With FxPro cTrader traders can place both instant and pending orders.

(Instant) Market Order: this is an order to buy or sell at the current market price that is available. The system automatically aggregates the volume received from third party liquidity providers and executes the ‘market order’ at VWAP (‘Volume-Weighted Average Price’) that is the average and best available price at the time of the execution.

Stop Orders: this is an order to buy or sell once the market reaches the ‘stop price’. Once the market reaches the ‘stop price’, the ‘stop order’ is triggered and treated as a ‘market order’*. If the ‘stop order’ is not triggered it shall remain in the system until a later date subject to the conditions described in the ‘Good till Cancel’ section. ‘Stop orders’ can be placed as close to the current market price as possible; there is no restriction.

Stop Loss: this is an order to minimise losses. Once the market reaches the ‘stop loss price’ the order is triggered and treated as a ‘market order’*. If the ‘stop loss’ is not triggered it shall remain in the system until a later date. ‘Stop loss’ can be placed as close to the current market price as possible; there is no restriction.

Limit Orders: this is an order to buy or sell once the market reaches the ‘limit price’. Once the market reaches the ‘limit price’ the order is triggered and executed at the ‘limit price’ or better. If the ‘limit order’ is not triggered it shall remain in the system until a later date subject to the conditions described in the ‘Good till Cancel’ section. ‘Limit orders’ can be placed as close to the current market price as possible; there is no restriction.

Take Profit: this is an order to secure profits. Once the market reaches the ‘take profit price’ the order is triggered and treated as a ‘limit order’. If the ‘take profit’ is not triggered it shall remain in the system until a later date. ‘Take profit’ can be placed as close to the current market price as possible; there is no restriction.

*(Pending) Market Order: this is an order to buy or sell at the current market price that is available. The system automatically aggregates the volume received from third party liquidity providers and executes the ‘market order’ at VWAP (‘Volume-Weighted Average Price’) that is the average and best available price at the time of the execution. Once the ‘market order’ is triggered it shall be subject to the conditions described in the ‘Good till Date’ and ‘Good till Cancel’ sections.

Good till Cancel (‘GTC’) (= Expiry): this is a time setting that the client may apply to ‘pending orders’. The client may choose a specific date in the future until which the order may remain ‘live’ and pending execution; if the order is not triggered during this timeframe it shall be deleted from the system.

Good till Date (‘GTD’): this is an execution setting that applies to ‘pending orders’ traded through cTrader. It defines the period of the first 5 seconds commencing at the time the order is triggered; during these 5 seconds the order is pending execution according to its type described above.

Pending Order Modification/ Cancellation: the client may modify/ cancel a ‘pending order’ if the market did not reach the level of the price specified by the client.

Re-quoting: this is the practice of providing a secondary quote to the client after an ‘instant order’ has been submitted; the client must agree to this quote before the order is executed. FxPro will re-quote ‘instant orders’ if the requested price originally specified by the client is not available. The secondary quote provided to the client is the next available price received by FxPro from its third party liquidity providers. FxPro does not re-quote ‘pending orders’.

Slippage: at the time that an order is presented for execution, the specific price requested by the client may not be available; therefore, the order will be executed close to or a number of pips away from the client’s requested price. If the execution price is better than the price requested by the client this is referred to as ‘positive slippage’. In contrast, if the execution price is worse than the price requested by the client this is referred to as ‘negative slippage’. Please be advised that ‘slippage’ is a normal market practice and a regular feature of the foreign exchange markets under conditions* such as illiquidity and volatility due to news announcements, economic events and market openings. The FxPro automated execution software does not operate based on any individual parameters related to the execution of orders through any specific client accounts.

* Please note that this is not an exhaustive list.

Commission: in the context of cTrader, the client shall be charged commission; further information is available online at: www.fxpro.co.uk/trading/cfd/ecn.

Instant Order(s)	Instant
	Execution	(Instant) Market Order
	Re-quoting
	Slippage
	Partial fills
	Level restrictions on 'stop & limit' orders
	Commission
Pending Orders	Buy Sop
	Execution	(Instant) Market Order
	Re-quoting
	Slippage
	Partial fills
	Level restrictions on 'stop & limit' orders
	Commission
	Sell Stop
	Execution	(Instant) Market Order
	Re-quoting
	Slippage
	Partial fills
	Level restrictions on 'stop & limit' orders
	Commission
	Stop Loss
	Execution	(Instant) Market Order
	Re-quoting
	Slippage
	Partial fills
	Level restrictions on 'stop & limit' orders
	Commission
	Buy Limit
	Execution	(Instant) Market Order
	Re-quoting
	Slippage
	Partial fills
	Level restrictions on 'stop & limit' orders
	Commission
	Sell Limit
	Execution	(Instant) Market Order
	Re-quoting
	Slippage
	Partial fills
	Level restrictions on 'stop & limit' orders
	Commission
	Take Profit
	Execution	(Instant) Market Order
	Re-quoting
	Slippage
	Partial fills
	Level restrictions on 'stop & limit' orders
	Commission

For further information please read our ‘Order Execution Policy’ available online at: www.fxpro.co.uk/trading/products/download

Order Sizes

FxPro can execute any order size starting from 10,000 of the base currency with no maximum limit.

No requotes – guaranteed execution

With the FxPro cTrader, traders have guaranteed execution with no requotes as long as there is depth available in the market.

SOR and VWAP

Smart Order Routing ensures that you always get the best available price whilst enhanced liquidity ensures that your order will be executed automatically 99.9% of the times. In instances of partial fill, FxPro cTrader will automatically aggregate all available liquidity at the best possible prices available and fill at VWAP (Volume-Weighted Average Price).

No restrictions on limit orders – choose your entry/exit point

FxPro cTrader has no restriction on how far away from the current market price a trader can place a take profit or a stop loss level, allowing precise strategy implementation. Traders can place a take profit or stop loss order as close as possible to the current ECN market price.

Swap/Rollover

If a trade is kept open overnight, then there is a swap/rollover cost/income calculated on that position. The cost or income is calculated as the overnight interest rate differential between the two currencies plus the commission charged by the company on which the position is held, depending on the type of the position (long/short).

It is important to remember that you can gain or lose on swap and, as such, you have either positive rollover or negative rollover. There is a possibility that some instruments may have negative rollover values on both sides, because FxPro charges its own commission on the interest rate differential of the overnight rate of the two currencies, and therefore the positive and negative values are decreased accordingly.

The ’swap’ is charged automatically on the account of the client and is converted into the currency that the account is denominated in. The ‘swap’ is charged at 21:59 UK time. From Friday to Monday swap is charged once. From Wednesday to Thursday swap is charged at triple rate.