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Forex Industry
by Seth Parker on April 16th, 2020

easyMarkets will allow traders to cancel transactions within 6 hours

A CySEC Cypriot broker, easyMarkets, has updated its dealCancellation tool, which allows customers to buy protection from losing trades and return their initial investment if something goes wrong.

To use the tool you need to pay a small commission, the amount of which depends on market volatility. Faced with a losing position, the trader gets the opportunity to abandon the transaction, while losing only the premium paid.

The principle of the dealCancellation tool essentially resembles the purchase of an option for the right to mark for a certain period of time, giving the right to withdraw the transaction at any time during a certain period.

EasyMarkets forex broker claims that its traders used the dealCancellation function for more than 30 thousand transactions. It should be noted that the fee for using the instrument is clearly communicated to the trader before he opens a position, while it does not depend on the size of the profit or loss on the transaction. The commission is determined by market volatility and set in advance, at the time the dealCancellation function is added to the transaction.

The company noted that they have an excellent risk management team with experience in the options market and an understanding of pricing, it controls and aggregates delta, gamma, vega and theta effects and hedges risks accordingly with external liquidity providers.

EasyMarkets also offers a hedging tool called Guaranteed Stop-Loss and Take Profit (guaranteed stop-loss and take-profit). It is available free of charge to all users of the platform.

Nikos Antoniades, who is CEO of easyMarkets declared that the team had been considering extending the dealCancellation for some time. As a result, they managed to create a wonderful tool, unique in our industry, which has now become even more powerful.

He also added to be very proud of the updated version of dealCancellation, and he was more confident to give customers additional benefits.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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