] or Used Maintenance Margin) and the funds available for taking new positions ([Usbl Maint Mr] or Usable Maintenance Margin).

 

This information, along with [Equity], [Balance], and [Gross P/L], appear in the [Accounts] window. In the event that equity in the account falls below Maintenance Margin Requirement, a Maintenance Margin Warning is issued. If equity falls below Liquidation Margin Requirement, a Liquidation Margin Call will automatically trigger to close all open positions at prevailing market rates. Details

• 24-hour Access
• Generate Customized Statements
• Detailed Info On Every Trade

Clients can generate detailed “Combined Account Statements” on demand from the MF Global FX Trading Station II platform. The reports contain up-to-the-second account information and can be customized to capture activity between any two given dates. These reports are comprehensive, including the details for each specific trade. In order to receive a hard-copy record, simply run, and then print the report.