QUOTE(tachlio @ Dec 17 2009, 03:44 PM)
start from 20 Dec, IBFX allow to hedge intraday, anyone know detail??
Briefly:
* You will be able to place both long and short orders in the same currency pair during the course of the day.
* Just before swap at approximately 5 pm Eastern Time the trades will be netted out, please see the example below.
Example:
Example #1:
At 10:11:00 Eastern you open a 2 lot long on the EUR/USD at 1.4730 (ticket #1).
At 13:01:01 Eastern you open a 2 lot short on the EUR/USD at 1.4733 (ticket #2).
Just before swap, at approximately 17:00 Eastern, ticket #1 is closed out at 1.4733 and ticket #2 would show 0 lots with an open and close price of 1.4733.
Example #2:
At 10:11:00 Eastern you open a 1 lot long on the EUR/USD at 1.4730 (ticket #1).
At 13:01:01 Eastern you open a 2 lot short on the EUR/USD at 1.4733 (ticket #2).
Just before swap, at approximately 17:00 Eastern, ticket #1 is closed out at 1.4733. The remainder of ticket #2 would allocate to a new trade ticket of 1 lot short at 1.4733. Swap would be charged to this new ticket for that symbol’s rate for one lot.
At 10:11:00 Eastern you open a 5 lot long on the EUR/USD at 1.4730 (ticket #1).
At 13:01:01 Eastern you open a 2 lot short on the EUR/USD at 1.4733 (ticket #2).
Just before swap, at approximately 17:00 Eastern, 2 lots of ticket #1 would close at 1.4733. Ticket #2 would show 0 lots with an open and close price of 1.4733. The remainder of ticket #1 would allocate to a new trade ticket of 3 lots long at 1.4730. Swap would be charged to this new ticket for that symbol’s rate for three lots.
As per email from IBFX