The Forex and CFD broker EasyMarkets (regulated by ASIC and CySEC) now offers a new tool called dealCancellation, which allows its clients to carry out risk-free trades. With this resource, the client can cancel his losing transactions up to a maximum of 60 minutes from the moment the position is opened. In other words, with dealCancellation it is possible to cancel a losing trade that was opened in a period of less than one hour and get back any loss incurred.
The dealCancellation tool can be applied under the following conditions:
- When the trader feels insecure about market conditions and considers the result of his trades to be uncertain.
- During major market events, such as the publication of important economic indicators or announcements such as Non-Farm Payrolls, where the market presents excellent opportunities to obtain great benefits but the level of risk is also very high.
- During periods in which the market has higher levels of volatility than normal, in which it is more difficult to predict the behavior of prices, and risks are higher.
- When the trader performs transactions in which he is trading with higher volumes than normal. In these transactions, a trader can apply dealCancellation to limit the risk and avoid large losses in case the market moves against his position and at the same time have the opportunity to obtain higher profits with high volume trades.
– Period of validity of the promotion: This promotion has no deadline as it is an active service of the broker EasyMarkets for all its customers.
More information about the EasyMarkets broker and its online brokerage services is in the following article: EasyMarkets Broker Review
Main features of dealCancellation
–DealCancellation is a feature of the proprietary trading platform of easyMarkets that allows the trader to cancel a trade until the expiration time (a maximum of 60 minutes) and keep the amount invested in the transaction.
-The trader can apply dealCancellation in most trading instruments offered by easyMarkets, including Forex, gold, silver, and oil. Note that this is subject to change. The client simply has to check if the dealCancellation icon appears to see if it is applicable in a given trade.
-When the trader cancels any trade covered by dealCancellation, the risk amount (the loss) is returned to the trading account.
-A transaction covered by dealCancellation can be canceled at any time.
-Cost of dealcancellation: EasyMarkets charges a commission based on recent market volatility.
-All trades where dealCancellation is applicable are covered for a certain period of time shown on the specific screen with transaction information. The default is one hour (60 minutes).
–Dealcancellation cannot be applied in open trades, only in transactions that are about to be opened.
-What happens if a position reaches the stop loss before being canceled by dealCancellation ?: In the event that a trade covered by dealCancellation reaches the stop loss and is closed before its cancellation, the trader still receives the risk amount in the transaction which is added back to the trading account.
How does dealCancellation work?
The procedure to use the dealCancellation tool is as follows:
In the next trade that you are going to perform and that you want to protect, click on the dealCancellation button to apply this function, as shown in the red circle in the following image:
- Verify the trades protected with dealcancellation in the open positions report. The dealcancellation logo is clearly shown in the protected trades:
- Cancel your losing operations within the set time parameter. If the operation reaches the stop loss before the expiration of dealCancellation occurs, the operator still gets back the risk amount in the operation.
You can obtain more information about the dealcancellation tool, open an account with the EasyMarkets broker and protect your trades on the company’s website through the following link: