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Online forex broker FxPro said on Wednesday trades with positive slippage continued to dominate, increasing 3.5% over the quarter in the January-March 2016 period, while those with negative slippage went down by a quarterly 9.4%. About 47% of all trades had positive slippage in the first three months of the year, compared to 37.5% a quarter earlier.
Full 31.81% of the trades executed by the broker were at quote, meaning they went through at the asked price, and the remaining 21.26% had negative slippage. A quarter earlier, at quote trades accounted for 37.7% and negative slippage trades made up 24.8% of all.
Meanwhile, requotes went down over the quarter to 5.01% in the period under review from 5.95% in the last three months of 2015. The majority of them, or 2.78% of all trades, had negative requotes, and the remaining 2.23% were positive.
Slippage | Requote | |||||
Positive | Negative | At Quote | Requotes (total) | Positive | Negative | |
Q1 2016 | 46.93% | 21.26% | 31.81% | 5.01% | 2.23% | 2.78% |
Q4 2015 | 37.5% | 24.8% | 37.7% | 5.95% | 2.99% | 2.96% |
Q3 2015 | 43.4% | 17% | 39.6% | 4.5% | 2.8% | 1.7% |
“It has been a year since we took the initiative to systematically publish our execution statistics. The purpose of this move remains twofold: to provide traders with valuable information about our standards of service, and to encourage greater transparency in the FX industry,” FxPro CEO Charalambos Psimolophitis said. “It is pleasing to see positive developments gradually taking place, as is to observe the continuous improvement of the quality of trade execution we offer,” he added.
Slippage is the difference between the asked price and the actual price at which an order was closed. Requotes are delays in the technical execution during an order, caused by the difference in the price a trader enters and the price at which the order reaches the broker. The market could be quite dynamic and the broker may not always be able to execute an order instantly at the asked price. In such case, an order is either executed at the next best price, or rejected and returned (requoted) to the broker.
FxPro is the collective brand name of companies registered and regulated in Cyprus and the UK by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA), respectively. It offers complete services for all segments of the retail forex market, as well as trading with futures, indices, metals, shares, and contracts for difference (CFDs).
The broker offers trading via the FxPro SuperTrader trading platform, the desktop and mobile versions of the MetaTrader 4 (MT4) MetaTrader 5 (MT5), and cTrader, as well as the web-based versions of MT4 and cTrader.
Source: FxPro