Dear Members,
Traders can utilize the Close By function to simultaneously close out two opposing positions of the same financial instrument. In situations where the two positions have different lot values, only one will remain open, with its volume equivalent to the disparity between the two lots. However, the direction and open price of the remaining position will be identical to the larger position. Compared to closing out each position individually, the Close By feature allows traders to save on one spread: when closing out positions separately, the trader incurs two spread costs - selling at Ask and buying at Bid. Conversely, with the Close By function, the open price of the second position is used to close the first, and the second position is terminated at the open price of the first.
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