4. Main Interface

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The main interface consists of a persistent side panel and a main panel. The side panel hosts the user profile and acts as a control panel along with the menu.

The actions such as placing orders are executed using extra windows that pop up and close after actions.

3.1 Side Panel

The side panel consists of the following: profile, watchlist, open orders and open positions. The side panel doesn’t change with the contents of the main panel. It expands toward the bottom to accommodate extra data.

3.1.1 Profile

The profile section shows an avatar picture, the username, the balance in Cloak coins, deposit and withdraw buttons, the number of messages in the inbox, settings and a conversion button to show the balance in USD. Finally there is a button to logout.

3.1.2 Open Orders

This is a list of open limit and take profit orders of the user. The main screen shows max of 5 orders ordered by date and a link to the main open orders page lists all open orders.

3.1.3 Open Positions

This is a list of open positions, i.e. currently owned assets. The main screen shows max of 5 positions ordered by date and a link to the main open positions page listing all open positions.

3.2 Main Panel

The main panel hosts all the data that is displayed to the user. It consists of social trading and forex markets.

WATCHLIST
Watchlist is a sub menu of the trading menu. This menu’s aim is track the most tracked currencies. This section contain currency’s name symbols, buy and sell button which is actually updated with simultaneous prices. Also there is a x symbol to remove that currency from the watchlist.

ORDERS
When order section is clicked, there are two type of title into there which are open orders and open positions.

OPEN ORDERS
• This title is listed buy limit orders and sell limit orders. This orders set for open the position on limit price and leaved for limit price is going to happen.
• Trader can abort limit orders if open order did not turn to open position.

POSITIONS
Open postions
• This title shows trader actual situation of positions.
• Trader can reach under this section to actual copied or manually opened positions.
• If trader choose one of them, pop-up screen will screened for manage selected position.
• Aggregate option is summed up all the same multiple positions to one summarize position that will show to us a current profit or current loss.

POSITION HISTORY
• This section screens a terminated positions.
• If trader choose one of the terminated positions, there will be a pop-up screen with details of terminated position.

COPIED TRADERS
• There is a copied traders and informations which are maximum position limit of a day and determined budget for a per position to copy.
• If investor decide to multiple copy trade, investor can easily manage the situation of copy decisions.

TRANSACTION
• This section is look like a book of account.
• There is all movement of the values registration.
• There are the register of
• Deposit
• Withdraw
• Fee_withdraw
• Order_create
• Order_cancel
• Position_copy
• Position_close
• Copy_fee
• Copy_reward
•  Referral
• For watch all of them, there is a show all section also in there.

3.2.1 Social Trading

The social trading panel is an area where traders can find and follow other successful traders. There is the “Popular Traders” area that shows traders with the most followed positions. The main area shows the top 5 and there is another page for the top 25.

The “Successful Traders” area shows the trades with the best performances over a calendar month. Again there are two areas of 5 and 25. Performance is calculated in the following way. For each closed position a percentage profit is computed. Without paying attention to the quantities of these positions these profit percentages are summed. For example, a trader that has closed three positions with 50%, 60% and 70% has a performance score of 180%.

The “Discussed Trades” area shows the most 5 most discussed trades of the entire platform. The discussion is based on each position. It is possible to leave a comment for each position and score the comments.

3.2.1.1 Copy Trade

CloakFX allows users to follow other traders by copying their trades. The followed trader will get a portion of the successful trades copied this way. Each trader has the capacity to create trades that can be copied as long as they are above a threshold ($250). Following happens daily for 24 hours, until cancelled. A day starts at 00:00 GMT + 3 and finishes in 24 hours. A trader has to explicitly indicate that a trade is shared. Only trades above the threshold of $250 can be shared.

A user can follow an unlimited number of traders and similarly a trader can have unlimited amount of followers. A follower has to indicate the following to start following. A daily upper limit of trades (such as 10) and a per position value (such as $100) will be given. This will block a total of $1000 from the followers account.

For each position copied, a fixed percentage (7% from profits) will be given to the original trader that opened the position.
%5 of profit is the cut for copy-sharer and %2 of profit is the cut for platform fee.

3.2.1.2 Trade Discussions

For each trade there is a discussion area in the details section. Users can comment on a specific trade with their username. Comments date and time is also saved. It is possible to rate a users comment by clicking the up or down buttons.

3.2.2 Markets

This screen lists all available markets. For each market, buying and selling prices are listed. It is possible to add any pair to the watchlist by clicking a star next to its name. To open trade on a selected pair, users must click on either the long or the short price button beside the pair name.

3.2.2.1 Trades

Trade orders are entered through the trade box. These entered fields are the following: amount, leverage, order type, share trade, stop loss, take profit and limit order if the user decides to open the order with a limit.

• Amount is the decided value for a new position.
• Leverage is a tool for expanding the position budget. You can either use a slider or a textbox to enter the value.
• There are two order types depending on the direction of the oder. Long (buy) and short (sell). If the user has the opinion that the currency will gain value, the users position has to be long. The opposite condition is short.
• The trader has the option to share this trade if the amount is equal to or larger than $250. By clicking a checkbox the position can be shared.
• Stop loss box is for automatically closing a position based on a target level. If the price increases or decreases to the stop loss price, the position will automatically close. Stop Loss converges to the actual price from below or above.
• The take profit box is for putting a limit for ending a position with a profit. It is a box for determining the price to declare.
• There are two types of orders market orders and limit orders.
• Market order is a function for opening an order at the actual price.
• Limit orders are for opening positions at determined price levels.

3.2.2.2 Trade Details

For each trade, there is a detail screen, where the trade can be inspected.

• Each trade has unique trade ID.
• Trade status shows whether the trade is still open or is closed.
• Entry price, exit price ( if the trade is still open, it is shown as blank), stop loss ( if no stop loss set, shows “Not Set”), take profit ( if take profit is not set, shows “Not Set”)
• Creation and closing date
• Pair name
• Profit and loss percentage ( depending on whether trade is making or losing money)
Leverage of the position
Position direction (long and short)
Trade performance graph (it shows positive (profit) and negative (loss))
Comment box section

 

3.2.2.3 Spreads

Spread is a difference between long and short prices. If the user decides to go long on a specific pair, the trade will be opened based on the long price and closed on short priced. The short and long prices are created from the forex pair price retrieved from 1Forge. The data will be split to two values based on the spread and long and short prices will be created. The spread table is below.

 

PAIRSPREAD MAX LEV
AUD/NZD0,0002200
AUD/USD0,0001200
EUR/AUD0,0002200
EUR/CAD0,0003200
EUR/CHF0,000275
EUR/GBP0,00018200
EUR/JPY 0,014200
EUR/NOK 0,00550
EUR/SEK0,002850
EUR/TRY0,0077220
EUR/USD0,0001200
GBP/USD0,0002200
NZD/USD0,0002200
USD/CAD0,0002200
USD/CHF0,000175
USD/CNH 0,00150
USD/JPY0,01200
USD/MXN 0,00650
USD/TRY0,0055220
USD/ZAR0,0381620

3.2.2.4 Overnight Financing Fees

If a trader wants to hold their position overnight (GMT+3) then overnight financing fees will be charged based on the total amount of orders opened.

Overnight financing fee is 0.0194%. If a user uses leverage as 1 then no fees will be charged. If the user had 100 leverage then overnight financing fee is 0.0194% x100 = 1.94%. If a user has 200 leverage then overnight financing fee is 0.0194% x200= 3.88%. So basically overnight financing fee is 0.0194% x leverage.

For example overnight financing fees paid for a 250 USDC open trade for 100 leverage is 250 x 0.0194% x 100 = 4.85 USD. This is charged as a platform fee and deducted from the users total balance directly, not from trade balance. If user has no balance then this fee will cause minus balance until the opened position is closed. Overnight fee is charged triple times at Tuesday nights, on day closing times, but from Friday night to Monday day start it is charged as one day.

3.2 Support Pages

There are a number of static support pages such as fees, calculations and help.

3.3 Menus

The menu consists of Markets, Trading, Contact and Help & FAQ. For logged in users, there are the following options under Trading: Watchlist, Orders, Positions, Positions History, Copied Traders, Copied Traders, Transactions. Also Social is added to the main menu.

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