Tatiana Dementieva
When choosing a Forex broker, one of most significant parameters is the speed of order execution. The quicker the company processes clients’ orders, the higher the chances are that the trader will enter the market with the posted price. And some hedge funds have staff members that specialize on execution of orders, i. e., bring them to the market at the price, claimed by the client.
How can an average trader get such advantage and enter the market with the price he/she has claimed? And, what speed of execution is generally supposed fair for effective trade at Forex? These and some other important questions on trading have been discussed in the exclusive interview of the “Market Leader” with representatives of a well-known international broker company HiWayFX.
Speed of Order Execution as Factor of Trader’s Success at Forex
“By all means, any trader wants his orders to be fulfilled as soon and as accurately as possible,” says HiWayFX. In other words, he/she wants to enter the market immediately at posted price with no slippings, requotes, or delays. Unfortunately, not all companies can provide such level of service. “Kitchens” are out of the question here, as they do everything in diametric opposition to what their clients need.
Today there exist technologies allowing to process orders in the average of 0.03 seconds (owing to own unique developments our company has reached the speed of 0.02 seconds), which, certainly, enables traders to enter the market at posted price. Although, not always.
For example, at high market volatility or during important news issues even such speed does not help (broker simply fails to open a position at the posted price), so there happen slipping and requotes, the size of which sometimes varies by tens of points from the posted price. For this reason such situations are considered one of most risky at the market, and many brokers forbid trade while they occur.
Generally, according to statistics, average order execution takes 60-65 milliseconds in most brokers. And in the industry in general – 500 milliseconds. It is quite long time even for a more quiet market. Especially, if a trader has small Internet speed.
However, even if Internet speed is quick, and a broker fulfills your order in 0.03 seconds, you can never be absolutely sure that your position will open at posted price. Why? Besides the abovementioned reasons, if to take tranquil market, everything depends on type of company’s execution.
Today there are two main types: Instant Execution and Market Execution (which HiWayFX works by). The first type is characterized by the fact that a broker either fulfills your order at posted price, or does not fulfill it at all. This is handy for scalpers, for whom literally every point has a value, and consequently, speed of fulfillment is very important.
Another type – Market Execution – guarantees execution of your order in any case. However, here price may prove worse or better than the one claimed by a trader. This type of execution is suitable for those trading on more lasting timeframes than scalpers, in short-term or long-term perspective, and who is ready to lose several points, but maintain the position, perspectives of which he/she finds profitable. This reminds a game of chess, when you sacrifice pieces in order to provide safety to more important figures, which can bring you victories in the game.
Advantages of Work With HiWayFX
According to the “Market Leader” interviewee, HiWayFX offer best speed of processing orders in the industry – up to 0.02 seconds. Such result became possible owing to application of the broker’s own exclusive developments. Consequently, traders get market entrance (on condition of quiet trend) without slipping and requotes, without absolutely any delays, and positions are opened at prices claimed by them.
If trade is effected during news issues or at high volatility, at such speed of execution clients of HiWayFX have the smallest in comparison to other companies risk of slipping.
Owing to such instant speed of processing orders every client of HiWayFX also gets some other advantages of work with the broker. Particularly:
– work at interbank market with leading providers of liquidity at best current prices at the market;
– work on the basis of ECN technology, which bring orders directly into interbank, thus reducing spreads and commission fees;
– work on the basis of No Dealing Desk (NDD) system of order execution, without intervention of a dealer when there is no conflict of interests for brokers and traders, as well as no requotes and delays in order execution;
– wide choice of trading accounts, designed for any category of traders, from beginners to professionals, including NDD, demo-accounts, accounts for automated trade and copying signals of best traders of the industry, without charging swaps, etc.;
– microlots available on all trading accounts;
– one of lowest commission fees and spreads at the market at credit leverage up to 1:1000;
– minimal deposit for trade from 20 dollars;
– a great number of highly liquid trading instruments: currency pairs, indexes, precious metals, energy resources, etc.;
– rebates at 15 dollars per lot;
– various programs stimulating to effective trade, including bonuses, special offers, contests, and studying projects;
– unique complex affiliate program, allowing you to earn by means of trade of other traders, without own investment and, consequently, without risk.
“All these and many other advantages of work at Forex with our company are described in details on our official web site. And owing to instant speed of processing your orders they increase, thus allowing to open positions with maximal accuracy and profitability even at market fluctuations,” concluded representatives of HiWayFX.
◦I never stand if there is an opportunity to sit, and I never sit if I have an opportunity to lie. (H. Ford)
Tatiana Dementieva
