Order driven execution statistics

Maximise the value of every trade with the potential for price improvements. 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 commitment to increased transparency and delivery of fair outcomes to clients, Saxo Markets has taken the initiative to publish it's 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 Markets’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 published on a monthly basis, for Saxo Markets’s most traded FX spot currency pairs:

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	32.2%	40.8%	26.9%	0.0	99.3%
EURGBP	25.2%	49.2%	25.6%	0.0	99.8%
EURJPY	34.7%	35.3%	30.0%	0.0	99.4%
EURUSD	27.8%	48.9%	23.4%	0.0	99.4%
GBPJPY	38.2%	32.3%	29.5%	0.1	99.7%
GBPUSD	32.4%	38.5%	29.1%	0.0	99.1%
NZDUSD	29.3%	43.2%	27.5%	0.0	99.3%
USDCAD	32.4%	38.2%	29.4%	0.0	99.9%
USDCHF	26.7%	50.0%	23.3%	0.0	99.3%
USDJPY	34.3%	33.9%	31.7%	0.0	98.9%
XAGUSD	21.0%	65.6%	13.4%	2.5	98.2%
XAUUSD	35.5%	35.2%	29.3%	0.3	99.4%

* 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	3.0
EURGBP	0.1	0.2	0.0	0.9	2.7
EURJPY	0.2	0.0	0.0	1.2	1.8
EURUSD	0.1	0.2	0.5	1.0	6.6
GBPJPY	0.3	0.2	0.0	0.0	4.5
GBPUSD	0.1	0.2	0.6	1.1	2.1
NZDUSD	0.1	0.3	0.6	0.7	1.7
USDCAD	0.1	0.2	0.4	1.0	4.7
USDCHF	0.1	0.2	0.0	0.9	4.4
USDJPY	0.2	0.2	0.3	1.1	2.8
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	5.2	12.0	27.1	49.4	2705.3
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	3.3	8.0	19.0	0.0	212.9

* 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	83.3%	83.4%	83.4%	96.9%	97.5%
EURGBP	95.2%	95.9%	96.2%	99.7%	99.7%
EURJPY	84.4%	84.4%	85.2%	85.9%	98.7%
EURUSD	82.7%	82.8%	83.0%	90.6%	97.3%
GBPJPY	93.8%	93.8%	93.8%	94.0%	98.9%
GBPUSD	83.7%	83.8%	88.1%	88.7%	97.2%
NZDUSD	77.6%	78.4%	97.2%	97.2%	97.4%
USDCAD	87.6%	87.7%	88.4%	92.7%	99.4%
USDCHF	86.6%	86.8%	86.8%	98.4%	98.4%
USDJPY	83.1%	83.4%	83.7%	84.5%	98.0%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	91.6%	91.6%	94.1%	97.2%	97.7%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	81.8%	83.2%	94.1%	94.1%	98.4%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	98.3%
< 100	99.7%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	12

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	30.2%	39.0%	30.7%	0.0	100.0%
EURGBP	21.5%	54.0%	24.5%	0.0	100.0%
EURJPY	33.2%	35.1%	31.7%	0.0	100.0%
EURUSD	25.9%	47.1%	26.9%	0.0	100.0%
GBPJPY	32.4%	32.9%	34.7%	0.0	100.0%
GBPUSD	31.3%	36.2%	32.5%	0.0	100.0%
NZDUSD	29.2%	39.1%	31.7%	0.0	100.0%
USDCAD	29.6%	40.1%	30.4%	0.0	100.0%
USDCHF	24.7%	51.0%	24.3%	0.0	100.0%
USDJPY	31.6%	34.2%	34.2%	0.0	100.0%
XAGUSD	17.5%	62.5%	20.1%	-1.1	100.0%
XAUUSD	33.3%	36.6%	30.1%	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	98.7%
< 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	73.5%	26.5%	0.2	0.1
EURGBP	79.8%	20.2%	0.1	0.0
EURJPY	67.3%	32.7%	0.3	0.1
EURUSD	79.0%	21.0%	0.3	0.1
GBPJPY	53.9%	46.1%	0.3	0.1
GBPUSD	67.6%	32.4%	0.4	0.1
NZDUSD	70.0%	30.0%	0.2	0.1
USDCAD	73.0%	27.0%	0.3	0.1
USDCHF	73.2%	26.8%	0.5	0.1
USDJPY	65.5%	34.5%	0.3	0.1
XAGUSD	9.3%	90.7%	13.1	11.8
XAUUSD	38.3%	61.7%	10.3	5.2

* 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	24.4%	75.6%	0.2	0.1
EURGBP	21.8%	78.2%	0.2	0.0
EURJPY	34.7%	65.3%	0.3	0.1
EURUSD	20.6%	79.4%	0.3	0.1
GBPJPY	51.8%	48.2%	0.4	0.2
GBPUSD	34.9%	65.1%	0.3	0.1
NZDUSD	29.3%	70.7%	0.2	0.1
USDCAD	26.4%	73.6%	0.2	0.1
USDCHF	29.4%	70.6%	0.4	0.1
USDJPY	38.7%	61.3%	0.3	0.1
XAGUSD	76.2%	23.8%	11.4	8.7
XAUUSD	60.6%	39.4%	7.4	4.5

* 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	29.7%	43.5%	26.7%	0.0	99.3%
EURGBP	26.7%	47.5%	25.7%	0.0	99.8%
EURJPY	35.9%	31.6%	32.5%	0.0	99.4%
EURUSD	29.1%	46.2%	24.6%	0.0	99.4%
GBPJPY	36.9%	33.8%	29.3%	0.0	99.7%
GBPUSD	35.7%	35.3%	29.0%	0.1	99.1%
NZDUSD	25.7%	50.5%	23.8%	0.0	99.3%
USDCAD	34.0%	35.1%	30.9%	0.0	99.9%
USDCHF	27.5%	50.0%	22.5%	0.0	99.3%
USDJPY	33.5%	36.0%	30.5%	0.0	98.9%
XAGUSD	23.0%	59.7%	17.4%	2.2	98.2%
XAUUSD	35.1%	36.8%	28.1%	0.6	99.4%

* 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	0.1	0.0	0.7	2.3
EURGBP	0.1	0.2	0.3	0.9	2.5
EURJPY	0.1	0.0	0.5	1.0	1.9
EURUSD	0.1	0.2	0.5	1.0	15.9
GBPJPY	0.2	0.5	0.3	1.0	2.1
GBPUSD	0.2	0.2	0.6	1.0	1.9
NZDUSD	0.1	0.2	0.6	0.6	1.4
USDCAD	0.2	0.3	0.3	1.0	6.9
USDCHF	0.1	0.4	0.0	0.9	5.9
USDJPY	0.2	0.3	0.5	1.2	3.3
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	4.1	0.0	26.4	48.3	783.0
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	3.2	7.1	18.5	0.0	171.7

* 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	83.3%	83.4%	83.4%	96.9%	97.5%
EURGBP	95.2%	95.9%	96.2%	99.7%	99.7%
EURJPY	84.4%	84.4%	85.2%	85.9%	98.7%
EURUSD	82.7%	82.8%	83.0%	90.6%	97.3%
GBPJPY	93.8%	93.8%	93.8%	94.0%	98.9%
GBPUSD	83.7%	83.8%	88.1%	88.7%	97.2%
NZDUSD	77.6%	78.4%	97.2%	97.2%	97.4%
USDCAD	87.6%	87.7%	88.4%	92.7%	99.4%
USDCHF	86.6%	86.8%	86.8%	98.4%	98.4%
USDJPY	83.1%	83.4%	83.7%	84.5%	98.0%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	91.6%	91.6%	94.1%	97.2%	97.7%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	81.8%	83.2%	94.1%	94.1%	98.4%

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	29.6%	41.2%	29.2%	0.0	100.0%
EURGBP	22.7%	52.9%	24.4%	0.0	100.0%
EURJPY	35.9%	30.1%	34.0%	0.0	100.0%
EURUSD	28.0%	43.4%	28.6%	0.0	100.0%
GBPJPY	34.0%	29.7%	36.3%	0.0	100.0%
GBPUSD	32.0%	35.8%	32.2%	0.0	100.0%
NZDUSD	27.7%	46.8%	25.5%	0.0	100.0%
USDCAD	30.4%	39.6%	30.0%	0.0	100.0%
USDCHF	24.5%	48.2%	27.3%	0.0	100.0%
USDJPY	31.6%	35.6%	32.8%	0.0	100.0%
XAGUSD	20.0%	59.2%	20.9%	-0.8	100.0%
XAUUSD	32.2%	37.2%	30.6%	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	99.0%
< 100	99.8%
< 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	76.0%	24.0%	0.8	0.2
EURGBP	81.3%	18.7%	0.3	0.1
EURJPY	70.5%	29.5%	0.5	0.1
EURUSD	79.3%	20.7%	0.6	0.1
GBPJPY	55.5%	44.5%	0.4	0.2
GBPUSD	63.6%	36.4%	1.0	0.4
NZDUSD	71.3%	28.7%	0.4	0.1
USDCAD	73.5%	26.5%	0.4	0.1
USDCHF	66.8%	33.2%	0.5	0.2
USDJPY	64.9%	35.1%	0.5	0.2
XAGUSD	9.6%	90.4%	23.0	20.6
XAUUSD	38.1%	61.9%	42.5	26.3

* 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	26.4%	73.6%	0.5	0.1
EURGBP	23.5%	76.5%	0.2	0.1
EURJPY	37.1%	62.9%	0.4	0.1
EURUSD	21.9%	78.1%	0.4	0.1
GBPJPY	50.9%	49.1%	0.5	0.3
GBPUSD	34.0%	66.0%	0.3	0.1
NZDUSD	30.0%	70.0%	0.4	0.1
USDCAD	26.8%	73.2%	0.3	0.1
USDCHF	31.4%	68.6%	0.4	0.1
USDJPY	40.6%	59.4%	0.5	0.2
XAGUSD	76.3%	23.7%	11.4	8.7
XAUUSD	58.2%	41.8%	6.5	3.8

* 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	34.7%	40.1%	25.2%	0.0	97.2%
EURGBP	32.0%	43.2%	24.8%	0.0	98.3%
EURJPY	36.9%	30.9%	32.2%	0.0	99.0%
EURUSD	32.8%	41.2%	26.0%	0.0	98.7%
GBPJPY	37.0%	28.1%	34.9%	0.0	95.5%
GBPUSD	36.4%	32.1%	31.5%	0.0	94.7%
NZDUSD	27.7%	46.7%	25.6%	0.0	96.2%
USDCAD	34.9%	33.6%	31.5%	0.0	99.0%
USDCHF	29.2%	47.7%	23.1%	0.0	98.9%
USDJPY	35.8%	31.2%	33.0%	0.0	97.6%
XAGUSD	22.2%	61.4%	16.4%	2.2	94.3%
XAUUSD	36.6%	35.6%	27.9%	0.6	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	0.1	0.6	0.7	6.5
EURGBP	0.1	0.4	0.0	0.9	3.9
EURJPY	0.1	0.0	0.0	0.0	1.8
EURUSD	0.1	0.3	0.5	1.0	75.4
GBPJPY	0.3	0.0	0.0	0.8	2.3
GBPUSD	0.2	0.5	0.6	0.9	1.6
NZDUSD	0.1	0.2	0.6	1.0	1.7
USDCAD	0.2	0.3	0.3	0.0	5.4
USDCHF	0.1	0.2	0.0	1.0	3.5
USDJPY	0.2	0.8	0.2	1.2	3.7
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	7.3	0.0	24.3	43.4	136.1
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	3.9	4.4	17.8	0.0	203.0

* 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	71.9%	71.6%	80.6%	89.7%	91.3%
EURGBP	74.8%	74.5%	74.5%	95.3%	95.6%
EURJPY	77.6%	77.6%	77.6%	77.6%	97.7%
EURUSD	67.3%	67.6%	67.8%	91.5%	92.9%
GBPJPY	75.1%	75.1%	75.1%	68.5%	94.2%
GBPUSD	59.0%	59.2%	66.7%	74.7%	90.7%
NZDUSD	70.2%	71.2%	93.6%	93.8%	94.3%
USDCAD	72.4%	73.2%	73.4%	73.4%	97.6%
USDCHF	70.4%	71.1%	71.1%	95.7%	95.9%
USDJPY	73.5%	73.4%	73.4%	74.0%	96.0%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	82.2%	82.2%	84.7%	91.0%	92.9%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	62.6%	62.8%	83.4%	83.4%	95.1%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	98.3%
< 100	99.8%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	17

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative slippage	Average Net Improvement*	Fill Rate
AUDUSD	30.5%	37.3%	32.2%	0.0	100.0%
EURGBP	25.6%	45.5%	28.9%	0.0	100.0%
EURJPY	34.2%	32.4%	33.5%	0.0	100.0%
EURUSD	29.1%	39.8%	31.1%	0.0	100.0%
GBPJPY	33.7%	28.9%	37.4%	0.0	100.0%
GBPUSD	34.0%	31.8%	34.2%	0.0	100.0%
NZDUSD	28.1%	44.0%	27.9%	0.0	100.0%
USDCAD	32.1%	35.2%	32.7%	0.0	100.0%
USDCHF	27.4%	45.8%	26.7%	0.0	100.0%
USDJPY	33.9%	30.7%	35.4%	0.0	100.0%
XAGUSD	21.0%	57.6%	21.3%	-0.2	100.0%
XAUUSD	33.8%	36.7%	29.4%	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	98.5%
< 100	99.7%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	16

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	75.2%	24.8%	0.4	0.1
EURGBP	81.9%	18.1%	0.2	0.0
EURJPY	74.4%	25.6%	0.2	0.0
EURUSD	77.8%	22.2%	0.3	0.1
GBPJPY	52.5%	47.5%	0.3	0.2
GBPUSD	66.6%	33.4%	0.3	0.1
NZDUSD	72.6%	27.4%	0.3	0.1
USDCAD	75.7%	24.3%	0.2	0.0
USDCHF	70.5%	29.5%	0.2	0.1
USDJPY	62.1%	37.9%	0.3	0.1
XAGUSD	8.5%	91.5%	12.0	10.9
XAUUSD	43.5%	56.5%	4.3	2.4

Resting Limit Order Statistics

Currency Pair	Price improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	29.0%	71.0%	0.5	0.1
EURGBP	26.2%	73.8%	0.2	0.1
EURJPY	34.6%	65.4%	0.9	0.3
EURUSD	24.2%	75.8%	0.7	0.2
GBPJPY	56.2%	43.8%	0.5	0.3
GBPUSD	35.0%	65.0%	0.3	0.1
NZDUSD	28.7%	71.3%	2.6	0.7
USDCAD	26.5%	73.5%	0.3	0.1
USDCHF	31.8%	68.2%	0.6	0.2
USDJPY	37.0%	63.0%	1.5	0.6
XAGUSD	76.9%	23.1%	12.5	9.6
XAUUSD	57.1%	42.9%	14.7	8.4

* 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	35.2%	39.7%	25.2%	0.0	97.1%
EURGBP	34.1%	37.2%	28.7%	0.0	98.4%
EURJPY	37.1%	29.4%	33.6%	0.0	98.7%
EURUSD	33.6%	38.6%	27.7%	0.0	98.6%
GBPJPY	39.0%	27.4%	33.7%	0.1	96.8%
GBPUSD	38.3%	29.1%	32.7%	0.1	96.6%
NZDUSD	31.0%	40.8%	28.1%	0.0	97.1%
USDCAD	36.6%	29.9%	33.5%	0.0	99.2%
USDCHF	29.4%	42.9%	27.7%	0.0	98.7%
USDJPY	33.8%	35.4%	30.8%	0.1	96.5%
XAGUSD	21.3%	64.8%	13.8%	2.8	93.6%
XAUUSD	37.4%	32.7%	29.8%	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	0.6	0.7	6.6
EURGBP	0.1	0.2	0.0	0.9	4.2
EURJPY	0.2	0.0	0.0	1.0	1.8
EURUSD	0.1	0.2	0.4	1.0	53.7
GBPJPY	0.3	0.2	0.0	1.2	3.0
GBPUSD	0.2	0.3	0.6	1.0	1.8
NZDUSD	0.1	0.0	0.6	1.0	1.5
USDCAD	0.2	0.2	0.4	0.0	3.9
USDCHF	0.1	0.3	0.0	1.0	3.5
USDJPY	0.2	0.3	0.3	1.1	4.3
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	7.4	0.0	24.3	41.7	313.1
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	3.9	4.6	17.1	27.3	292.9

* 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	65.3%	65.5%	88.7%	89.1%	90.4%
EURGBP	70.4%	71.2%	71.2%	95.6%	95.9%
EURJPY	50.0%	50.0%	50.0%	52.0%	96.9%
EURUSD	63.6%	63.8%	64.1%	90.8%	92.2%
GBPJPY	63.5%	63.8%	63.8%	73.2%	95.7%
GBPUSD	62.1%	62.3%	64.1%	65.2%	93.6%
NZDUSD	67.2%	67.2%	94.7%	94.8%	95.5%
USDCAD	66.5%	66.6%	73.8%	73.8%	98.0%
USDCHF	62.3%	63.9%	63.9%	94.8%	95.2%
USDJPY	65.2%	65.3%	65.4%	66.4%	94.1%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	76.6%	76.6%	84.5%	90.4%	92.0%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	61.6%	61.7%	84.5%	84.5%	95.0%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	98.1%
< 100	99.7%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	18

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	30.8%	37.6%	31.6%	0.0	100.0%
EURGBP	29.3%	35.7%	35.0%	0.0	100.0%
EURJPY	36.4%	27.3%	36.3%	0.0	100.0%
EURUSD	32.2%	35.0%	32.8%	0.0	100.0%
GBPJPY	37.4%	26.4%	36.2%	0.0	100.0%
GBPUSD	34.6%	29.1%	36.3%	0.0	100.0%
NZDUSD	28.5%	42.7%	28.8%	0.0	100.0%
USDCAD	35.8%	31.1%	33.1%	0.0	100.0%
USDCHF	29.0%	41.6%	29.4%	0.0	100.0%
USDJPY	32.6%	33.3%	34.1%	0.0	100.0%
XAGUSD	19.9%	59.9%	20.2%	-0.3	100.0%
XAUUSD	33.5%	34.3%	32.2%	-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	17

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	78.9%	21.1%	0.3	0.06
EURGBP	72.6%	27.4%	0.4	0.10
EURJPY	62.4%	37.6%	0.3	0.13
EURUSD	80.0%	20.0%	0.2	0.04
GBPJPY	44.7%	55.3%	0.4	0.19
GBPUSD	62.3%	37.7%	0.3	0.09
NZDUSD	83.2%	16.8%	0.2	0.04
USDCAD	77.5%	22.5%	0.6	0.13
USDCHF	70.7%	29.3%	0.2	0.06
USDJPY	52.7%	47.3%	0.6	0.25
XAGUSD	7.3%	92.7%	13.1	12.04
XAUUSD	40.0%	60.0%	5.3	2.98

Resting Limit Order Statistics

Currency Pair	Price improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	22.9%	77.1%	0.3	0.1
EURGBP	32.6%	67.4%	0.3	0.1
EURJPY	36.2%	63.8%	0.5	0.2
EURUSD	23.8%	76.2%	0.6	0.1
GBPJPY	60.0%	40.0%	0.4	0.3
GBPUSD	40.2%	59.8%	0.4	0.1
NZDUSD	25.9%	74.1%	0.9	0.2
USDCAD	24.5%	75.5%	0.4	0.1
USDCHF	32.9%	67.1%	0.4	0.1
USDJPY	50.4%	49.6%	1.1	0.5
XAGUSD	77.2%	22.8%	13.7	10.6
XAUUSD	56.8%	43.2%	10.8	6.1

* 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	31.4%	44.0%	24.6%	0.0	98.3%
EURGBP	31.2%	43.2%	25.6%	0.0	98.4%
EURJPY	40.0%	26.4%	33.6%	0.0	98.4%
EURUSD	33.6%	38.6%	27.8%	0.0	98.2%
GBPJPY	40.8%	24.3%	34.9%	0.1	96.4%
GBPUSD	37.2%	31.4%	31.5%	0.1	95.2%
NZDUSD	28.7%	47.4%	23.9%	0.0	97.8%
USDCAD	35.0%	35.6%	29.4%	0.0	99.6%
USDCHF	28.0%	44.8%	27.2%	0.0	98.3%
USDJPY	35.9%	32.4%	31.7%	0.0	97.4%
XAGUSD	18.9%	69.7%	11.4%	2.8	94.2%
XAUUSD	36.8%	29.9%	33.3%	0.3	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	0.1	0.0	0.6	0.7	3.0
EURGBP	0.1	0.3	0.0	0.9	16.7
EURJPY	0.2	0.0	0.0	0.9	1.9
EURUSD	0.2	0.2	0.4	1.0	61.9
GBPJPY	0.3	0.2	0.0	1.5	2.3
GBPUSD	0.3	0.3	0.5	1.1	2.1
NZDUSD	0.1	0.0	0.6	0.0	1.4
USDCAD	0.1	0.3	0.4	1.1	3.6
USDCHF	0.1	0.2	0.0	1.0	3.5
USDJPY	0.2	0.0	0.0	1.0	3.2
	0.0 PIPS*	1 - 10 PIPS*	11 - 25 PIPS*	25- 50 PIPS*	> 51 PIPS*
XAGUSD	5.4	0.0	22.0	39.9	206.7
	0.0 PIPS*	1 - 10 PIPS*	11 - 20 PIPS*	21- 30 PIPS*	> 31 PIPS*
XAUUSD	3.4	8.1	17.0	24.3	213.0

* 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	66.8%	66.8%	78.3%	89.9%	91.5%
EURGBP	67.3%	69.6%	69.6%	96.8%	96.9%
EURJPY	67.6%	67.6%	67.6%	68.7%	96.8%
EURUSD	64.3%	64.6%	64.7%	91.6%	92.9%
GBPJPY	60.4%	60.9%	60.9%	63.8%	94.0%
GBPUSD	60.8%	61.2%	61.8%	63.6%	92.3%
NZDUSD	72.3%	72.3%	93.7%	93.7%	94.7%
USDCAD	66.3%	66.3%	69.8%	69.9%	96.9%
USDCHF	74.1%	74.4%	74.4%	97.0%	97.1%
USDJPY	62.6%	62.6%	62.6%	63.8%	94.4%
	0.0 PIPS	=< 10 PIPS	=< 25 PIPS	=< 50 PIPS	All
XAGUSD	75.1%	75.1%	83.5%	90.2%	91.6%
	0.0 PIPS	=< 10 PIPS	=< 20 PIPS	=< 30 PIPS	All
XAUUSD	59.4%	59.9%	82.3%	82.3%	94.6%

Limit IOC 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	17

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	29.7%	41.4%	28.9%	0.0	100.0%
EURGBP	23.8%	42.9%	33.3%	-0.1	100.0%
EURJPY	36.4%	28.1%	35.5%	0.0	100.0%
EURUSD	30.3%	37.9%	31.8%	0.0	100.0%
GBPJPY	35.8%	22.6%	41.7%	0.0	100.0%
GBPUSD	34.8%	30.5%	34.8%	0.0	100.0%
NZDUSD	27.1%	45.2%	27.6%	0.0	100.0%
USDCAD	31.4%	38.2%	30.4%	0.0	100.0%
USDCHF	31.6%	40.0%	28.4%	0.0	100.0%
USDJPY	32.9%	31.4%	35.7%	0.0	100.0%
XAGUSD	18.7%	61.7%	19.6%	-0.9	100.0%
XAUUSD	35.4%	30.4%	34.2%	0.2	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	99.7%
< 250	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	17

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (PIPS)*	Average Net Slippage (PIPS)**
AUDUSD	82.0%	18.0%	0.2	0.04
EURGBP	72.6%	27.4%	0.4	0.11
EURJPY	70.7%	29.3%	0.5	0.15
EURUSD	79.4%	20.6%	0.3	0.05
GBPJPY	47.2%	52.8%	0.8	0.44
GBPUSD	64.1%	35.9%	0.4	0.13
NZDUSD	78.5%	21.5%	0.3	0.06
USDCAD	79.4%	20.6%	0.3	0.05
USDCHF	74.7%	25.3%	0.4	0.10
USDJPY	56.2%	43.8%	0.6	0.24
XAGUSD	9.1%	90.9%	13.2	11.59
XAUUSD	39.5%	60.5%	3.7	2.24

Currency Pair	Price improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	21.8%	78.2%	0.4	0.1
EURGBP	39.0%	61.0%	0.4	0.2
EURJPY	37.9%	62.1%	0.6	0.2
EURUSD	23.5%	76.5%	0.4	0.1
GBPJPY	63.1%	36.9%	0.8	0.5
GBPUSD	42.5%	57.5%	0.7	0.3
NZDUSD	21.8%	78.2%	1.1	0.2
USDCAD	18.6%	81.4%	0.4	0.1
USDCHF	35.5%	64.5%	0.4	0.1
USDJPY	45.1%	54.9%	1.2	0.5
XAGUSD	89.5%	10.5%	15.3	13.7
XAUUSD	60.6%	39.4%	12.8	7.8

* 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	27.4%	51.4%	21.2%	0.0	97.5%
EURGBP	23.9%	57.4%	18.7%	0.0	99.4%
EURJPY	37.6%	30.2%	32.2%	0.0	98.3%
EURUSD	30.3%	44.0%	25.7%	0.0	99.1%
GBPJPY	37.8%	27.8%	34.5%	0.0	98.4%
GBPUSD	30.5%	41.3%	28.2%	0.0	98.8%
NZDUSD	23.8%	55.5%	20.7%	0.0	98.6%
USDCAD	29.5%	45.4%	25.1%	0.0	99.3%
USDCHF	22.3%	55.0%	22.7%	0.0	98.3%
USDJPY	33.2%	35.5%	31.3%	0.0	98.8%
XAGUSD	17.3%	71.1%	11.6%	1.7	96.0%
XAUUSD	35.1%	35.8%	29.1%	0.4	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	0.1	0.2	0.5	0.7	3.3
EURGBP	0.0	0.1	0.5	0.8	13.9
EURJPY	0.1	0.0	0.0	1.1	2.3
EURUSD	0.1	0.2	0.8	1.0	60.3
GBPJPY	0.2	0.2	0.0	1.0	1.9
GBPUSD	0.1	0.2	0.4	1.1	2.3
NZDUSD	0.1	0.0	0.6	1.0	5.3
USDCAD	0.1	0.1	0.5	1.1	3.7
USDCHF	0.1	0.0	0.0	1.0	3.6
USDJPY	0.2	0.2	0.0	1.1	2.7
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	3.4	0.0	21.7	40.6	164.5
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	2.5	10.6	17.9	0.0	129.2

* 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	81.7%	81.8%	81.8%	92.4%	93.6%
EURGBP	65.5%	67.7%	68.2%	94.6%	95.1%
EURJPY	58.5%	58.5%	58.5%	60.9%	95.6%
EURUSD	63.2%	63.6%	63.5%	92.0%	92.8%
GBPJPY	59.6%	59.7%	59.7%	59.8%	93.3%
GBPUSD	67.2%	68.5%	68.7%	69.3%	96.0%
NZDUSD	49.6%	49.6%	88.3%	88.5%	90.4%
USDCAD	65.8%	68.9%	69.4%	69.3%	96.2%
USDCHF	57.2%	57.2%	57.2%	92.2%	92.4%
USDJPY	58.8%	59.0%	59.0%	59.2%	95.8%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	77.8%	77.4%	89.5%	92.4%	93.4%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	67.4%	68.4%	85.7%	85.7%	95.8%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	97.5%
< 100	99.5%
< 250	99.8%
< 500	99.9%
< 1000	99.9%
Average execution speed in milliseconds	20

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	25.5%	48.7%	25.8%	0.0	100.0%
EURGBP	23.3%	58.0%	18.7%	0.0	100.0%
EURJPY	34.3%	33.0%	32.7%	0.0	100.0%
EURUSD	28.1%	41.8%	30.0%	0.0	100.0%
GBPJPY	35.4%	25.1%	39.5%	0.0	100.0%
GBPUSD	28.6%	41.5%	29.9%	0.0	100.0%
NZDUSD	24.9%	54.7%	20.4%	0.0	100.0%
USDCAD	26.1%	47.0%	26.8%	0.0	100.0%
USDCHF	25.5%	50.2%	24.4%	0.0	100.0%
USDJPY	31.5%	35.1%	33.4%	0.0	100.0%
XAGUSD	19.6%	62.8%	17.6%	0.7	100.0%
XAUUSD	32.3%	36.4%	31.3%	-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	98.2%
< 100	99.5%
< 250	99.8%
< 500	99.9%
< 1000	99.9%
Average execution speed in milliseconds	19

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	82.0%	18.0%	0.2	0.04
EURGBP	87.1%	12.9%	0.2	0.02
EURJPY	77.0%	23.0%	0.3	0.06
EURUSD	78.4%	21.6%	0.2	0.05
GBPJPY	53.5%	46.5%	0.4	0.18
GBPUSD	71.2%	28.8%	0.2	0.06
NZDUSD	77.4%	22.6%	0.2	0.05
USDCAD	83.3%	16.7%	0.2	0.02
USDCHF	82.7%	17.3%	0.4	0.08
USDJPY	63.0%	37.0%	1.4	0.51
XAGUSD	10.9%	89.1%	12.1	9.61
XAUUSD	39.8%	60.2%	4.2	2.51

Resting Limit Order Statistics

Currency Pair	Price improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	22.6%	77.4%	0.5	0.1
EURGBP	15.1%	84.9%	0.7	0.1
EURJPY	27.8%	72.2%	0.4	0.1
EURUSD	23.4%	76.6%	0.7	0.2
GBPJPY	47.3%	52.7%	0.5	0.2
GBPUSD	31.0%	69.0%	0.4	0.1
NZDUSD	32.9%	67.1%	3.1	1.0
USDCAD	17.5%	82.5%	0.5	0.1
USDCHF	25.2%	74.8%	0.4	0.1
USDJPY	37.8%	62.2%	0.5	0.2
XAGUSD	92.0%	8.0%	13.3	12.2
XAUUSD	58.4%	41.6%	7.9	4.6

* 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	28.4%	46.8%	24.8%	0.0	97.7%
EURGBP	28.7%	50.8%	20.6%	0.0	99.2%
EURJPY	37.2%	26.7%	36.1%	0.0	98.6%
EURUSD	32.3%	40.4%	27.3%	0.0	99.2%
GBPJPY	37.8%	25.6%	36.6%	0.0	98.8%
GBPUSD	32.6%	38.6%	28.8%	0.0	98.8%
NZDUSD	26.9%	47.5%	25.6%	0.0	98.2%
USDCAD	30.6%	41.1%	28.3%	0.0	99.4%
USDCHF	27.7%	49.2%	23.1%	0.0	98.2%
USDJPY	32.3%	35.9%	31.7%	0.0	98.4%
XAGUSD	23.4%	61.6%	14.9%	2.3	96.6%
XAUUSD	35.2%	32.9%	31.9%	0.4	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	0.5	0.7	2.4
EURGBP	0.1	0.2	0.3	0.8	93.0
EURJPY	0.2	0.0	0.0	1.0	1.8
EURUSD	0.1	0.2	0.5	1.0	65.7
GBPJPY	0.3	0.1	0.0	1.1	6.4
GBPUSD	0.1	0.2	0.3	1.1	3.2
NZDUSD	0.1	0.0	0.6	1.0	1.5
USDCAD	0.1	0.2	0.5	1.6	3.1
USDCHF	0.1	0.2	0.0	1.0	3.7
USDJPY	0.1	0.3	0.0	0.8	3.2
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	5.7	1.0	22.0	40.0	209.1
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	3.5	3.3	17.6	0.0	164.6

* 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	63.4%	63.5%	63.6%	92.6%	93.2%
EURGBP	75.4%	75.3%	75.6%	94.4%	94.6%
EURJPY	27.0%	27.0%	27.0%	46.0%	96.3%
EURUSD	64.6%	64.7%	64.7%	92.2%	93.1%
GBPJPY	41.6%	42.3%	42.3%	48.6%	94.7%
GBPUSD	67.0%	67.8%	68.1%	68.3%	96.0%
NZDUSD	26.4%	26.4%	83.2%	84.5%	87.2%
USDCAD	69.8%	70.5%	72.4%	72.4%	96.6%
USDCHF	61.3%	61.7%	61.7%	91.9%	92.0%
USDJPY	51.7%	51.8%	51.8%	57.8%	94.5%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	83.3%	83.1%	88.5%	93.3%	94.5%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	54.3%	54.3%	82.4%	82.4%	95.4%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	97.6%
< 100	99.7%
< 250	99.9%
< 500	99.9%
< 1000	100.0%
Average execution speed in milliseconds	20

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Fill Rate
AUDUSD	27.1%	44.9%	28.1%	100.0%
EURGBP	23.5%	56.1%	20.5%	100.0%
EURJPY	37.9%	26.7%	35.4%	100.0%
EURUSD	30.0%	39.0%	31.0%	100.0%
GBPJPY	35.9%	28.4%	35.7%	100.0%
GBPUSD	29.5%	38.2%	32.3%	100.0%
NZDUSD	26.8%	48.2%	25.0%	100.0%
USDCAD	29.3%	43.8%	26.9%	100.0%
USDCHF	26.7%	46.3%	27.0%	100.0%
USDJPY	31.0%	35.9%	33.1%	100.0%
XAGUSD	20.8%	57.6%	21.6%	100.0%
XAUUSD	33.4%	32.7%	33.9%	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	99.7%
< 250	99.9%
< 500	99.9%
< 1000	100.0%
Average execution speed in milliseconds	18

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	82.4%	17.6%	0.2	0.04
EURGBP	84.3%	15.7%	0.2	0.03
EURJPY	71.2%	28.8%	0.2	0.06
EURUSD	76.3%	23.7%	0.2	0.05
GBPJPY	56.7%	43.3%	0.2	0.10
GBPUSD	75.1%	24.9%	0.2	0.05
NZDUSD	80.0%	20.0%	0.3	0.05
USDCAD	82.0%	18.0%	0.2	0.04
USDCHF	73.9%	26.1%	0.2	0.06
USDJPY	65.3%	34.7%	0.2	0.07
XAGUSD	8.4%	91.6%	11.9	9.74
XAUUSD	36.3%	63.7%	5.4	3.40

Resting Limit Order Statistics

Currency Pair	Price improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	21.2%	78.8%	0.4	0.1
EURGBP	18.0%	82.0%	0.2	0.0
EURJPY	32.2%	67.8%	0.3	0.1
EURUSD	24.5%	75.5%	0.6	0.1
GBPJPY	47.5%	52.5%	0.2	0.1
GBPUSD	26.4%	73.6%	0.4	0.1
NZDUSD	21.1%	78.9%	0.7	0.1
USDCAD	20.0%	80.0%	0.3	0.1
USDCHF	28.5%	71.5%	0.2	0.1
USDJPY	36.5%	63.5%	0.3	0.1
XAGUSD	90.8%	9.2%	9.7	8.8
XAUUSD	62.6%	37.4%	5.2	3.2

* 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	27.9%	46.9%	25.2%	0.0	98.0%
EURGBP	26.3%	50.8%	23.0%	0.0	99.6%
EURJPY	35.5%	28.8%	35.7%	0.0	98.9%
EURUSD	31.4%	43.7%	24.9%	0.0	99.2%
GBPJPY	40.5%	22.3%	37.1%	0.0	98.6%
GBPUSD	31.5%	39.4%	29.1%	0.0	98.3%
NZDUSD	26.5%	52.9%	20.6%	0.0	98.7%
USDCAD	29.7%	43.5%	26.7%	0.0	99.4%
USDCHF	24.5%	54.6%	20.8%	0.0	99.1%
USDJPY	33.6%	34.1%	32.3%	0.0	99.2%
XAGUSD	20.6%	64.6%	14.8%	1.4	95.9%
XAUUSD	32.9%	38.2%	28.9%	0.3	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	0.1	0.2	0.5	0.7	3.9
EURGBP	0.1	0.2	0.4	0.9	56.2
EURJPY	0.2	0.0	0.0	0.9	1.6
EURUSD	0.1	0.2	0.5	1.0	5.9
GBPJPY	0.3	0.0	0.0	1.0	4.3
GBPUSD	0.1	0.3	0.4	1.0	2.8
NZDUSD	0.1	0.2	0.6	0.8	1.6
USDCAD	0.1	0.2	0.5	1.0	2.4
USDCHF	0.1	0.2	0.0	1.0	3.0
USDJPY	0.2	0.2	0.0	0.8	3.2
	0.0 PIPS*	1 - 10 PIPS*	11 - 25 PIPS*	25- 50 PIPS*	> 51 PIPS*
XAGUSD	4.7	2.7	23.4	43.9	332.3
	0.0 PIPS*	1 - 10 PIPS*	11 - 20 PIPS*	21- 30 PIPS*	> 31 PIPS*
XAUUSD	3.3	4.8	18.4	0.0	203.3

* 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	74.2%	74.2%	74.3%	95.1%	95.5%
EURGBP	89.6%	89.8%	90.2%	97.9%	94.9%
EURJPY	71.7%	71.7%	71.7%	73.0%	98.0%
EURUSD	79.8%	80.0%	80.2%	90.4%	95.5%
GBPJPY	75.6%	75.6%	75.6%	77.0%	97.2%
GBPUSD	64.9%	65.3%	65.8%	65.9%	95.2%
NZDUSD	91.2%	91.1%	96.9%	97.2%	97.4%
USDCAD	65.0%	66.0%	67.9%	68.0%	96.2%
USDCHF	77.9%	78.1%	78.1%	96.1%	96.3%
USDJPY	65.0%	64.9%	64.9%	68.4%	96.4%
	0.0 PIPS	=< 10 PIPS	=< 25 PIPS	=< 50 PIPS	All
XAGUSD	80.9%	81.3%	85.6%	93.0%	94.3%
	0.0 PIPS	=< 10 PIPS	=< 20 PIPS	=< 30 PIPS	All
XAUUSD	57.3%	57.7%	85.2%	85.2%	95.9%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	97.0%
< 100	99.4%
< 250	99.8%
< 500	99.9%
< 1000	99.9%
Average execution speed in milliseconds	21

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	28.1%	43.4%	28.5%	0.0	100.0%
EURGBP	24.1%	49.8%	26.1%	0.0	100.0%
EURJPY	33.3%	33.8%	32.9%	0.0	100.0%
EURUSD	28.1%	41.2%	30.7%	0.0	100.0%
GBPJPY	38.2%	23.9%	37.9%	0.0	100.0%
GBPUSD	29.8%	40.6%	29.7%	0.0	100.0%
NZDUSD	24.3%	53.6%	22.1%	0.0	100.0%
USDCAD	26.6%	46.3%	27.1%	0.0	100.0%
USDCHF	25.0%	51.5%	23.5%	0.0	100.0%
USDJPY	32.0%	35.3%	32.7%	0.0	100.0%
XAGUSD	19.6%	61.3%	19.1%	-0.5	100.0%
XAUUSD	30.7%	38.0%	31.3%	-0.2	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	98.1%
< 100	99.4%
< 250	99.7%
< 500	99.9%
< 1000	99.9%
Average execution speed in milliseconds	20

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (PIPS)*	Average Net Slippage (PIPS)**
AUDUSD	83.2%	16.8%	0.2	0.03
EURGBP	82.9%	17.1%	0.2	0.04
EURJPY	71.8%	28.2%	0.5	0.15
EURUSD	78.2%	21.8%	0.2	0.04
GBPJPY	54.7%	45.3%	0.3	0.11
GBPUSD	71.8%	28.2%	0.2	0.06
NZDUSD	81.8%	18.2%	0.2	0.03
USDCAD	81.7%	18.3%	0.2	0.03
USDCHF	72.6%	27.4%	0.3	0.08
USDJPY	62.4%	37.6%	0.2	0.08
XAGUSD	8.4%	91.6%	10.3	9.33
XAUUSD	31.7%	68.3%	5.1	3.43

Resting Limit Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Average Price Improvement (PIPS)*	Average Net Price Improvement (PIPS)**
AUDUSD	18.7%	81.3%	0.3	0.1
EURGBP	15.0%	85.0%	0.3	0.0
EURJPY	32.3%	67.7%	0.2	0.1
EURUSD	22.2%	77.8%	0.4	0.1
GBPJPY	48.3%	51.7%	0.3	0.1
GBPUSD	29.9%	70.1%	0.2	0.1
NZDUSD	21.3%	78.7%	0.8	0.2
USDCAD	17.5%	82.5%	0.3	0.1
USDCHF	33.6%	66.4%	0.4	0.1
USDJPY	36.3%	63.7%	0.3	0.1
XAGUSD	88.9%	11.1%	42.1	37.4
XAUUSD	65.2%	34.8%	5.2	3.4

* 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	28.6%	45.1%	26.4%	0.0	98.1%
EURGBP	22.1%	55.0%	22.9%	0.0	99.6%
EURJPY	35.7%	31.0%	33.3%	0.0	98.7%
EURUSD	29.1%	44.2%	26.7%	0.0	99.2%
GBPJPY	37.4%	26.3%	36.4%	0.0	98.5%
GBPUSD	31.9%	39.0%	29.1%	0.0	98.6%
NZDUSD	24.3%	53.4%	22.3%	0.0	98.8%
USDCAD	30.5%	41.6%	27.9%	0.0	99.5%
USDCHF	20.8%	60.8%	18.4%	0.0	99.0%
USDJPY	32.1%	38.0%	29.9%	0.0	99.0%
XAGUSD	21.5%	61.7%	16.8%	1.5	96.3%
XAUUSD	33.2%	37.5%	29.2%	0.3	99.1%

* 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	2.6
EURGBP	0.1	0.2	0.3	0.9	15.0
EURJPY	0.2	0.0	0.0	0.9	1.5
EURUSD	0.1	0.2	0.4	1.0	6.3
GBPJPY	0.3	0.0	0.7	1.0	2.8
GBPUSD	0.2	0.2	0.4	0.8	2.9
NZDUSD	0.1	0.2	0.6	0.7	1.8
USDCAD	0.1	0.2	0.5	0.0	3.5
USDCHF	0.1	0.2	0.0	1.0	2.7
USDJPY	0.1	0.2	0.0	0.9	2.3
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	4.6	8.7	24.1	44.8	236.7
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	2.8	8.1	18.9	0.0	130.8

* 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	68.5%	68.6%	68.6%	94.7%	95.5%
EURGBP	71.3%	72.1%	76.0%	98.0%	95.3%
EURJPY	66.0%	66.0%	66.0%	69.5%	97.7%
EURUSD	66.5%	67.4%	67.6%	84.4%	95.2%
GBPJPY	64.8%	64.8%	65.2%	73.0%	97.1%
GBPUSD	65.8%	67.0%	67.2%	67.4%	96.1%
NZDUSD	76.4%	76.5%	96.1%	96.8%	97.3%
USDCAD	65.7%	66.2%	71.6%	71.6%	96.6%
USDCHF	74.9%	75.0%	75.0%	95.6%	95.8%
USDJPY	62.8%	63.0%	63.0%	66.6%	95.5%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	78.3%	78.5%	88.7%	93.8%	94.7%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	63.3%	63.6%	86.2%	86.2%	96.3%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	97.3%
< 100	99.4%
< 250	99.7%
< 500	99.8%
< 1000	99.9%
Average execution speed in milliseconds	22

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	27.5%	44.6%	27.9%	0.0	100.0%
EURGBP	23.3%	50.1%	26.6%	0.0	100.0%
EURJPY	34.0%	29.8%	36.2%	0.0	100.0%
EURUSD	27.7%	43.2%	29.1%	0.0	100.0%
GBPJPY	37.3%	27.1%	35.5%	0.0	100.0%
GBPUSD	29.5%	40.3%	30.3%	0.0	100.0%
NZDUSD	25.2%	53.7%	21.1%	0.0	100.0%
USDCAD	29.9%	43.0%	27.2%	0.0	100.0%
USDCHF	18.9%	59.0%	22.2%	0.0	100.0%
USDJPY	29.7%	38.9%	31.4%	0.0	100.0%
XAGUSD	19.0%	61.2%	19.8%	-0.3	100.0%
XAUUSD	30.8%	39.1%	30.1%	-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	98.0%
< 100	99.4%
< 250	99.7%
< 500	99.9%
< 1000	99.9%
Average execution speed in milliseconds	20

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	82.6%	17.4%	0.2	0.03
EURGBP	86.8%	13.2%	0.2	0.02
EURJPY	73.7%	26.3%	0.2	0.04
EURUSD	78.5%	21.5%	0.2	0.04
GBPJPY	59.7%	40.3%	0.2	0.09
GBPUSD	72.7%	27.3%	0.2	0.05
NZDUSD	83.8%	16.2%	0.1	0.02
USDCAD	80.5%	19.5%	0.2	0.03
USDCHF	78.0%	22.0%	0.2	0.04
USDJPY	73.4%	26.6%	0.2	0.04
XAGUSD	8.9%	91.1%	11.1	9.91
XAUUSD	30.2%	69.8%	5.3	3.64

Resting Limit Order Statistics

Currency Pair	Price improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	22.4%	77.6%	0.5	0.1
EURGBP	18.9%	81.1%	0.2	0.0
EURJPY	31.0%	69.0%	0.2	0.1
EURUSD	22.6%	77.4%	0.4	0.1
GBPJPY	45.2%	54.8%	0.2	0.1
GBPUSD	32.1%	67.9%	0.2	0.1
NZDUSD	27.5%	72.5%	2.2	0.6
USDCAD	21.1%	78.9%	0.2	0.0
USDCHF	25.9%	74.1%	0.2	0.0
USDJPY	31.3%	68.7%	0.3	0.1
XAGUSD	89.2%	10.8%	11.5	10.2
XAUUSD	65.3%	34.7%	4.5	2.9

* 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	21.6%	59.5%	18.9%	0.0	99.0%
EURGBP	22.9%	59.2%	17.8%	0.0	99.5%
EURJPY	35.1%	34.1%	30.8%	0.0	99.2%
EURUSD	26.5%	50.1%	23.4%	0.0	99.3%
GBPJPY	37.5%	30.3%	32.1%	0.0	98.4%
GBPUSD	25.2%	48.4%	26.4%	0.0	99.6%
NZDUSD	18.6%	63.7%	17.7%	0.0	98.4%
USDCAD	25.6%	50.6%	23.8%	0.0	99.7%
USDCHF	21.5%	62.5%	16.0%	0.0	99.3%
USDJPY	29.5%	42.3%	28.1%	0.0	98.9%
XAGUSD	23.1%	59.3%	17.6%	1.6	96.8%
XAUUSD	34.3%	36.3%	29.4%	0.2	99.3%

* 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	0.0	0.0	0.7	3.2
EURGBP	0.0	0.2	0.3	0.8	14.4
EURJPY	0.2	0.2	0.0	1.0	1.5
EURUSD	0.1	0.2	0.5	1.0	7.9
GBPJPY	0.2	0.2	0.6	1.0	2.0
GBPUSD	0.1	0.2	0.4	1.0	7.7
NZDUSD	0.0	0.0	0.6	0.7	1.8
USDCAD	0.1	0.2	0.4	0.9	3.1
USDCHF	0.0	0.2	0.0	0.9	3.8
USDJPY	0.1	0.2	0.4	0.9	2.6
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	6.4	0.0	26.3	48.2	150.0
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	3.2	10.0	19.7	0.0	136.8

* 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	75.3%	75.3%	75.3%	95.0%	95.6%
EURGBP	80.0%	81.4%	84.2%	98.6%	93.4%
EURJPY	61.8%	61.9%	61.9%	67.5%	96.4%
EURUSD	72.1%	72.4%	72.9%	77.0%	95.7%
GBPJPY	59.6%	59.8%	60.4%	63.8%	93.5%
GBPUSD	70.6%	72.4%	72.5%	73.7%	97.3%
NZDUSD	77.3%	77.3%	83.7%	95.6%	96.2%
USDCAD	68.0%	69.8%	77.1%	77.1%	97.0%
USDCHF	73.8%	74.3%	74.3%	96.9%	97.1%
USDJPY	67.8%	67.9%	67.9%	70.7%	96.5%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	72.3%	72.3%	86.4%	93.2%	94.8%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	63.4%	64.2%	88.3%	88.3%	96.9%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	97.5%
< 100	99.6%
< 250	99.8%
< 500	99.9%
< 1000	99.9%
Average execution speed in milliseconds	21

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	21.8%	56.7%	21.6%	0.0	100.0%
EURGBP	20.8%	59.5%	19.7%	0.0	100.0%
EURJPY	30.5%	35.6%	33.9%	0.0	100.0%
EURUSD	24.1%	51.0%	24.9%	0.0	100.0%
GBPJPY	33.5%	28.9%	37.7%	0.0	100.0%
GBPUSD	23.7%	49.5%	26.8%	0.0	100.0%
NZDUSD	17.7%	65.8%	16.5%	0.0	100.0%
USDCAD	23.2%	52.5%	24.2%	0.0	100.0%
USDCHF	16.5%	68.5%	15.0%	0.0	100.0%
USDJPY	28.9%	40.0%	31.1%	0.0	100.0%
XAGUSD	23.1%	55.8%	21.1%	0.2	100.0%
XAUUSD	32.8%	35.8%	31.4%	-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	99.8%
< 500	99.9%
< 1000	100.0%
Average execution speed in milliseconds	19

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	79.3%	20.7%	0.2	0.05
EURGBP	85.1%	14.9%	0.3	0.04
EURJPY	73.5%	26.5%	0.2	0.04
EURUSD	79.7%	20.3%	0.2	0.04
GBPJPY	57.4%	42.6%	0.2	0.09
GBPUSD	77.8%	22.2%	0.2	0.05
NZDUSD	77.2%	22.8%	0.3	0.08
USDCAD	82.5%	17.5%	0.2	0.03
USDCHF	79.4%	20.6%	0.2	0.04
USDJPY	73.4%	26.6%	0.2	0.04
XAGUSD	9.2%	90.8%	10.8	9.59
XAUUSD	30.7%	69.3%	13.1	9.05

Resting Limit Order Statistics

Currency Pair	Price improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	21.2%	78.8%	0.4	0.1
EURGBP	16.3%	83.7%	0.3	0.0
EURJPY	29.6%	70.4%	0.3	0.1
EURUSD	21.6%	78.4%	0.4	0.1
GBPJPY	42.5%	57.5%	0.2	0.1
GBPUSD	25.2%	74.8%	0.4	0.1
NZDUSD	27.8%	72.2%	1.4	0.4
USDCAD	20.9%	79.1%	0.5	0.1
USDCHF	25.3%	74.7%	0.5	0.1
USDJPY	30.8%	69.2%	0.5	0.2
XAGUSD	91.5%	8.5%	11.9	10.9
XAUUSD	65.2%	34.8%	8.3	5.4

* 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	22.1%	59.6%	18.3%	0.0	98.7%
EURGBP	21.9%	56.1%	21.9%	0.0	99.7%
EURJPY	34.3%	34.5%	31.2%	0.0	99.6%
EURUSD	28.4%	45.6%	26.0%	0.0	99.4%
GBPJPY	35.2%	34.2%	30.6%	0.0	99.4%
GBPUSD	27.6%	46.8%	25.6%	0.0	99.6%
NZDUSD	18.4%	64.3%	17.2%	0.0	98.8%
USDCAD	23.8%	54.2%	22.0%	0.0	99.8%
USDCHF	22.2%	59.2%	18.6%	0.0	99.4%
USDJPY	25.3%	50.7%	24.0%	0.0	99.8%
XAGUSD	25.4%	57.6%	17.0%	3.2	96.0%
XAUUSD	35.1%	35.4%	29.4%	0.7	99.1%

* 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	0.1	0.3	0.7	2.7
EURGBP	0.1	0.2	0.4	0.8	6.5
EURJPY	0.2	0.0	0.0	1.0	1.4
EURUSD	0.1	0.3	0.5	1.0	6.2
GBPJPY	0.3	0.0	0.7	1.1	1.8
GBPUSD	0.1	0.2	0.4	1.0	2.1
NZDUSD	0.0	0.2	0.5	0.7	2.5
USDCAD	0.1	0.2	0.5	1.1	3.0
USDCHF	0.1	0.2	0.0	0.9	4.0
USDJPY	0.1	0.2	0.0	1.1	2.3
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	7.5	0.0	28.5	44.6	208.1
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	4.6	10.5	20.2	24.1	146.0

* 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	80.3%	79.8%	79.9%	95.3%	96.0%
EURGBP	84.3%	85.7%	88.4%	98.9%	99.0%
EURJPY	74.7%	74.7%	74.7%	82.7%	98.9%
EURUSD	78.3%	78.3%	79.5%	83.7%	97.3%
GBPJPY	71.2%	71.2%	71.6%	72.7%	96.1%
GBPUSD	69.6%	70.5%	70.5%	74.7%	97.3%
NZDUSD	81.6%	82.8%	83.1%	95.7%	96.3%
USDCAD	82.7%	84.2%	87.1%	87.2%	98.8%
USDCHF	77.3%	80.4%	80.4%	96.7%	97.0%
USDJPY	87.3%	87.5%	87.5%	88.5%	99.2%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	78.2%	78.2%	83.0%	89.9%	93.8%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	68.1%	68.4%	87.6%	87.8%	96.6%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	97.7%
< 100	99.7%
< 250	99.9%
< 500	99.9%
< 1000	100.0%
Average execution speed in milliseconds	19

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	21.2%	57.9%	20.9%	0.0	100.0%
EURGBP	21.9%	57.9%	20.2%	0.0	100.0%
EURJPY	31.6%	36.8%	31.6%	0.0	100.0%
EURUSD	26.7%	44.6%	28.6%	0.0	100.0%
GBPJPY	31.5%	34.5%	34.0%	0.0	100.0%
GBPUSD	25.6%	48.2%	26.2%	0.0	100.0%
NZDUSD	17.8%	61.9%	20.3%	0.0	100.0%
USDCAD	20.1%	57.1%	22.8%	0.0	100.0%
USDCHF	17.9%	64.1%	18.0%	0.0	100.0%
USDJPY	22.9%	53.3%	23.8%	0.0	100.0%
XAGUSD	23.4%	54.1%	22.4%	-0.3	100.0%
XAUUSD	33.1%	35.0%	32.0%	-0.2	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	99.9%
< 500	100.0%
< 1000	100.0%
Average execution speed in milliseconds	18

Resting Stop Order Statistics

Currency Pair	No Slippage	Negative Slippage	Average Negative Slippage (pips)*	Average Net Slippage (pips)**
AUDUSD	82.8%	17.2%	0.2	0.03
EURGBP	80.7%	19.3%	0.2	0.03
EURJPY	69.7%	30.3%	0.2	0.06
EURUSD	75.9%	24.1%	0.2	0.06
GBPJPY	60.0%	40.0%	0.2	0.06
GBPUSD	78.4%	21.6%	0.2	0.05
NZDUSD	76.0%	24.0%	0.2	0.04
USDCAD	78.4%	21.6%	0.2	0.04
USDCHF	74.8%	25.2%	0.1	0.03
USDJPY	74.0%	26.0%	0.2	0.04
XAGUSD	6.1%	93.9%	15.2	12.65
XAUUSD	29.2%	70.8%	6.7	4.52

Limit Order Statistics

Currency Pair	Price improvement	Zero Slippage	Average Price Improvement (pips)*	Average Net Price Improvement (pips)**
AUDUSD	18.5%	81.5%	0.3	0.0
EURGBP	17.0%	83.0%	0.3	0.0
EURJPY	33.5%	66.5%	0.3	0.1
EURUSD	26.7%	73.3%	0.4	0.1
GBPJPY	35.2%	64.8%	0.2	0.1
GBPUSD	24.9%	75.1%	0.3	0.1
NZDUSD	23.2%	76.8%	0.6	0.1
USDCAD	22.9%	77.1%	0.3	0.1
USDCHF	28.4%	71.6%	0.2	0.1
USDJPY	26.5%	73.2%	0.5	0.1
XAGUSD	94.3%	5.7%	24.6	23.2
XAUUSD	70.1%	29.9%	6.8	4.8

* 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	22.4%	57.3%	20.3%	0.0	99.0%
EURGBP	20.7%	59.2%	20.0%	0.0	99.6%
EURJPY	29.0%	44.0%	27.0%	0.0	99.4%
EURUSD	25.6%	50.9%	23.5%	0.0	99.3%
GBPJPY	32.5%	39.6%	27.9%	0.0	99.3%
GBPUSD	26.0%	49.9%	24.1%	0.0	99.5%
NZDUSD	18.3%	65.8%	16.0%	0.0	99.0%
USDCAD	25.2%	51.4%	23.4%	0.0	99.8%
USDCHF	20.0%	62.1%	17.9%	0.0	99.5%
USDJPY	21.8%	55.5%	22.8%	0.0	99.6%
XAGUSD	21.9%	61.9%	16.2%	2.4	95.8%
XAUUSD	33.6%	36.6%	29.8%	0.4	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	0.1	0.2	0.3	0.7	3.2
EURGBP	0.0	0.2	0.0	0.8	7.3
EURJPY	0.1	0.2	0.0	1.0	1.5
EURUSD	0.1	0.2	0.5	1.0	2.9
GBPJPY	0.1	0.0	0.7	1.1	1.7
GBPUSD	0.1	0.2	0.6	1.0	3.0
NZDUSD	0.1	0.2	0.5	0.7	2.3
USDCAD	0.1	0.2	0.4	1.0	3.0
USDCHF	0.1	0.0	0.0	0.9	4.5
USDJPY	0.1	0.1	0.5	1.0	2.1
	0.0 pips*	1 - 10 pips*	11 - 25 pips*	25- 50 pips*	> 51 pips*
XAGUSD	6.7	0.0	26.6	48.4	250.9
	0.0 pips*	1 - 10 pips*	11 - 20 pips*	21- 30 pips*	> 31 pips*
XAUUSD	3.5	8.4	19.2	0.0	200.9

* 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	74.0%	75.3%	75.4%	96.1%	96.7%
EURGBP	69.8%	70.9%	70.9%	98.7%	98.8%
EURJPY	71.5%	72.3%	72.3%	73.5%	98.5%
EURUSD	72.0%	72.8%	73.2%	76.1%	96.5%
GBPJPY	63.4%	63.4%	63.9%	66.1%	95.3%
GBPUSD	71.6%	72.1%	72.0%	78.8%	96.9%
NZDUSD	73.3%	73.7%	74.0%	96.7%	96.8%
USDCAD	72.8%	74.8%	81.0%	81.2%	98.8%
USDCHF	74.9%	74.9%	74.9%	97.1%	97.4%
USDJPY	78.3%	79.4%	79.5%	79.8%	98.5%
	0.0 pips	=< 10 pips	=< 25 pips	=< 50 pips	All
XAGUSD	73.2%	73.2%	86.7%	92.3%	93.4%
	0.0 pips	=< 10 pips	=< 20 pips	=< 30 pips	All
XAUUSD	59.8%	59.9%	81.9%	81.9%	95.3%

Limit IOC Order Execution Speed

Time in Milliseconds	Fill Rate
< 50	97.9%
< 100	99.7%
< 250	99.9%
< 500	99.9%
< 1000	99.9%
Average execution speed in milliseconds	20

Market Order Statistics

Currency Pair	Price Improvement	Zero Slippage	Negative Slippage	Average Net Improvement*	Fill Rate
AUDUSD	20.5%	57.1%	22.3%	0.0	100.0%
EURGBP	19.5%	60.7%	19.8%	0.0	100.0%
EURJPY	28.3%	42.9%	28.9%	0.0	100.0%
EURUSD	24.6%	48.9%	26.4%	0.0	100.0%
GBPJPY	33.3%	35.5%	31.3%	0.0	100.0%
GBPUSD	25.9%	49.4%	24.7%	0.0	100.0%
NZDUSD	20.2%	60.5%	19.4%	0.0	100.0%
USDCAD	21.8%	55.3%	22.9%	0.0	100.0%
USDCHF	19.6%	62.5%	17.9%	0.0	100.0%
USDJPY	21.5%	55.8%	22.6%	0.0	100.0%
XAGUSD	20.1%	57.4%	22.4%	-0.8	100.0%
XAUUSD	32.8%	35.7%	31.6%	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	98.5%
< 100	99.6%
< 250	99.7%
< 500	99.8%
< 1000	100.0%
Average execution speed in milliseconds	20

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	0.03
EURGBP	78.7%	21.3%	0.2	0.05
EURJPY	69.7%	30.3%	0.3	0.10
EURUSD	75.5%	24.5%	0.2	0.05
GBPJPY	57.0%	43.0%	0.8	0.34
GBPUSD	75.8%	24.2%	0.2	0.05
NZDUSD	77.7%	22.3%	0.2	-0.03
USDCAD	77.9%	22.1%	0.2	0.03
USDCHF	77.5%	22.5%	0.2	0.05
USDJPY	78.7%	21.3%	0.2	0.04
XAGUSD	4.6%	95.4%	11.4	10.66
XAUUSD	35.1%	64.9%	7.4	4.63

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	27.7%	72.3%	0.4	0.1
EURJPY	33.5%	66.5%	0.6	0.2
EURUSD	27.1%	72.9%	0.4	0.1
GBPJPY	40.9%	59.1%	0.3	0.1
GBPUSD	28.1%	71.9%	0.4	0.1
NZDUSD	23.7%	76.3%	0.5	0.1
USDCAD	21.9%	78.1%	0.6	0.1
USDCHF	23.8%	76.2%	0.3	0.1
USDJPY	25.7%	74.3%	0.5	0.1
XAGUSD	90.7%	9.3%	14.9	13.5
XAUUSD	64.0%	36.0%	10.6	6.8

* 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

January 2023

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

December 2022

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

November 2022

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

October 2022

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 2022

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

August 2022

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 2022

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 2022

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 2022

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