ASIC and CySec-regulated retail broker, easyMarkets, have releasead a bold risk management feature. Dubbed as "dealCancellation", this new feature will refund trader's losing positions by cancelling it within an hour after open position filled. Sounds like a deal already!
But Wait, Here's The Catch!
You have to deposit at least USD 1,000 to activate this new risk management feature, so make sure you got it checked! Also, this feature will charge you with a fee of few pips away from when said position has been opened.
Well, better be losing some few peas rather than bags of 'em, aight? Yes, you can save yourself from a mistake that otherwise will cost you much much more.
So, Why Should That Be A Thing?
If you're a brave warrior, ehm, trader with penchants of entering market while volatility is scaring most faint-hearted ones. Then by all means, this is your new shiny tool to let 'em harken your daring steps.
NFP, GDP, name all those big event market drivers. This easyMarkets dealCancellation will cover your back, that is if and when necessary. With one button push, you can "undo" big red accrued losing pips. It just couldn't get any simpler!
To top it off, here's what Nikos Antoniades as CEO of easyMarket said, "This is a bold new feature that no one else is offering. Essentially it means that you can open a deal and if the deal starts losing, you can cancel it and have your losses returned. It’s as simple as that. What gives us the ability to innovate is that we’ve always invested in our technology and we’ve stayed true to our founding principal of making trading easy and accessible to all. The depth and breadth of our knowledge and experience in the industry means we can offer great trader-centric tools that no-one else is doing."
This cutting-edge almost risk-free feature was developed by ORE, an options platform provider in tandem with rules and specifications stipulated by easyMarkets.
Want more details and all the nook and crannies? Read here!