The Deal Ticket
The Deal Ticket, similar to the browser based TradeHub® will allow you to place both trades and orders. There are a number of ways in which you can access the Deal Ticket. The easiest ways are either directly from your Watchlist, the Product Search or from the product information page. To open a deal ticket, simply tap either the Buy or Sell price.
You will be presented with either a Buy or Sell deal ticket dependant on whether you had tapped the Buy or Sell button. The direction of your trade will be highlighted in the quote buttons. Above the deal ticket there will also be a coloured button that will allow you to place the trade; the colour of this button will correspond to the direction of the trade. To change directions, tap the corresponding button on the deal ticket.
You will then be able to enter the size of your trade, stop loss level, take profit level and amend your margin accordingly. Once you are happy with the trade that you would like to place, you can tap the ‘Place Trade’ button found at the bottom of the deal ticket. Alternatively, you will also be able to tap the ‘Place Trade’ button above the deal ticket. Please note that tapping the Place Trade button immediately executes the trade; there will be no further confirmation requested.
When you are placing a trade, you will be required to enter a size. The minimum and maximum stake/trade sizes can be found in the Product Information window. When you have input a Stake/Trade size, you will notice that the figures to the left of the field will have changed. The Trade Value figure refers to the value of the trade in the underlying market. The margin requirement figure will refer to the amount of funds you will need to place the trade.
As a default, accounts operate on a First in First out (FIFO) basis. This will mean that if you had a £2 Buy position open, made up of two individual £1 Buy trades and then subsequently placed a £1 Sell trade, this would net off against the first £1 Buy trade. Your position would be reduced by £1 and only the second trade would be open. By selecting Force Open, this will allow you to open both long and short positions in the same product.
Stop Loss and Take Profit
You will then be able to enter Stop Loss and Take Profit levels for your trade. The minimum distance for the Stop Loss will be displayed to the left of the field. To the right of the stop loss value, you will also notice the small ‘G’ or ‘N’ icon. These refer to the stop being either a guaranteed stop or a non-guaranteed stop. If a product is eligible for a guaranteed stop, please view the Product Information window for the GSMS amount.
Entering a stop loss can reduce the amount of margin required to enter a trade can help limit the liability of an open position from downside risk.
Effective Margin Rate/Leverage
Towards the base of the deal ticket, you will find the Effective Margin Rate/Leverage figure. The effective margin rate is used to determine the margin requirement for opening a trade/order and is the highest value of the Base Margin Rate, the amended margin rate as defined by the user or the overall account margin rate default.
Variable Margin - Amending Margin/Leverage
A unique feature of TradeHub® is that you will be able to amend your margin/leverage. One benefit of this is that you will be able to reduce the amount of overnight funding you pay. The minimum margin requirement for a position can be found in the Product Information window, listed as Base Margin Requirement. You will be able to increase the Margin Rate/Leverage up to 100%/1:1. This will however change your margin requirement accordingly.
To amend your margin/leverage, tap the ‘Amend Margin/Leverage’ button and you will be presented with an addition to the deal ticket. The slider can be moved from the Base Margin Rate up to 100%/1:1.
Place Buy/Sell Trade
Any time after inputting a trade/stake size value, you will be able to place the trade. Once your trade has been placed, you will receive a trade confirmation. The trade confirmation details the Product, Time of Trade, Direction, Size, Execution Price and Effective Margin Rate. From the Confirmation, you can either navigate back to the Deal Ticket or the Positions screen.
Once you have placed your trade, it will be displayed in the ‘Positions’ tab. Your position will also be reflected in the Account Summary; you will now see Open P&L and Margin Used values.
If you would like to place an opening order, please select the ‘Order’ tab on the deal ticket. You will notice that the ticket has now got an additional field; the ‘Entry Price’ field. After inputting a stake/trade size, you will be able to input the entry price of the order. You can also attach a stop loss and take profit to your order. These orders will be attached to your opening order if it triggers.
Similarly to placing a trade, you can also amend the margin/leverage for your order. Your margin requirement will update accordingly.