Guide to Telephone Trading Etiquette
1. Introduction
- The Customer has the right to give requests and instructions over the telephone only if it is impossible to trade via the client terminal.
- The Customer shall give requests and instructions to Alpari's dealers on:
+44 (0)20 7426 2900.
- The Customer has to provide his/her login, password and type of account prior to giving requests and instructions over the telephone. In case of unsuccessful password authorisation or if the Customer refuses to go through this process, his/her instructions will not be accepted.
- All the requests and instructions must be given in English.
- The terms used in this document have the same meaning as defined in the Terms of Business.
2. Security Checks
| Customer: |
"Hello, this is John Smith, account number 1234, phone password – smith." |
| Dealer: | "Ok thanks, how can I help you?" (NB: If all relevant checks have been successful). |
Note: No trade is complete unless the dealer has confirmed full trade details.
3. Trading Instructions
Open a position
| Customer: | "I would like to trade 2 lots USDJPY ". |
| Dealer: | "USDJPY is currently trading at 91.476/91.504"(Bid/Ask). |
| Customer: | "Buy" or "Sell" or "Nothing done". |
| Dealer: | "I confirm you have bought 2 lots of USDJPY 91.504 |
Note: No trade is complete unless the dealer has confirmed full trade details.
Close a position
| Customer: | "I would like to close 2 lots of my position in USDJPY, ticket 22365". (NB: The Customer should specify if he/she wishes to close a position partially: for example, "I would like to close 2 lots of my long position in USDJPY, ticket 22365." |
| Dealer: | I can close the position at the current market price which is 91.470/91.500 |
| Dealer: | "I confirm you have closed 2 lots of your position in USD/JPY at 91.470 ticket 22365". |
Note: No trade is complete unless the dealer has confirmed full trade details.
| Customer: | "Ok thanks". |
4. Place an order
Place a Stop Loss or Take Profit order
| Customer: |
"I would like to place a Stop Loss order at 91.404 for my long position in USDJPY, ticket 22365 ". |
| Dealer: | "I would like to place a Stop Loss order at 91.404 for my long position in USDJPY, ticket 22365 ". |
Note: No trade is complete unless the dealer has confirmed full trade details.
| Customer: |
"Ok thanks". |
Place a Pending Order
| Customer: | "I would like to place a buy limit order at 117.50 for 1 lot in USD/Yen". |
| Dealer: | "You have placed a buy limit order at 117.50 for 1 lot in USD/Yen, ticket 549801" |
| Customer: | "Done" |
Note: No trade is complete unless the dealer has confirmed full trade details.
5. Cancelling/ Deleting Orders
Cancelling/Deleting Stop Loss or Take Profit order
| Customer: |
"I would like to delete my Stop Loss order for my Buy position in USDJPY, ticket 22570". |
| Dealer: | "You have deleted your stop loss order for your buy position in USD/Yen, ticket 22570". |
Note: No trade is complete unless the dealer has confirmed full trade details.
| Customer: |
"Ok thanks". |
Cancel a Pending Order
| Customer: | "I would like to delete my Sell stop order for my position in USDJPY, ticket 24587". |
| Dealer: | "I confirm you have cancelled your Sell Stop order for your position in USDJPY, ticket 24587". |
Note: No trade is complete unless the dealer has confirmed full trade details.
| Customer: |
"Ok thanks". |
6. Modify Order Level
Modify Stop Loss or Take Profit Level
| Customer: | "I would like to modify my Stop Loss level for my long position in USDJPY from 91.404 to 91.304, ticket 22365". |
| Dealer: | "I confirm you have modified your Stop Loss level for your long position in USD/Yen from 91.404 to 91.304, ticket 22365". |
Note: No trade is complete unless the dealer has confirmed full trade details.
| Customer: |
"Ok thanks". |
Modify Pending Order Level
| Customer: |
"I would like to modify my Buy Stop order in USDJPY from 91.504 to 91.500, ticket 22365". |
| Dealer: | "I confirm you have modified your Buy Stop order in USDJPY from 91.504 to 91.500, ticket 22365". |
Note: No trade is complete unless the dealer has confirmed full trade details.
| Customer: |
"Ok thanks". |
7. Quote Request
In order to request an indicative quote, the Customer does not have to provide his/her password. In this case the Customer has to state only his/her name and surname and login.
| Customer: | "Hello, this is John Smith, account number 1234, EURUSD”. |
| Dealer: | "EURUSD 1.28641 /1.28659”. |
8. Miscellaneous
These dialogues are examples of how the Customer should speak over the telephone while trading. If the Customer fails to comply with the Telephone Trading Etiquette, the dealer has the right to terminate the telephone conversation.
The Customer accepts that if the telephone conversation has not been concluded in accordance with the Telephone Trading Etiquette, i.e. has been terminated by any reason, he/she will be responsible for his/her requests and/or instructions.
In the situations described above the Customer, among other details must provide a ticket number. If the Customer forgets this number, the dealer has the right to accept the instruction if the Customer can indicate all other details correctly. If the Customer has two or more positions with the same details, the dealer has the right to choose any of them.
The dealer has the right to terminate the telephone conversation if the Customer is silent for a reasonable period of time (approximately 5 seconds) after his/her instruction/request has been concluded.
Any questions?
We at Alpari, pride ourselves on offering a world class customer service. If you have any questions, please feel free to contact us.
- FAQ
- Find your answer
- info@alpari.co.in
Client Services:
+91-22-6156 3030
Sales:
+91-22-6156 3040