Exness, a forex brokerage house regulated in Cyprus and the UK, has introduced new enhancements to its pricing model, which would results in a lower number of trades executed with slippage, according to a statement published on the broker’s website.
The broker did not disclose details as to what these enhancements were, but it noted that the final execution price will be more often than not the exact one desired by clients.
“The improvements we have developed will enhance execution speed, even during high periods of volatility — for example during news releases — reducing the number of trades experiencing slippage by as much as 88%,” the broker said in the statement.
The move is part of the broker’s agenda of trading improvements it will implement in the upcoming months. No details were provided.
The forex market is very dynamic and a 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 first available price (slippage), or rejected and the new price is returned to the trader for confirmation (requote).
Exness was set up in 2008 and has grown to become a global forex broker. It offers trading in more than 120 currency pairs via the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. The brokerage holds a license issued by the Cyprus Securities and Exchange Commission (CySEC) and recently obtained, through its unit Exness Europe, a license by the UK Financial Conduct Authority (FCA). It used to have a license from the Belize International Financial Services Commission (IFSC), but no longer does.
Group companies are also registered with the relevant regulatory bodies in Germany, the Netherlands, Poland, Spain, Italy, and Sweden.