LIMASSOL, Cyprus, Oct. 3, 2016 /PRNewswire/ -- easyMarkets recently launched a first for the online trading industry with an innovative new product that allows traders to cancel losing deals up to 60 minutes from opening. The development of such a uniquely trader-centric feature is new for a broker that is already renowned for other trader-safety offerings including guaranteed stop loss and negative balance protection.
Nikos Antoniades, CEO of easyMarkets says, "dealCancellation is core to our DNA – it's innovative and trader-focused. It was the perfect tool to launch with our new platform which aims to be the best risk management platform in the industry."
The Company has been in the online trading scene since 2003, longer than most, and this has given them some insights into trader needs. Namely, what keeps many out of trading – fear of loss. A tool like dealCancellation helps mitigate that fear as it gives traders a safety net in case they make a wrong decision about their trade direction. Enabling dealCancellation on a trade does entail a small fee based on volatility that is clearly shown before the trader accepts the deal, but it is a small amount compared to what they might save in case of a losing deal.
A money-back service, though new to the online trading industry, is not new to the retail market as it is also seen in hotel or airline booking agencies. However, the unique mechanism of brokers that are market makers does present challenges. Antoniades elaborates, "Getting the pricing right was a challenge. We needed to price it in a way that was fair to our clients but also kept the company safe. Our fantastic risk management team are on it 24/7 – they ensure a fair and consistent price to the trader while ensuring the company is not exposed to risk."
Originally launched in their Australian market, dealCancellation has been greeted enthusiastically by both new and seasoned traders. Those looking to risk higher amounts or trade more opportune but volatile markets are particularly enjoying the stress-free trading dealCancellation offers.
dealCancellation has since rolled out to all their global clients and is available for all forex majors, gold, silver and oil. Indices and commodities are being added as demand dictates.
dealCancellation terms and conditions.
Risk warning: Forward Rate Agreements, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you understand fully the risks involved and do not invest money you cannot afford to lose. Our group of companies through its subsidiaries is licensed by the Cyprus Securities & Exchange Commission (Easy Forex Trading Ltd- CySEC, License Number 079/07), which has been passported in the European Union through the MiFID Directive and in Australia by ASIC (Easy Markets Pty Ltd -AFS license No. 246566).
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