CySEC-regulated forex broker easyMarkets has updated its dealCancellation tool which allows clients to buy ‘protection’ against losing deals after opening them and have their original investment refunded.
dealCancellation now allows traders to ‘undo’ their trades within different durations, from 1, 3 to 6 hours. The tool incurs a fee of a few pips, based on market volatility, once the deal is opened. When faced with a losing position, it provides the trader with ability to back out of this trade, losing no more than the premium he paid, while allowing him to gain from any positive price movement.