Forex Brokers with Market Execution

Compare Forex and CFD brokers that provide market execution, with no re-quotes, USA.

What is Market Execution?

With market execution, your orders are executed at the then prevailing market price, without re-quotes. This provides certainty of execution, albeit with some uncertainty surrounding the ultimate execution price.

This can give rise to slippage if the market has moved against you by the time your order is executed. In other words, you may end up paying more than you expected.

However, it can also give rise to price improvements, if the market price has moved in your favour. Some brokers will keep price improvements to themselves, rather than pass them on. Make sure to ask your future broker what his policy is.

Advantages of Market Execution

Experienced traders tend to prefer market execution for the following reasons:

  • Market driven prices: market execution is usually the preserve of STP brokers (Straight Through Processing) or ECN brokers (Electronic Communications Network). Because STP and ECN brokers aggregate market prices from multiple liquidity providers who compete for your orders, they typically provide lower and more competitive spreads than traditional brokers.
  • Fewer restrictions: STP and ECN brokers also tend to place fewer restrictions on trading styles than traditional brokers. This will work in your favour if you have an interest in automated trading (through Expert Advisors for example), scalping or news trading.

Disadvantages of Market Execution

There are no noteable disadvantages to market execution, beyond slippage. Slippage occurs when an order is filled at a price that differs from the requested price. Slippage is never pleasant, but is a fact of life when you trade Forex.