Conditional orders are triggered when the market price reaches the price specified in the order. When this happens, the client’s initial order is activated, requesting that the order be filled at the specified price. Under normal market conditions, ForexGen will honor the specified price on conditional orders of up to 100 mini or 10 standard lots. Larger orders as well as orders executed in extremely volatile markets will be executed at the next available quote if the market has passed over the requested price. This is known to occur over the weekend, when Sunday’s opening price is sometimes significantly different from Friday’s closing and during major market moves.
Many Forex dealers widen their spreads prior to a major market move, thus making market entry more difficult. As ForexGen offers fixed spreads, ensuring that you can always expect quality prices, we may limit the placement of new conditional orders to at least 35 pips away from the current market price for approximately 15 minutes before major news announcements. Under normal market conditions you may place conditional orders as close as 5 pips from the market price.
Many Forex dealers widen their spreads prior to a major market move, thus making market entry more difficult. As ForexGen offers fixed spreads, ensuring that you can always expect quality prices, we may limit the placement of new conditional orders to at least 35 pips away from the current market price for approximately 15 minutes before major news announcements. Under normal market conditions you may place conditional orders as close as 5 pips from the market price.
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