Currenex / Viking reversing positions?

R1234

R1234

I am going to start trading an account using the Viking platform and I had a quick question.

Let's say I have a position of short 100,000 Euros and I now I want to be long 200,000 Euros. Would I enter an order to Buy 300,000 Euros? I used to do this in the past at Oanda and the netting was done automatically - very simple. But on Currenex/Viking I notice I end up with a short position of 100k Euros and a long position of 300k Euros simultaneously.

Do they net the positions at some point? It would be a pain for me to have to close out the old position and initiate a new position - an unnecessary extra step that takes up time.

I'm still new to Currenex/Viking and maybe I am missing something. Any thoughts would be appreciated.
 
Quote from R1234:

I am going to start trading an account using the Viking platform and I had a quick question.

Let's say I have a position of short 100,000 Euros and I now I want to be long 200,000 Euros. Would I enter an order to Buy 300,000 Euros? I used to do this in the past at Oanda and the netting was done automatically - very simple. But on Currenex/Viking I notice I end up with a short position of 100k Euros and a long position of 300k Euros simultaneously.

Do they net the positions at some point? It would be a pain for me to have to close out the old position and initiate a new position - an unnecessary extra step that takes up time.

I'm still new to Currenex/Viking and maybe I am missing something. Any thoughts would be appreciated.
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And pay extra in spreads ...
 
Quote from Peternam:

And pay extra in spreads ...
More...

I don't think there's any difference in cost between the 2 methods (reversing/netting versus manual close out+new initiation).

In the first case you're buying 300,000 Euro in one shot. I will pay $30 for the spread assuming it's 1 pip wide, plus my broker charges commission of $30.00 per Million USD transacted which is about $7.00 prorated for my lot size in this example. So the total cost is $37.00.

In the second case I will close out the 100k Euro short for a total cost of about $12 and initiate the long 200k Euro for a total cost of about $25. So the overall cost again comes out to $37.00.

For me the main issue is the inconvenience of having to do a manual close out and new initiation because I often reverse from long to short and vice versa.
 
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