With Instant Execution, orders are executed at the price predetermined by you when placing your order, if this price is still available. Since markets move fast, the price you specified may no longer be available by the time your order reaches the server. In such cases, you would experience a “re-quote”, where the system will reject your trade and offer you a new price at which it can be filled. This process may be repeated several times, depending on market volatility and broker execution speed.
Market Execution guarantees that the price will never be re-quoted, as your order is filled at the current market price. One advantage of Market Execution is that your orders will always* be filled and you will enter the market with no delays caused by re-quotes. Please note however that the price at which your order is filled may be different to the one you specified, as the entry price depends entirely on the current market price. As an STP broker, Tier1FX offers Market Execution, guaranteeing that your orders are always filled at a fair and transparent market price, with no dealer intervention, re-quotes and delays.
*Subject to market conditions