In the world of online trading, FXPro has emerged as a market leader, setting standards in order execution and ensuring traders get the most optimal trading environment. This article looks deep into the core aspects of FXPro’s order execution mechanism and what makes it stand out in the crowded financial marketplace.

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Award-Winning Execution

FXPro’s No Dealing Desk Execution has received multiple accolades for its performance, further establishing its credibility:

• Best FX Provider 2021: Recognized by Online Personal Wealth Awards.
• Best Trading Platform 2020: Lauded by Financial Times & Investors Chronicle.
• Best CFD FX Provider 2021: Another feather in the cap from Online Personal Wealth Awards.

One might wonder, what’s behind these awards? The answer lies in FXPro’s commitment to efficient and lightning-fast trade executions. With an impressive record of over 199,397 orders filled in a single day, FXPro ensures that most client orders are completed in under a mere 13 milliseconds.

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Advantages of No Dealing Desk Execution

Deep Liquidity:

Access to profound liquidity pools means traders can always get the best available bid and ask prices for every trade.

Award-Winning Excellence:

The numerous awards FXPro has received reflect its technical sophistication, unbeatable trading conditions, and stellar service.

Ultra-fast Execution:

Time is of the essence in trading, and FXPro’s system ensures that client orders are processed at record speeds.

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Transparency in Trade Execution

FXPro’s trade execution method relies on an Execution Engine. This engine is the heart of the order process, connecting various platforms and the order book. Owing to the immense trade volume from FXPro’s clients, a large chunk of the order flow is internally matched. This is a key aspect that reduces risk and ensures there’s no interference with client orders.

The system is designed in such a manner that not all client positions are hedged. This results in a residual exposure, and any excess of this exposure might be hedged externally.

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Dispelling Common Misconceptions

Why FXPro is not an STP Broker: The term STP, or Straight-Through-Processing, is often misunderstood. It primarily refers to a post-trade communication process. While FXPro leverages STP technologies, it identifies as an NDD (No Dealing Desk) broker, ensuring client orders are executed without intervention.

Why FXPro is not an ECN Broker: ECN, or Electronic Communication Network, is another frequently misinterpreted term. ECN refers to anonymous communication between executing parties, which might lead to non-guaranteed fills and sub-optimal pricing for traders. FXPro, being a genuine No Dealing Desk Execution broker, ensures no such middleman interventions.

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2023 Stats: Shedding Light on Execution Efficiency

FXPro is transparent about its execution stats. In 2023:

• Over 86% of market orders were executed at the desired or even better prices.
• Just 1.88% of all instant orders were requoted, and astonishingly, 0.89% of these received a superior price for execution.

The Heart of Execution: Equinix Data Centres

The actual execution of your trades happens at FXPro’s state-of-the-art Equinix Data centres situated in LD4 London. These trading servers have a direct fiber connection with Tier 1 banks, ensuring swift and efficient liquidity provision via the proprietary aggregator, Quotix.

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An Overview of MT4 Order Execution Specifications

The MetaTrader 4 platform by FXPro offers various order types and specifications:

• Instant Orders: These are executed at the visible ‘ask’ or ‘bid’ prices.
• Market Orders: These utilize the Volume-Weighted Average Price (VWAP) for order fulfilment.
• Pending Orders: These include Stop Orders, Limit Orders, and Take Profit settings. Each has unique characteristics, such as the Stop Loss, designed to minimize losses, or the Limit Orders, which are activated when the market hits a predetermined limit price.

It’s also essential to understand concepts like Slippage, Re-quoting, and the use of Expert Advisors and high-frequency trading tools. FXPro’s MetaTrader 4 platform seamlessly integrates these functionalities, making it one of the most sought-after platforms for both novice and seasoned traders.

FXPro’s dedication to providing a seamless and efficient trading experience is evident in its execution model, infrastructure, and the numerous awards it has received. With its transparent operations and dedication to ethical practices, FXPro stands tall as a leader in the online trading realm. Whether you’re a beginner or a seasoned trader, FXPro’s superior order execution guarantees a smooth and efficient trading experience.

Ready to experience it for yourself? Start Trading Now or Try Demo Account.

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FAQs about FXPro’s order execution

What does “No Dealing Desk Execution” mean at FxPro?

It means that all client trades are executed without any intervention from the dealing desk. This ensures rapid execution, often in under 13 milliseconds.

How does the No Dealing Desk Execution benefit traders?

Traders get access to deep liquidity, ensuring the best available bid and ask prices. They can also benefit from ultra-fast order execution, with most orders filled in under 13 milliseconds.

How are client trades executed at FxPro?

Trades are executed without intervention at FxPro’s Equinix Data centres in LD4 London, with high volumes being internally matched. This minimizes risk without interfering with client orders.

Why doesn’t FxPro classify itself as an STP or ECN broker?

While FxPro uses STP technologies, they identify as NDD (No Dealing Desk) due to their method of order execution. FxPro is not an ECN broker because ECN can result in no guaranteed fills and potentially worse pricing for the retail trader, while FxPro guarantees no dealing desk intervention.

What were the slippage and requote statistics for FxPro in 2023?

In 2023, more than 86% of market orders were executed at the requested price or better. Only 1.88% of all instant orders received a requote, with 0.89% of them getting an even better price.

What are the different order types available on the FxPro MT4 platform?

Traders can place Instant Orders, Market Orders, Stop Orders, Limit Orders, and Take Profit orders. These can be modified or cancelled under certain conditions. Slippage and re-quoting practices apply as per market conditions.

What should traders be aware of regarding margins and overnight trades?

A lock or hedge position doesn’t require additional margin if your Margin Level is over 100%. When trades are kept open overnight, a swap/rollover cost or income is applied based on the overnight interest rate differential of the two currencies, FxPro’s commission, and the type of position.