Discussion in 'Forex Brokers' started by Robertwiz, Apr 27, 2015.
What platform is best for Forex Contingency Orders?
I know only about TradeKing's contingency order tool.
What exactly do you mean under "contingency order"? As far as I know it should have a condition under which an order is executed. A good example is stop or limit order and all brokers should support them.
A Contingency Order is usually an option you find with stock broker's platforms. I have never seen one in FOREX platforms but it would be very useful if FOREX brokers add this feature. it helps a lot with swing trades and other similat strategies and saves you a lot of time behind the screen. Example: IF YHOO is LESS THAN $100 then SELL at $99.90.
you have many possibilities. LESS THAN, MORE THAN, EQUAL TO, LESS OR EQUAL TO, MORE OR EQUAL TO, then SELL/BUY
If anyone knows a forex broker with Contingency Orders feature, i would also be very interested to know.
I haven't seen such platforms, to be honest.
First of all, I didn’t know about contingency orders. I only found out about them here and now. But it does sound great. Why aren’t there any such platforms? I mean, I have my favorite and carefully chosen forex apps, but I didn’t notice such options. Maybe I didn’t look carefully. I think this should be implemented as soon as possible. It would make our life easier and the possibilities can be endless, in my opinion. It’s not easy to trade and I’m all for new developments that can make a difference, such as these contingency orders. If the brokers would agree on this, then they shouldn’t wait for it. Just do it now.
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