How to Cancel Losing Trades in easyMarkets

@Justin: Hey, great question! So, DealCancellation is indeed an interesting feature that some trading platforms offer. It gives you the ability to cancel a trade and get your money back within a certain timeframe. But let's dig deeper into whether it's worth using or not.

While DealCancellation isn't free, the cost is transparent and depends on various factors like the security being traded and market conditions. You'll know the exact cost upfront, which helps with managing your expenses.

Now, here's the dilemma: Is it worth it? In terms of scenarios where it could be advantageous, think of volatile markets or news events that can cause sudden price fluctuations. DealCancellation could give you peace of mind during these times of uncertainty.

However, it's crucial to be aware of the limitations. DealCancellation usually has a time limit, so if you miss the window, you're out of luck. Also, it may not cover all types of trades or instruments, so make sure to check the terms and conditions.

In the end, it comes down to your trading style, risk tolerance, and the specific situation. Assess the potential costs and benefits, consider the market conditions, and decide whether DealCancellation aligns with your trading strategy. Remember, it's just one tool among many, and combining different risk management techniques is often the way to go. Happy trading!

Pedro : I agree with you. To use Cancel, I think we can't set DealCancellation at random as it will affect your trade and loss. SO more strategy and analysis is required to use this feature.

I have never used this feature and have never traded with EasyMarket so my opinion maybe right or maybe wrong. DealCancellation, a trade is like a stop loss order, so you cannot place it at random, so I think for the beginners who are really just learning Stop Loss, I think it is not suitable and if you use the function Canceling trades, what I fear is that traders will become more daring to make risky trades and as a trader really need to avoid trading risks. 

Yanto: in my opinon, after seeing the user Interface at the easyMarket's own trading platform is very clear and modern which is can be use easily by the beginner. The trading feature actually is same with many trading platform such as SL, TP, managing account, and aslo has trading tools but sadly it has limited trading tools, Meanwhile the unique features that offered by easyMArket own trading platform are DealCancelation, and the freeze rate

The trading platform in there also have financial calender, Market News, Outlook, Technical Analysis, and Education. You can either trade with webtrader, mobile phone application either android or iOS beside Metatrader 4.

What is the backward of the easyMarket trading platform is cannot be plugins by third party and cannot used with EA Trading.

Park: I can say that EasyMarket is really safe to trade since it has headquarter in Australia, Cyprus and other offshore countries such as Seychelles and British Virgin Islands. The brokers also regulated by those countries that I mention above. And by the way, strict regulator is Australian's ASIC which is can be trustable regulator, and easyMarket regulates from it

What is so special about easyMarket is the broker comploiant with EU's 4th Anti-Money Laundering Dierctive, which is you can read the legal and the law in their website. And the broker also member of Investment COmpensation Fund (CIF) that guarantee you the get maximum €20,000 compensation if you being scammed by easyMarket or if easyMarket bankrupt.

So it is very safe to trade with them. And to know about the trading condition itself, you need to see the full review about easyMarket : EasyMarket Review

@Zakahari: Hey dude! I totally get why you're interested in the DealCancellation feature. It's pretty unique, even though it comes with a cost. But hey, it's a lifesaver if you make a wrong trade, right? So, to maximize its use, here are some key factors to consider when deciding the best time to use DealCancellation in forex trading.

First, check the market volatility. If things are going crazy and prices are swinging like crazy, it's a good idea to protect yourself with DealCancellation.

Next, think about how long you plan to keep your trade open. The longer it's open, the more risks you're exposed to. If it's a long-term trade, DealCancellation can give you some peace of mind.

Of course, your risk management strategy is crucial too. If you have a solid plan in place, utilizing DealCancellation can fit right in.

Oh, and remember that exchange rates can still fluctuate even with DealCancellation. So, keep an eye on that to assess the potential impact on your risk and profitability.

In a nutshell, consider market volatility, trade duration, and your risk management strategy when deciding to use DealCancellation. Stay smart, dude!

Yes, the DealCancellation feature is accessible for all types of trading accounts on EasyMarkets, including both standard and VIP accounts. This indicates that all traders who use the platform can utilize the protection provided by DealCancellation to decrease their risk and confine their potential losses. Nevertheless, there might be some specific terms or limitations that are applicable, such as the maximum amount or duration for the deal cancellation, as discussed in this article. Therefore, it is highly recommended that you study and comprehend the feature by reading this article before using it, in order to understand how it operates and any constraints that may apply.

So, let me break it down for you. First off, when you use the DealCancellation feature, you're gonna have to pay a small fee upfront. And if you end up canceling the deal, you won't get the full amount of your trade back, just a portion of it. So, that's something to think about. Plus, the feature can only be used for a limited time period and on certain instruments, so you might not always be able to use it when you want to.

From my own experience, I've learned that the feature might not be suitable for every trader or strategy. Some traders might prefer using other techniques like stop loss orders instead of the DealCancellation feature. It's really important to think about your own goals and how much risk you can tolerate before deciding if this feature is right for you.

One other thing to keep in mind is that the DealCancellation feature could actually make some traders take on more risk than they would normally, since they feel protected by the ability to cancel a trade. This could lead to over-trading and bigger losses if the feature is used too much or not in the right way.

In my view, it's best to use both the SL method and the deal cancellation feature together. The DealCancellation feature is an excellent feature that's exclusively available for traders using easyMarket, and it provides an additional layer of protection by allowing traders to cancel a trade within a specific time period for a small fee. However, stop loss orders are also useful as they allow traders to exit a trade at a predetermined price level to limit potential losses.

By combining both features, traders can effectively manage their risk while also having the flexibility to cancel a trade if necessary. And remember, this strategy can only be done in easyMarket! 

Yeah, it's totally legal for EasyMarkets to offer the option to cancel trades. It's actually a pretty common feature in the trading world, and it can be a lifesaver if you accidentally hit the wrong button or if the market starts going against you.

Of course, there's usually a fee or commission involved when you cancel a trade, but that's just how it works. It's like insurance, you know? You pay a little bit upfront to protect yourself from bigger losses down the line.

So, don't worry, you're not breaking any laws by using this feature. Just be smart about it and use it when you really need to. And always remember to read the fine print so you know exactly what you're getting into.

When it comes to cancelling trades on EasyMarkets, the process is fairly straightforward. If you want to cancel an open position, you simply need to log into your account, locate the trade you wish to cancel, and click on the "close" button. Depending on the specific trade and market conditions, you may be charged a fee or commission for cancelling the trade. This fee is typically deducted from your account balance, and the remaining funds will be returned to you.

In terms of fees, EasyMarkets does benefit from them, as they are a source of revenue for the company. However, it is important to note that the fees charged for cancelling a trade are generally lower than those charged for opening or closing a trade under normal circumstances. This is because cancelling a trade is seen as a way to limit potential losses and prevent further damage to your account.

As for compensating brokers for cancelled trades, this is not typically the case. Brokers like EasyMarkets earn their revenue through various fees and commissions charged to traders, but they do not typically receive compensation for cancelled trades. Instead, the fees charged for cancelling a trade are used to cover the administrative costs associated with processing the cancellation and potentially compensating the market maker on the other side of the trade.

About Canceling a trade and using a stop loss, these are two different things, and one isn't necessarily fancier than the other.

A stop loss is when you set up an order to automatically close a trade at a certain price, so you don't lose too much if the market goes against you. You usually set this up when you open a trade and it stays put until you close the trade or change the stop loss.

Canceling a trade is when you manually close it before it's supposed to end, usually because you think the market is going against you and you want to limit your losses. You can do this at any time, and it's not tied to a specific price level like a stop loss.

Both methods can help you manage your risk while trading, and it's up to you to decide which one is better for your strategy and situation. Some traders like using stop losses, while others prefer to manually cancel trades. It's your call!