At Best Market Orders
Get filled every time you submit a market order, even during fast moving markets, by using FXCM’s new “At Best” order-type selection.
“At Best”, which is short for “At Best Price”, will enable you to be filled every time you submit an order. You will have the option of never again receiving the messages: "The market has moved" or "The price has expired." When an “At Best” order is submitted, you are filled at the best available rate that is streamed to FXCM from multiple global banks and financial institutions. The price may not always be at the exact rate displayed when the order is submitted. “At Best” offers the certainty of being filled, with the benefits of having multiple banks providing prices to FXCM to give you the best rate.
When executing market orders, FXCM clients are now able to choose between two order types: “Market Range”, the current method of execution, and the new option, “At Best”. The default setting will be “Market Range”; therefore, clients that prefer the current method of execution will not have to make any changes.
At Best
If you select this option, your entire order will be filled at the best available rate. This could be at the rate you click on, or a substantial number of pips away. Essentially, your complete order will be quickly filled, but there is no certainty of the price. The rate is determined by the multiple banks and financial institutions providing prices to FXCM. Advantage = Execution Certainty
If you trade during non-farm payroll announcements or other big news events, you know that prices can change very quickly. The price providers for the No Dealing Desk execution option often feed FXCM hundreds of quotes within a single second during volatile market conditions.* Unfortunately, this speed of change has prevented some orders from being executed in the past. Now, you can choose between having your orders filled every time they are submitted or having control over the exact price range in which orders are filled.
