FXOptimax has updated some of its execution settings as follows:
- Market Order (BUY/SELL), Stop/Limit (BUY/SELL), Take Profit, Stop Loss : Limit IOC with maximum slippage of 25 pips
- Stopout order : Market IOC
Limit IOC (Immediate or Cancel) with maximum 25 pips means the maximum slippage accepted by execution bridge is 25 pips from the price at the moment the bridge send the order to LP (for negative slippage only). For example:
- A Client sends Market Order/Pending Order and it is triggered at MT4
- Bridge sends LIMIT IOC order based on current price at liquidity provider
- If the available price is worsening by 25 pips or more, it will be rejected, the order will not be executed. The pending order will remains at MT4 and client will have to remove it manually.
In most cases, the price at example #1 and #2 are the same, or just slightly differ. However in rare occasion, it can differ wider than expected, causing our 25 pips slippage protection is not working as expected. In such extreme occasion, Stop Order (Buy Stop,Sell Stop, Stop Loss) will flash yellow, but it may not be executed automatically because the available price is worse by 25 pips or more from the price sent by bridge. If this is the case, our secondary stop loss monitoring system will execute the stop loss at current market price.
FXOptimax is constantly trying to improve the depth of its liquidity. However, such protection is considered necessary to both protect our customers and the company itself.
Should you require further explanation on these updates, please feel free to email us at firstname.lastname@example.org.