Mobile Trading Tutorial

MG Financial constantly strives to provide the tools and services that will keep you, the sophisticated forex trader, closer than ever to vital market news and rates, and allow you to trade the market with greater ease. We have felt it necessary, according to your feedback, to develop a live trading platform that can be accessed and utilized via wireless cellular phones. Therefore, after months of extensive testing, we are proud to announce the release of MG LIVE Wireless trading and we've prepared a tutorial to help you better understand the unique and flexible opportunities that await you in the wireless trading world.

Although the forex market never sleeps, unfortunately, you have to. MG Financial has launched Wireless trading to enable traders to use our proprietary DealStation™ services anytime and from anywhere around the world. Using any wireless phone device, traders can access MG's live quotes for the major currency pairs to place order for either their live or demo accounts on the DealStation. We will now take this opportunity to show our traders how to utilize MG's wireless trading services. You can begin wireless trading by logging into MG wireless website: "wap.mgforex.com" or "wmgfx.com" on your Wireless-enabled phone.

The next step is logging into your account by using your DealStation™ Account Username and Password.

After logging on, traders can select the 'Rates' option, which is the first step towards placing a trade:

The next step is choosing the currency pair and selecting to either Buy or Sell. Bid corresponds to a Sell and Ask corresponds to a Buy.

Traders can place orders including Market, Stop, Limit, and OCO through the MG wireless trading platform. Currently, If Done orders cannot be placed through wireless trading, however, any If Done orders that have been placed via the online site or over the phone will be displayed in the Orders window on the wireless device.

Confirmation windows will follow this action.

Wireless trading also offers traders the flexibility to check details about their account balance, open orders, open trades, and settled trades for the day and the week. For example, if a trader is interested in viewing his account balance, he should select Account Status from the main window and then choose the interval of choice from the next screen.

Traders can check the status of their open trade details by selecting the 'Trades' option. Trade details will display the ticket number and the profit and/or loss for the trade.

To close a trade, traders must select the particular trade and then choose the 'Close Trade' option.

Keep in mind that you are also able to place stop and limit orders to perform as either protective orders for open positions or to open new trades at certain designated market levels. We would like to strongly suggest practicing on the MG Demo Wireless Trading Platform prior to managing your live account via portable devices.

Further, it is equally important to understand that MG Financial cannot guarantee that the dealing desk will receive your orders if you are in a location that is out of your service plan's range. Please be sure to receive confirmation of your orders before logging out of your account and to contact your local service provider about your plan's best covered areas.

Wireless trading is a great tool that keeps traders connected to the market 24 hours a day during the trading week. MG Financial is proud to be the pioneers in this technological evolution that now brings wireless trading to your fingertips.

MG Financial, and any of its affiliates, will not be held responsible for the reliability or accuracy of the information available in this article. The content provided is put forward in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by MG Financial or its affiliates. The reader agrees not to hold MG Financial, or any of its affiliates, liable for decisions that are based on information from this article.