FXCM Trading Station II

User Guide

Table of Content
About FXCM ..................................................................................................................... 3 Platform Short Guide ........................................................................................................ 4 Introduction ............................................................................................................. 4 Top Menu Bar ........................................................................................................ 5 Distinguishing Features of the FX Trading Station .................................................. 6 Market Orders ............................................................................................... 6 Trailing Stops ................................................................................................ 7 Margin Watcher ............................................................................................. 7 24 Hour Reporting ......................................................................................... 8 Rates ....................................................................................................................... 8 Advanced Dealing Rates Window ................................................................. 8 Simple Dealing Rates Window .................................................................... 10 Trading Functionality ............................................................................................. 12 Open a position at the current market rate .................................................. 12 Other Ways Positions can be opened ......................................................... 13 Placing an Order Away From the Current Market Rate............................... 13 Modify an Entry Order ................................................................................. 14 Canceling an Entry Order ............................................................................ 15 Adding Stops and Limits to Open Positions ................................................ 15 Other Ways to add a Stop or Limit Order to an Open Position ................... 16 Modify/Delete a Stop or Limit Order ............................................................ 17 Adding Stops and Limits to Entry Orders .................................................... 17 Trailing Stops .............................................................................................. 18 Closing positions ......................................................................................... 19 Other Ways You can Close an Open Position ............................................ 19 Account Information .............................................................................................. 20 The Accounts Window ................................................................................ 20 Multiple Accounts Window .......................................................................... 21 The Summary Window .......................................................................................... 21 Margin ................................................................................................................... 22 Rollover ................................................................................................................. 23 Reports .................................................................................................................. 24 Customize Your Trade Station .............................................................................. 24 Show or Hide Windows ............................................................................... 24 Change Window Screen ............................................................................. 24 Language .................................................................................................... 25 Colors, Sounds, and Fonts .......................................................................... 25 News and Charts ................................................................................................... 29 IFR News Plugin ......................................................................................... 29 Marketscope Charts Plugin ......................................................................... 31

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About FXCM
With substantial operations around the world, the FXCM Group has serviced over 78,000 accounts to date and in addition, services over 400 institutional clients from more than 80 countries. In the FX market, the broker you align yourself with is the counterparty to EVERY transaction. According to the financial data posted on the CFTC website*, FXCM is one of the largest Forex Dealer Members making it a safer counterparty with which to conduct trading. FXCM's trading volume is virtually among the highest in industry compared to other Forex Dealer members. In an over-the-counter market where traders must rely on the financial strength, stability and integrity of their dealer in order to fulfill obligations on their forex transactions, size does matter. Size and sophistication dictate a market maker's access to Interbank prices. The sheer volume and order flow has enabled FXCM to build strong execution relationships with 14 of the world's largest banks, who have given the company over $800 million in foreign exchange credit lines. As a result, FXCM receives and is able to pass on the benefits of size to our clients. FXCM maintains tight dealing spreads and quotes aggressively at all times.** FXCM has a proven track record of reliability and success with over 1,500,000 trades executed each month via the FX Trading Station. The FX Trading Station represents an evolution of Foreign Exchange trading. The FX Trading Station combines power and functionality, providing rapid trade execution from streaming two-way prices. In 2004, FXCM was awarded "Best Retail Platform for E-FX" by FX Week. FXCM provides online margin foreign exchange trading services to private clients around the world. Clients have 24-hour online access to the foreign exchange markets through the FXCM Trading Station. The foreign exchange markets trade actively on a continuous basis from Sunday afternoon at Asia Market open through Friday night when the US Market closes for the week (EST) which provides unlimited opportunities to engage in an actively moving market. FXCM clients have the benefits of trading on streaming quotes on fixed spreads under normal market conditions. The fixed spreads can be as narrow as 3 pips on select currency pairs with high liquidity in normal market conditions. FXCM also provides competitive pricing and market access with the highest level of client support. Over 500 professionals support FXCM clients with service in 9 languages, 24 hours a day. **FXCM maintains fixed spreads during normal market conditions. Additionally, FXCM offers a "No Dealing Desk" execution option. Clients may be able to select this option or be placed on it at FXCM's discretion. The "No Dealing Desk" option does not provide fixed spreads, nor are there any guarantees regarding slippage.

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Introduction
The FXCM Trading Station is a world-class online foreign exchange trading station designed to provide clients with comprehensive market information and a high level of execution. FXCM feeds real-time streaming prices into the FXCM Trading Station. These prices update dynamically tick by tick with the slightest market move. They are not simply indications of where the market is trading but actual executable prices where traders can buy or sell the currency pair. In an over-the counter market like foreign exchange, not all participants have equal access to competitive pricing. The larger and more creditworthy an institution is, the better its access to oth er m arket p arti p an ts an d th e m ore com p eti ve i s p ri n g . According to the financial data ci ti t ci posted on the CFTC website*, FXCM is one of the largest non-bank FCMs that specialize in the Spot FX Market.

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Top Menu Bar

Quote The quote button is a feature on the FX Trading Station that has been disabled. All quotes appearing in the dealing rates window on the FX Trading Station are executable at the market price displayed, and thus there is no need to request a quote from the dealer. Stop/Limit C l cki g on th e S top /Li i b u tton at th e top of th e trad i g screen cau ses th e S top O rd er b ox i n m t n to appear. T h i b ox al ow s you to ad d a stop l s l oss or en try ord er to an op en p osi on . T h e S top O rd er b ox ti will default to the currency pair currently highlighted in the Open Positions window. (See S top /Li i on O p en Posi on s secti ). m t ti on Close C l cki g on th e C l i n ose b u tton at th e top of th e trad i g screen cau ses th e C l n ose O rd er b ox to appear. This box allows you to close an open position at the current market price displayed in the Dealing R ates w i d ow . T h e C l n ose O rd er b ox w il d efau l to th e cu rren cy p ai cu rren tl h i h lg h ted i th e l t r y g i n O p en Posi on s w i d ow . (S ee C l ti n ose O p en Posi on s secti ). ti on Entry C l cki g on th e E n try b u tton at th e top of th e trad i g screen cau ses th e E n try O rd er b ox to i n n appear. T h i b ox al ow s you to en ter an ord er to b u y or sel a cu rren cy p ai at a fu tu re p ri s l l r ce. T h e E n try O rd er b ox w i l d efau l to th e cu rren cy p ai cu rren tl h i h lg h ted i th e D ealn g R ates w i d ow . l t r y g i n i n (S ee Pl n g E n try O rd ers se ction). aci Report C l cki g on th e R ep ort b u tton at th e top of th e trad i g screen cau ses th e R ep ort Param eters i n n box to appear. T h e R ep ort Param eters b ox al ow s you to sp eci th e ti e p eri for w h i you w ou l lke to l fy m od ch d i view all account information. In addition to entering specific dates, you are also able to generate a rep ort for al trad e acti ty i th e accou n t b y sel l vi n ecti g S i ce O p en i th e From b ox an d n n n N ow i th e T o b ox. n The report function allows you to view your account status and activity, on a daily, weekly, monthly or yearly basis. This report presents, in a format ideal for printing, key account information, such as records of floating positions and completed trades. Research C l cki g on th e R esearch b u tton at th e top of th e trad i g screen allows you to access the Daily i n n FX website. www.dailyfx.com is designed to cater to both fundamentally and technically oriented traders. In ad d i on to p rop ri ti etary i form ati p rovi ed b y FX C M team of in house analysts, n on d s www.dailyfx.com also provides technical and fundamental research from 8 premier banking institutions, profiles and in-depth information on each currency, proprietary indicators, and detailed technical studies including key technical levels and pivot points. FXCMTR C l cki g on th e FX C M T R b u tton w i l take you to th e FX C M T rad i g R oom . i n l n

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www.fxcmtr.com provides insight and tips on how to approach the market as well as a complete suite of professional trading tools similar to those used by institutional trading desks now available free to all FXCM live account holders. Chat C l cki g on th e C h at b u tton at th e top of th e trad i g screen alow s you i stant, 24-hour access i n n l n to a live FXCM representative. These trained representatives are able to answer any questions regarding the FX Trading Station, account details, technical support, customer support, FX resources or the FX market in general. There is no fee to use this service. Chat is available 24 hours a day, 7 days a week and offers service in multiple languages.

Distinguishing Features of the FX Trading Station

Market Orders
Placing a market order is quick and efficient. Simply click on the price where you would like to buy/sell the currency pair. This will bring up a market order box and once you click on OK the order will be filled. Rapid order execution Immediate trade confirmation Real-Time P/L tracking

Trade confirmations are immediate. In the open positions window you will find all the information you need regarding your open trade including the open price and real-time profit/ loss on the position in both pips and dollar terms.

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Trailing Stops
Stop and limit orders can be placed on open orders by simply clicking on the stop/limit column on the open ticket. These orders can be modified or cancelled at any time. Traders also have the option of setting a trailing stop-loss order that will electronically adjust itself as the market rate moves in the direction of your open position. The trailing stop feature allows traders to lock in profits without having to monitor the market. Precise execution of stop/limit orders Trailing Stops feature

Margin Watcher
All account information is updated on a tick-by-tick basis giving traders a complete view of their account activity. Traders have the ability to select the degree of leverage they wish to use. Margin requirements are fixed for both intra-day trading and for positions held overnight. Based on each trader's margin requirement, the FXCM Trading Station will calculate in real time both the funds needed to maintain current positions (Used Margin) and the funds available for available for taking new positions (Usable margin). If the equity in the account drops below the margin required to maintain the open positions, a margin call will occur and some or all open positions will be closed by the dealing desk at the market price.

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24 Hour Reporting
Clients can generate detailed account statements on demand from the FX Trading Station. The reports can contain up-to-second account information or be customized to reflect activity between any two given dates. These reports are comprehensive and include the details of each specific trade. In order to receive a hard copy record, the client simply clicks on the print function. 24-hour access Detailed information on every trade Select time parameters 3 possible formats: HTML, Microsoft Excel, and Adobe PDF

Rates
Advanced Dealing Rates Window

The FXCM Trading Station contains live executable quotes for 22 currency pairs. Each currency q u ote b ox i th e Advanced Dealing Rates w i d ow sh ow n ab ove con tai s i form ati ab ou t a n n n n on specific currency pair, as defined by the currency pair abbreviations at the top of the box. For example, EUR/USD rep resen ts th e E u ro/U .S . D olar. l

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The first currency in the pair is referred to as the Base Currency The second currency in the pair is the Counter Currency

The price you see for each currency pair is the exchange rate for that pair. The exchange rate refers to the amount of the counter (second) currency that can be exchanged for one unit of the base (first) currency. Example: EUR/USD is 1.2192, then 1.2192 US Dollars can be exchanged for 1 Euro. Buying and Selling Each currency quote box contains both a buy (i.e. offer or ask) and a sell price (i.e. the bid). When trading on the FXCM platform you trade directly with a market maker, cutting out commissions, and paying only the spread. The spread is the difference between the rate where you can sell a currency pair and the rate where you can buy a currency pair. When the rate for a currency pair increases this means that the base currency in the pair is getting stronger (as it now takes more of the counter currency to get one of the base currency) and the counter currency in the pair is getting weaker. When the rate for a currency pair decreases, this means that the base currency in the pair is getting weaker (as it now takes less of the counter currency to get one of the base) and the counter currency in the pair is getting stronger. Traders who expect the rate for a currency pair to increase would buy or enter a long position and traders who expect the rate for a currency pair to decrease would sell or enter a short position. Examples: Buying The EUR/USD is currently trading at 1.2924. I am expecting the Euro to strengthen against the US Dollar causing the rate for EUR/USD to move higher. To express this opinion with a trade I would click the buy rate and enter a long position in EUR/USD. Selling The EUR/USD is currently trading at 1.2924. I am expecting the Euro to weaken against the US Dollar causing the rate for the EUR/USD to move lower. To express this opinion with a trade I would click the sell rate and enter a short position in EUR/USD. High and Low Also displayed in the currency quote box is the high and low prices since 17:00 EDT/EST (New York Time) at the end of the days market session. The high shown is the highest buy price reached since 17:00 EDT/EST (New York Time) and the low is the lowest sell price reached since 17:00 EDT/EST (New York Time).

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Simple Dealing Rates Window

B y ch an g i g th e d eal n g rates w i d ow to si p l m od e, trad ers can vi n i n m e ew ad d i o n al i form ati ti n on such as margin requirement (explained on page ----), rollover amounts (explained on page ---), and the dollar value of a pip (explained on page ----) for each currency pair. T o vi ew th e S i p l D eal n g R ates w i d ow : m e i n C l ck on T rad i g i n C h oose D eal n g R ates i A n oth er T ab w i l op en u p , cl ck on Look an d Feel l i T h en cl ck on S i p l R ates i m e

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Sell This is the SELL (bid) price Meaning the price where you can sell the currency pair (and where FXCM, as the market maker, will buy). This price is dynamic and will fluctuate tick-by-tick with the slightest market move. Buy This is the BUY (ask) price Meaning the price where you can buy the currency pair (and where FXCM, as the market maker, will sell). This price is dynamic and will fluctuate tick-by-tick with the slightest market move. High The high is the highest bid rate since 5:00pm EST of the previous day. Low The low is the lowest the offer rate has touched since 5:00pm EST of the previous day. IntrS and IntrB This stands for Interest Rate Buy and Interest Rate Sell. (Explained on page ----) This is the amount in dollars per lot that you will pay/receive for positions that are rolled over. At 17:00 EST/EDT, all open positions are automatically rolled over to the next settlement date. If you have no open positions at 17:00 EST/EDT, even if you executed transactions during the previous 24 hours, there will be no rollover of positions. U n d er th e IntrB (In terest R ates B u y) col m n , u The amount in U.S. dollars per 1 lot buy position is provided. If there is a minus sign next to the number, the amount will be subtracted. U n d er th e IntrS (In terest R ates S el ) col m n , l u The amount in U.S. dollars per 1 lot sell position is provided. If there is a minus sign next to the number, the amount will be subtracted. (Please be aware that your account must be set to 2% margin or higher in order to earn interest on positions held past 17:00 EST/EDT.) Pip Cost The Pip Cost gives you the pip value for each currency in real time. On the standard account, the approximate pip value is $10 per pip, and on the Mini account, the pip value is approximately $1 per pip. Standard account - $ 10 per PIP Mini account - $ 1 per PIP All of the currency pairs where the USD is not the base currency, i.e., EUR/USD, AUD/USD, GBP/USD, NZD/USD will have a fixed pip value of $10/$1 per pip. All other currency pairs have a fluctuating pip value. MMR The amount reflected in this column indicates the margin required to open a one lot position. You have the ability to select within parameters the degree of leverage you wish to use. Example 100K Account If the margin requirement is set at 1%, then the margin required to open a one lot (100K) position is $1000. If the margin requirement is set at 2%, then the margin required to open a one lot (100K) position is $2000.

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Mini Account If the margin requirement is set at 0.5%, then the margin required to open a one lot (10K) position is $50. If the margin requirement is set at 1%, then the margin required to open a one lot (10K) position is $100. Time Every time an exchange rate changes, a time stamp is placed next to the currency pair. The time is recorded in Eastern Standard Time. A time stamp of 14:00 would mean the last update occurred at 2:00 PM Eastern Standard Time.

Trading Functionality
Open a position at the current market rate:
The simplest way to place an order to be executed at the current market rate is by left clicking on the exchange rate within the dealing rates window for the currency pair you wish to buy or sell.

After left clicking on th e exch an g e rate for th e cu rren cy p ai a m arket ord er b ox w il ap p ear. In r, l the market order box there are 5 parameters which can be set prior to sending the order to the trading desk: Select the account you are dealing for, this is only applicable if you are trading in more than one account. Select a currency pair. This will default to the currency pair that is highlighted in the Dealing Rates Window, or select another currency from the drop down box Select sell or buy Select the amount you are buying or selling, trades are made in increments of 100,000 of th e b ase cu rren cy. 1 0 0 rep resen ts 1 l or ot, 1 0 0 ,0 0 0 u n i of th e b ase cu rren cy. 2 0 0 i 2 ts s lots, or 200,000 and so forth. Under At Market, select the range of rates you are willing to accept. Orders will be executed at the first rate the market reaches that is within the range specified here. Most traders will w an t to l eave th i at 0 u n l s ess th ey fal i to th e p ossi ii of th ei ord er com i g i at an offln b l ty r n n market price. To activate the stop or l m i featu re, clck th e A d van ced b u tton on the box to the left of the i t i w ord S top or Li i m t. For m ore i form ati on stop an d lm i ord ers see p ag e ----n on i t C l ck th e O K b u tton after al th e sel i l ecti s h ave b een m ad e to execu te th e trad e. A fter O K on h as b een sel ected th e trad e w i l ap p ear i th e O p en Posi on s w i d ow , w h i con fi s th e l n ti n ch rm execution of the order. - 12 -

Other Ways Positions can be opened:

Right-cl ck on th e ap p rop ri i ate rate an d sel ect th e Create a Market Order com m an d from th e pop-up menu that appears.

C l ck on th e Buy b u tton at th e top of th e trad i g screen . i n

C l ck on th e Trading h ead i g l i n ocated at th e top of th e screen an d sel ect Dealing Rates an d th en Create a Market Order

Placing an Order Away From the Current Market Rate

In addition to allowing the placement of orders at the current market rate, the FXCM Trading Station also allows orders to be placed at a price above or below the current market rate. These orders are referred to as Entry orders, and are only executed if the market rate reaches the rate specified in the order. There are two types of entry orders on the FXCM platform, which are Stop Entry orders and Limit Entry orders. A Limit Entry order is an order to buy below the current market rate, or an order to sell above the current market rate. A Stop Entry order is an order to buy above the current market rate, or an order to sell below the current market rate.

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Examples: If the current market price in EUR/USD is 1.2683 and a trader wishes to place an order to sell if the market moves to 1.2750, he or she would place a limit entry order. If the current market price in EUR/USD is 1.2683 and a trader wishes to place an order to buy if the market moves to 1.2750, he or she would place a stop entry order. To pl ace an en try ord er l cl ck on th e Entry b u tton at th e top of th e trad i g screen . eft i n

A fter cl cki g th e E n try b u tton , th e C reate an i n E n try O rd er B ox w i l ap p ear. l There are five parameters which can be set prior to sending an entry order to the trading desk. The first four are the same ones that appear in the M arket O rd er B ox as ou tl n ed on p ag e -----. i Account Currency Buy/Sell Amount

The difference is that for an entry order you set a specific level to trigger the execution of the trade. O n ce th e ord er i accep ted , i w i l b e l sted i th e Orders w i d ow of th e p l s t l i n n atform w h ere i w i l t l remain as a waiting order until the market moves to the rate specified in the order, or the order is cancelled. Once the trade is executed, the position w i l d i l sap p ear from th e Orders w i d ow an d n reap p ear as an op en p osi on i th e Open Positions w i d ow . ti n n

Modify an Entry Order

Once an entry order has been placed, the order rate can be modified by right clicking on any part of the order in the orders window an d sel ecti g ch an g e ord er rate n

A fter sel ecti g ch an g e ord er rate as ou tln ed ab ove, th e ch an g e ord er rate b ox w il ap p ear. n i l Here the order ID and new order rate can be specified.

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C l ck on th e OK b u tton after al th e m od i cati s have been made. Once the trade is completed, i l fi on the updated information will be reflected in the Orders window. It is important to note that only the exchange rate can be changed for an existing entry order. If you wish to change the order size or currency specified in an entry order, you must cancel the existing order and enter a new one.

Canceling an Entry Order

T o can cel an exi n g en try ord er, ri h t clck on an y p art of th e ord ers w i d ow an d sel sti g i n ect rem ove ord er.

A fter sel ecti g rem ove ord er as outlined above, n you will be asked to confirm that you wish to delete the selected orders. C l ck Y es to can cel th e trad e or N o to m ake n o i ch an g es to th e ord er. O n ce th e Yes b u tton i s cl cked , th e ord er w i l b e d el i l eted from th e Orders window and officially removed.

Adding Stops and Limits to Open Positions

Stop and Limit Orders are orders which are tied to an open position, or order and set to automatically close a position when the market reaches a specified rate. Normally a stop order is used to automatically close an open position before additional losses are incurred and a limit order is used to automatically lock in trading profits. If a position is opened by buying a currency pair, the stop order will always be placed below the current market price, and a limit order will always be placed above the current market price. If a position is opened by selling, the stop order will always be placed above the current market price and the limit order will always be placed below the current market price.

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It is important to note that if a position is opened by buying, then your position will be closed w h en th e sel rate reach es you r stop or lm i p ri l i t ce. C on versel i a p osi on i op en ed b y y, f ti s selling, then your position will be closed when th e b u y rate reach es you r stop or lm i p ri i t ce. Example: A trader has a buy position in EUR/USD which was opened at 1.2754 and the current market price is 1.2750. The trader wishes to have this position automatically closed at a loss if the sell price reaches 1.2700 or automatically closed for a profit if the sell price reaches 1.2800. To have this occur the trader sets a stop order on their open position at the rate of 1.2700 and a limit order on their open position at the rate of 1.2800. To place a stop or l m i on an op en p osi on l clck u n d er th e stop or lm i col m n i th e i t ti eft i i t u n open position window for the position you wish to add a stop or limit to as shown below:

A fter l cl cki g i th e stop or l m i col m n of th e op en p osi eft i n n i t u tions window the stop/limit order box will appear. On the stop/limit order box there are three parameters which can be set prior to sending an order to the trading desk. Select the specific ticket number (as shown in the open positions window) of the trade where the stop or limit will be placed. Select either a stop or limit order Select the exchange rate at which the stop or limit should be triggered. ** C l ck on th e New b u tton after al th e i l selections have been made to place the stop/limit order. Click the advanced button to place a trailing stop. (Trailing stops are explained on page ----)

**Stop/Limit and Entry orders must be at least 5 pips away from the current market price.

Other Ways to add a Stop or Limit Order to an Open Position

Right-click on the appropriate stop or limit box from the highlighted ticket and select the Stop/Limit com m an d from th e p op -up menu.

C l ck on th e Trading h ead i g l i n ocated on th e top of th e screen an d sel ect Open Positions an d th en Stop/Limit. - 16 -

Click on th e Stop/Limit b u tton at th e top of th e trad i g screen . n

Modify/Delete a Stop or Limit Order

To modify the rate for a specific stop or limit order, simply click on the stop or limit column (as outlined above) which will bring up the stop/order window and allow the rate to be changed. If you wish to delete the order simply click on the d el ete b u tton i th e stop /l m i ord er w i d ow . n i t n

Adding Stops and Limits to Entry Orders

In addition to adding stops or limits to open positions, the FXCM Trading Station also allows you to add a stop or limit to an entry order. Unlike stop and limit orders of open positions, stop and limit orders added to entry orders only become active after the market price reaches the entry order rate and your entry order becomes an open position.

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Example: Let say th e cu rren t m arket p ri i E U R /U S D i 1 .2 8 0 0 . A trad er w an ts to en ter a l g p osi on i s ce n s on ti f the market reaches 1.2850 so he places an Entry Order to Buy EUR/USD at 1.2850 The trader then wishes to place a stop order for this trade at1.2815 and a limit order to take your profit if the market reaches 1.2900To make this happen he places a stop order on his entry order at the rate of 1.2815 and a limit order at 1.2900. If the market does not reach 1.2850 then his stop and limit orders will remain inactive. If the market reaches his entry order price of 1.2850 then his entry order will be executed and move down to the Open Positions Window and the stop order at 1.2815 and limit order at 1.2900 will become active. T o ad d a stop or l m i to an en try ord er l cl ck on th e stop or lm i col m n of th e ord ers i t eft i i t u window and follow the steps outlined on page ----

Trailing Stops
The trailing stop feature allows traders to place a stop loss order which automatically updates to lock in profit as th e m arket m oves i th e trad er favor. n s Trailing stops can be placed by clicking th e ad van ced b u tton i th e C reate n M arket O rd er or S top O rd er w i d ow . n A fter ch ecki g th e T rai i g S top b ox i n ln n the market order or stop order window you will be prompted to enter an am ou n t for th e R ate M i . M ove w h i n ch determines how many pips the market must move in favor of the position before the stop order begins to trail. Example: A trader buys EUR/USD at 1.2100 and places a 50 pip stop at 1.2050. The trad er th en ch ecks th e T rai i g S top ln box to activate a trailing stop and selects 30 as the value for the Rate Min. Move. The market then moves up by 30 pips to 1.2130 at which point the traders stop moves from 1.2050 to 1.2080 where it will stay until the market moves up by another 30 pips.

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Closing positions
To close an open position -cl ck d i i rectl on th e C l y ose p ri of th e ti ce cket you w i to cl sh ose.

T h i w i l b ri g u p th e cl s l n ose p osi on b ox w h i h as two parameters you can set prior to sending ti ch the close order to the trading desk.

Select the ticket that you wish to close. Select the amount you wish to close. If you wish to close only a portion of your position simply scroll down the list and select the amount you wish to close. Select the range of rates you are willing to accep t O rd ers w i l si p l b e execu ted at l m y the first rate the market reaches that is within the range specified.

At any time during the close position process, you can cancel the order by clicking on the Cancel b u tton . C l ck th e Ok b utton after all the selections have been made to close the i p osi on . O n ce th e p osi on i cl ti ti s osed i w il d i t l sap p ear from th e Open Positions w i d ow an d n move into the C l sed P o si o n s window until the close of that days trading at 16:00 London o ti Time.

Other Ways You can Close an Open Position

Right-cl ck on th e C l i ose b ox from th e h i h lg h ted ti g i cket an d sel ect th e C l ose Posi on com m an d ti from the pop-up menu.

C l ck th e C l i ose b u tton at th e top of th e trad i g screen . n

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Left cl ck th e T rad i g op ti at th e very top of th e screen an d sel i n on ect O p en Posi on s an d th en ti C l ose Posi on . ti

Account Information
The Accounts Window
The accounts window of the FXCM Trading Station displays all pertinent account information and includes a real-time margin watching feature.

Included in the accounts window from left to right is: Account Each account has a unique ID. If you have multiple accounts, for example you manages funds on behalf of several individuals, you will have multiple account IDs. The information for each account is maintained on a separate row. Balance This is the value of funds in the account without taking into consideration profits and losses on open positions. Equity T h i i th e fl s s oati g val e of fu n d s i th e accou n t, i cl d i g p ro fits and losses on open positions. n u n n u n If you w ere to cl ose al op en p osi on s, th e accou n t E q u i w ou l b ecom e th e accou n t B al ce, l ti s ty d s an as th i fl s oati g val e w ou l th en b e l n u d ocked i . n Day P/L D ay P/L i cl d es th e p rofi an d l n u t oss for th e d ay trad i g se ssion from 17:00 New York Time. This s n will display only the trading activity, no deposits and withdrawals. This is a great risk management tool to allow you to keep track of your trading session profits without having to run reports. UsdMr (Used Margin) This is the amount of account equity currently committed to maintain open positions. Used Margin

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can b e th ou g h t of as th e trad er d ep osi on th e op en p osi on . T h e accou n t m u st m ai tai A T s t ti n n LEAST this amount for open trades to remain open. For example, in a 1% margin account, if you have $500,000 (5 lots) in open positions, you would have a $5,000 margin requirement. This amount would be reflected in the Used Margin Column. This amount will not change unless more positions are opened or existing positions are closed. UsblMr (Usable Margin) This is the amount of account equity that is not currently being committed to maintain open positions. Usable Margin should be thought of as 2 things: 1. The amount available to open NEW positions and 2. The amount that EXISTING positions can move against you before you receive a margin call and all positions are immediately closed at the next available price. Usable Margin + Used Margin = Equity. Usble Mr% The column titled % Usable Margin in the Accounts window shows the usable margin as a percentage of available equity. This enables you to track your margin in real time MC (Margin Call) In the margin call box, there will be a Y (yes) or N (no). If Y appears, the usable margin reached zero and open positions in the account were closed because there were insufficient funds. Please note: if this occurs, dealers have discretion over which open positions in the account will be closed.

Multiple Accounts Window

Traders with multiple accounts can choose to have all accounts display in the accounts window of the platform:

T rad ers w i i g to p l sh n ace th e sam e trad e on m u l p l acco u n ts can h ol th e ctrl key an d l cl ck ti e d eft i on the accounts they wish to trade which will allow traders to place the same trade on multiple accounts.

The Summary Window

The summary window of the FXCM Trading Station gives traders and overview of the average entry price and profit or loss for each currency pair traded.

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Included in the Summary window from left to right is: Currency The Summary window sorts all open positions by currency pair rather than ticket number. When you have multiple positions open for the same currency pair, the Summary window will automatically compound these individual trades. This allows multiple tickets of the same currency pairs to be grouped together to display information regarding average open price and net P/L. P/L (Sell) The profit/loss (P/L) for each currency pair is tracked in real time in U.S. dollars. For short (Sell) positions, th e P/L S el col m n sh ow s th e profit/loss of the trade in U.S. dollars. A minus l u i fron t of th e P/L an d G ross P/L i d i n n cates th e p osi o n h as l ti ost val e. u P/L (Buy) For long (Buy) positions, th e P/L B u y col m n sh ow s th e p rofi oss of th e trad e i U .S . u t/l n dollars. A minus in front of th e P/L an d G ross P/L i d i n cates th e p osi on h as l ti ost val e. u Because it is not possible to be both long and short the same currency pair at the same time on the FX Trading Station, the profit/loss for each currency pair will always be contained within ei er th e P/L S el col m n or P/L B u y col m n . th l u u Amt S (K) and Amt B (K) This is the cumulative size of all open positions in the currency pair. The A m t S (K ) co l m n displays the number of lots you are currently short for a given u currency pair. The A m t B (K ) co l m n displays the number of lots you are currently long for a given currency u pair. 1 lot in the standard account is 100,000 units of the base currency. 1 l i th e M i i accou n t i 1 0 ,0 0 0 u n i of th e b ase cu rren cy. 1 0 0 i th e A m t K col m n ot n n s ts n u represents 100,000 units of currency (or 1 lot) in the standard 100K account. Because it is not possible to be both long and short the same currency pair at the same time on the FX Trading Station, the cumulative size for each currency pair will always be contained within either the: A m t S (K ) column (for short positions) P/L Buy col m n (for l g p osi on s). u on ti Sell and Buy T h e Sell col m n sh ow s th e cu rren t, real u -time sell price for the currency pair in which you are short. T h e Buy col m n sh ow s th e current, real-time buy price for the currency pair in which u you are long. This is the price at which you could immediately add to a current long position.

Margin
All accounts are set to a default margin requirement of 0.5% on a Mini Account and 1% on a Standard Account. At the 1% margin level, the margin requirement is $1000 per 100,000 traded. Traders do have the option of trading using more or less leverage. The Trading Station will calculate in real time both the margin requirement and the remaining usable margin in your account. You can see them stated in the Accounts window of the Trading

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Station under the columns UsdMr (used margin), and UsblMr (usable margin). If the UsblMr column reaches zero, a Margin Call will be triggered on the account, and all open positions will be liquidated. Example: Account 1234 has a balance of $25,000 and is on 1% margin requiring $1000 for each 100,000 in open positions. Account 1234 buys 300,000 USD/JPY and sells 500,000 EUR/USD. As the account has 800,000 in open positions this trader is required to have at least $8,000 in equity to margin these positions. As this trader has $25,000 in his account the most this trader can loose before triggering a margin call is about $17,000.

Rollover
Conventionally, 17:00 New York Time is considered the end of the international trading day, so when you hold open positions through 17:00 New York Time you have technically held them overnight. As a service to our clients, positions are automatically rolled over every day at 17:00 New York Time to prevent physical settlement. When rolling positions overnight, rollover interest is either added or subtracted from your account. Every currency you buy or sell has a certain overnight interest rate associated with it. The interest amount varies based on the interest rate differential between the two currencies you are buying and selling, and fluctuates day to day with the movement of prices. These rollover rates or swap rates are determined at the Interbank level based on money market rates. For instance, on any given day, the rollover can be $2.64 per lot for GBP/USD and $8.06 per lot for EUR/USD. Rollover fees are shown in dollars and are posted in the "INTR columns" of the Simple Dealing Rates Window every day at 12:00 New York Time. For day traders that never hold a position overnight through 17:00 New York Time, rollover will not affect trading. 17:00 New York Time, funds are automatically subtracted or added to accounts with open positions because of the automatic rollover. For accounts that have a margin requirement of 2% or more, funds are added to the account for positions in which the client is long the currency bearing the higher interest rate. Funds are deducted in the opposite circumstance. For accounts that do not have a 2% margin requirement, the rollover amount is deducted from the account for each position regardless of the account's holdings. Traders who are on 1% and hold overnight positions are doing so using FXCM capital and are therefore charged for this. A 1% margin is intended for day traders that close their position before the end of the day. Note: For positions that are open on Wednesday and held overnight, the amount added or subtracted to an account as a result of rolling over a position tends to be around three times the usual amount. This "3-Day" rollover accounts for settlement of trades through the weekend period. For a complete monthly rollover schedule, visit www.DailyFX.com. A ln k to th e cu rren t m on th i s rollover schedule is located towards the bottom in the Currency Crosses Section.

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Reports
The FXCM Trading Station offers up to the minute account statements. Account Statements can be accessed directly for the platform and run for time frames ranging from the date your account was opened through the current trading day. To generate a report left click the R ep ort button located at the top right of your screen:

A fter cl cki g on R ep ort b u tton , i n A Report Parameters window appears where you can choose the accounts and the time period you wish to view. C l cki g on R u n rep ort w i l i n l execute a Report, as requested.

Customize Your Trade Station

Each window of the FXCM Platform can be customized to meet your personal specifications. There are several different kinds of modifications that can be made.

Show or Hide Windows

To show or hide any of the windows in the platform simply click on the boxes located at the top of th e trad i g screen . T o h i e a screen , you m ay al cl ck on th e X b ox i th e u p per right hand n d so i n corner of the window.

Change Window Screen

To move a window, or adjust the window sizes, Simply click on the outer edge of the window and drag it to the size desired.

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Language
To change the language on the FXCM Trading Station C l ck on S ystem i S crol d ow n to Lan g u ag e l S el ect th e l g u ag e you w i to vi an sh ew th e p l atform i . n Once you have selected the language, you must restart the FXCM Trading Station for the changes to take effect.

Colors, Sounds, and Fonts

To customize the colors, sounds, or fonts on the trading screen , C l ck on System at th e top of th e T rad i g i n S tati an d sel on ect Options. A n Options B ox w i l l appear which will allow you to disable/enable different sounds on the Platform, customize the color settings, and enlarge or reduce the size and style of the labels used in the Platform.

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Sounds
To change the sounds on the FXCM Trading Station: C l ck on S ystem at th e top of th e T rad i g S tati i n on A n d th en cl ck O p ti s O p ti s B ox w i l ap p ear i on on l S crol d ow n to S ou n d s, on th e O p ti s B ox l on A d d you r setti g of ch oi an d cl ck O K n ce i

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Colors
To change the Colors on the FXCM Trading Station C l ck on S ystem at th e top of th e T rad i g S tati i n on cl ck O p ti s i on O p ti s B ox w i appear on ll C l ck on th e featu re you w an t ch an g e i C h oose you r col or C l ck O K i

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Fonts
To change the Font on the FXCM Trading Station: C l ck on S ystem at th e top of th e T rad i g S tati i n on cl ck O p ti s i on O p ti s B ox w i l ap p ear on l C l ck on the feature you wish to change i Pi th e fon t ck C l ck O K i

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News and Charts

Traders wishing to access real-time charts and live streaming news relevant to the FX Market from the FXCM Trading Station can download the Market Scope Chart Plug-in and News Plugin from the FXCM website. Once downloaded, traders will be able to launch real-time charts and gain fresh up-to-the-minute information on fundamentals moving the FX Market directly off the platform.

IFR News Plugin

Free streaming market news, technical levels, and FX commentary via the FXCM trading platform 24-hours a day. IFR Forex Watch, Thomson Financial's premier institutional FX news and analysis service, provides the real time content for this service. FXCM News is not a delayed or ab ri g ed versi of T h om son Fi an ci IFR Forex W atch , b u t th e d on n al s complete product suite, a $300 a month value. FXCM News updates itself with the latest news every time the user logs in providing clients with vital FX news that is both easy to access and to understand. In addition to receiving Squawk Box, you will also receive Technical Levels & Analysis pages, which are particularly useful for determining where the best entry and exit points are and the best conditions for market moves.

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How to open the News feature: 1 . G o to Pl g i s at th e top of th e FX T rad i g S tati . u n n on 2. Under News, place a check next to News Topics and News Squawk Box. This will allow you to view the news headlines and navigate through the topics relevant to each major currency along with other fundamental resources provided by Thomson Financial.

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Marketscope Charts Plugin

In addition to the free Java based packages located on the FXCM website, FXCM has developed Marketscope, a premium real time charting package, which is available for free as an integrated feature on the FX Trading Platform. This proprietary charting package is a direct result of client feedback and combines power and functionality. The Marketscope charts employ data directly from the FXCM dealing desk, and dynamically update tick by tick. In addition to these features, this new chart plug-in gives you the ability to save multiple chart layouts for easy access, and over 40 technical studies. How to Bring Up a Chart: 1. Go to Plug-ins 2. U n d er C h arts, cl ck on create m arket-shots. This will enable you to make the chart that you i want to.

3. Once the market-shots open up, you can fill out the choices to see the currency that you want to. ** K eep th e D ate to u n ch ecked to b ri g u p a n real time chart 4. Click on OK and a chart will appear within the platform.

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Chart Mode The chart charts will initially appear as a line chart. To change chart types, right click on the chart and select the desired chart mode. Detaching Chart If you wish to detach a single chart which has already been produced, simply right click within the ch art an d clck D etach . i

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