Mt5 order execution
Specifications
Order Types
Traders may send instructions for instant orders on the MT5 Floating spread account Instant Execution and the MT5 Fixed spread account Instant Execution or market orders on the MT5 Floating spread Market Execution.
Instant Order(s)
Instant Order: This is an order to either buy or sell at the ‘ask’ or ‘bid’ price respectively as it appears in the quotes flow at the time the client presents the order for execution.
Market Order(s)
Market Order: This is an order to buy or sell at the current market price that is available. The system automatically aggregates the volume received from third party liquidity providers and executes the ‘market order’ at VWAP (‘Volume-Weighted Average Price’) which is the average and best available price at the time of execution
Pending Order(s)
Stop Orders: This is an order to buy or sell once the market reaches the ‘stop price’. Once the market reaches the ‘stop price’ the ‘stop order’ is triggered and treated as a ‘market order’. If the ‘stop order’ is not triggered it shall remain in the system until a later date subject to the conditions described in the ‘Good till Cancel’ section. In Contracts for Difference (‘CFDs’) on FX, Spot Metals and Futures ‘stop orders’ should be placed a minimum number of pips away from the current market price. For more information on the terms of trading on the MT5 platform (spreads, swaps, etc.), please see the individual page of each asset: Forex, Indices, Share, futures, Commodities, crypto
Stop Loss: This is an order to minimize losses. Once the market reaches the ‘stop loss price’ the order is triggered and treated as a ‘market order’. If the ‘stop loss’ is not triggered it shall remain in the system until a later date. In CFDs on FX,Spot Metals and Futures ‘stop loss’ should be placed a minimum number of pips away from the current market price. For more information on the terms of trading on the MT5 platform (spreads, swaps, etc.), please see the individual page of each asset: Forex, Indices, Share, futures, Commodities, crypto
Limit Orders: This is an order to buy or sell once the market reaches the ‘limit price’. Once the market reaches the ‘limit price’ the ‘limit order’ is triggered and executed at the ‘limit price’ or better. If the ‘limit order’ is not triggered it shall remain in the system until a later date, subject to the conditions described in the ‘Good till Cancel’ section. In CFDs on FX, Spot Metals and Futures ‘limit orders’ should be placed a minimum number of pips away from the current market price. For more information on the terms of trading on the MT5 platform (spreads, swaps, etc.), please see the individual page of each asset: Forex, Indices, Share, futures, Commodities, crypto
Take Profit: This is an order to secure profits. Once the market reaches the ‘take profit price’ the order is triggered and treated as a ‘limit order’. If the ‘take profit’ is not triggered it shall remain in the system until a later date. In CFDs on FX, Spot Metals and Futures ‘take profit’ should be placed a minimum number of pips away from the current market price. For more information on the terms of trading on the MT5 platform (spreads, swaps, etc.), please see the individual page of each asset: Forex, Indices, Share, futures, Commodities, crypto
Good till Cancel (‘GTC’) (= Expiry): This is a time setting that the client may apply to ‘pending orders’. The client may choose a specific date in the future until which the order may remain ‘live’ and pending execution. If the order is not triggered during this timeframe it shall be deleted from the system.
Pending Order Modification / Cancellation: The client may modify/ cancel a ‘pending order’ if the market did not reach the price specified by the client.
Re-quoting: This is the practice of providing a secondary quote to the client after an order has been submitted. The client must agree to this quote before the order is executed. Shenzhou Capital will re-quote if the requested price originally specified by the client is not available. The secondary quote provided to the client is the next available price received by Shenzhou Capital from its third party Shenzhou providers. Shenzhou Capital does not re-quote ‘pending orders’
Slippage: At the time an order is presented for execution, the specific price requested by the client may not be available. In this case, the order will be executed close to or a number of pips away from the client’s requested price. If the execution price is better than the price requested by the client this is referred to as ‘positive slippage’. In contrast, if the execution price is worse than the price requested by the client this is referred to as ‘negative slippage’. Please be advised that ‘slippage’ is a normal market practice and a regular feature of the foreign exchange markets under conditions such as illiquidity and volatility due to news announcements. Shenzhou Capital automated execution software does not operate based on any individual parameters related to the execution of orders through any specific client accounts.
Instant / Market Order (s)
| INSTANT / MARKET ORDER(S) | MetaTrader 5 | |
|---|---|---|
|
Execution |
Instant Order |
Market Order |
|
Re-quoting |
|
|
|
Slippage |
N/A |
|
|
Partial fills |
|
|
|
Level restrictions on 'stop & limit' orders |
N/A |
N/A |
|
Commission |
N/A |
N/A |
|
Mark-up |
|
|
Pending Order(s)
| PENDING ORDER(S) | MetaTrader 5 | |
|---|---|---|
|
Execution |
Instant Order |
Market Order |
|
Re-quoting |
|
|
|
Slippage |
N/A |
|
|
Partial fills |
|
|
|
Level restrictions on 'stop & limit' orders |
N/A |
N/A |
|
Commission |
N/A |
N/A |
|
Mark-up |
|
|
Bid prices on charts
Charts in the terminal show only the bid prices whereas the ask price is not shown in the chart in any way. However, for the opening of long positions and closing of short ones, ask price is always used. You can make the ask line visible by enabling the ‘Show ask line’ parameter in which case an additional horizontal line corresponding to the current ask price of the last bar will appear in the chart.
Trailing stops
Stop Loss is intended for the reduction of losses where the symbol price moves in an unprofitable direction. If the position becomes profitable, Stop Loss can be manually shifted to a break-even level. To automate this process, Trailing Stop was created. This tool is especially useful when prices change strongly in the same direction or when it is impossible to watch the market continuously for whatever reason. Bear in mind that Trailing Stops operate in the client terminal and not in the server (as with Stop Loss or Take Profit) and will therefore not work if the terminal is off.
EAs and HFT (high frequency trading)
Shenzhou Capital MetaTrader 5 is fully compatible with Expert Advisors and automated trading systems as allowed by the prevailing market conditions and liquidity. Bear in mind that EAs and HFT operate in the client terminal and not in the server (as with Stop Loss or Take Profit). They will therefore not work if the terminal is off.
Margin level required to open lock or hedge positions
A lock or hedge position appears when a client opens a trade for the same volume in the contrary direction of one already open. This is not the same as closing the initial trade, since the lock position requires that both remain open.When you open a lock position (the contrary position) you will not be asked for additional margin as long as your Margin Level is higher than 100% on your Trading Account.
The Margin Level ratio expresses the relation between the Equity and the Used Margin (Margin Level = [Equity / Used Margin] * 100). Please note that as long as you have a positive Free Margin (Margin Level > 100%) you will be able to open lock positions without additional margin. If you do not have a positive Free Margin you will not be able to open any new positions, including lock positions. You can check your Equity, Used Margin, Free Margin and Margin Level on the status line of your Trading Account.
Spread variation
Please note that when a trade is kept open overnight there is a swap/rollover cost/income calculated on that position. The cost/income is calculated as the overnight interest rate differential between the two currencies plus the commission charged by the company on the position held, depending on the type of the position (long/short).
It is important to remember that you can gain or lose on swap and, as such, you have either positive rollover or negative rollover. There is a possibility that some instruments may have negative rollover values on both sides.The ’swap’ is charged automatically on the account of the client and is converted into the currency that the account is denominated in. The ‘swap’ is charged at 21:59 UK time. From Friday to Saturday swap is charged at triple rate.
Swap/Rollover
Shenzhou Capital MetaTrader 5 is fully compatible with Expert Advisors and automated trading systems as allowed by the prevailing market conditions and Shenzhou. Bear in mind that EAs and HFT operate in the client terminal and not in the server (as with Stop Loss or Take Profit). They will therefore not work if the terminal is off.
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