Topic: [ANN] SimpleFX.com - forex broker with BTC and LTC crosses and 1:500 leverage - page 25. (Read 64351 times)

Our Web platform uses order mechanism from MetaTrader4. There are 4 types of Pending Orders:

Buy Limit – The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having fallen to a certain level, will increase;
Buy Stop – The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on increasing;
Sell Limit – The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having increased to a certain level, will fall;
Sell Stop – The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on falling.

And how do they work in practice? When order price is reached, the order becomes market order, so it is sent to the market and being executed (whole order) at the best available price. Open price which you set in pending order does not guarantee that order will be executed at this price.

I added examples and usage to my previews post

?! Then I misunderstood something.
There is a difference between "Limit Order" and "Limit Stop Order".

- A limit order is an order that will rest in an "orderbook" at the given price (I know there is no orderbook at simplefx, but that does not matter). It is active as soon as you made the request. In case of an limit sell order, if the chosen price is lower then the acutal market price, a limit order will act as an market order up to the chosen price and if there is an restamount, this restamount will rest in orderbook.
Example:
EUR/USD is at 1.042. When I place a limit sell order for 1.04 it will sell the whole amount immediately, up to 1.04. If there is still an amount left, the order will rest at 1.04 until someone else buys them at this price.
Usage:
The EUR/USD price is fluctuating between 1.042 and 1.041. The price changes quickly every second. I would like to sell for 1.042, not for 1.041. With the "market order" it is very hard to get the better price. Here I would need the limit order, to make sure I get 1.042.

- A limit stop order works different. It is not active right after the request. It will become an active limit order, as soon as the Stop price is reached. Usually you have the "Stop price" and a "limit price". A limit order is placed at limit price as soon as the stop price is reached.
Example:
EUR/USD is at 1.042. When I place a limit stop sell order for a stop price of 1.04, I don't want to sell now. I want to sell, as soon as the market price goes below 1.04. If I did not specified an additional limit price, it will be a market price sell.
Usage:
I think 1.04 is an important number and in case the price goes below it, it might go down much further. So I only want to sell, if the price goes below 1.04.


You told me now, that your "pending order" is the same like limit order and the same like stop limit order. But since these are two different mechanics, that can't be true?!
Could you please describe how a pending order works, using the description pattern I used above? I would like to be able to place both kind of orders at simplefx.


would be great

If you place Pending Order with direction SELL and open price 1.0390 then it will work exactly as you say.


Unfortunately not, but it will probably be available in the future generation of our platform.

thx.

Do you also have "stop limit" order?
I mean the EUR/USD is now ~1.042
And I would like to initiate now the request to "go short, if the EUR/USD price goes below 1.039".

Edit:
And do you have an overview over all your pairs with the 24h change in %? I mean similar to poloniex:
https://poloniex.com/exchange#btc_eth
You see here on the right a list of all the pairs. And next to them you see the "change" which indicates volatility.
Also you can see the volume of past 24 hours, which is a good indicator of the interest in this pair.

It would be really helpful, if you could add these two things also to simplefx, to have indicators which pair has more interest as usual and which did a big price move.

Hello,

Exactly, please use Pending Order. You just fill the activation price and direction (BUY or SELL). The system will automatically set is as stop or limit order.

Check here for video tutorial: https://youtu.be/JyYUKby5o-U

In case of further question please talk to our LiveSupport on the website.

how to place limit orders? (although liquidity is good, placing market orders is too dangerours... got not the price the engine was showing me when I hit "sell"...)

So e.g I want to go short if price reaches 1.05 EUR/USD.
I tried it with "pending orders" but this seems to be something different? Although my pending order should be filled, it was still in the pending order tab. So it seems it is not the same like "limit order".

Please check required margin for any symbol, it shows minimum amount to open a trade. For example, for 0.01 size EURUSD required margin is 0.003 BTC, but for 0.01 size BTCUSD required margin is 0.1 BTC.
 

Good to see support team is active here responding, i have one question i have tried to deposit 0.01BTC to try out simplefx with metatrader trading software, i successfully connected it with meta but why i couldn't open any position in both simplefx trading and metatrader platform. I get insufficient balance message everytime when i select buy or sell.

What is minimum amount of BTC we should have to start trading?

Hello,
Yes, we are aware that it's been a long time since we mentioned a plan to introduce futures for the first time. Sorry for this, but the plan is still active. For now all instruments are implemented in our systems and they are ready to go. But we still need to compile a rollover mechanism, which is a bit complicated procedure. Also there are some legal regulations issues, but the first quarter of 2017 is very realistic time when the new offer will be ready from A to Z.

Hello, we are testing new algorithm which is now processing about 90% of withdrawal requests automatically.

Very good site ... now to recommend ^^
I've been around with something to earn

Thanks Simplefx 

I w/d a month ago and it took like an hour.

I w/d today and it went instant.

so maybe 

Hi again SimpleFX.. Still no US dollar index on your platform, did you abandon the idea? I think it would be a great addition to your platform...

Did you add instant Bitcoin withdrawals? 

this helpful tips allow newbie to understand how the platform works i'm glad you provided this kind of tutorials aside from here there's also a lots of info that we can watch from youtube so its nice to try and see if how to take advantage of those info before starting to invest inside forex exchange i know its a big venue but i will try to understand it using your website.

CFD is "contract for difference", in this case difference in price levels. Just treat it like a bet, when you believe the price will go up, you BUY, and if you believe the price will go down, you SELL. Simple as that:)

For more details please visit our Website. Please click on "hat" icon on the top panel of the website. There are tutorials and videos about our services.

After finishing the tutorials you can also check https://simplefx.com/support/ --> FAQ section with basic topics about trading.

Please visit also our educational section available at:
https://simplefx.com/resources/SimpleFX_Welcome_Note.pdf
https://simplefx.com/resources/SimpleFX_Tips.pdf

I'm sorry, but I'm also brand new to forex. So what exactly is CFD?
Can you explain how to trade forex, right from sign up to actual trade?
Thanks.

Hello,

1. There is no orderbook, your whole trade is executed on a one, currently best available price.
2. Spread is floating and given in points, the value of the point depends on the size of an order which you opened (for example with 0.01 order size on BTCUSD, 1 point is worth 0.01 USD).
3. You can place limit orders, no problem at all.
4. Unfortunately there is no API for current version of our web platform, it will be available in the future. If you are interested in automated trading, please check MetaTrader4 platform which we also offer.
5. Minimum leverage is 1:2. Beside you cannot sell 1 BTC and withdraw money because you are not trading Bitcoins at SimpleFX, you are trading CFD contracts based on Bitcoin value.
6. Like in point 2, if user paid 100 points spread on 0.01 position on BTCUSD (1 USD according to calculations from point 2), you get 25% so 0.25 USD.

If you have any further questions, do not hesitate to ask.

Best regards,
SimpleFX Customer Service

sooo... I'm very familar on how to trade on bitcoin exchanges.  But I never traded on forex or whatever simplefx is...

1) There is no orderbook? So if your Bid Ask is 700$/BTC to 700.5$/BTC , how to know how much btc I could buy for 700.5$/BTC if I don't see any orderbook?

2) The fee is the spread, which is 0.1.  But 0.1 what? 0.1% ? 0.1USD ?

3) Since there is no orderbook, I can't place limit orders? I'm only able to place market orders?

4) I'm not registered yet, but I'm interested in API trading, but did not found any API documentation yet. Is trading via REST, websocket or FIX API possible?

5) Trading without leverage is possible, right? So I just can deposit 1 BTC, sell it for your actual Bid price and withdraw the money?

6) In the referral program is written, that you get 25% of trading spread of the user.... what the hell does this mean ? I know what a spread is. But from what I know the spread can't be "from a trader", except he is the market maker ?!


To answer most of these questions, it would be the best to compare it to regular bitcoin exchanges, since I know how they work