The login is quick and easy from the following links:

• &LIVE: Live Login Page
• DEMO: Demo Login Page

1. WYCIWYG Trading Boxes: one box for each currency pair. View real time bid/ask rates. Click on the BUY or SELL to execute a trade.

2. Live Trading Quote: view real time list of current bid/ask, today's high/low, etc.

3. Chart Tool: real time charts on all currency-pairs. Many customizable technical analysis tools are accessible. The chapter 5 contains all basic steps to master the ProRealTime charting tool.

4. Position List (detail): real time summary view of all open positions. Place orders linked to the selected position or close selected position.

5. Position List (summary): real time, summary view of all open positions consolidated by currency-pair. Close selected position.

6. Margin Summary: view real time information about margin, P&L and account balances.

7. Order book & Trade log: view real time information of all open trades, as well as trades that have been closed out during the selected period. Create new, cancel or modify orders.

8. Market News: view containing the latest news published.

This view is composed of a folder containing the latest news published. The second folder contains archives which provide specific searching criteria to retrieve any kind of published news.

Four kinds of statements are available in the Amerex trading console: "Account Statement", "Account Summary", "Transaction Summary", "Today's Activity".

The "Account Statement" returns the balance of the trading account, the list of all open positions and the list of pending orders.

The "Account Summary" displays the all cash movements on the account and details the origin of such movements: type of transaction (forex trade, deposit/withdraw, overnight swap, etc.). In the example of a P&L paid, the report contains the information of the entry and close price, the (historical) exchange rate between the currency of the P&L and the reference currency of the account.

The "Transaction Summary" returns the list of all transactions grouped by transaction-type performed on that trading-account. These order-types include Deposit/Withdraw, Forex trades, Overnight Swap (Rollovers-) operations, etc.

Both reports "Account Summary" and "Transaction Summary" can be generated by selecting a period of activity. By default the current month is selected.

The reports "Today's Activity" is a derivation of both "Transaction Summary" and "Account Summary" but focused on today.

A market order (Spot) is an order to buy or sell at the current market price. Customers using Amerex's online trading platform click on the buy or sell button after having specified their deal size. The execution of the order is instantaneous; this means that the price seen at the exact time of the click will be given to the customer.

The most common way to place a market order (Spot) is to use the WYCIWYG box. The real time bid/ask prices appear in the trading box for each currency-pair. A client has just to click on the current bid or ask offer for executing the trade.

WYCIWYG (What you click is what you get) embodies the concept of total price transparency and permits the retail fx trader to shed the large hidden costs which the great majority of forex dealerships charge their customers in the form of slippage. "What you click is what you get" means that when a customer clicks on a price, that price is "captured" as the execution price and therefore even if the market moves subsequently, the customer still gets the price he chose, always. WYCIWYG execution erases all slippage from trading activities.

WYCIWYG also applies for limit and stop orders. The price you set is the price at which the order will be executed, always. The first step to pass an order is to select an amount from the proposed drop-down list. The combo-box is editable, so that the user can edit its desired amount, which must a multiple of the lot.

The second step is to click one of the prices to sell or buy at the proposed price.
A yellow box indicates that the trade is being routed into the market.

A green box confirms the deal was executed.

A red box indicates that an error occurred.

The view Session Log box contains all detailed information about the activity of the trader. In the case of an order refusal, it indicates the reason for which the trade has not been executed.

Two possibilities are offered to the client to place an entry order.

The client choose the desired type of order in the menu "Forex orders"

A limit order is an order placed to buy or sell at a certain price. The order essentially contains two variables, price and duration. The trader specifies the price at which he wishes to buy/sell a certain currency pair and also specifies the Expiration Type that the order should remain active.

GTC (Good till cancelled): A GTC order remains active in the market until the trader decides to cancel it. The dealer will not cancel the order at any time therefore it is the customer's responsibility to remember that he possesses the order.

GFD (Good for the day): A GFD order remains active in the market until the end of the trading day. Since foreign exchange is an ongoing market the end of day must be a set hour. For Amerex the end of the trading day occurs at exactly 24:00 CET or 23:00 GMT.

Note here that our trading system will only validate limit buy order with a limit price under the actual market price. For sell order, the limit should be above the market price. If these rules are not respected, the Amerex trading system will reject that order and return an error-message to the user, telling him in which direction it makes sense to trade. We have an internal policy which rejects all limit orders which are not placed at minimum distance of 2 times the spread relative to the actual price.

A stop order is an order to buy or sell when a definite price is reached, either above (on a buy) or below (on a sell) the price that prevailed when the order was given. A stop order to buy, always at a higher price than the current market price, is usually designed to protect a profit or limit a loss on a short-sale. A stop order to sell, always at a lower price than the current market price, is usually designed to protect a profit or limit a loss on a position already purchased at a higher price.

From the trader point of view, a buy stop order is placed when the trader believes that if the price moves upwards and reach a certain limit, the price will continue its trends and move further upwards. In the case of a sell stop order, the trader believes that if the price moves downwards and reach a certain limit, the price will continue its trends and move further to moves downwards. The main difference with a limit order is that the trader believes the opposite behavior once the limit price has been reached.

The order contains the same two variables, Amount and Expiration Type. The same variations are used to specify the expiration as in limit orders (GTC and GFD). Let's take the following example:

Example: Trader x buys EURUSD 100'000 @ 0.9340, he's expecting a 60 to 70 pips move in the market but he wants to protect himself in case he has overestimated the potential strength of the Euro. He knows that 0.9310 is a strong support level so he places a stop loss order to sell at that level. Trader x has limited his risk on this particular trade to 30 pips or USD 300.

Another usage of a stop order is when a trader is expecting a price breakout to occur and wishes to grasp the opportunity to 'ride' the breakout. In this case a trade will place an order to buy or sell 'on stop'. To illustrate the logic behind this let's review the following scenario:

Example: Trader x sees EURUSD breaking through the 1.3090 resistance level. He believes that if this happens, the price of EURUSD could be headed to 1.3150 and over. At this point the market is at 1.3050 so trader x places an order to initiate a buying position of 500'000 at 1.3090 'on stop'.

Note here that the Amerex trading system will only validate stop buy order with a limit price above the actual market price. For sell order, the stop limit price should be under the market price. When these rules are not respected, the Amerex trading system will reject that order and return an error-message to the user, telling him in which direction it makes sense to trade. We have an internal policy which rejects all orders which are not placed at minimum distance of 2 times the spread relative to the actual price.

Placing trailing stop orders is similar to a normal stop order with the difference that additional order parameters is prompted to specify Trailing Points, which is the number of pips from the current rate at which you want the stop loss order to be executed. The advantage of a trailing stop is that the order automatically "trails" the rate if the position moves in your favor, offering the potential for greater gains while still guarding against price declines.

In this example, the live rate is 1.2951 and the Trailing Points are set to 40. The sell stop order will be filled if EURUSD bid reaches 1.2911 (live rate - 40 pips). If EURUSD moves in your favor, e.g. to 1.2995, the stop order will automatically adjust to 1.2955 - always 40 pips from the live rate.

Technically speaking, the only difference with a normal stop order, is that the stop price changes as the rates moves in your favor.

At this level, we will present the use of related trade orders to link orders together to create more complex trading strategies. OCO (order cancels others) and IF DONE orders (also known as slave orders) are typically used in that context.

An OCO order is a mixture of one limit- and one stop orders. 2 orders with price and duration variable are placed above and below the current price. When one of the orders is executed the other order is cancelled. To illustrate how an OCO order works let's take the following example: The price of USDJPY is 114.41. Trader x wants to either sell 100'000 at 114.30 below the resistance level in anticipation of a breakout or initiate a selling position if the price reach 114.51.

We have an internal policy which rejects all limit/stop orders which are not placed at minimum distance of 2 times the spread relative to the actual price.

Two-legged order whereby the second single order is placed only upon execution of the first single order.

the equivalent dollarised value. Example 200 ounces of gold is worth about 133'000 USD (31/07/07 rates).

Overnight costs are credited & debited on any positions held after 24:00 CET every day of the week.

Those fees for credit and debit can be found at the following URL, which is daily updated accordingly to market situations:

http://www.AmerexFx.com/resources/over_night.htm