You are on page 1of 7

FMX Trading Tutorial for IMVU

Using an exchange can be a bit overwhelming initially, but it’s not that hard on you get used to it, and definitely well worth the savings. We hope this tutorial helps. :) If you have any suggestions on how we can improve the tutorial, please tell us at feedback@firstmetaexchange.com. ### ###

Contents
Click to access the relevant sections.

Section 1: Selecting a currency pair .............................................................................................................. 2 Section 2: Understanding the open order tables and exchange rates ......................................................... 3 Exchange rates in IMVU terms… ............................................................................................................... 3 Section 3: Placing an order, market and limit orders ................................................................................... 4 Example 1: Buying 100,000 credits at the best price available now ......................................................... 4 Example 2: Buy 100,000 credits at 2250 IC/USD or better ....................................................................... 5 Example 3: Sell 100,000 credits at the best price available now .............................................................. 6 Example 4: Sell 100,000 credits at 2195 IC/USD or better ........................................................................ 7 A note about floating exchange rates:...................................................................................................... 7

Page | 1

The currency code for IMVU credits is IC.Section 1: Selecting a currency pair Click on the Exchange tab. You will see a list of currency pairs for all the currencies that are traded on the exchange. Figure 1: Currency pair table Page | 2 . select USD-IC or EUR-IC. To buy or sell IMVU credits.

he will pay 50. From Sell IC table: There are… 20.000 credits.   The Sell IC table shows the quantity and exchange rates of credits available for sale.000 / 2199 = 45. Orders that have already been filled do not show up on the open order tables.730 credits for sale at 2183 IC/USD … and so forth. this means that he will receive 1 USD for every 2199 credits that he sells.334 credits at 2200 IC/USD 19. From Buy IC table: People are willing to buy… 26.73 USD Page | 3 . he will receive 100. They show the orders that are currently available on the market.Section 2: Understanding the open order tables and exchange rates Once you select a currency pair.000 / 2200 = 22.890 credits at 2210 IC/USD 70. Exchange rates in IMVU terms… Selling credits If a user sells at the rate of 2199 IC/USD. If he buys 50.000 credits for sale at 2190 IC/USD 5.000 credits. this means that he receives 2200 credits for every 1 USD that he pays. If he sells 100.000 credits for sale at 2199 IC/USD 100.48 USD Buying credits If a user buys at the rate of 2200 IC/USD. you will see these tables at the bottom of the page: Figure 2: Open order tables These are the open order tables. The Buy IC table shows the quantity and exchange rates of credits that others wish to purchase.000 credits at 2250 IC/USD … and so forth.

100. Example 1: Buying 100. trades will be filled when the seller’s rate is at least 5 IC/USD more than the buyer’s rate. which means that First Meta makes 5 credits for every USD that is successfully traded. Page | 4 . Recall the sell IC table earlier: Figure 3: Order form . market and limit orders The exchange works by matching up orders between buyers and sellers. Best seller offer: 2200 IC/USD Best buyer offer: 2198 IC/USD Trade is not filled and gets queued up on the open order table. 1 The spread is First Meta’s revenue for providing this service. If for example the spread is 5 IC/USD. market order Thus.53 USD 45. you will not need to do the calculations as the exchange estimates the cost for you. best possible price first.Section 3: Placing an order.000 / 2199 / 2190 = = 9.000 credits at the best price available now A market order helps you find the best price currently available in the market and is often filled immediately. Best seller offer: 2200 IC/USD Best buyer offer: 2195 IC/USD Trade is filled.09 USD 36.Buy 100K credits. It is essentially the difference between the buy and sell prices.) We will see how this works by examples.000 credits will cost approximately: + 20. A match happens when a buyer and seller can agree on a price (taking into account the spread1.000 80. In the following examples. assume the spread is 0.62 USD However.

the order will get queued up in the Buy IC table. 100.000 credits will cost a maximum of: 100. Page | 5 . he may place a limit order which fills the trade only at the specific rate or better. limit order 2250 IC/USD If the buy wishes to get a better rate and is willing to wait a little longer.000 credits.Example 2: Buy 100.000 / 2250 = 44.Buy 100. Thus.000 credits at 2250 IC/USD or better Figure 4: Order form . he wishes to get no less than 2250 credits for every USD he’s paying. In this example.44 USD Since no seller is currently willing to accept this rate yet.

000 IC.334 / 2200 19.890 /2210 53.000 credits will yield approximately: + + 26.00 23. 100.Sell 100.97 9.000 credits at the best price available now Figure 5: Order form . market order Recall the Buy IC table earlier: Thus.87 USD USD USD USD Page | 6 .776 / 2250 = = = 11.90 44.Example 3: Sell 100.

### ### Think this tutorial can be better? Tell us at feedback@firstmetaexchange. the order will get queued up in the Sell IC table.000 / 2195 = 45. A note about floating exchange rates: On a liquid exchange. which means prices fluctuate from second to second.Example 4: Sell 100.56 USD Since no buyer is currently willing to accept this rate yet.Sell 100.com. This way. Page | 7 . limit order 2195 IC/USD 100.000 credits will yield a minimum of: 100.000 credits at 2195 IC/USD or better Figure 6: Order form . One way to establish more certainty is to place limit orders instead of market orders. However.000 IC. even from the time the order is submitted to the time it is executed. Thus is it impossible to give an exact quote. we will execute the trade only at your rate or better. trades are constantly being filled. the actual exchange rate executed generally will not deviate too much from the estimated.