tradefort
I exchange with profiforex and the maximum simultaneously open order is 300, but according to their customer arrangement, this amount can be raised upon the client's request.
I was looking for the same item and stumbled upon this thread.
So to increase the list of brokers who do not have limitations for open pending orders: Forex4you and ThinkForex.
That seems intriguing, Alex If you don't mind me asking, what's the reason for putting so many orders at once? Is your goal for the majority of these orders to get implemented, or do you wind up canceling the majority of them?Originally Posted by ;
Hi Jason,
I'm glad an FXCM representative asked this!
I don't know why others might be interested in this, but for me personally it had been due to a egy I invented (but unfortunately can't discuss!) That necessitates multiple orders to be placed and some of them are kept open for a period of as much as two months.
In my situation I am interested only in actual (market) orders, not pending orders, so emphasise those orders are implemented.
The capability to have lots of orders simultaneously was vital to my egy, and has been the reason I left AvaTrade, since their maximum had been 500 orders. Now whether that maximum would be struck would rely on market conditions, but I couldn't risk it.
By the way AvaTrade might not be the best broker when it comes to spreads, but what I liked about them was the variety of those instruments on offer, like commodities, indices, stocks, etc.. A huge selection compared to popular brokers. You could really diversify risk like that. I'm currently with ThinkForex, who also have some indices and commodities, but sadly (with the exclusion of XAUUSD and XAGUSD) the minimal lot is 1 (standard) lot, which penalizes the small trader. Additionally their leverage on those instruments (again with the exception of XAUUSD and XAGUSD) is 1/100, whereas in the AvaTrade it had been 1/400. Basically I used to exchange SP500 Crude Oil, etc as cheaply as though they were forex pairs. I'll miss trading these instruments! They generally trend a lot more than forex pairs, and so are actually easier to exchange than forex, so it is a shame that many brokers make them prohibitive to the small trader in the ways I described (i.e. small leverage and no micro- and mini-lots).
It is strange nonetheless that a thing like this should even have to be mentioned: are many brokers' servers so slow as to create 200- or 500-order limits necessary? Or is there another reason beyond server speed?
Hello Alex,Originally Posted by ;
I can not talk for different brokers, but for FXCM, the order limit of 200 is merely a security precaution to get the account similar to the minimum margin requirement. Otherwise, a trader may theoretically open positions and be exposed to unlimited risk. That said, if you're intent is to execute those orders, and you have sufficient margin to implement this egy, then together with the trading volume you generate our Active Trader department may have a solution for you. In addition, FXCM lately introduced micro lot trading on CFDs for the SP 500, Natural Gas and Crude Oil: https://www.forexsoutheast.asia/gene...w-account.html
punishes me a PM, if you want to discuss details on a possible Active Trader alternative.
How many transactions do you wish to open? It has to be a number. And really I don't understand the maximum quantity of oepn transactions that my broker allows. I need to inspect it also. However, I think it's about countless...
Come on, Jason. You're FXCM representative (am I right)?Originally Posted by ;
I don't believe your response is reasonable, it does not even make sense. Even if some of the broker limits their customer to start maximum 1 order at a time, they are still be vulnerable to risk. 500 open orders of 0.01 lot, is that the specific same risk as 1 open order of 5 lots. What if I have balance of only $10?
The sole rationale why broker give this restriction is because of their host is not strong enough to serve their customers, hence they must set a limit on the number of opened orders. Anything related to the number of open orders in one time, minimum lot size, or leverage is likely related to the host performance. In this contributes to excruciating pain once the customers can't open any order during high volume, or can't shut their orders during volume. Brokers may lost trust from their customers after this occurs... which contributes to___________________ (you can fill it yourself).
I can affirm that ThinkForex still provides unlimited number of available orders and microlots. Does anybody knows broker that open unlimited number of available orders and nanolots ??
Krzysztof