There are two ways of foreign exchange trading: instant trading and pending orders. If it is an instant transaction, the order that has been successfully opened cannot be cancelled. If it is a pending order, you can apply for cancellation on your platform.

Open position of trading software. After determining the currency pair of the transaction, the trader should establish an order on the trading software, which is what we often call a position. Once the exchange rate reaches the expected price of the trader, the position can be closed, that is, the position can be closed.