Order driven execution statistics

Derive the value of potential price improvements on every trade. Assume greater control of your trading and achieve an optimal balance between fill ratio and price level through our fully customised orders.

To learn more about how Saxo executes orders on behalf of its clients, please refer to our Order Execution Policy.

As a way to demonstrate its commitment to increased transparency and delivery of fair outcomes to clients, Saxo Bank Switzerland has taken the initiative to publish its FX order execution statistics to help clients evaluate execution quality when considering their best choice of trading provider.

We are proud that these statistics illustrate that Saxo Bank Switzerland’s interests are aligned with our clients in providing quality execution with significant price improvement and no asymmetric slippage.

The tables below show the following execution statistics for Saxo Bank Switzerland's most traded FX spot currency pairs published on a monthly basis:

Limit IOC Order Statistics
Limit IOC Order Average Improvement, by price tolerance setting
Limit IOC Order Fill Rate, by price tolerance setting
Limit IOC Order Execution Speed
Market Order Statistics
Market Order Execution Speed
Resting Stop Order Statistics
Resting Limit Order Statistics

Limit IOC Order Statistics

Currency Pair	Positive Slippage*	Zero Slippage*	Negative Slippage*	Average Net Slippage (pips)*	Fill Rate***
AUDUSD	24.1%	56.9%	19.0%	0.0	98.0%
EURGBP	19.0%	62.7%	18.4%	0.0	99.9%
EURJPY	37.6%	32.4%	29.9%	0.0	96.7%
EURUSD	23.1%	55.9%	20.9%	0.0	99.7%
GBPJPY	42.2%	26.5%	31.3%	0.1	95.6%
GBPUSD	27.8%	47.6%	24.6%	0.0	99.6%
NZDUSD	19.6%	62.3%	18.1%	0.0	98.9%
USDCAD	21.7%	60.2%	18.1%	0.0	99.7%
USDCHF	21.7%	60.0%	18.4%	0.0	97.5%
USDJPY	33.5%	37.5%	29.1%	0.0	96.4%
XAGUSD	38.4%	32.5%	29.1%	5.2	97.5%
XAUUSD	41.2%	22.6%	36.2%	0.5	99.0%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement.
** On Limit IOC orders with default price tolerance of 0.01% and above.

Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair	0.0 pips*	0.1 – 0.2 pips*	0.3 – 0.6 pips*	0.7 – 1.0 pips*	> 1.1 pips*
AUDUSD	0.1	0.2	0.3	0.7	3.9
EURGBP	0.0	0.1	0.5	0.8	1.9
EURJPY	0.2	0.0	0.5	1.1	2.6
EURUSD	0.1	0.2	0.2	1.0	10.7
GBPJPY	0.3	0.0	0.2	1.2	2.5
GBPUSD	0.1	0.2	0.5	0.0	28.3
NZDUSD	0.0	0.2	0.6	0.0	4.9
USDCAD	0.0	0.2	0.3	0.0	3.4
USDCHF	0.0	0.2	0.5	0.9	6.4
USDJPY	0.2	0.4	0.5	1.0	5.8
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	15.8	0.0	0.0	41.7	208.7
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	5.5	11.8	0.0	27.0	138.8

* Calculated from the Limit IOC order level.
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance.

Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair	0.0 pips	=< 0.2 pips	=< 0.6 pips	=< 1.0 pips	All
AUDUSD	73.0%	73.4%	71.5%	92.3%	94.0%
EURGBP	68.0%	68.9%	73.4%	97.0%	98.1%
EURJPY	54.5%	54.5%	59.9%	60.2%	88.9%
EURUSD	80.8%	81.2%	81.1%	81.2%	97.0%
GBPJPY	70.7%	70.7%	70.4%	70.9%	90.5%
GBPUSD	71.3%	71.7%	72.6%	72.6%	95.9%
NZDUSD	79.8%	80.2%	95.6%	95.6%	96.1%
USDCAD	74.1%	74.3%	79.6%	79.6%	96.9%
USDCHF	63.5%	64.2%	64.9%	90.9%	91.2%
USDJPY	55.7%	55.2%	54.8%	55.7%	88.3%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	67.7%	67.6%	67.6%	81.9%	94.3%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	51.7%	54.7%	54.7%	78.2%	93.4%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	97.1%
< 100	99.6%
< 250	99.9%
< 500	99.9%
< 1000	99.9%
Average execution speed in milliseconds	16

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	22.7%	54.2%	23.1%	0.0	100.0%
EURGBP	16.3%	63.3%	20.3%	0.0	100.0%
EURJPY	35.4%	31.6%	33.0%	0.0	100.0%
EURUSD	23.4%	53.2%	23.4%	0.0	100.0%
GBPJPY	33.7%	27.0%	39.3%	-0.1	100.0%
GBPUSD	28.1%	44.0%	27.9%	0.0	100.0%
NZDUSD	20.4%	59.1%	20.5%	0.0	100.0%
USDCAD	20.1%	58.0%	21.9%	0.0	100.0%
USDCHF	23.8%	52.2%	24.0%	0.0	100.0%
USDJPY	31.8%	35.2%	33.0%	0.0	100.0%
XAGUSD	33.0%	33.4%	33.5%	-0.5	100.0%
XAUUSD	37.5%	24.1%	38.4%	0.0	100.0%

* Average improvement based on all market orders. Calculated from the indicative market price.

Market Order Execution Speed

Time in milliseconds	Fill Rate
< 50	97.9%
< 100	99.7%
< 250	100.0%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	14

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	74.8%	25.2%	0.4	0.1
EURGBP	91.8%	8.2%	0.2	0.0
EURJPY	61.0%	39.0%	0.3	0.1
EURUSD	75.6%	24.4%	0.3	0.1
GBPJPY	47.6%	52.4%	0.4	0.2
GBPUSD	65.6%	34.4%	0.4	0.1
NZDUSD	77.3%	22.7%	0.5	0.1
USDCAD	86.4%	13.6%	0.5	0.1
USDCHF	67.8%	32.2%	0.8	0.2
USDJPY	73.2%	26.8%	0.4	0.1
XAGUSD	10.2%	89.8%	13.2	11.5
XAUUSD	38.5%	61.5%	5.9	3.6

* Average slippage based on stop orders that were slipped. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering.
** Average slippage based on all stop orders. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering.

Resting Limit Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	26.6%	73.4%	0.6	0.2
EURGBP	14.6%	85.4%	0.3	0.0
EURJPY	41.7%	58.3%	0.3	0.1
EURUSD	26.1%	73.9%	0.4	0.1
GBPJPY	51.3%	48.7%	0.4	0.2
GBPUSD	32.9%	67.1%	0.5	0.2
NZDUSD	20.6%	79.4%	0.4	0.1
USDCAD	15.3%	84.7%	0.3	0.0
USDCHF	32.6%	67.4%	0.5	0.2
USDJPY	33.7%	66.3%	0.3	0.1
XAGUSD	88.1%	11.9%	13.9	12.3
XAUUSD	63.2%	36.8%	5.6	3.5

* Average improvement based on limit orders that were Improvement.
** Average improvement based on all limit orders. Calculated from the limit order level.

Limit IOC Order Statistics

Currency Pair	Positive Slippage*	Zero Slippage*	Negative Slippage*	Average Net Slippage (pips)*	Fill Rate***
AUDUSD	23.4%	56.9%	19.7%	0.0	97.7%
EURGBP	16.3%	64.1%	19.6%	0.0	99.9%
EURJPY	38.4%	27.4%	34.2%	0.0	97.7%
EURUSD	26.0%	50.3%	23.7%	0.0	99.7%
GBPJPY	46.9%	20.6%	32.4%	0.1	96.8%
GBPUSD	28.2%	45.9%	25.9%	0.0	99.5%
NZDUSD	22.0%	61.5%	16.4%	0.0	98.1%
USDCAD	23.2%	54.7%	22.1%	0.0	99.8%
USDCHF	25.7%	51.6%	22.8%	0.0	97.9%
USDJPY	36.4%	30.6%	33.0%	0.0	97.7%
XAGUSD	38.1%	35.2%	26.8%	4.9	96.7%
XAUUSD	43.4%	23.4%	33.2%	1.1	98.8%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement.
** On Limit IOC orders with default price tolerance of 0.01% and above.

Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair	0.0 pips*	0.1 – 0.2 pips*	0.3 – 0.6 pips*	0.7 – 1.0 pips*	> 1.1 pips*
AUDUSD	0.1	0.2	0.3	0.7	4.5
EURGBP	0.0	0.0	0.5	0.8	2.8
EURJPY	0.3	0.0	0.6	1.1	2.1
EURUSD	0.1	0.2	0.5	1.0	7.6
GBPJPY	0.4	0.0	0.5	1.0	2.4
GBPUSD	0.1	0.2	0.5	0.0	3.8
NZDUSD	0.1	0.2	0.6	0.0	3.6
USDCAD	0.1	0.2	0.3	0.0	4.0
USDCHF	0.1	0.2	0.5	0.8	5.2
USDJPY	0.3	0.3	0.5	1.0	13.5
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	14.4	24.0	0.0	38.4	470.0
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	5.8	13.0	0.0	26.3	160.7

* Calculated from the Limit IOC order level.
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance.

Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair	0.0 pips	=< 0.2 pips	=< 0.6 pips	=< 1.0 pips	All
AUDUSD	69.1%	69.7%	67.7%	90.4%	93.2%
EURGBP	47.5%	46.8%	51.5%	95.5%	97.4%
EURJPY	58.6%	58.6%	66.8%	66.9%	92.0%
EURUSD	75.6%	76.0%	76.0%	75.9%	97.0%
GBPJPY	80.7%	80.7%	80.7%	80.7%	93.3%
GBPUSD	65.3%	66.2%	67.1%	67.1%	95.2%
NZDUSD	78.6%	79.3%	93.1%	93.1%	94.1%
USDCAD	75.0%	75.7%	78.4%	78.4%	97.1%
USDCHF	59.2%	59.9%	60.6%	91.7%	92.2%
USDJPY	58.7%	61.5%	61.5%	64.5%	92.2%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	69.6%	70.2%	70.2%	80.7%	92.7%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	62.4%	64.4%	64.4%	79.5%	92.4%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	98.2%
< 100	99.7%
< 250	99.9%
< 500	99.9%
< 1000	100.0%
Average execution speed in milliseconds	14

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	23.8%	54.8%	21.3%	0.0	100.0%
EURGBP	22.5%	60.6%	16.9%	0.0	100.0%
EURJPY	37.0%	25.9%	37.0%	0.0	100.0%
EURUSD	25.3%	48.6%	26.1%	0.0	100.0%
GBPJPY	38.3%	20.8%	40.9%	0.0	100.0%
GBPUSD	27.6%	44.4%	28.0%	0.0	100.0%
NZDUSD	24.1%	54.9%	21.0%	0.0	100.0%
USDCAD	25.0%	52.1%	22.9%	0.0	100.0%
USDCHF	24.7%	48.1%	27.3%	0.0	100.0%
USDJPY	36.6%	26.5%	36.8%	0.0	100.0%
XAGUSD	34.1%	32.9%	33.0%	-0.3	100.0%
XAUUSD	39.0%	23.8%	37.3%	-0.1	100.0%

* Average improvement based on all market orders. Calculated from the indicative market price.

Market Order Execution Speed

Time in milliseconds	Fill Rate
< 50	98.5%
< 100	99.9%
< 250	100.0%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	13

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	82.1%	17.9%	0.2	0.0
EURGBP	86.6%	13.4%	0.5	0.1
EURJPY	54.2%	45.8%	0.3	-0.1
EURUSD	78.8%	21.2%	0.3	0.1
GBPJPY	44.9%	55.1%	0.3	0.2
GBPUSD	71.6%	28.4%	0.3	0.1
NZDUSD	77.8%	22.2%	0.3	0.0
USDCAD	85.8%	14.2%	0.8	0.1
USDCHF	72.4%	27.6%	0.3	0.1
USDJPY	71.5%	28.5%	0.4	0.1
XAGUSD	10.7%	89.3%	10.7	9.3
XAUUSD	37.7%	62.3%	4.5	2.7

Resting Limit Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	22.7%	77.3%	0.4	0.1
EURGBP	12.4%	87.6%	0.8	0.1
EURJPY	46.3%	53.7%	0.4	0.2
EURUSD	21.6%	78.4%	0.4	0.1
GBPJPY	60.3%	39.7%	0.6	0.4
GBPUSD	29.6%	70.4%	0.4	0.1
NZDUSD	25.1%	74.9%	0.5	0.1
USDCAD	19.0%	81.0%	0.8	0.2
USDCHF	29.2%	70.8%	0.5	0.2
USDJPY	36.3%	63.7%	0.4	0.1
XAGUSD	86.0%	14.0%	10.2	8.8
XAUUSD	60.2%	39.8%	4.6	2.8

* Average improvement based on limit orders that were Improvement.
** Average improvement based on all limit orders. Calculated from the limit order level.

Limit IOC Order Statistics

Currency Pair	Positive Slippage*	Zero Slippage*	Negative Slippage*	Average Net Slippage (pips)*	Fill Rate**
AUDUSD	23.9%	55.6%	20.5%	0.0	98.2%
EURGBP	19.4%	62.4%	18.3%	0.0	99.9%
EURJPY	40.7%	26.5%	32.7%	0.1	97.8%
EURUSD	24.8%	53.3%	21.9%	0.0	99.7%
GBPJPY	43.1%	20.6%	36.4%	0.1	97.2%
GBPUSD	24.6%	54.7%	20.7%	0.0	99.6%
NZDUSD	20.4%	63.5%	16.1%	0.0	98.8%
USDCAD	23.1%	55.3%	21.6%	0.0	99.8%
USDCHF	25.5%	53.9%	20.7%	0.0	98.4%
USDJPY	37.3%	29.7%	33.0%	0.0	98.0%
XAGUSD	33.7%	40.3%	26.0%	3.3	96.0%
XAUUSD	41.3%	25.3%	33.4%	0.9	98.8%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement.
** On Limit IOC orders with default price tolerance of 0.01% and above.

Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair	0.0 pips*	0.1 – 0.2 pips*	0.3 – 0.6 pips*	0.7 – 1.0 pips*	> 1.1 pips*
AUDUSD	0.1	0.2	0.6	0.7	12.0
EURGBP	0.0	0.2	0.5	0.9	2.1
EURJPY	0.3	0.0	0.6	1.1	2.3
EURUSD	0.1	0.2	0.4	1.0	5.7
GBPJPY	0.4	0.0	0.7	0.0	3.5
GBPUSD	0.1	0.2	0.5	1.0	2.5
NZDUSD	0.0	0.2	0.6	0.0	4.3
USDCAD	0.0	0.2	0.3	0.0	4.3
USDCHF	0.1	0.2	0.5	0.9	2.6
USDJPY	0.3	0.3	0.7	1.0	15.1
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	12.7	19.0	0.0	33.0	156.0
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	5.0	11.2	22.0	25.3	269.3

* Calculated from the Limit IOC order level.
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance.

Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair	0.0 pips	=< 0.2 pips	=< 0.6 pips	=< 1.0 pips	All
AUDUSD	73.1%	73.3%	80.4%	93.2%	94.4%
EURGBP	68.6%	68.3%	71.3%	97.2%	97.9%
EURJPY	60.0%	60.0%	65.6%	66.3%	92.2%
EURUSD	75.4%	76.0%	76.1%	76.1%	96.9%
GBPJPY	59.2%	59.2%	62.0%	62.0%	93.4%
GBPUSD	77.0%	77.3%	77.7%	78.6%	95.9%
NZDUSD	83.2%	83.7%	95.4%	95.4%	95.9%
USDCAD	76.6%	76.8%	77.3%	77.3%	97.4%
USDCHF	69.9%	70.6%	71.9%	93.6%	94.1%
USDJPY	60.3%	61.0%	61.9%	66.0%	93.1%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	63.9%	64.0%	64.0%	77.6%	91.2%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	59.1%	60.7%	60.7%	78.0%	92.2%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	98.4%
< 100	99.7%
< 250	99.9%
< 500	99.9%
< 1000	100.0%
Average execution speed in milliseconds	14

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	20.5%	58.8%	20.7%	0.0	100.0%
EURGBP	19.3%	61.7%	19.0%	0.0	100.0%
EURJPY	32.4%	36.6%	31.0%	0.0	100.0%
EURUSD	20.2%	58.6%	21.2%	0.0	100.0%
GBPJPY	34.2%	32.8%	33.0%	0.0	100.0%
GBPUSD	21.2%	56.3%	22.5%	0.0	100.0%
NZDUSD	19.1%	63.0%	18.0%	0.0	100.0%
USDCAD	21.7%	59.2%	19.1%	0.0	100.0%
USDCHF	19.1%	62.2%	18.7%	0.0	100.0%
USDJPY	32.3%	33.7%	34.1%	0.0	100.0%
XAGUSD	29.7%	39.1%	31.3%	-0.2	100.0%
XAUUSD	35.3%	30.0%	34.8%	0.0	100.0%

* Average improvement based on all market orders. Calculated from the indicative market price.

Market Order Execution Speed

Time in milliseconds	Fill Rate
< 50	98.4%
< 100	99.8%
< 250	100.0%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	13

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	80.5%	19.5%	0.3	0.0
EURGBP	86.6%	13.4%	0.4	0.1
EURJPY	54.9%	45.1%	0.3	0.1
EURUSD	81.0%	19.0%	0.3	0.1
GBPJPY	42.7%	57.3%	0.3	0.2
GBPUSD	70.7%	29.3%	0.4	0.1
NZDUSD	77.3%	22.7%	0.4	0.1
USDCAD	83.1%	16.9%	0.2	0.0
USDCHF	79.2%	20.8%	0.3	0.1
USDJPY	67.5%	32.5%	0.3	0.1
XAGUSD	13.6%	86.4%	10.1	7.8
XAUUSD	37.0%	63.0%	5.1	3.2

Resting Limit Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	24.5%	75.5%	0.5	0.1
EURGBP	22.6%	77.4%	0.7	0.2
EURJPY	48.5%	51.5%	0.4	0.2
EURUSD	22.2%	77.8%	0.3	0.1
GBPJPY	62.7%	37.3%	0.4	0.3
GBPUSD	33.1%	66.9%	0.5	0.2
NZDUSD	28.8%	71.2%	0.4	0.1
USDCAD	14.5%	85.5%	0.4	0.1
USDCHF	31.7%	68.3%	0.8	0.3
USDJPY	40.1%	59.9%	0.4	0.2
XAGUSD	85.2%	14.8%	9.8	8.3
XAUUSD	64.1%	35.9%	5.2	3.3

* Average improvement based on limit orders that were Improvement.
** Average improvement based on all limit orders. Calculated from the limit order level.

Limit IOC Order Statistics

Currency Pair	Positive Slippage*	Zero Slippage*	Negative Slippage*	Average Net Slippage (pips)*	Fill Rate**
AUDUSD	20.7%	62.1%	17.2%	0.0	99.4%
EURGBP	15.9%	68.1%	16.0%	0.0	100.0%
EURJPY	33.5%	37.3%	29.2%	0.0	99.2%
EURUSD	20.1%	61.0%	19.0%	0.0	99.8%
GBPJPY	36.4%	29.0%	34.6%	0.0	98.3%
GBPUSD	22.7%	58.1%	19.2%	0.0	99.8%
NZDUSD	16.0%	68.6%	15.4%	0.0	99.5%
USDCAD	21.2%	57.8%	21.0%	0.0	100.0%
USDCHF	18.8%	66.2%	15.0%	0.0	99.6%
USDJPY	31.0%	40.7%	28.3%	0.0	99.0%
XAGUSD	32.9%	42.8%	24.2%	3.4	97.2%
XAUUSD	38.1%	29.2%	32.7%	0.5	99.5%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement.
** On Limit IOC orders with default price tolerance of 0.01% and above.

Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair	0.0 pips*	0.1 – 0.2 pips*	0.3 – 0.6 pips*	0.7 – 1.0 pips*	> 1.1 pips*
AUDUSD	0.0	0.2	0.5	0.7	9.1
EURGBP	0.0	0.2	0.5	0.8	2.5
EURJPY	0.2	0.0	0.6	0.9	3.6
EURUSD	0.0	0.2	0.6	1.0	5.7
GBPJPY	0.5	0.2	0.5	1.0	3.0
GBPUSD	0.1	0.2	0.5	1.0	2.1
NZDUSD	0.0	0.2	0.6	1.0	4.0
USDCAD	0.0	0.2	0.3	1.0	3.7
USDCHF	0.1	0.2	0.5	0.9	3.5
USDJPY	0.2	0.3	0.6	1.1	23.8
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	10.3	0.0	0.0	33.7	338.3
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	3.9	12.3	0.0	24.5	236.3

* Calculated from the Limit IOC order level.
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance.

Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair	0.0 pips	=< 0.2 pips	=< 0.6 pips	=< 1.0 pips	All
AUDUSD	80.5%	80.8%	82.6%	95.7%	96.5%
EURGBP	91.9%	93.0%	93.8%	99.4%	99.5%
EURJPY	73.3%	73.3%	78.3%	79.3%	96.8%
EURUSD	82.5%	83.1%	83.3%	83.5%	98.4%
GBPJPY	74.0%	75.6%	76.5%	78.0%	97.8%
GBPUSD	79.0%	79.3%	79.7%	80.9%	96.9%
NZDUSD	86.2%	85.9%	97.6%	97.6%	98.2%
USDCAD	82.7%	82.8%	83.5%	83.6%	98.9%
USDCHF	77.3%	78.1%	79.0%	95.2%	96.0%
USDJPY	76.6%	76.7%	76.9%	77.3%	96.2%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	70.2%	70.2%	70.2%	79.9%	92.4%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	70.6%	73.3%	73.3%	89.2%	96.6%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	98.1%
< 100	99.6%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	13

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	20.5%	58.8%	20.7%	0.0	100.0%
EURGBP	19.3%	61.7%	19.0%	0.0	100.0%
EURJPY	32.4%	36.6%	31.0%	0.0	100.0%
EURUSD	20.2%	58.6%	21.2%	0.0	100.0%
GBPJPY	34.2%	32.8%	33.0%	0.0	100.0%
GBPUSD	21.2%	56.3%	22.5%	0.0	100.0%
NZDUSD	19.1%	63.0%	18.0%	0.0	100.0%
USDCAD	21.7%	59.2%	19.1%	0.0	100.0%
USDCHF	19.1%	62.2%	18.7%	0.0	100.0%
USDJPY	32.3%	33.7%	34.1%	0.0	100.0%
XAGUSD	29.7%	39.1%	31.3%	-0.2	100.0%
XAUUSD	35.3%	30.0%	34.8%	0.0	100.0%

* Average improvement based on all market orders. Calculated from the indicative market price.

Market Order Execution Speed

Time in milliseconds	Fill Rate
< 50	98.4%
< 100	99.8%
< 250	100.0%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	10

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	78.2%	21.8%	0.7	0.1
EURGBP	84.7%	15.3%	0.5	0.1
EURJPY	61.7%	38.3%	0.4	0.2
EURUSD	76.3%	23.7%	0.4	0.1
GBPJPY	49.0%	51.0%	0.3	0.2
GBPUSD	66.7%	33.3%	0.6	0.2
NZDUSD	73.7%	26.3%	1.1	0.3
USDCAD	82.4%	17.6%	0.4	0.1
USDCHF	74.3%	25.7%	0.4	0.1
USDJPY	66.2%	33.8%	0.4	0.1
XAGUSD	14.3%	85.7%	21.7	17.3
XAUUSD	36.9%	63.1%	8.0	5.0

Resting Limit Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	26.3%	73.7%	0.9	0.2
EURGBP	22.5%	77.5%	0.8	0.2
EURJPY	49.5%	50.5%	0.5	0.2
EURUSD	22.9%	77.1%	0.4	0.1
GBPJPY	57.5%	42.5%	0.5	0.3
GBPUSD	40.7%	59.3%	0.6	0.2
NZDUSD	28.6%	71.4%	1.3	0.4
USDCAD	18.8%	81.2%	0.3	0.1
USDCHF	33.0%	67.0%	0.4	0.1
USDJPY	41.7%	58.3%	0.5	0.2
XAGUSD	86.6%	13.4%	13.4	11.6
XAUUSD	62.8%	37.2%	5.8	3.6

* Average improvement based on limit orders that were Improvement.
** Average improvement based on all limit orders. Calculated from the limit order level.

Limit IOC Order Statistics

Currency Pair	Positive Slippage*	Zero Slippage*	Negative Slippage*	Average Net Slippage (pips)*	Fill Rate**
AUDUSD	20.8%	60.3%	18.9%	0.0	99.4%
EURGBP	16.5%	67.0%	16.5%	0.0	100.0%
EURJPY	32.6%	36.0%	31.5%	0.0	99.9%
EURUSD	21.2%	59.6%	19.2%	0.0	99.6%
GBPJPY	33.5%	33.4%	33.0%	0.0	99.8%
GBPUSD	23.9%	55.9%	20.2%	0.0	99.6%
NZDUSD	18.9%	64.3%	16.8%	0.0	99.4%
USDCAD	21.7%	56.7%	21.6%	0.0	99.9%
USDCHF	18.7%	66.1%	15.3%	0.0	99.1%
USDJPY	26.1%	49.1%	24.8%	0.0	99.3%
XAGUSD	35.6%	40.4%	24.0%	4.2	96.9%
XAUUSD	39.0%	28.3%	32.7%	0.7	98.6%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement.
** On Limit IOC orders with default price tolerance of 0.01% and above.

Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair	0.0 pips*	0.1 – 0.2 pips*	0.3 – 0.6 pips*	0.7 – 1.0 pips*	> 1.1 pips*
AUDUSD	0.0	0.2	0.4	0.7	5.5
EURGBP	0.0	0.2	0.5	0.8	6.1
EURJPY	0.1	0.0	0.5	1.0	2.2
EURUSD	0.1	0.2	0.4	1.1	4.6
GBPJPY	0.1	0.0	0.4	0.0	2.6
GBPUSD	0.1	0.2	0.5	1.0	2.2
NZDUSD	0.0	0.0	0.6	1.0	3.1
USDCAD	0.0	0.2	0.4	1.0	4.1
USDCHF	0.1	0.2	0.5	0.9	2.2
USDJPY	0.1	0.2	0.5	0.9	21.1
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	11.9	0.0	0.0	36.7	616.1
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	4.3	12.9	0.0	23.5	491.1

* Calculated from the Limit IOC order level.
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance.

Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair	0.0 pips	=< 0.2 pips	=< 0.6 pips	=< 1.0 pips	All
AUDUSD	70.5%	70.9%	71.2%	93.7%	94.8%
EURGBP	90.2%	87.0%	89.2%	99.2%	99.4%
EURJPY	73.2%	73.2%	80.4%	80.9%	98.6%
EURUSD	76.6%	77.2%	77.1%	77.3%	96.5%
GBPJPY	54.9%	54.9%	55.3%	55.3%	96.6%
GBPUSD	81.3%	81.6%	79.9%	82.6%	96.1%
NZDUSD	91.5%	91.5%	97.5%	97.5%	97.9%
USDCAD	64.5%	65.9%	67.3%	67.7%	97.6%
USDCHF	76.6%	77.7%	78.5%	95.4%	95.8%
USDJPY	69.6%	69.4%	69.8%	70.8%	95.4%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	88.1%	88.1%	82.8%	84.9%	95.4%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	50.3%	54.4%	53.8%	77.1%	91.1%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	97.5%
< 100	99.7%
< 250	99.9%
< 500	99.9%
< 1000	100.0%
Average execution speed in milliseconds	14

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	21.5%	57.0%	21.5%	0.0	100.0%
EURGBP	12.1%	70.0%	17.8%	0.0	100.0%
EURJPY	31.4%	37.9%	30.7%	0.0	100.0%
EURUSD	20.5%	57.3%	22.2%	0.0	100.0%
GBPJPY	28.3%	37.5%	34.1%	0.0	100.0%
GBPUSD	23.0%	52.0%	25.0%	0.0	100.0%
NZDUSD	22.1%	61.1%	16.8%	0.0	100.0%
USDCAD	22.5%	55.5%	22.0%	0.0	100.0%
USDCHF	17.0%	64.6%	18.4%	0.0	100.0%
USDJPY	26.7%	42.6%	30.7%	0.0	100.0%
XAGUSD	33.1%	34.6%	32.2%	-0.4	100.0%
XAUUSD	35.8%	27.7%	36.5%	-0.1	100.0%

* Average improvement based on all market orders. Calculated from the indicative market price.

Market Order Execution Speed

Time in milliseconds	Fill Rate
< 50	98.2%
< 100	99.7%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	13

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	80.3%	19.7%	0.6	0.1
EURGBP	82.3%	17.7%	0.4	0.1
EURJPY	64.3%	35.7%	0.3	0.1
EURUSD	82.3%	17.7%	0.6	0.1
GBPJPY	54.6%	45.4%	0.3	0.1
GBPUSD	69.6%	30.4%	0.4	0.1
NZDUSD	72.1%	27.9%	0.7	0.2
USDCAD	75.0%	25.0%	1.9	0.4
USDCHF	65.7%	34.3%	1.0	0.4
USDJPY	69.2%	30.8%	0.4	0.1
XAGUSD	8.8%	91.2%	12.2	11.1
XAUUSD	38.9%	61.1%	7.3	4.3

Resting Limit Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	21.9%	78.1%	0.7	0.2
EURGBP	23.5%	76.5%	0.4	0.1
EURJPY	33.7%	66.3%	0.4	0.1
EURUSD	19.0%	81.0%	0.4	0.1
GBPJPY	39.9%	60.1%	0.3	0.1
GBPUSD	34.9%	65.1%	0.7	0.3
NZDUSD	25.8%	74.2%	0.7	0.2
USDCAD	22.8%	77.2%	0.5	0.1
USDCHF	35.1%	64.9%	1.1	0.4
USDJPY	34.6%	65.4%	0.5	0.2
XAGUSD	86.0%	14.0%	12.9	11.1
XAUUSD	61.3%	38.7%	5.7	3.5

* Average improvement based on limit orders that were Improvement.
** Average improvement based on all limit orders. Calculated from the limit order level.

Limit IOC Order Statistics

Currency Pair	Positive Slippage*	Zero Slippage*	Negative Slippage*	Average Net Slippage (pips)*	Fill Rate***
AUDUSD	20.2%	62.9%	16.9%	0.0	99.4%
EURGBP	15.8%	69.3%	14.9%	0.0	100.0%
EURJPY	28.3%	44.6%	27.1%	0.0	99.9%
EURUSD	20.5%	60.5%	19.0%	0.0	99.7%
GBPJPY	30.5%	42.0%	27.5%	0.0	99.8%
GBPUSD	23.1%	55.8%	21.1%	0.0	99.6%
NZDUSD	16.6%	63.9%	19.6%	0.0	99.6%
USDCAD	22.1%	57.7%	20.2%	0.0	99.9%
USDCHF	16.8%	69.1%	14.1%	0.0	99.1%
USDJPY	28.3%	47.1%	24.7%	0.0	99.4%
XAGUSD	35.7%	38.3%	26.1%	4.5	98.0%
XAUUSD	38.2%	29.5%	32.4%	0.7	98.9%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement.
** On Limit IOC orders with default price tolerance of 0.01% and above.

Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair	0.0 pips*	0.1 – 0.2 pips*	0.3 – 0.6 pips*	0.7 – 1.0 pips*	> 1.1 pips*
AUDUSD	0.0	0.2	0.6	0.7	8.5
EURGBP	0.0	0.2	0.5	0.9	9.3
EURJPY	0.1	0.0	0.5	1.0	2.4
EURUSD	0.1	0.2	0.4	1.0	6.8
GBPJPY	0.2	0.1	0.6	1.0	2.8
GBPUSD	0.1	0.2	0.4	1.0	2.2
NZDUSD	0.0	0.2	0.6	1.0	4.9
USDCAD	0.1	0.2	0.4	1.2	6.6
USDCHF	0.0	0.2	0.5	0.9	2.2
USDJPY	0.1	0.2	0.5	0.8	4.8
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	14.2	0.0	0.0	37.0	475.0
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	5.2	11.1	20.8	23.9	373.6

* Calculated from the Limit IOC order level.
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance.

Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair	0.0 pips	=< 0.2 pips	=< 0.6 pips	=< 1.0 pips	All
AUDUSD	74.3%	74.8%	77.1%	94.5%	95.3%
EURGBP	87.2%	82.4%	83.6%	99.2%	99.5%
EURJPY	72.9%	72.9%	85.3%	86.3%	98.8%
EURUSD	73.2%	73.6%	73.5%	73.8%	96.6%
GBPJPY	60.3%	60.5%	60.8%	61.9%	96.4%
GBPUSD	78.5%	78.7%	77.1%	78.2%	96.5%
NZDUSD	81.8%	82.1%	98.0%	98.0%	98.3%
USDCAD	69.5%	70.1%	71.5%	71.8%	97.7%
USDCHF	71.1%	75.3%	75.8%	95.5%	95.7%
USDJPY	64.4%	66.3%	67.7%	68.3%	95.7%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	87.1%	87.1%	81.4%	88.5%	96.7%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	50.0%	64.4%	65.7%	83.3%	93.2%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	96.1%
< 100	99.6%
< 250	99.9%
< 500	99.9%
< 1000	100.0%
Average execution speed in milliseconds	16

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	21.8%	58.1%	20.1%	0.0	100.0%
EURGBP	16.4%	69.5%	14.1%	0.0	100.0%
EURJPY	26.7%	45.5%	27.9%	0.0	100.0%
EURUSD	20.6%	57.5%	22.0%	0.0	100.0%
GBPJPY	27.0%	43.0%	30.1%	0.0	100.0%
GBPUSD	24.4%	52.4%	23.2%	0.0	100.0%
NZDUSD	15.0%	65.7%	19.3%	0.0	100.0%
USDCAD	21.0%	58.0%	21.1%	0.0	100.0%
USDCHF	16.0%	66.7%	17.4%	0.0	100.0%
USDJPY	27.4%	42.1%	30.6%	0.0	100.0%
XAGUSD	31.2%	36.5%	32.3%	-0.5	100.0%
XAUUSD	36.1%	28.7%	35.1%	0.0	100.0%

* Average improvement based on all market orders. Calculated from the indicative market price.

Market Order Execution Speed

Time in milliseconds	Fill Rate
< 50	97.8%
< 100	99.7%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	13

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	83.6%	16.4%	0.5	0.1
EURGBP	81.6%	18.4%	0.3	0.0
EURJPY	64.3%	35.7%	0.4	0.1
EURUSD	82.0%	18.0%	0.7	0.1
GBPJPY	54.1%	45.9%	0.5	0.2
GBPUSD	71.1%	28.9%	0.5	0.2
NZDUSD	68.4%	31.6%	0.8	0.2
USDCAD	77.8%	22.2%	1.3	0.3
USDCHF	76.2%	23.8%	0.9	0.1
USDJPY	70.1%	29.9%	0.4	0.1
XAGUSD	9.4%	90.6%	14.3	12.9
XAUUSD	37.5%	62.5%	5.3	3.3

Resting Limit Order Statistics

Currency Pair	Price improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	19.4%	80.6%	0.4	0.1
EURGBP	20.9%	79.1%	0.4	0.1
EURJPY	47.0%	53.0%	0.6	0.3
EURUSD	17.6%	82.4%	0.4	0.1
GBPJPY	46.8%	53.2%	0.6	0.3
GBPUSD	33.2%	66.8%	0.6	0.2
NZDUSD	26.6%	73.4%	1.0	0.3
USDCAD	23.3%	76.7%	0.9	0.2
USDCHF	40.3%	59.7%	0.5	0.2
USDJPY	36.8%	63.2%	0.5	0.2
XAGUSD	85.6%	14.4%	11.4	9.8
XAUUSD	62.4%	37.6%	5.0	3.1

* Average improvement based on limit orders that were Improvement.
** Average improvement based on all limit orders. Calculated from the limit order level.

Limit IOC Order Statistics

Currency Pair	Positive Slippage*	Zero Slippage*	Negative Slippage*	Average Net Slippage (pips)*	Fill Rate***
AUDUSD	22.7%	58.5%	18.9%	0.0	99.4%
EURGBP	14.4%	70.4%	15.2%	0.0	100.0%
EURJPY	29.6%	41.0%	29.4%	0.0	99.9%
EURUSD	23.3%	55.8%	20.9%	0.0	99.7%
GBPJPY	34.3%	37.9%	27.8%	0.1	99.7%
GBPUSD	24.2%	54.4%	21.4%	0.0	99.6%
NZDUSD	19.2%	62.9%	17.9%	0.0	99.4%
USDCAD	25.9%	52.3%	21.7%	0.0	99.9%
USDCHF	21.1%	61.3%	17.7%	0.0	99.1%
USDJPY	29.9%	44.8%	25.3%	0.1	99.3%
XAGUSD	34.4%	40.5%	25.1%	4.1	97.9%
XAUUSD	39.9%	27.3%	32.9%	1.1	99.2%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement.
** On Limit IOC orders with default price tolerance of 0.01% and above.

Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair	0.0 pips*	0.1 – 0.2 pips*	0.3 – 0.6 pips*	0.7 – 1.0 pips*	> 1.1 pips*
AUDUSD	0.1	0.2	0.6	0.7	7.1
EURGBP	0.0	0.1	0.4	0.9	13.6
EURJPY	0.1	0.0	0.5	0.9	1.9
EURUSD	0.1	0.2	0.4	1.0	7.0
GBPJPY	0.2	0.4	0.5	0.0	2.4
GBPUSD	0.1	0.2	0.5	1.0	2.8
NZDUSD	0.0	0.2	0.6	1.0	4.4
USDCAD	0.1	0.2	0.4	1.0	7.1
USDCHF	0.1	0.2	0.5	0.9	2.7
USDJPY	0.2	0.2	0.5	1.2	5.4
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	13.0	30.0	31.1	35.6	289.7
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	6.5	6.2	20.9	24.4	696.3

* Calculated from the Limit IOC order level.
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance.

Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair	0.0 pips	=< 0.2 pips	=< 0.6 pips	=< 1.0 pips	All
AUDUSD	77.2%	77.8%	91.2%	94.3%	95.3%
EURGBP	94.2%	91.9%	92.3%	99.3%	99.5%
EURJPY	71.6%	71.6%	83.5%	83.7%	99.2%
EURUSD	78.8%	79.5%	79.5%	79.6%	97.0%
GBPJPY	67.3%	68.7%	69.4%	69.4%	95.3%
GBPUSD	80.3%	80.5%	84.4%	84.5%	96.8%
NZDUSD	75.0%	75.2%	97.6%	97.7%	97.9%
USDCAD	75.6%	77.4%	79.3%	79.6%	97.8%
USDCHF	73.4%	75.9%	76.2%	95.5%	95.7%
USDJPY	65.2%	65.4%	66.5%	66.9%	95.2%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	88.5%	88.6%	84.7%	89.0%	96.7%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	63.5%	64.8%	66.3%	87.5%	95.0%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	96.8%
< 100	99.5%
< 250	99.9%
< 500	99.9%
< 1000	100.0%
Average execution speed in milliseconds	15

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	23.0%	54.0%	23.1%	0.0	100.0%
EURGBP	13.1%	69.0%	17.9%	0.0	100.0%
EURJPY	27.7%	43.7%	28.6%	0.0	100.0%
EURUSD	24.2%	50.8%	25.0%	0.0	100.0%
GBPJPY	31.5%	35.9%	32.6%	0.0	100.0%
GBPUSD	23.2%	53.0%	23.7%	0.0	100.0%
NZDUSD	17.5%	63.5%	19.0%	0.0	100.0%
USDCAD	23.6%	51.1%	25.3%	0.0	100.0%
USDCHF	20.2%	56.6%	23.2%	0.0	100.0%
USDJPY	28.2%	41.0%	30.9%	0.0	100.0%
XAGUSD	30.6%	38.7%	30.7%	0.0	100.0%
XAUUSD	36.3%	27.2%	36.4%	-0.1	100.0%

* Average improvement based on all market orders. Calculated from the indicative market price.

Market Order Execution Speed

Time in milliseconds	Fill Rate
< 50	98.4%
< 100	99.7%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	12

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	82.2%	17.8%	0.5	0.1
EURGBP	86.0%	14.0%	0.2	0.0
EURJPY	62.6%	37.4%	0.3	0.1
EURUSD	83.4%	16.6%	0.3	0.1
GBPJPY	50.8%	49.2%	0.4	0.2
GBPUSD	72.9%	27.1%	0.3	0.1
NZDUSD	80.9%	19.1%	0.5	0.1
USDCAD	85.3%	14.7%	0.3	0.0
USDCHF	71.7%	28.3%	0.4	0.1
USDJPY	63.5%	36.5%	0.4	0.1
XAGUSD	10.5%	89.5%	10.1	9.0
XAUUSD	36.9%	63.1%	4.2	2.6

Resting Limit Order Statistics

Currency Pair	Price improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	21.1%	78.9%	0.4	0.1
EURGBP	14.5%	85.5%	0.4	0.1
EURJPY	45.2%	54.8%	0.4	0.2
EURUSD	17.5%	82.5%	0.3	0.1
GBPJPY	47.1%	52.9%	0.5	0.2
GBPUSD	27.5%	72.5%	0.5	0.1
NZDUSD	23.1%	76.9%	0.2	0.1
USDCAD	19.3%	80.7%	0.4	0.1
USDCHF	36.1%	63.9%	0.4	0.1
USDJPY	39.9%	60.1%	0.4	0.2
XAGUSD	84.5%	15.5%	9.7	8.2
XAUUSD	62.8%	37.2%	3.8	2.4

* Average improvement based on limit orders that were Improvement.
** Average improvement based on all limit orders. Calculated from the limit order level.

Limit IOC Order Statistics

Currency Pair	Positive Slippage*	Zero Slippage*	Negative Slippage*	Average Net Slippage (pips)*	Fill Rate**
AUDUSD	20.4%	62.7%	16.9%	0.0	99.3%
EURGBP	16.5%	68.4%	15.1%	0.0	100.0%
EURJPY	28.6%	44.1%	27.3%	0.0	99.9%
EURUSD	22.4%	58.4%	19.2%	0.0	99.6%
GBPJPY	33.5%	37.7%	28.8%	0.0	99.7%
GBPUSD	23.0%	55.2%	21.8%	0.0	99.6%
NZDUSD	17.5%	66.1%	16.5%	0.0	99.4%
USDCAD	21.0%	58.0%	21.0%	0.0	99.9%
USDCHF	19.0%	63.1%	18.0%	0.0	99.3%
USDJPY	28.4%	46.0%	25.6%	0.0	99.4%
XAGUSD	25.3%	53.9%	20.7%	1.9	96.5%
XAUUSD	36.3%	34.6%	29.1%	0.7	98.7%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement.
** On Limit IOC orders with default price tolerance of 0.01% and above.

Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair	0.0 pips*	0.1 – 0.2 pips*	0.3 – 0.6 pips*	0.7 – 1.0 pips*	> 1.1 pips*
AUDUSD	0.0	0.2	0.6	0.7	3.8
EURGBP	0.0	0.2	0.3	0.9	16.3
EURJPY	0.1	0.0	0.5	0.9	2.6
EURUSD	0.1	0.2	0.4	1.0	5.1
GBPJPY	0.1	0.2	0.5	0.0	2.3
GBPUSD	0.1	0.2	0.5	1.0	2.7
NZDUSD	0.0	0.0	0.6	1.0	3.7
USDCAD	0.0	0.2	0.3	1.0	19.6
USDCHF	0.1	0.2	0.5	0.9	1.9
USDJPY	0.1	0.2	0.5	0.9	10.6
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	5.4	0.0	26.7	49.4	1108.6
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	4.6	10.1	18.7	22.1	895.8

* Calculated from the Limit IOC order level.
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance.

Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair	0.0 pips	=< 0.2 pips	=< 0.6 pips	=< 1.0 pips	All
AUDUSD	79.1%	79.2%	83.0%	94.4%	95.0%
EURGBP	91.2%	87.5%	88.2%	99.0%	99.4%
EURJPY	73.2%	73.2%	79.2%	79.7%	98.2%
EURUSD	75.5%	75.9%	76.0%	76.1%	95.8%
GBPJPY	64.0%	65.4%	68.4%	68.4%	95.1%
GBPUSD	76.2%	76.9%	84.8%	85.0%	96.3%
NZDUSD	81.6%	81.6%	96.9%	97.0%	97.7%
USDCAD	73.7%	74.2%	75.3%	75.8%	97.8%
USDCHF	72.6%	75.0%	76.6%	96.0%	96.3%
USDJPY	70.1%	70.8%	72.2%	74.2%	95.9%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	72.2%	72.2%	87.3%	93.5%	94.3%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	61.1%	62.6%	65.7%	82.3%	92.1%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	96.5%
< 100	99.5%
< 250	99.9%
< 500	99.9%
< 1000	100.0%
Average execution speed in milliseconds	15

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	19.2%	58.9%	21.9%	0.0	100.0%
EURGBP	16.3%	66.8%	16.9%	0.0	100.0%
EURJPY	27.8%	46.9%	25.3%	0.0	100.0%
EURUSD	22.0%	55.9%	22.1%	0.0	100.0%
GBPJPY	29.5%	39.5%	31.0%	0.0	100.0%
GBPUSD	22.8%	53.6%	23.6%	0.0	100.0%
NZDUSD	14.4%	70.8%	14.8%	0.0	100.0%
USDCAD	19.8%	57.2%	23.0%	0.0	100.0%
USDCHF	21.1%	58.2%	20.7%	0.0	100.0%
USDJPY	27.9%	40.2%	31.9%	0.0	100.0%
XAGUSD	23.0%	52.4%	24.6%	-0.6	100.0%
XAUUSD	32.0%	34.7%	33.3%	-0.3	100.0%

* Average improvement based on all market orders. Calculated from the indicative market price.

Market Order Execution Speed

Time in milliseconds	Fill Rate
< 50	98.0%
< 100	99.7%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	13

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	83.6%	16.4%	0.2	0.0
EURGBP	87.1%	12.9%	0.3	0.0
EURJPY	63.3%	36.7%	0.2	0.1
EURUSD	82.4%	17.6%	0.3	0.1
GBPJPY	59.7%	40.3%	0.3	0.1
GBPUSD	69.6%	30.4%	0.4	0.1
NZDUSD	79.7%	20.3%	0.7	0.1
USDCAD	83.3%	16.7%	0.4	0.1
USDCHF	73.2%	26.8%	0.5	0.1
USDJPY	75.2%	24.8%	0.4	0.1
XAGUSD	13.7%	86.3%	11.2	9.6
XAUUSD	38.0%	62.0%	4.3	2.6

Limit Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	20.6%	79.4%	0.4	0.1
EURGBP	17.4%	82.6%	0.4	0.1
EURJPY	35.6%	64.4%	0.3	0.1
EURUSD	19.1%	80.9%	0.3	0.1
GBPJPY	44.1%	55.9%	0.2	0.1
GBPUSD	31.9%	68.1%	0.4	0.1
NZDUSD	24.0%	76.0%	0.6	0.1
USDCAD	22.5%	77.5%	0.4	0.1
USDCHF	32.3%	67.7%	0.5	0.1
USDJPY	31.7%	68.3%	0.4	0.1
XAGUSD	80.4%	19.6%	10.5	8.5
XAUUSD	59.3%	40.7%	3.9	2.3

* Average improvement based on limit orders that were Improvement.
** Average improvement based on all limit orders. Calculated from the limit order level.

Limit IOC Order Statistics

Currency Pair	Positive Slippage*	Zero Slippage*	Negative Slippage*	Average Net Slippage (pips)*	Fill Rate**
AUDUSD	21.9%	58.8%	19.4%	0.0	99.1%
EURGBP	19.2%	62.9%	17.9%	0.0	100.0%
EURJPY	31.4%	37.4%	31.2%	0.0	99.8%
EURUSD	25.5%	53.4%	21.0%	0.0	99.5%
GBPJPY	32.6%	34.4%	33.0%	0.0	99.6%
GBPUSD	26.5%	49.8%	23.7%	0.0	99.4%
NZDUSD	22.9%	59.2%	17.9%	0.0	98.9%
USDCAD	24.6%	53.0%	22.4%	0.0	99.9%
USDCHF	27.0%	52.4%	20.6%	0.0	98.9%
USDJPY	31.1%	40.2%	28.7%	0.0	99.1%
XAGUSD	25.3%	54.7%	20.0%	1.4	97.7%
XAUUSD	35.1%	35.5%	29.3%	0.5	99.0%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement.
** On Limit IOC orders with default price tolerance of 0.01% and above.

Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair	0.0 pips*	0.1 – 0.2 pips*	0.3 – 0.6 pips*	0.7 – 1.0 pips*	> 1.1 pips*
AUDUSD	0.1	0.2	0.4	0.7	3.7
EURGBP	0.0	0.2	0.3	0.9	11.5
EURJPY	0.1	0.0	0.4	1.1	2.3
EURUSD	0.1	0.2	0.3	1.0	6.7
GBPJPY	0.2	0.2	0.4	0.0	3.1
GBPUSD	0.1	0.2	0.5	1.0	2.6
NZDUSD	0.0	0.0	0.6	1.0	4.2
USDCAD	0.1	0.2	0.4	0.0	15.7
USDCHF	0.1	0.2	0.0	0.9	1.9
USDJPY	0.1	0.2	0.3	0.9	3.4
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	6.1	0.0	25.6	46.4	816.4
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	3.8	11.6	20.3	21.8	789.4

* Calculated from the Limit IOC order level.
Note:A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance.

Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair	0.0 pips	=< 0.2 pips	=< 0.6 pips	=< 1.0 pips	All
AUDUSD	74.2%	74.3%	74.9%	95.7%	96.3%
EURGBP	84.8%	86.8%	86.8%	98.3%	98.9%
EURJPY	63.3%	63.3%	65.7%	68.2%	98.5%
EURUSD	71.6%	71.9%	72.1%	72.8%	94.1%
GBPJPY	64.8%	66.1%	66.8%	66.8%	96.4%
GBPUSD	66.5%	66.9%	69.7%	80.9%	95.6%
NZDUSD	67.4%	67.4%	97.2%	97.2%	97.8%
USDCAD	74.3%	75.1%	76.4%	76.4%	97.5%
USDCHF	77.8%	78.7%	78.7%	96.6%	96.7%
USDJPY	67.7%	71.1%	71.7%	71.9%	95.9%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	71.3%	71.3%	84.7%	94.3%	94.8%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	60.4%	61.1%	82.0%	83.2%	94.1%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	96.8%
< 100	99.6%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	14

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	22.2%	54.0%	23.8%	0.0	100.0%
EURGBP	17.3%	61.4%	21.2%	0.0	100.0%
EURJPY	28.3%	41.0%	30.7%	0.0	100.0%
EURUSD	23.4%	52.7%	23.9%	0.0	100.0%
GBPJPY	35.1%	30.5%	34.4%	0.0	100.0%
GBPUSD	24.9%	49.3%	25.8%	0.0	100.0%
NZDUSD	20.7%	52.4%	26.9%	0.0	100.0%
USDCAD	22.0%	55.9%	22.1%	0.0	100.0%
USDCHF	23.5%	54.9%	21.6%	0.0	100.0%
USDJPY	29.8%	39.1%	31.1%	0.0	100.0%
XAGUSD	21.7%	54.9%	23.5%	-0.3	100.0%
XAUUSD	29.7%	39.6%	30.7%	-0.1	100.0%

* Average improvement based on all market orders. Calculated from the indicative market price.

Market Order Execution Speed

Time in milliseconds	Fill Rate
< 50	97.9%
< 100	99.7%
< 250	99.9%
< 500	99.9%
< 1000	100.0%
Average execution speed in milliseconds	13

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	80.2%	19.8%	0.5	0.1
EURGBP	87.3%	12.7%	0.3	0.0
EURJPY	72.0%	28.0%	0.2	0.1
EURUSD	81.3%	18.7%	0.3	0.1
GBPJPY	51.7%	48.3%	0.4	0.2
GBPUSD	69.9%	30.1%	0.4	0.1
NZDUSD	74.1%	25.9%	0.5	0.1
USDCAD	80.3%	19.7%	0.6	0.1
USDCHF	74.0%	26.0%	0.9	0.2
USDJPY	74.8%	25.2%	0.5	0.1
XAGUSD	15.2%	84.8%	9.9	8.2
XAUUSD	37.6%	62.4%	6.3	3.9

* Average slippage based on stop orders that were slipped. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering ** Average slippage based on all stop orders. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering.

Resting Limit Order Statistics

Currency Pair	Price improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	20.3%	79.7%	0.6	0.1
EURGBP	16.9%	83.1%	0.3	0.1
EURJPY	28.8%	71.2%	0.3	0.1
EURUSD	19.0%	81.0%	0.4	0.1
GBPJPY	42.9%	57.1%	0.3	0.1
GBPUSD	31.3%	68.7%	0.4	0.1
NZDUSD	28.1%	71.9%	0.8	0.2
USDCAD	20.7%	79.3%	0.4	0.1
USDCHF	30.4%	69.6%	0.7	0.2
USDJPY	30.1%	69.9%	0.5	0.2
XAGUSD	77.9%	22.1%	8.1	6.3
XAUUSD	59.8%	40.2%	5.1	3.1

* Average improvement based on limit orders that were Improvement.
** Average improvement based on all limit orders. Calculated from the limit order level.

Limit IOC Order Statistics

Currency Pair	Positive Slippage*	Zero Slippage*	Negative Slippage*	Average Net Slippage (pips)*	Fill Rate**
AUDUSD	21.5%	59.2%	19.3%	0.0	99.1%
EURGBP	19.6%	63.2%	17.2%	0.0	100.0%
EURJPY	30.9%	38.6%	30.5%	0.0	99.8%
EURUSD	24.7%	54.5%	20.8%	0.0	99.6%
GBPJPY	32.2%	35.0%	32.8%	0.0	99.7%
GBPUSD	26.5%	50.1%	23.5%	0.0	99.5%
NZDUSD	22.8%	59.6%	17.6%	0.0	99.0%
USDCAD	24.1%	54.0%	21.9%	0.0	99.9%
USDCHF	26.7%	53.4%	19.8%	0.0	98.9%
USDJPY	30.8%	41.2%	28.0%	0.0	99.2%
XAGUSD	25.2%	54.9%	19.9%	1.3	97.7%
XAUUSD	34.5%	36.3%	29.2%	0.5	99.2%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement.
** On Limit IOC orders with default price tolerance of 0.01% and above.

Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair	0.0 pips*	0.1 – 0.2 pips*	0.3 – 0.6 pips*	0.7 – 1.0 pips*	> 1.1 pips*
AUDUSD	0.1	0.2	0.4	0.7	3.8
EURGBP	0.0	0.2	0.3	0.9	12.3
EURJPY	0.1	0.0	0.4	1.1	2.3
EURUSD	0.1	0.2	0.3	1.0	6.4
GBPJPY	0.1	0.2	0.4	0.0	3.0
GBPUSD	0.1	0.2	0.5	1.0	2.7
NZDUSD	0.0	0.0	0.6	1.0	4.2
USDCAD	0.1	0.2	0.3	0.0	12.4
USDCHF	0.1	0.2	0.0	0.9	1.9
USDJPY	0.1	0.2	0.3	1.0	3.5
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	6.1	0.0	25.7	46.3	826.4
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	3.5	11.6	20.3	21.7	774.2

* Calculated from the Limit IOC order level.
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance.

Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair	0.0 pips	=< 0.2 pips	=< 0.6 pips	=< 1.0 pips	All
AUDUSD	74.7%	74.9%	75.5%	95.6%	96.2%
EURGBP	84.5%	86.5%	86.6%	98.3%	98.8%
EURJPY	62.7%	62.7%	65.2%	66.7%	98.5%
EURUSD	72.6%	72.9%	73.1%	73.8%	94.6%
GBPJPY	65.7%	67.0%	67.8%	67.8%	96.7%
GBPUSD	66.3%	66.7%	69.4%	80.2%	95.5%
NZDUSD	67.4%	67.4%	97.2%	97.3%	97.8%
USDCAD	77.6%	78.3%	79.5%	79.5%	98.0%
USDCHF	77.8%	78.7%	78.7%	96.6%	96.7%
USDJPY	68.7%	71.8%	72.5%	72.5%	96.0%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	71.3%	71.3%	84.4%	94.3%	94.8%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	61.6%	62.3%	83.3%	84.3%	94.6%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	96.8%
< 100	99.6%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	14

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	24.7%	49.8%	25.4%	0.0	100.0%
EURGBP	16.1%	70.4%	13.6%	0.0	100.0%
EURJPY	29.2%	40.2%	30.6%	0.0	100.0%
EURUSD	24.5%	50.1%	25.4%	0.0	100.0%
GBPJPY	30.2%	34.7%	35.1%	0.0	100.0%
GBPUSD	24.6%	48.7%	26.7%	0.0	100.0%
NZDUSD	20.8%	48.2%	31.0%	0.0	100.0%
USDCAD	23.7%	54.4%	22.0%	0.0	100.0%
USDCHF	22.5%	53.0%	24.5%	0.0	100.0%
USDJPY	28.2%	41.8%	30.0%	0.0	100.0%
XAGUSD	23.2%	53.1%	23.7%	-0.3	100.0%
XAUUSD	32.1%	36.4%	31.5%	-0.1	100.0%

* Average improvement based on all market orders. Calculated from the indicative market price

Market Order Execution Speed

Time in milliseconds	Fill Rate
< 50	98.3%
< 100	99.7%
< 250	100.0%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	12

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	81.9%	18.1%	0.3	0.0
EURGBP	82.5%	17.5%	0.2	0.0
EURJPY	72.2%	27.8%	0.2	0.1
EURUSD	81.6%	18.4%	0.3	0.1
GBPJPY	52.9%	47.1%	0.4	0.2
GBPUSD	67.6%	32.4%	0.6	0.2
NZDUSD	77.7%	22.3%	0.3	0.1
USDCAD	80.8%	19.2%	0.3	0.1
USDCHF	75.4%	24.6%	0.4	0.1
USDJPY	72.3%	27.7%	0.3	0.1
XAGUSD	21.9%	78.1%	9.2	7.0
XAUUSD	38.8%	61.2%	4.9	2.9

Resting Limit Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	19.2%	80.8%	0.3	0.1
EURGBP	17.0%	83.0%	0.5	0.1
EURJPY	33.4%	66.6%	0.2	0.1
EURUSD	19.2%	80.8%	0.3	0.1
GBPJPY	47.4%	52.6%	0.3	0.1
GBPUSD	33.9%	66.1%	0.5	0.2
NZDUSD	22.2%	77.8%	0.4	0.1
USDCAD	21.3%	78.7%	0.4	0.1
USDCHF	29.7%	70.3%	0.7	0.2
USDJPY	34.1%	65.9%	0.3	0.1
XAGUSD	80.2%	19.8%	9.3	7.5
XAUUSD	60.6%	39.4%	4.6	2.8

* Average improvement based on limit orders that were Improvement.
** Average improvement based on all limit orders. Calculated from the limit order level.

Limit IOC Order Statistics

Currency Pair	Positive Slippage*	Zero Slippage*	Negative Slippage*	Average Net Slippage (pips)*	Fill Rate**
AUDUSD	21.7%	57.7%	20.6%	0.0	99.0%
EURGBP	19.5%	61.9%	18.6%	0.0	99.9%
EURJPY	36.0%	33.4%	30.6%	0.0	99.1%
EURUSD	25.6%	54.0%	20.4%	0.0	99.6%
GBPJPY	31.8%	39.3%	28.9%	0.0	99.3%
GBPUSD	25.1%	51.6%	23.3%	0.0	99.4%
NZDUSD	19.5%	64.4%	16.1%	0.0	99.1%
USDCAD	22.8%	56.0%	21.2%	0.0	99.8%
USDCHF	22.9%	56.3%	20.8%	0.0	99.0%
USDJPY	32.1%	40.3%	27.6%	0.0	98.6%
XAGUSD	26.5%	53.3%	20.2%	2.3	96.2%
XAUUSD	36.7%	34.4%	28.9%	0.7	99.0%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement
** On Limit IOC orders with default price tolerance of 0.01% and above.

Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair	0.0 pips*	0.1 – 0.2 pips*	0.3 – 0.6 pips*	0.7 – 1.0 pips*	> 1.1 pips*
AUDUSD	0.1	0.2	0.5	0.7	2.4
EURGBP	0.1	0.2	0.3	0.9	1.9
EURJPY	0.2	0.0	0.3	1.0	2.2
EURUSD	0.1	0.2	0.4	1.0	15.5
GBPJPY	0.1	0.3	0.4	0.9	2.6
GBPUSD	0.1	0.2	0.5	1.0	2.1
NZDUSD	0.1	0.2	0.6	0.0	3.1
USDCAD	0.1	0.2	0.3	1.1	4.9
USDCHF	0.0	0.2	0.0	0.9	1.9
USDJPY	0.2	0.2	0.5	1.0	3.6
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	7.2	0.0	26.8	48.7	1127.2
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	3.8	11.4	20.3	21.8	836.6

* Calculated from the Limit IOC order level
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance.

Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair	0.0 pips	=< 0.2 pips	=< 0.6 pips	=< 1.0 pips	All
AUDUSD	72.7%	73.1%	74.4%	95.7%	96.5%
EURGBP	76.4%	83.6%	84.0%	97.8%	98.4%
EURJPY	57.5%	57.5%	60.4%	62.3%	96.9%
EURUSD	73.0%	73.4%	73.7%	74.4%	94.5%
GBPJPY	56.8%	58.9%	61.3%	61.6%	92.7%
GBPUSD	68.7%	69.2%	72.5%	73.4%	95.7%
NZDUSD	70.8%	71.5%	91.1%	91.1%	92.6%
USDCAD	76.9%	77.1%	78.1%	78.2%	97.4%
USDCHF	67.9%	69.7%	69.7%	96.8%	96.9%
USDJPY	66.9%	69.1%	69.3%	69.7%	94.1%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	75.8%	75.8%	85.9%	92.2%	93.2%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	64.7%	65.0%	78.9%	81.9%	93.6%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	95.9%
< 100	99.4%
< 250	99.9%
< 500	99.9%
< 1000	100.0%
Average execution speed in milliseconds	15

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative slippage	Average Net Improvement*	Fill Rate
AUDUSD	25.1%	49.7%	25.2%	0.0	100.0%
EURGBP	14.2%	68.8%	17.0%	0.0	100.0%
EURJPY	31.7%	38.1%	30.1%	0.0	100.0%
EURUSD	23.8%	50.9%	25.3%	0.0	100.0%
GBPJPY	29.6%	35.8%	34.7%	-0.1	100.0%
GBPUSD	25.0%	49.2%	25.8%	0.0	100.0%
NZDUSD	16.3%	44.6%	39.1%	-0.1	100.0%
USDCAD	20.2%	56.7%	23.0%	0.0	100.0%
USDCHF	20.0%	58.8%	21.2%	0.0	100.0%
USDJPY	29.7%	37.1%	33.2%	0.0	100.0%
XAGUSD	25.0%	52.0%	23.0%	0.3	100.0%
XAUUSD	33.9%	32.6%	33.4%	-0.1	100.0%

* Average improvement based on all market orders. Calculated from the indicative market price.

Market Order Execution Speed

Time in milliseconds	Fill Rate
< 50	98.6%
< 100	99.7%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	12

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	81.5%	18.5%	0.2	0.0
EURGBP	84.0%	16.0%	0.3	0.0
EURJPY	66.4%	33.6%	0.4	0.1
EURUSD	82.1%	17.9%	0.3	0.0
GBPJPY	51.4%	48.6%	0.4	0.2
GBPUSD	70.9%	29.1%	0.3	0.1
NZDUSD	75.3%	24.7%	0.3	0.1
USDCAD	82.6%	17.4%	0.2	0.0
USDCHF	76.5%	23.5%	0.4	0.1
USDJPY	71.4%	28.6%	0.4	0.1
XAGUSD	16.6%	83.4%	9.5	7.8
XAUUSD	35.2%	64.8%	4.4	2.7

Resting Limit Order Statistics

Currency Pair	Price improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	22.0%	78.0%	0.4	0.1
EURGBP	23.4%	76.6%	0.5	0.1
EURJPY	39.7%	60.3%	0.3	0.1
EURUSD	17.3%	82.7%	0.3	0.1
GBPJPY	56.2%	43.8%	0.4	0.2
GBPUSD	30.8%	69.2%	0.6	0.2
NZDUSD	26.9%	73.1%	0.6	0.2
USDCAD	21.6%	78.4%	0.5	0.1
USDCHF	28.1%	71.9%	0.7	0.2
USDJPY	36.2%	63.8%	0.3	0.1
XAGUSD	84.7%	15.3%	9.1	7.7
XAUUSD	62.6%	37.4%	4.9	3.1

* Average improvement based on limit orders that were Improvement.
** Average improvement based on all limit orders. Calculated from the limit order level

Limit IOC Order Statistics

Currency Pair	Positive Slippage*	Zero Slippage*	Negative Slippage*	Average Net Slippage (pips)*	Fill Rate***
AUDUSD	22.4%	60.9%	16.7%	0.0	99.2%
EURGBP	20.2%	63.4%	16.5%	0.0	99.9%
EURJPY	30.4%	42.9%	26.8%	0.0	99.9%
EURUSD	23.1%	56.4%	20.5%	0.0	99.4%
GBPJPY	29.3%	43.3%	27.4%	0.0	99.7%
GBPUSD	25.1%	52.8%	22.1%	0.0	99.5%
NZDUSD	22.0%	63.2%	14.8%	0.0	99.7%
USDCAD	23.9%	54.9%	21.2%	0.0	99.8%
USDCHF	22.0%	57.9%	20.1%	0.0	99.4%
USDJPY	24.1%	54.3%	21.6%	0.0	99.6%
XAGUSD	24.7%	56.7%	18.6%	1.8	96.2%
XAUUSD	34.9%	36.3%	28.8%	0.5	99.2%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement
** On Limit IOC orders with default price tolerance of 0.01% and above.

Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair	0.0 pips*	0.1 – 0.2 pips*	0.3 – 0.6 pips*	0.7 – 1.0 pips*	> 1.1 pips*
AUDUSD	0.1	0.2	0.6	0.7	2.5
EURGBP	0.0	0.2	0.0	0.9	2.6
EURJPY	0.1	0.0	0.3	1.0	2.3
EURUSD	0.1	0.2	0.5	1.0	5.7
GBPJPY	0.1	0.2	0.3	0.0	2.2
GBPUSD	0.1	0.2	0.5	1.0	2.2
NZDUSD	0.1	0.0	0.6	0.9	2.4
USDCAD	0.1	0.3	0.3	1.0	4.2
USDCHF	0.1	0.4	0.3	0.9	1.8
USDJPY	0.1	0.2	0.6	1.0	2.8
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	5.3	0.0	26.6	47.3	1731.3
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	3.0	9.3	20.2	25.0	161.7

* Calculated from the Limit IOC order level
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance.

Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair	0.0 pips	=< 0.2 pips	=< 0.6 pips	=< 1.0 pips	All
AUDUSD	75.8%	76.0%	88.9%	92.2%	93.5%
EURGBP	75.5%	78.3%	78.3%	98.6%	99.0%
EURJPY	69.0%	69.0%	71.1%	72.0%	98.6%
EURUSD	73.3%	73.9%	74.2%	76.3%	95.6%
GBPJPY	69.5%	71.7%	75.7%	75.7%	97.5%
GBPUSD	70.9%	71.3%	74.0%	80.4%	96.1%
NZDUSD	71.2%	71.2%	86.2%	86.2%	89.5%
USDCAD	68.5%	69.2%	70.0%	72.2%	95.1%
USDCHF	75.9%	76.1%	76.3%	97.9%	98.3%
USDJPY	73.5%	75.3%	76.0%	77.7%	96.3%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	75.6%	75.6%	85.7%	91.9%	92.7%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	63.8%	64.0%	88.0%	88.0%	95.3%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	96.8%
< 100	99.6%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	14

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	22.1%	55.3%	22.6%	0.0	100.0%
EURGBP	13.3%	67.6%	19.1%	0.0	100.0%
EURJPY	26.1%	45.8%	28.1%	0.0	100.0%
EURUSD	23.2%	53.8%	23.0%	0.0	100.0%
GBPJPY	27.4%	42.0%	30.5%	0.0	100.0%
GBPUSD	23.4%	52.1%	24.5%	0.0	100.0%
NZDUSD	20.1%	60.2%	19.8%	0.0	100.0%
USDCAD	23.1%	53.7%	23.2%	0.0	100.0%
USDCHF	19.1%	62.0%	18.9%	0.0	100.0%
USDJPY	24.8%	49.0%	26.2%	0.0	100.0%
XAGUSD	21.9%	57.5%	20.6%	0.1	100.0%
XAUUSD	32.1%	36.3%	31.6%	-0.1	100.0%

* Average improvement based on all market orders. Calculated from the indicative market price.

Market Order Execution Speed

Time in milliseconds	Fill Rate
< 50	98.8%
< 100	99.8%
< 250	100.0%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	10

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	79.5%	20.5%	0.4	0.1
EURGBP	80.0%	20.0%	0.4	0.1
EURJPY	69.3%	30.7%	0.2	0.1
EURUSD	79.7%	20.3%	0.3	0.1
GBPJPY	57.3%	42.7%	0.3	0.1
GBPUSD	69.5%	30.5%	0.4	0.1
NZDUSD	78.8%	21.2%	0.3	0.1
USDCAD	80.2%	19.8%	0.3	0.1
USDCHF	72.2%	27.8%	0.4	0.1
USDJPY	72.2%	27.8%	0.3	0.1
XAGUSD	12.7%	87.3%	14.2	12.2
XAUUSD	37.8%	62.2%	6.9	3.4

Resting Limit Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	21.3%	78.7%	0.3	0.1
EURGBP	21.5%	78.5%	0.3	0.1
EURJPY	32.7%	67.3%	0.3	0.1
EURUSD	19.6%	80.4%	0.3	0.1
GBPJPY	42.0%	58.0%	0.4	0.2
GBPUSD	33.0%	67.0%	0.5	0.2
NZDUSD	25.7%	74.3%	0.3	0.1
USDCAD	20.6%	79.4%	0.2	0.0
USDCHF	25.8%	74.2%	0.3	0.1
USDJPY	33.6%	66.4%	0.3	0.1
XAGUSD	82.6%	17.4%	21.0	17.4
XAUUSD	60.0%	40.0%	5.1	3.0

* Average improvement based on limit orders that were Improvement.
** Average improvement based on all limit orders. Calculated from the limit order level.

Market Order

A Market order is a traditional ‘at best’ instruction to trade as much of the order as possible on the best available terms in the market. A Market order will be treated as good for the day. If Saxo believes it is able to execute a Market order immediately from its own liquidity then it will do so. Otherwise it will route the order to a third party to attempt execution. If the order cannot be filled in full immediately, Saxo will continue to work the order until the official close of the relevant market.

Immediate or Cancel (IOC) Market Order

An Immediate or Cancel (IOC) Market order is similar to a standard Market order (described above). It is an instruction to trade immediately on the best available terms, however Saxo will not continue to work the order if it is unable to fill it immediately. If Saxo believes it is able to execute a Market IOC order immediately from its own liquidity then it will do so, otherwise it will route the order to a third party to attempt execution. Where an order has not been filled immediately it will be cancelled.

Immediate or Cancel (IOC) Limit Order

An Immediate or Cancel (IOC) Limit order is an order to trade at the price that you see on your screen if it is still available subject to a defined tolerance. Tolerance enables you to control price range by defining the minimum price differential (when selling) or the maximum price differential (when buying) that you are comfortable accepting. Tolerance can be specified either as a fixed price increment or as a percentage of the current market price. Saxo may fill the order at a worse price than you had seen on the screen, provided the price difference does not exceed the specified tolerance. If a better price is available, Saxo will give you the full benefit of the available improvement by filling the order at the better price. As with a Market IOC order, if Saxo is unable to supply sufficient liquidity from its own book, then it may route the order externally. Where an order has not been filled immediately it will be cancelled.

Limit Order

A Limit order is an order to trade at a specified price or better if it is possible to do so within a specified time. The following order durations are available:

Day Order (DO): Valid until the official close of trading on the day the order is placed (or on the subsequent business day for orders accepted during the weekend).
Good Till Date (GTD): Valid until the official close of trading on a date of the your choice.
Good Till Cancelled (GTC): Valid indefinitely unless or until specifically cancelled by the you.

A Limit order will be triggered when the market price reaches the limit price. If Saxo believes it is able to execute a Limit order immediately from its own liquidity then it will do so. Otherwise it will route the order to a third party to attempt execution. At any time when there is not enough liquidity available from Saxo’s own book or externally, to fill the order in full at the specified price or better, the remaining order will revert to a ‘resting order’.

Stop Order

A Stop order is usually used to close a position when the market is going against it with a view to prevent further losses. It may also be used to open a position when the market moves through a chosen level. A Stop order may have a duration similar to a Limit order (see above). A Stop order placed to buy is treated as a Stop if Bid. A Stop order placed to sell is treated as a Stop if Offer.

A Stop order to sell will be triggered when the offer price reaches the specified price level. Once triggered, the order will be treated as a Market order.
A Stop order to buy will be triggered when the bid price reaches the specified price level. Once triggered, the order will be treated as a Market order.

This arrangement is designed to protect you from the risk that a Stop order is executed as a result of spreads widening without the market actually moving. This can happen around the release of economic statistics or at times of reduced liquidity such as during a value date roll or during the close and opening of the market. You should note that this means a Stop order will never be executed at their specified level but always at the spread away from the stop level. Where an order is attached to an open position, it will automatically be cancelled if the position is closed. The trigger level for a Stop order can be specified to trail the market. In this case, when the market moves in your favour, the trigger level for the order moves the same way. The trigger level for a trailing stop moves in steps which are defined when the order is placed.

Stop Limit Order

A Stop Limit order rests in the same way as a Stop order. However, once triggered, rather than execute at the next available price it converts to a Limit order at a pre-agreed Limit price. From that point on, the order is treated as a Limit order. This type of order gives you some protection from a bad fill in a gapping or illiquid market. Trailing Stop Limit orders are not available.

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Order driven execution statistics

October 2024

Limit IOC Order Statistics

Limit IOC Order Average Improvement *, by price tolerance setting

Limit IOC Order Fill Rate, by price tolerance setting

Limit IOC Order Execution Speed

Market Order Statistics

Market Order Execution Speed

Resting Stop Order Statistics

Resting Limit Order Statistics

September 2024

Limit IOC Order Statistics

Limit IOC Order Average Improvement *, by price tolerance setting

Limit IOC Order Fill Rate, by price tolerance setting

Limit IOC Order Execution Speed

Market Order Statistics

Market Order Execution Speed

Resting Stop Order Statistics

Resting Limit Order Statistics

August 2024

Limit IOC Order Statistics

Limit IOC Order Average Improvement *, by price tolerance setting

Limit IOC Order Fill Rate, by price tolerance setting

Limit IOC Order Execution Speed

Market Order Statistics

Market Order Execution Speed

Resting Stop Order Statistics

Resting Limit Order Statistics

July 2024

Limit IOC Order Statistics

Limit IOC Order Average Improvement *, by price tolerance setting

Limit IOC Order Fill Rate, by price tolerance setting

Limit IOC Order Execution Speed

Market Order Statistics

Market Order Execution Speed

Resting Stop Order Statistics

Resting Limit Order Statistics

June 2024

Limit IOC Order Statistics

Limit IOC Order Average Improvement *, by price tolerance setting

Limit IOC Order Fill Rate, by price tolerance setting

Limit IOC Order Execution Speed

Market Order Statistics

Market Order Execution Speed

Resting Stop Order Statistics

Resting Limit Order Statistics

May 2024

Limit IOC Order Statistics

Limit IOC Order Average Improvement *, by price tolerance setting

Limit IOC Order Fill Rate, by price tolerance setting

Limit IOC Order Execution Speed

Market Order Statistics

Market Order Execution Speed

Resting Stop Order Statistics

Resting Limit Order Statistics

April 2024

Limit IOC Order Statistics

Limit IOC Order Average Improvement *, by price tolerance setting

Limit IOC Order Fill Rate, by price tolerance setting

Limit IOC Order Execution Speed

Market Order Statistics

Market Order Execution Speed

Resting Stop Order Statistics

Resting Limit Order Statistics

March 2024

Limit IOC Order Statistics

Limit IOC Order Average Improvement *, by price tolerance setting

Limit IOC Order Fill Rate, by price tolerance setting

Limit IOC Order Execution Speed

Market Order Statistics

Market Order Execution Speed

Resting Stop Order Statistics

Limit Order Statistics

February 2024

Limit IOC Order Statistics