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Contract Types

Throughout the site you will see references to different types of contract and orders. We hope this page will help you to gain a clear understanding of these terms but please feel free to contact us for more information.

A trade is agreed based on the current market price in the live market. 


A client can either do this manually by logging into their secure account platform online, or by calling the dealing desk and booking their trade instantly. Once this is done, you will be able to track your open position within the “Trade” tab of the “Terminal” on the MT4 platform.

Instant Execution Contract

Pending order contracts can also be placed manually online via your secure account platform, or by calling the dealing desk.


This allows the client to agree on the placement of an order within the market / instrument of their choice, whenever the market reaches their desired price. This is ideal for clients who are not in a position to monitor the markets constantly.

Pending Order Contract

If you wish to go long (buy) at a price above the current market price you use a Buy Stop

If you wish to go short (sell) at a price below the current market price you use a Sell Stop

If you wish to go short (sell) at a price above the current market price you use a Sell Limit

If you wish to go long (buy) at a price below the current market price you use a Buy Limit

Scenario


The client has been watching the stock of “Megahope Inc.” and their strategy tells them that this company is a “Buy” when it gets to a certain price – we’ll say when it gets to $100. The client is not in a position to monitor the price movements of “Megahope Inc.” on a daily basis. They can see that the company is slowly creeping up towards their target so they need a solution.


Solution


The client can access their MT4 platform and place a “Pending Order” to purchase “Megahope Inc.” when it reaches $100. Once the client has submitted this order, it will activate immediately and automatically when the price breaches the $100 level. The client can see exactly how to place a pending order in the “MT4 Guide”. 


Alternatively, the client can simply phone the Dealing Desk, and request that the order is placed for them. In either instance, the order will be visible within the “Terminal” of the MT4 platform.


Example

If you only wish to place a trade on a specific market at a specific price, you can manually place a limit order online via your secure account platform to ensure that you enter the market at your ideal level.

Limit Orders

Stop orders can be used to protect against the market moving adversely against you. It can also be used to allow clients to lock in a worst case scenario while holding out for a better rate

Stop Orders

Minimum Deposit £ / € / $ Trading Reward £ / € / $
500 - 1,000 500 - 1,000
1,000 - 2,999 1,000 - 2,999
3,000 - 4,999 3,000 - 4,999
5,000 - 7,499 7,500
10,000 - 14,999 20,000
25,000+ Contact LetsTrade

Only applicable to new LetsTrade customers that make an initial deposit during the promotion period specified above.

Trading Rewards will be credited to each customer’s account on a monthly basis rebating all trading commissions incurred during the prior month up to the level specified in the trading rewards table.

Not to be used in conjunction with any other LetsTrade promotional offer.

Upon opening an account and availing of the Lestrade services the Customer Terms and Conditions Agreement shall apply.

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LetsTrade and LetsTrade.com are registered trading names of JFD Brokers Limited and its subsidiary JFD Overseas Ltd. JFD Brokers Ltd. is authorised and regulated by the Cyprus Securities and Exchange Commission - CySEC (Licence number: 150/11) and is a Member of the Investor Compensation Fund (ICF). JFD Brokers Ltd. is registered with the German Federal Financial Supervisory Authority - Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) (Registration number: 126399), the British Financial Conduct Authority - FCA (Registration number: 580193), the French Autorité de Contrôle Prudentiel et de Résolution - ACPR (Registration number 74013), the Italian Commissione Nazionale per le Società e la Borsa - CONSOB (Registration number 3317) and is MiFID II compliant under the Investment Services and Regulated Market Law of 2017 (Law number: 87(I)/2017). 

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of the retail investor accounts lose money when trading CFDs with the Company. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Seek independent advice if necessary and review our Risk Disclosure and Privacy Policy before opening an account.


JFD Brokers Ltd is licenced to provide the investment services of Agency Only Execution (i.e. reception and transmission of orders, execution of orders on behalf of clients), Portfolio Management and Investment Advice in relation to Transferable Securities, Options, Futures, SWAPS, Forward Rate Agreements, Financial Contracts for Differences (CFD) and other Derivatives. JFD Brokers Ltd is also licenced to provide the ancillary service of Safekeeping and Administration of Financial Instruments.


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JFD Overseas Ltd is authorized and regulated by VFSC (License number:17933) and is authorized as Dealer in Securities.

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