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Knowledge base: FAQ
Etiquette for Trading Operations via Telephone
Posted by on 29 January 2014 04:15 PM

When a client is unable to trade on the client terminal there is the option to trade via telephone. In this case the client may contact FXOpen by phone. The following information is required upon connecting with a dealer:

› Login number;
› Phone password.

  • Knowledge and understanding of the Terms of Business is also required upon contacting a dealer via telephone.

Example of proper procedure:

Dealer: “Hello, you have reached the FXOpen dealing desk.”
Client: “Hello, my name is Michael Doe, my login is 123456 and my telephone password is Doe.” *
Dealer: “Hi Michael Doe. How can I assist you today?”

*This information must be accurate in order to continue.

  • The conversation can be terminated if the client is silent for an unusual length of time (5 to 10 seconds).
  • The client is responsible for conducting the telephone transaction in accordance with the procedures outlined in this document. Failure to adhere to these procedures may result in the termination of the transaction and client holds full responsibility for any and all trading requests prior to termination.
  • If the confirmation hasn’t been received from Dealer due to low quality of the telephone connection or a transmission interruption in the middle of the conversation, the Client must repeat the telephone transaction again to get such a confirmation.
  • The Company is not responsible for the quality of the telephone connection.

In order to make a Quote request:

Client: “I want a Quote for GBPUSD.”
Dealer: “GBPUSD 1.58920/1.58950.”
Client: “Thank you.”


In order to open a position:

Client: “I want to open a position 1.0 Lots EURUSD.”
Dealer: “EURUSD is trading (BID/ASK) at 1.41550/1.41570.”
Client: “Sell” / “Buy” / “No trade.”
Dealer: “I am confirming Sell 1.0 Lots EURUSD at 1.41550 ticket number 98765432.” / “I am confirming Buy 1.0 Lots EURUSD at 1.41570 ticket number 98765432.” / “I am confirming that you have not opened a position.” / “Price changed. EURUSD is trading (BID/ASK) at NEW Quote.” *

*This confirmation is necessary in any telephone transaction. A trade has NOT been placed unless this confirmation is made by the dealer.


In order to close a position:

Client: “I want to close 2.0 lots of my order GBUSD with ticket number 87654321.”
Dealer: “I am able to close 2.0 lots of that order at the current GBPUSD market price of 1.58940/1.58970.”
Client: “Close” / “No action.”
Dealer: “I confirm close of 2.0 lots GBPUSD for ticket 87654321 at 1.58940.” / “I confirm that you have taken no action.” *
Client: “Thank you.”

*This confirmation is necessary in any telephone transaction. A trade has NOT been closed unless confirmed by dealer.


In order to place a Stop Loss or Take Profit order:

Client: “I want to place a Take Profit order for ticket number 87654321; Sell AUDUSD. I want the Take Profit at 0.78620.” / “I want to place a Stop Loss order for ticket number 87654321; Sell AUDUSD. I want the Stop Loss at 0.79920.”
Dealer: “I confirm Take Profit for ticket 87654321 at 0.78620.” / “I confirm Sell Stop for ticket 87654321 at 0.79920.” *;
Client: “Thank you.”
* This confirmation is necessary in any telephone transaction. A Stop Loss or Take Profit order has NOT been made unless confirmed by dealer.


In order to place a pending order:

Client: “I want to place a Buy Limit order for USDCHF of 1.5 Lots at 1.05680.” / “I want to place a Sell Limit order for USDCHF of 1.5 Lots at 1.06650.”
Dealer: “I confirm you have placed a Buy Limit order USDCHF for 1.5 Lots at 1.05680; ticket number 98765432.” / “I confirm you have placed a Sell Limit order USDCHF for 1.5 Lots at 1.06650; ticket number 98765432.” *
Client: “Thank you.”

*This confirmation is necessary in any telephone transaction. A Buy Limit or Sell Limit order has NOT been placed unless confirmed by dealer.


In order to cancel or delete a Stop Loss or Take Profit order:

Client: “I want to delete my Take Profit order for ticket number 98765432; Buy USDJPY.” / “I want to delete my Stop Loss order for ticket number 98765432; Buy USDJPY.”
Dealer: “I confirm you have deleted Take Profit for ticket number 98765432; Buy USDJPY.” / “I confirm you have deleted Stop Loss for ticket number 98765432; Buy USDJPY.” *
Client: “Thank you.”

*This confirmation is necessary in any telephone transaction. A Stop Loss or Take Profit order has NOT been deleted unless confirmed by dealer.


In order to delete a pending order:

Client: “I want to delete ticket number 98765432; Buy Limit order for USDCHF of 1.5 Lots at 1.05680.” / “I want to delete ticket number; Sell Limit order for USDCHF of 1.5 Lots at 1.06650.”
Dealer: “I confirm you have deleted ticket 98765432; Buy Limit order for USDCHF of 1.5 Lots at 1.05680.” / “I confirm you have deleted ticket 98765432; Sell Limit order for USDCHF of 1.5 Lots at 1.06650.” *
Client: “Thank you.”

*This confirmation is necessary in any telephone transaction. A Buy Limit or Sell Limit order has NOT been deleted unless confirmed by dealer.


In order to modify a Stop Loss or Take Profit Level:

Client:“I want to modify Take Profit for ticket number 87654321; type Buy USDCAD. I want to modify Take Profit from 1.19900 to 1.20520.” / “I want to modify Stop Loss for ticket number 87654321; type Sell USDCAD. I want to modify Stop Loss from 1.19590 to 1.19020.”
Dealer: “I confirm you have modified Take Profit for ticket 87654321 from 1.1990 to 1.2052.” / “I confirm you have modified Stop Loss for ticket 87654321 from 1.19590 to 1.19020.” *
Client: “Thank you.”

* This confirmation is necessary in any telephone transaction. A Stop Loss or Take Profit order has NOT been modified unless confirmed by dealer.


In order to modify a pending order level:

Client: “I want to modify ticket number 98765432; Buy Limit order for USDCHF of 1.5 Lots. I want to modify Buy Limit from 1.05680 to 1.06020.” / “I want to modify ticket number 98765432; Sell Limit order USDCHF of 1.5 Lots. I want to modify Sell Limit from 1.06650 to 1.06120.”
Dealer: “I confirm you have modified Buy Limit for ticket 98765432 from 1.05680 to 1.06020.” / “I confirm you have modified Sell Limit for ticket number 98765432 from 1.06650 to 1.06120.” *
Client: “Thank you.”

*This confirmation is necessary in any telephone transaction. A Buy Limit or Sell Limit order has NOT been modified unless confirmed by dealer.

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