Definitely you have to deposit money in order to trade

See the Sell queue and what price they are offering

right i'll use a diagram to explain. spoiler is really long.


hope that helps. if not clear just keep asking.

haha good, yeah you're right. priority goes to whoever is willing to jump the queue and buyer higher/ sell lower.
the order will still remain as one lot. anyone who puts a sell order at 4.97 will only get a partial order match of 1 lot.

say im a seller, i place sell 10 lots at 4.97 but unluckily when it comes to my turn to buy, buyer only wants to buy 1 lot. so deal will automatically be done for 1 lot. at this point, the 4.97 buy queue will be wiped out, and next buy queue will be 4.95. so i'll be left in the 4.97 sell queue with 9 lots of buy @4.97, while other sellers will probably jump queue and sell at 4.95 to the next available buyer (at 4.95)

orders wont be cancelled. they'll remain but you'll get a partial match if there isn't enough quantity to match your order.

there's another scenario as well..

say i am seller B in the sell queue (i want to sell 50 lots). there's a seller A in front of me in the sell queue.. (because he placed the order earlier than me). he wants to sell 28 lots. in comes a buyer wanting to buy at our sell price. he wants to buy 60 lots. so the system will automatically settle the trades. he will take 28 from seller A in front of me, and 32 from me. so i'll be left with a partial trade done at 32 lots. with 18 lots left in the queue.

get it?

Forex player will die of boredom in the share market.. it's snail-paced!