How to avoid extra commissions when hedging in MetaTrader 4 

A step-by-step giude on how making use of MetaTrader 4's “close by” function can save you commission when hedging trades.

Trading with Dukascopy Bank brings traders lots of benefits. Dukascopy welcomes all kinds of trading styles, no matter you are scalping, hedging, or trend following. While taking advantage of ECN trading with the SWFX interbank rates, traders can be as flexible as they want.

As hedging is a common option for a lot of traders, in this issue will we reveal how to close hedged trades in our T3 Integration Bridge and how to save a few commissions with the “close by” function in MetaTrader 4 terminal.

You’ve probably noticed when you opened hedged trades in MetaTrader 4 there won’t be any trade displayed in Jforex. This is because MetaTrader 4 is an order-based trading platform, which register opposed trades as two orders and Jforex position-based, meaning opening two trades of the same currency pair will be registered as one trade.

 In this article we will show you how to close hedged trades in MetaTrader 4 with “Close By” function so you will be charged commission only once for opposing orders.

How to use the Close By function in MetaTrader 4

Step 1: Place a Buy EUR/USD Trade with 1 lot.

Step 2: Place a SELL EUR/USD Trade with 1 Lot.

Step 3: Now we see both orders are executed with the same size in opposite directions.

Step 4: Right-click on the SELL order and click-on “Modify or Delete Order”

Step 5: Choose “Close by” under “Type”

Step 6: Mark the other hedged order, then close both orders.

Step 7: Now lets check the account history. You will find that only one commission has been charged for both orders, and in the comment field it says “close hedge by #order_number”.

This function is quite useful if hedging is part of your forex trading strategy, or you are trading with an EA that hedges.

This is only one of the useful features of Fair Trading Technology's innovative T3 Integration Bridge and with our new $1 per lot flat fee, just one more way to save you money while bringing true transparent trading to forex traders.