Any order or group of orders can be canceled once they are created, as long as they are in pending status. The cancellation option lies in the popup window when right-clicking on any order, or after having selected a group of orders. Cancellations are also possible from the chart directly, provided the chart trading option is enabled. Partial position cancellations are not possible. Order cancellation can either automatic, or manual.

Cancellation Mode

Order cancellation can be performed by the trader, or by the system. The system cancels orders when the margin requirements are no longer satisfied. Also, the system cancels automatically the associated orders to a position, when this latter is closed; in that case, any associated order to the position is cancelled as the position is closed. The example below shows a position closed by a take profit order execution. The cancellation of the stop loss order originally associated to that position is reported in the trade log. In case a position with associated orders is closed meanwhile, both associated orders are canceled at the time the position is closed.

09:57:54 Order FILLED at 1.30185 USD (#45509623 TAKE PROFIT BUY 0.5 mil. EUR/USD @ LIMIT 1.30185 IF ASK <= 1.30185) - Position #9484066
09:57:53 Position 9484066 STOP LOSS #45509622 price stop changed from 1.3033 USD to 1.30275 USD
09:57:44 Position 9484066 TAKE PROFIT #45509623 price stop changed from 1.3013 USD to 1.30185 USD
09:57:35 Order FILLED at 1.3021 USD (#45509621 SELL 0.5 mil. EUR/USD @ MKT) - Position #9484066
09:57:35 Position 9484066 TAKE PROFIT #45509623
09:57:34 Order ACCEPTED: #45509623 TAKE PROFIT BUY 0.5 mil. EUR/USD @ LIMIT 1.3013 IF ASK <= 1.3013 - Position #9484066
09:57:34 Order ACCEPTED: #45509622 STOP LOSS BUY 0.5 mil. EUR/USD @ MKT IF ASK => 1.3033 - Position #9484066
09:57:34 Order sent: TAKE PROFIT BUY 0.5 mil. EUR/USD @ LIMIT 1.3013 IF ASK <= 1.3013
09:57:34 Order sent: STOP LOSS BUY 0.5 mil. EUR/USD @ MKT IF ASK => 1.3033
09:57:34 Order sent: SELL 0.5 mil. EUR/USD @ MKT

Processing

Cancellation of a single order with no orders associated

08:31:23 BID CANCELLED #38153275 reason: BID CANCELED BY USER
CANCELLING: #38153275 PLACE BID 0.5 mil. AUD/JPY @ 71 EXPIRES: GTC

Cancellation of a single order with orders associated

The orders associated are highlighted when selecting the base order. As the orders associated are of the IFD type (If done), their cancellation is not disclosed.

08:33:49 BID CANCELLED #38153340 reason: BID CANCELED BY USER 
CANCELLING: #38153340 PLACE BID 2.5 mil. AUD/JPY @ 73.25 EXPIRES: 2010-07-08 09:29:59

Cancellation of a group of orders by selection

All orders selected will be canceled, not only the highlighted one.

2010-07-08 08:42:33 Order CANCELLED: #38154686 ENTRY BUY 1.5 mil. AUD/JPY @ LIMIT 74.65 IF ASK <= 74.65 - Position #9010663 
2010-07-08 08:42:33 Order CANCELLED: #38154774 ENTRY SELL 1.5 mil. AUD/JPY @ LIMIT 73.175 IF ASK <= 73.25 - Position #9010675 
2010-07-08 08:42:33 Order CANCELLED: #38154585 ENTRY BUY 0.5 mil. AUD/JPY @ LIMIT 75.75 IF ASK <= 75.75 - Position #9010650 
2010-07-08 08:42:33 Order CANCELLED: #38154857 ENTRY SELL 1.5 mil. AUD/JPY @ LIMIT 72.07 IF BID <= 72.12 - Position #9010686 

CANCELLING: #38154686 ENTRY BUY 1.5 mil. AUD/JPY @ LIMIT 74.65 IF ASK <= 74.65 
CANCELLING: #38154774 ENTRY SELL 1.5 mil. AUD/JPY @ LIMIT 73.175 IF ASK <= 73.25 
CANCELLING: #38154585 ENTRY BUY 0.5 mil. AUD/JPY @ LIMIT 75.75 IF ASK <= 75.75 
CANCELLING: #38154857 ENTRY SELL 1.5 mil. AUD/JPY @ LIMIT 72.07 IF BID <= 72.12

Messaging

Any order cancellation is reported and recorded in the messages log, the activity log and the trade log accordingly if appropriate. The cancel instruction sending is acknowledged by the label “cancelling”, it must be followed by the confirmation of the cancellation, as “Order cancelled”, the order identification number, and the characteristics of the order cancelled, as well as the position identification number associated to the order. Below is an example of a selection of seven orders cancelled in a row. If the confirmation of the cancellation is not received, or is not received immediately, the clients must contact Dukascopy Bank SA in order to check the status of the cancellation instruction.

Cancelled orders disclosure

09:13:49 Order CANCELLED: #37885711 ENTRY SELL 5.5 mil. USD/CAD @ MKT IF ASK <= 1.0586 - Position #8952452 
09:13:49 Order CANCELLED: #37885410 ENTRY BUY 120 mil. EUR/JPY @ MKT IF ASK => 109.975 - Position #8952403 
09:13:49 Order CANCELLED: #37885377 ENTRY BUY 10 mil. USD/CHF @ LIMIT 1.0695 IF BID => 1.0695 - Position #8952396 
09:13:49 Order CANCELLED: #37885645 ENTRY SELL 5 mil. GBP/NZD @ LIMIT 1.99915 IF BID <= 2 - Position #8952439 
09:13:49 Order CANCELLED: #37885325 ENTRY BUY 10 mil. USD/CHF @ MKT IF BID => 1.0697 - Position #8952387 
09:13:49 Order CANCELLED: #37885759 ENTRY SELL 5.5 mil. USD/CAD @ LIMIT 1.0252 IF ASK <= 1.0252 - Position #8952457 
09:13:49 Order CANCELLED: #37885441 ENTRY BUY 120 mil. EUR/JPY @ LIMIT 110.105 IF ASK => 109.985 - Position #8952406 

CANCELLING: #37885711 ENTRY SELL 5.5 mil. USD/CAD @ MKT IF ASK <= 1.0586 
CANCELLING: #37885410 ENTRY BUY 120 mil. EUR/JPY @ MKT IF ASK => 109.975 
CANCELLING: #37885377 ENTRY BUY 10 mil. USD/CHF @ LIMIT 1.0695 IF BID => 1.0695 
CANCELLING: #37885645 ENTRY SELL 5 mil. GBP/NZD @ LIMIT 1.99915 IF BID <= 2 
CANCELLING: #37885325 ENTRY BUY 10 mil. USD/CHF @ MKT IF BID => 1.0697 
CANCELLING: #37885759 ENTRY SELL 5.5 mil. USD/CAD @ LIMIT 1.0252 IF ASK <= 1.0252 
CANCELLING: #37885441 ENTRY BUY 120 mil. EUR/JPY @ LIMIT 110.105 IF ASK => 109.985