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Instant execution vs. market execution

Forex trading accounts come in two flavours: instant execution or market execution. Understand the difference between instant and market execution, and why it matters.

Instant execution provides greater certainty of pricing than market execution, which may appeal if you are new to Forex trading. However, market execution provides greater certainty of execution and direct market access. Compare brokers with instant execution and those with market execution for more information.


Instant ExecutionMarket Execution
Certainty of pricing (no slippage) Certainty of execution (no re-quotes)
Access the market through a dealing desk Get direct market access with no dealing desk
Your broker acts as a market maker Your broker aggregates market prices
Your broker is your counterparty Your trades are anonymous.
Restrictions on trading often apply (enquire with your broker) Fewer to no restrictions on trades (EAs, scalping or news trading)

What is instant execution?

With instant execution, you receive the price that you see on the platform, as long as that price is still valid. When markets are volatile, that price may change. When this happens, your broker will quote the new market price. This is known as a re-quote.

What is market execution?

With market execution, you receive the prevailing market price at the time your order is executed. When markets are volatile, that price may a little different from the one you expected when you placed your order. This is known as slippage.

FXTM

Trade 45 currency pairs and CFDs on shares, indices and metals with market execution ... More

Risk warning ?

easyMarkets

Trade Forex and CFDs on metals, commodities and indices on tight fixed spreads from a... More

Risk warning ?

AvaTrade

Trade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, ind... More

Risk warning ?

HotForex

Trade Forex as well as CFDs on cryptocurrencies, shares, indices, metals and more on ... More