dealCancellation Now Gives You 6 Hours to Undo Trades!
Well-established CFD broker easyMarkets, upgrades one of its more popular tools
Limassol, Cyprus: easyMarkets is well known for its unique, innovative tools and exceptional client support. Continuing their efforts to give their traders even more choice and an even sharper advantage when trading, easyMarkets has made one of its most powerful tools even better.
The company has now extended dealCancellation’s duration to 1, 3 or 6 hours. If you unfamiliar with the tool, it allows a trader an unprecedent level of control; by undoing losing trades and recovering their funds for a small fee.
This unlocks a completely new way to trade during these volatile times.
According to the to our data analysis team, dealCancellation has been activated on over 30,000 deals to date.
easyMarkets CEO Nikos Antoniades on upgraded dealCancellation:
We have been exploring extending dealCancellation’s duration for some time, working with our technology, trading and client experts. After months of hard work, we managed to take an amazing tool, unique within our industry and make even more powerful. We are very proud of this upgraded version of dealCancellation and we are sure it will offer great value to our clients.
easyMarkets Chief Information Officer Alex St. Louis:
In the face of the current worldwide crisis, we enhanced our remote access infrastructure to ensure that easyMarkets could continue to operate at full capacity, maintaining its excellent standards of client services and daily operations. This combined with our already established development practices and collaboration tools enabled us to deliver major projects such as extending the duration of dealCancellation to 3 and 6 hours, with more to come in the next few months.
Although many companies globally are slowing down activities, we stand by our employees and clients. We continue innovating, working hard to ensure our clients have the best fighting chance in such volatile markets and times.
dealCancellation Use Scenarios
Due to its extended duration dealCancellation can be used multiple ways when trading. Its main function, as mentioned above, is its ability to allow you to undo losing trades.
Open a trade with dealCancellation activated. If you need the hedge, keep the trade open, if you don’t just undo your hedge and recover your funds, minus a small fee.
New traders often feel fear before opening real trades. By activating dealCancellation before opening the trade, they can undo it, if the market moves against them within the chosen period, minus a small fee.
If you have opened your trade in error or opened a “buy” position instead of a “sell” trade, simply undo your trade and recover your funds minus the small dealCancellation fee.
Try a new strategy
Many traders try many different instruments, markets and forms of analysis while trying to develop their strategy. Sometimes depending on the market conditions certain adjustments may be necessary. dealCancellation allows you to do this, without risking the entire amount of your trade, just the small fee associated with the tool.
As with any tool, there are multiple ways to use it, and you may find a use that fits your trading methods or strategy.
How to use dealCancellation
dealCancellation is available on both easyMarkets proprietary platform and its trading app (iOS, Android) when using the Day Trade Ticket. To use and protect yourself with dealCancellation, choose its duration; 1, 3 or 6 hours and click on the shield toggle.
You are now protected for the amount of time you chose.
If the market moves against the position/trade you opened, just click on the rate, in the platform’s “open trades” area (which will be displayed with a strike-through the rate and the button will be red). Once you do, your trade will be reversed, and you will recover your investment minus a small fee for the dealCancellation service.
The longest duration of dealCancellation can almost cover an entire session’s duration (depending on the location and asset you are trading). This can be especially useful when a scheduled macroeconomic event could cause volatility, but the outcome is still uncertain. If the event’s outcome affects your instrument negatively, just undo the trade and recover you funds minus the small fee. If you’re a new trader you can protect yourself by activating dealCancellation, giving you a little extra peace of mind.
The new more powerful dealCancellation tool adds to easyMarkets already extensive list of unique trading tools and conditions. Combine dealCancellation with the innovative Freeze Rate, so you can momentarily pause live rates when opening and closing trades, giving you a few crucial seconds when markets are moving.
Another great tool you have access to as an easyMarkets trader is easyTrade; set your maximum risk amount without putting any cap on your potential upside within a specified time duration of 1, 3 and 6 hours. This trading ticket doesn’t require margin either, meaning that it won’t close if the market moves against your trade, but instead gives it a chance to recover before it expires.
All of easyMarkets accounts feature Free Guaranteed Stop-Loss and Take Profit, allowing traders to manage risk more effectively, at no additional cost on proprietary platforms. Negative balance protection and zero slippage are also standard features on proprietary platforms when trading with any of easyMarkets accounts.
About easyMarkets: easyMarkets is a global, award-winning financial service provider offering CFD and options brokerage. Established in 2001 easyMarkets is licensed and regulated by CySEC for EU based activity and ASIC in the APAC region. It offers its clients access to over 200 markets including cryptocurrencies, individual stocks, indices, agriculture commodities, energies, metals and FX.