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.


FxPro

MT4 Floating - Instant Execution

Trade 70+ currency pairs, spot indices, energies, metals and shares on floating spreads and instant ... More

  • $500 deposit
  • 1:500 leverage ?
  • 1.71 pips EUR/USD
79.78% of retail CFD accounts lose money

AvaTrade

AvaTrade Account [BVI]

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

  • $100 deposit
  • 1:400 leverage ?
  • 0.9 pips EUR/USD
79% of retail CFD accounts lose money

FP Markets

Standard ECN Account [MT4]

Trade over 50 pairs of currencies as well as CFDs on metals, indices and commodities through MT4 ... More

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

AvaTrade

Professional Account [EU]

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

  • $100 deposit
  • 1:400 leverage ?
  • 0.6 pips EUR/USD
79% of retail CFD accounts lose money