MEXEM FAQ Tags

order

Trading

Why is my order stuck in a "pending cancel" state?

If your cancellation request shows as Orange, it's not confirmed cancelled and may still execute. Orders submitted and cancelled when exchanges are closed will be removed post-weekend. Pending cancels during trading sessions might be system or exchange issues; contact MEXEM's Trade Issues group. Cancellation only occurs once the exchange confirms removal from the order book. Visit MEXEM Knowledge Base for more.

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Trading

Why is my FX Closing trade getting rejected due to low balance?

Cash accounts must cover costs of positions and can't have a negative balance. Market orders include an extra 5% to account for price uncertainty. If you receive a rejection despite having sufficient funds, try a Limit order or reduce the Market order size. For foreign securities, perform a currency conversion and wait for settlement. Visit the MEXEM Knowledge Base for more details.

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Trading

What is the difference between a Stop order and a Stop Limit order?

Stop order (STP): Designate Stop Price, triggers market order when hit. Stop Limit order (STP LMT): Designate Stop Price and Limit Price, triggers limit order at designated price. More info on website. Details on stop orders in Knowledge Base.

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Funds & Banking

What does the message "Insufficient Settled Cash" mean?

Selling a security may lead to "Insufficient Settled Cash" for subsequent transactions until settlement. Caused by "Cash" accounts' limitations or applying proceeds to futures in another segment. Solutions: Wait for settlement, deposit more funds, or reduce order size. Buying foreign securities in "Cash" accounts may require currency conversion and settlement wait.

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General Questions

What does the message "Insufficient Settled Cash" mean?

"Insufficient Settled Cash" may occur after selling a security, limiting immediate use for further transactions until settlement. Caused by "Cash" account restrictions or using proceeds for futures. Solutions: Wait, deposit more, or reduce order size. "Cash" accounts may need currency conversion and settlement wait for foreign security purchases.

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Trading

What do the colors in the Order Status field mean?

Status colors are visible in both Classic and Mosaic Activity Orders layouts. For details, mouse-over order status color. If not showing, check "Show order status information" under Tooltips in Display Settings. Refer to TWS Users' Guide for more.

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Trading

Is there a minimum order size?

Most MEXEM products have no minimum order size, allowing trades as low as 1 share, contract, or currency unit. Forex is defined in first currency units. Bond minimums vary, and mutual funds have a $3,000 initial minimum. Check prospectuses for more details.

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Trading

How do you calculate margin requirements on futures and futures options?

Futures options and margins use SPAN margining, a calculation algorithm set by exchanges. MEXEM may require additional margin for extreme market scenarios. You can check projected margin requirements before order submission on our platform. IRA margin rates might exceed non-IRA requirements. No Intraday margin rates for cash and IRA accounts.

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Trading

How do I place a stop loss order in WebTrader?

In WebTrader, attach a Trailing Stop order to a primary order by clicking the green "+" on the left of the order line in the Order Management panel. Check the box next to "Attach Auto Trailing Stop." Enter the order parameters, review, and submit. For more details, refer to the Users' Guide on creating orders in WebTrader.

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Getting Started

How do I sell a stock in TWS?

To sell a security, add it to your Watchlist and right-click on the symbol. Choose Trade > Order Ticket (or Trade > Order Entry) and select Sell. Configure your order parameters. For more guidance, refer to the website's educational resources, such as short videos and webinars, that cover the basics of TWS.

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Funds & Banking

How do I place an order in MEXEM Mobile for iPhone?

To trade using MEXEM Mobile for iOS, download and install the app from the iTunes App Store. Login with your User ID and Password to access the trading app. Use tools like the Order Ticket to create and submit orders. From the Instrument Details screen, tap Buy or Sell to open the Order Ticket. Modify order parameters (Quantity, Time-in-force, Order Type, Price, etc.). Preview the order if desired and submit using the slider. For more details, refer to our Users' Guides on creating and submitting orders in MEXEM Mobile for iOS.

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Trading

How do I place a stop loss order in TWS?

To attach a Stop Loss order in Mosaic, expand the Advanced panel in the Order Entry panel and select Attach Stop Loss. Enter the order parameters and submit. In Classic TWS, right-click on an order management line and select Attach, then choose Stop Loss. Define the order parameters and transmit. If the order is pending, right-click on the order line in the Pending orders window, select Attach, then choose Stop Loss. Define the order parameters and transmit. Refer to our Users' Guide for more information.

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Trading

How do I create a Conditional order in TWS?

To create a Conditional order in TWS, set up the desired order, right-click on it, and select Modify, then Condition. Click Add, choose the condition type, and follow the prompts to finalize your condition. Once ready, click Transmit.

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Trading

How do I create a bracket order (OCA) for an existing position in TWS?

To create a bracket order for an existing position in TWS, add the OCA Group column via Layout settings. Then, create the orders you want to link and enter a common identifier in the OCA group field. Finally, transmit both orders.

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Trading

How do I close a worthless position?

To remove a worthless security position, account holders can use the Dollar for Lot process. MEXEM will take over the position for a nominal payment of USD 1.00. In TWS, eligible positions can be closed by right-clicking and selecting "Close" or creating a Sell order. Sign the Dollar for Lot Acknowledgement and transmit the order. Execution occurs from 4am-8pm EST, Monday-Friday. For positions without "(DOLLR4LOT)", a Special Position Liquidation Agreement is required. The form can be found on our website and should be submitted through the Upload Documents tool. Attachment size should not exceed 25MB.

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My Account & Login

How can I find all interest charges for a certain time period?

Account holders maintaining a long security position (e.g. stock or bond) that is worthless but has not yet been cancelled by the depository may submit a request to have that security removed from their account via a process referred to as Dollar for Lot...

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Trading

How can I create an Adaptive Algo order in TWS?

The Adaptive Algo can be used with a limit or market order, and is designed to achieve better than average cost efficiency over basic limit and market orders by attempting to trade market and aggressive limit orders between the spread. You can specify how urgently you want the order to fill using the "priority/urgency" selector in the algo window...

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Trading

Can I specify the exchange on which to execute in TWS?

When placing an order, you can choose SMART routing or select a specific exchange. SMART routing searches for the best available price and executes your order instantly. Selecting a specific exchange sends your order only to that exchange. If you direct-route a stock order, the exchange may cancel or re-price your order to avoid crossing the NBBO Bid/Ask market. Direct-routed orders may have higher commissions than SMART routed orders, depending on the product and order entry method. More details are on our website and the TWS User Guide.

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