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.


LQDFX

Gold Account [Islamic]

Trade up to 71 currency pairs as well as CFDs on metals, commodities and indices through MT4. STP ... More

  • $20 deposit
  • 1:300 leverage ?
  • 1.1 pips EUR/USD

AvaTrade

Islamic Account [BVI]

Trade a wide range of financial instruments with a Shariah compliant account. AvaTrade does not ... More

  • $100 deposit
  • 1:400 leverage ?
  • 1.9 pips EUR/USD
Risk warning ?

HotForex

Islamic Account

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

  • $100 deposit
  • 1:500 leverage ?
  • 1.2 pips EUR/USD

eToro

Islamic Account [EU]

Trade 47 currency pairs, crypto-currencies, popular stocks, indices, gold and silver with no ... More

  • $1000 deposit
  • 1:30 leverage ?
  • 3 pips EUR/USD
Risk warning ?