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Forex Broker with the Fastest Order Execution Speed - 2023 Ranking
The ping or speed of order execution can be of crucial importance for Forex and CFD trading.
Why do I need to know the “order execution” speed?
There are thousands of online Forex and CFD brokers in the world, each one with its own characteristics and management policies. Both experienced and novice trader is always looking for the broker best suited to their style and needs. Advantageous promotions, low commissions, type of platform, are some of the features that online brokers use to attract the attention of customers, but there is one that in particular arouses considerable interest, namely the “Speed of execution of the orders”. Most online brokers, by listing their characteristics, particularly highlight this essential feature offered.
The “Order Execution Speed” is in fact an essential element in the execution of orders for Forex and CFD positions on trading platforms of any kind. It can be defined simply as the time taken from the moment a certain order is placed until it is executed by the broker or liquidity providers. Consequently, any trader, before other trading services or tools, is obviously looking for a broker who offers faster order execution.
High order execution allows traders to place more profitable orders:
- Less slippage
Slippage refers to orders that are executed at a price other than the requested price because market fluctuations have changed that price while the order was being executed. - Less waste
An order can be rejected (not executed) for several reasons: when the limit price is too high or too low compared to the last traded price, because the amount of slippage has exceeded the limit set by the broker, the order does not meet the required requirements (quantity, availability of funds). - Fewer re-quotes
The broker is unable or unwilling to trade based on the price entered by the trader. In practice they are orders that come back and demand the execution of another market price because the requested price does not exist.
In summary it can be said that it is extremely important to know the speed of execution when choosing the broker with which to trade your capital.
Ranking of the speed of execution of orders on the Forex market
The next table will list some of the online Forex and CFD brokers that offer exceptional order execution speed. Note that the numbers shown refer to the official data published by each broker.
| Online Forex and CFD Brokers | Order Execution Speed |
|---|---|
| IC Markets | From 0.001 second |
| HYCM | 0.012 seconds |
| JustForex | 0.01 seconds |
| Land-FX | Less than 0.035 seconds |
| InstaForex | From 0.05 seconds |
| Valutrades | 0.05 seconds |
| Tickmill | 0.15 seconds on average |
| FBS | Less than 0.4 seconds |
| XM | Less than 1 seconds (99.35% of all orders) |
| FXTM | Milliseconds in Speed of Execution |
The table shows that the “Order Execution Speed” of Forex brokers varies from 1 millisecond, which is 0.001 seconds, to about one second. Differences may seem small, seemingly insignificant, but in forex trading every moment is crucial.
The speed of Forex execution depends on many factors
Although the proposed table above shows the numbers officially published by brokers, this does not necessarily mean that these standards are valid for all traders.
The “Order Execution Speed” of the Forex and CFD market can be affected by many factors, such as:
- The position of the trader
- The speed of the Internet connection used
- The specifications of the device (PC, mobile phone, tablet, etc.)
Therefore, the execution times shown in the table refer to the broker’s response speed, but not as the exact time in which orders will be executed. For example, the broker chosen for trading could argue that the average order execution speed is 0.001 seconds, but considering the facts the throughput could be 1 second.
To trace the actual execution speed of the broker selected on the trader’s device in real time, it is possible to use some techniques.
How can the Forex execution speed be found?
The most popular Forex trading platforms in the world, MT4 (MetaTrader4) and MT5 (MetaTrader5) give every trader the opportunity to know the “ping” , that is the connection speed of the server to which it connects the platform.
When you connect to a network host, such as a server, you send and receive data packets. By definition, ping (acronym for Packet Internet Grouper), is the time it takes for data to reach its destination from the moment it was sent. Then the “ping” will show the actual “Order Execution Speed” of your account.
In order to verify his “ping”, the trader will have to click on “File” and “Open an account” as indicated below.
In the newly appeared screen it will be possible to choose the desired trading servers.
There is also the possibility of being able to search the servers of the trusted broker by searching by name or by IP address.
As in the picture, the “ping” in real time will be shown on the right of the screen.
The trader keen to compare various execution speeds will be able to take advantage of an unlimited number of trading servers available. Attention, the “ping” may be different depending on the location of the server, even if the broker is the same.
For example, XM has a number of trading servers. Typically, each XM account is assigned to a particular server, but an analysis of the available ping might show small differences depending on the server.
In some cases the differences in execution speed could be much more evident, this problem occurs when the broker uses servers located in different places. We advise traders looking for an online Forex and CFD broker to trade with, to carefully check ping and execution speed before making any decisions.
