ShineTrades Legendary Execution

ShineTrades has pioneered at introducing a no re-quotes and no rejection of orders policy on the Ctrader platform since 2010. We offer 100% execution of orders with 99.35% of all our orders executed in less than 1 second.

Placing Orders

Our trading platform supports market, limit, stop and trailing stop orders, and you have the freedom to place orders at any time during trading hours. In case you prefer telephone trading and speaking directly to any of our dealers, at ShineTrades this is also possible. Your position will remain open until the closing trade is executed; moreover, your account balance is updated real-time according to current market prices.

With fractional pip pricing you can trade with tighter spreads and enjoy most accurate quoting possible.

Kindly note that you may only hold up to 200 positions open simultaneously (per client and including pending orders).

Fills on Market Orders

At ShineTrades you can trade 5 million with a simple click, as we guarantee fills on market orders up to 50 lots (5 million). However, if you intend to deal in an amount even bigger than this, you can either split up the order into smaller trade sizes, or request your full trade by telephone.

Fills on Stop – Loss and Limit Orders

At ShineTrades we understand the importance of stop-loss and limit orders in risk management, this is why we guarantee fills on both such orders up to 50 lots at the best available market price.

Holiday and Weekend Execution

Should there any market gaps occur from a Friday close to a Sunday opening, ShineTrades executes all pending limit or stop orders at the first available market price for the corresponding position size.

Volative or Illiquid Market Trading

Thanks to its alertness and business partnerships with various liquidity providers, ShineTrades aims to serve you best even during volatile market conditions by executing orders at the best available market price.

Tight Spreads as Low as 0 Pips

ShineTrades offers all traders, without exception, the same tight spreads for all account types and trade sizes, without charging any extra fees or commissions. We recognize the fact that tight spreads only make sense if you can trade on them. That is why we attribute such a great importance to our execution quality

Fixed or Variable Spreads?

ShineTrades operates with variable spreads, just like the interbank forex market. Because fixed spreads are usually higher than variable spreads, in case you trade fixed spreads, you will have to pay for an insurance premium.

Many times, forex brokers who offer fixed spreads apply trading restrictions around the time of news announcements – and this results in your insurance becoming worthless. ShineTrades imposes no restrictions on trading during news releases.

Fractional Pip Pricing

ShineTrades also offers fractional pip pricing to get the best prices from its various liquidity providers. Instead of 4-digit quoting prices, clients can benefit from even the smallest price movements by adding a 5th digit (fraction).

With fractional pip pricing you can trade with tighter spreads and enjoy most accurate quoting possible.

ShineTrades Rollover Policy

ShineTrades debits or credits clients’ accounts, and handles rollover interest at competitive rollover rates for all positions held open after 22:00 GMT. Although there is no rollover on Saturdays and Sundays when the markets are closed, banks still calculate interest on any position held over the weekend. To level this time gap, ShineTrades applies a 3-day rollover strategy on Wednesdays.

About Rollover

Rollover is the process of extending the settlement date of an open position (i.e. date by which an executed trade must be settled). The forex market allows two business days for settling all spot trades, which implies the physical delivery of currencies.

In margin trading, however, there is no physical delivery, so all open positions must be closed daily at end-of-day (22:00 GMT) and re-opened on the following trading day. This pushes out the settlement by one more trading day. This strategy is called rollover.

Rollover is agreed on through a swap contract which comes at a cost or gain for traders. ShineTrades does not close and re-open positions but debits/credits trading accounts for positions held open overnight, depending on the current interest rates (LIBOR/LIBID with added mark-up).

Calculating Rollover

Every currency trade is based on borrowing one currency in order to buy another. Interest is paid on the borrowed currency and earned on the purchased currency. For instance, if we assume that the interest rates in Japan and the US are 0.25% p.a. and 2.5% p.a. respectively, and you have a buy position of 1 lot in USDJPY at 118.50, you will earn 2.5% per year on your USD and pay 0.25% per year on your borrowed JPY.

This means that with an open position you gain USD 6.16 per day [100,000* (2.5%-0.25%)/365]. This amount is credited to your account and equivalent to 0.73 pips per day [118.50* (2.5%-0.25%)/365]. Similarly, if you have a short position in USDJPY, you lose USD 6.16 per day. Thus rollover interest can provide an added stream of profit or loss for you.

Booking Rollover (Summer Time)

21:00 GMT is considered to be the beginning and the end of a forex trading day. Any positions which are still open at 21:00 GMT sharp are subject to rollover and will be held overnight. Positions opened at 21:01 are not subject to rollover until the next day, but if you open a position at 20:59, a rollover will take place at 21:00 GMT. For each position open at 21:00 a credit or debit appears on your account within 1 hour, and will be directly applied to your equity account.

Forex Market Hours

As one major forex market closes, another one opens. According to GMT, for instance, forex trading hours move around the world like this: available in New York between 01:00 pm – 10:00 pm GMT; at 10:00 pm GMT Sydney comes online; Tokyo opens at 00:00 am and closes at 9:00 am GMT; and to complete the loop, London opens at 8:00 am and closes at 05:00 pm GMT. This enables traders and brokers worldwide, together with the participation of the central banks from all continents, to trade online 24 hours a day.

More Activity, More Possibilities

The forex market is open 24 hours a day, and it is important to know which are the most active trading periods.

For instance, if we take a less active period between 5 pm – 7 pm EST, after New York closes and before Tokyo opens, Sydney will be open for trading but with more modest activity than the three major sessions (London, US, Tokyo). Consequently, less activity means less financial opportunity. If you want to trade currency pairs like EUR/USD, GBP/USD or USD/CHF you will find more activity between 8 am – 12 am when both Europe and the United States are active.

Alertness and Opportunity

Other forex trading hours to watch out for are the release times of government reports and official economic news. Governments issue timetables for when exactly these news releases take place, but they do not coordinate releases between the different countries.

It is thus worth finding out about the economic indicators published in the different major countries, as these coincide with the most active moments of forex trading. Such increased activity means bigger opportunities in currency prices, and sometimes orders are executed at prices that differ from those you expected.

As trader, you have two main options: either include the news periods in your forex trading hours, or decide to deliberately suspend trading during these periods. Whichever alternative you opt for, you should take a pro-active approach when prices suddenly change during a news release.