Freeze Rate is a trading tool that offers a way to temporarily stop the price so you can execute orders at the price you want. How does it work?
Apart from having a good trading strategy, there are many factors that can influence your trade result. This is why most traders use additional trading tools in to help them improve their performance and make better decisions. Being able to use the right tools is a useful skill that every trader needs, regardless of the trading style and level of expertise.
Every tool is designed to serve a specific purpose or reach a certain trading goal. In this post, we're going to introduce you to a brilliant tool offered by easyMarkets that can help traders to execute orders at the desired price. But before going further into the tool, let's meet the broker first.
Introduction to easyMarkets
easyMarkets (formerly easyForex) is a multi-asset brokerage solution that has been around since 2001, making it one of the pioneers in the forex industry with a mission to provide the most innovative trading conditions, tools, and services. The award-winning broker is known to offer services internationally and is currently under the regulation of ASIC and CySEC.
There are over 200 trading instruments offered by easyMarkets, including forex, shares, cryptocurrencies, commodities, metals, and indices. Clients can also choose between multiple trading platforms, including the famous MetaTrader 4 and MetaTrader 5 platforms, TradingView, mobile apps, and a proprietary web-based platform. In addition, the broker provides excellent 24/5 customer support and free access to various learning resources like video tutorials and quizzes.
Aside from being popular, easyMarkets is also an award-winning broker. Through its innovative offerings, the company has won more than 40 awards over the years. The latest ones include Best Cryptocurrency Innovation UAE by Finance Derivative Magazine in 2022 and Best Forex Trading Innovation by FxScouts in 2021.
What is Freeze Rate?
Freeze Rate is one of the unique features offered by easyMarkets. It allows you to "freeze" the price for about three seconds, giving you a buffer time to execute the order at the price that you want. While it may sound so short, these few seconds can actually make a huge difference in online trading, especially when trading in a market as volatile as forex or cryptocurrency. This tool is available on the broker's proprietary platform and can be activated by clicking the "Freeze Rate" button before opening a position.
That being said, the main advantage of Freeze Rate is that it gives you extra time to perform your trade. You can use it at any time, but it is most useful during high volatility periods, such as prior to huge news announcements or big market events like central bank announcements. The more volatile the market is, the more those precious seconds are worth. And for this reason, Freeze Rate is highly suitable for intraday traders or those who tend to perform high-frequency trades within the time of the day.
How to Use Freeze Rate on easyMarkets
1. Log in to your trading account and open the trading platform. Click on the instrument you'd like to trade on the right side of the screen.
2. Click "Freeze Rate" between the BUY and SELL buttons to pause the price.
3. You will get a three-second buffer time to perform your trade, and a bar will display the duration of the freeze.
It should be noted that you are allowed to freeze the rate multiple times, but there might be a small until the price is updated. Always check carefully before you open positions.
Freezing the price can be worth a lot in online trading, even if it's just a few seconds. It is undoubtedly an attractive option for all clients, especially intraday traders and those who trade volatile markets like crypto and forex. It allows you to execute orders at the price you want and help you gain higher returns.
Aside from Freeze Rate, easyMarkets also offers several other innovative features to help traders manage their positions, such as easyTrade and dealCancellation. You can visit the broker's website to check the purpose of each tool. Make sure to pick the tools that match your trading style and are able to help you achieve your trading goals effectively.
easyMarkets was founded back in 2001 when the only way to trade was through a physical trading room. Since then, the broker's purpose was to give market access to anyone that wanted it. They ended up fundamentally changing the online trading industry in several aspects with their "simply honest" basic philosophy and business model.