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Different Implementation Models for VetexFX Trader
Posted by Mohammad Rahhal on 31 October 2011 06:04 PM

 

Different Implementation Models for VetexFX Trader

You can use the VertexFX not only for Margin trading, but also for other models like: 

  1. Exchanger Implementation model.
  2. Jewelry Shop Implementation Model.

Any Exchange/Jewelry Shop can have VertexFX Backoffice at their end in order to create a cash account for their clients with user name and password for each and depositing an amount at this Exchange or Jewelry Shop.

Exchange/Jewelry Shop will use the AMOUNT/OUNCE unit instead of LOT for the contract size where Trader will place a physical amount for doing the Exchange/Jewelry delivery (let’s say BUY 1,000 OUNCE instead of BUY 0.1 LOT).

One more thing, the contract size for cash exchanging is (1) instead of (100,000) for margin trading.

Last thing is that the Initial Margin requirement is also (1) instead of say (1000) as there is no leverage in cash exchanging and the physical metal delivery. Accordingly, client can place his money Exchange/Metal orders online by determining the amount he needs.

Follow the next steps for Exchanger Implementation: 

1. UNIT configuration:
You need to define a new unit on your system, and you will name it let say AMOUNT. To create new units follow these steps:

  • Login to the Backoffice and from the main menu go to System Options and choose the Configuration tab.
  • Click on the Amount Unit button, then a small window will appear to you, right click on it and choose new unit.
  • On the first blank name the unit with AMOUNT, and set the factor to be one, then press OK, also re-login to the system.

AmountUnit

2. Amount Unit type:
 
After you define the Amount Unit, be sure on the cash Symbols Settings from the General Tab that the Amount Unit is set to Amount.

EditSymbolEuroCash



3. Contract Size:
From the Calculation set the contact size to be one.

CalculationEuroCash

4. Initial Margin:

  • Now from the Accounts Tree, right click on the top node and choose Parameters then Edit Parameters.
  • A small window will appear to you, go to the Symbols tab and from the drop down list choose the parameter “Initial Margin”.
  • Multi select your cash symbols and right click choose Edit Selected.
  • Set the amount to be (1), and click on the override option and press Submit then OK.
InitialMargin

5. Create account:
In the End you will start creating clients on your accounts tree and assign accounts to them so they will start trading. 

  • New Client

When you need to open a new account for a new customer at first, you got to create a new client on the system, and that's by going to the accounts tree at first, press right click on the point of the tree that you want place this new client - choose the New option - select Client.  This window will appear for you:

NewClient

On this window, you will decide from the two check boxes on the top, the type of this Client (Read Only, Show as demo client). After that, you fill all information about your client on the empty blanks, press Submit. Then you will find this new client created on your accounts tree.

  • New Account:

After client creation, you may create for him an Account(s). To do that, select the desired account - New - Account, and this window will appear to you: 

NewAccount

  1. From this window you can see three options on the top, where you may apply any of them on the created account.
  2. From the Initial Balance blank, you can enter the starting balance for this client so he can start trading on the system. 
  3. After you finish press on the Submit button, and the account will be created with the information that you set for that client. 

Now the clients can start trading using the Exchanger Implementation model.

EURCASH

 

Follow the next steps for Jewelry Shop Implementation:

1. UNIT configuration: 

You will need to define a new unit on your system, and you will name it let say OUNCE. To create new units follow these steps:

  • Login to the Backoffice and from the main menu go to System Options and choose the Configuration Tab.
  • Click on the Amount Unit button, then a small window will appear to you, right click on it and choose new unit.
  • On the first blank name the unit with OUNCE, and set the factor to be one, then press OK, also re-login to the system.

OUNCEUnit

2. Amount Unit type:
After you define the Amount Unit, be sure on the cash Symbols Settings from the General Tab that the Amount Unit is set to OUNCE.

EditSymbolGoldCash

 

3. Contract Size:
From the Calculation set the contact size to be one.

CalculationGoldCash

4. Initial Margin:

  • Now from the Accounts Tree, right click on the top node and choose Parameters the Edit Parameters.
  • A small window will appear to you, go to the Symbols tab and from the drop down list choose the parameter “Initial Margin”.
  • Multi select you metal cash symbols and right click choose Edit Selected.
  • Set the amount to be one, and click on the override option and press Submit then OK.

InitialMargin

5. Create account:
In the End you will start creating clients on your accounts tree and assign accounts to them so they will start trading.

Now the clients can start trading using the Jewelry Shop Implementation model.

GOLDCASH


(4 vote(s))
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Comments (2)
Kaden
21 November 2011 09:09 PM
Play informative for me, Mr. internet wirter.
Santosh Pradhan
28 December 2011 08:35 PM
How can the jeweler put his own bid and ask in the data feed. Like there are many jeweler who may have different buying and selling rates? So, clients can choose best rate from different jeweler?
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