We offer two types of order execution.
Instant execution
Orders are executed at the price shown on your order window in the terminal. When you place an order with Instant Execution and the requested price is not available, here's what happens:
- Rejected Requests for "Worse" Prices
If the new available price is considered "worse" than what you initially requested, your order will be straightforwardly rejected. This means that you won't be executed at a less favorable price than you intended.
Please note that you will not receive any notification; the order will simply not be executed.
- "Better" Prices for Clients
On the flip side, if a better price becomes available, your order will be executed at an improved price, ensuring that you get the most favorable outcome possible.
What Does "Better" or "Worse" Mean?
The terms "better" or "worse" are from the perspective of the client. If a price becomes more advantageous for you, it's considered "better." Conversely, if the available price goes against your initial request, it's deemed "worse." With Instant Execution, the focus is on giving you the best possible outcome based on your trading goals.
The order execution type on our Micro Account is instant execution.
Market execution
Orders are executed at the best current available price. No requote is given as the trade will still be executed at the best available price, even if it has changed from the price shown on the order window or requested price.
The order execution type on our Advantage and Advantage Plus is market execution.
Execution types explained
To better explain how each approach works, consider the order execution mechanism using the following example:
When a trader wants to buy EURUSD, they open a BUY position. Let's assume the trader's requested price is at 1.18000. This price may change during the processing, to either a higher or lower price. Let's say the price has changed to 1.18500
- For an instant execution account, the order will not be executed because the actual price of 1.18500 is "worse" for the client compared to the requested price of 1.18000.
- For a market execution account, the BUY EURUSD is executed immediately at the opening price of 1.18500 without asking the for trader's acceptance of the price change.
The table below summarises the differences between instant execution and market execution
| Instant Execution | Market Execution |
|---|---|
| No requote provided | No requote provided |
| Execution not guaranteed | Execution is guaranteed |
|
No risk of opening an order at a less favorable price |
Higher risk associated with market volatility and slippage |
| No limits on trading strategies but the instant execution model is not designed for scalping as requotes and longer execution time may detract from the experience |
Generally, no limits on trading strategies as scalping, hedging, news trading, and using EA as possible without a degraded trading experience |