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  • dealCancellation from easyMarkets.com

    Guys,

    Today while randomly browsing the internet, my eye got caught by an advertisement. Went to the link and kept reading https://www.easymarkets.com/int/trad...lcancellation/
    Read the FAQ page and everything looked too good to be true. And when everything looks too good to be true, for sure there is a trick around it. Went to the live chat and asked more details and paste here my conversation. Sorry for the formatting...I was in a hurry.

    What do you think? How could this be sustainable for them?
    PS: Yes I'm aware that this is a broker based in Cyprus, most probably a bucketshop one




    Cristian
    at 14:31, Oct 19:



    deal Cancellation


    Cristian
    at 14:31, Oct 19:



    Hi there, I have a question related to above mentioned topic


    Lukasz
    at 14:32, Oct 19:

    please





    Cristian
    at 14:32, Oct 19:



    May I have the dealCancellation enabled on a hedged trade?


    Lukasz
    at 14:33, Oct 19:

    yes





    Lukasz
    at 14:34, Oct 19:

    do you have acount with us?





    Cristian
    at 14:34, Oct 19:



    then i do not understand what's the trick, because during an NFP I could open one BUY and one SELL and I'll cancel the loosing one


    Cristian
    at 14:35, Oct 19:



    in this way anyone makes money


    Lukasz
    at 14:36, Oct 19:

    you can trade like this




    Lukasz
    at 14:36, Oct 19:

    you will pay premium for dealCancellation, just have in mind that premium will be higher and normal day





    Lukasz
    at 14:38, Oct 19:

    than normal day




    Cristian
    at 14:38, Oct 19:



    How much does this premium cost? I'm reading your FAQ page but cannot find any details about it


    Cristian
    at 14:38, Oct 19:



    The only thing I see is: "a fee based on recent market volatility."


    Lukasz
    at 14:39, Oct 19:

    market is volatile, that why price is not fixed





    Cristian
    at 14:40, Oct 19:



    let's take an example so for me would be easier to understand: I have a BUY in profit of 990$ and a SELL with -1000$ profit, both of them with dealCancelation enabled


    Cristian
    at 14:41, Oct 19:



    Both EURUSD trades, normal volatility conditions, spread of 3pip


    Cristian
    at 14:41, Oct 19:



    if i close the loosing one, how much will the premium be?


    Lukasz
    at 14:43, Oct 19:

    depends what size deal you open




    Cristian
    at 14:43, Oct 19:



    1 lot both on each trade


    Cristian
    at 14:43, Oct 19:



    1 lot each trade


    Lukasz
    at 14:45, Oct 19:

    now price for dealCancellation for 1lot is almost 100$ amount to risk 1275USD




    Cristian
    at 14:47, Oct 19:



    ok thanks for all the info. Anyway I smell smth fishy because with this option there won't be any losers in Forex



  • #2
    This will work maybe few times, than the premium will get higer and you will end up at BE unless price goes few hundred pips in your favour, but as you know most of the time price tends to end up where it started before the release with spikes in both directions. But for the longterm this could be good. You have 1h to rethink and close the trade, which is good once you see clarity after the news.

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