Orders and Execution

Supported Order types

The following order types are available:

Immediate or Cancel (IOC) orders to trade immediately on the best available terms, with or without a defined tolerance.

Resting Limit, Market, Stop and Stop Limit orders for longer duration's i.e Day Order, Good till Cancelled etc

Trailing Stops, where a Stop order can be specified to trail the market are supported.

All Resting Limit and Stop orders can be placed as either:

  • 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 your choice
  • Good till Cancelled (GTC): Valid indefinitely unless or until specifically cancelled by you

Market Orders

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.

Market IOC (Immediate-or-Cancel) order - An instruction to buy or sell as much of the order as possible, immediately. Immediately means the order is placed with a 3 second Time-to-Live (TTL). A Market IOC order can result in a partial fills. If the order cannot be filled in full, any remaining amount will be cancelled. Price Tolerance cannot be added to a Market IOC order, meaning that the client cannot control the execution price range.

Market order - A Market order with Day duration to buy or sell as much of the order as possible on the best available terms in the market. A Market order can result in a partial fills.  If the order cannot be filled in full, any remaining amount will continue working for the set duration.

Limit Orders

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.

  • Limit orders to buy can only be placed below the current market price
  • Limit orders to sell can only be placed above the current market price

Limit IOC (Immediate-or-Cancel) order – An instruction to buy or sell as much of the order as possible at the client's specified price or better immediately. Immediately means the order is placed with a 3 second Time-to-Live (TTL). A Limit IOC order can result in a partial fills. If the order cannot be filled in full, any remaining amount will be cancelled.

Resting Limit order – A Limit order with variable duration (Day, Good-Til Cancelled etc) that rests at Saxo Bank at a specific price until triggered, cancelled or expired. A Resting Limit order can result in partial fills. If the order cannot be filled in full, any remaining amount will revert to a 'resting order'.

Stop Orders

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. All Stop orders are triggered on the opposite side of the spread. These orders are typically filled at the stop level adjusted for the spread at the time.

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. This is to prevent orders from being triggered just because of a temporary large spread (maybe for a split of a second) as opposed to actual buyers and sellers being present in the market.

  • A Stop order to buy will be triggered when the bid price at which the client could undertake a transaction of equivalent size reaches the specified price level. Once triggered, the order will be treated as a Market order.
  • A Stop order to sell will be triggered when the offer price at which the client could undertake a transaction of equivalent size reaches the specified price level. Once triggered, the order will be treated as a Market order.

Saxo Bank's order management system has certain client protection mechanisms in place that ensures that the vast majority of orders are filled on transparent prices without any slippage. Please see our Historical Stop Order fill statistics below.

Stop Limit order – A Stop Limit order with variable duration (Day, Good Til-Cancelled etc) that rests at Saxo Bank at a specific price until triggered, cancelled or expired. Once the price is triggered, the Spot Limit order is converted into a Resting Limit order at the Stop price. A Resting Limit order can result in partial fills. If the order cannot be filled in full, any remaining amount will revert to a 'resting order'. Trailing Stop Limit orders are not available.

Manual Order fill

Typically, only a very small proportion of orders placed with Saxo Bank require manual intervention.

Manual intervention may occur when the order is:

  • Large in size and cannot be automatically traded
  • There are highly volatile and/or illiquid market conditions
  • In an illiquid currency pair

During illiquid market conditions there are fewer market participants and thus dealers will need to check the price and also that the desired trade amount is actually available in the market.

Partial Order fill

A partial fill may occur in the event that there is not enough liquidity available at the price and/or at the size that the client wishes to trade. 

An Immediate of Cancel (IOC) order will continue working until the full amount is filled as long as it is within the 3 second Time to Live (TTL), after which time the order will expire. If an IOC order is only partially filled any remaining amount will be cancelled.

A Resting order will continue working until the full amount is filled as long as it is within the set duration (i.e. Day, Good-Til-Cancelled etc). If a Resting order is only partially filled, any remaining amount will revert to a 'resting order'.


Order Driven Execution Statistics

Average slippage, price improvement and rejection rate

The table below shows the following execution statistics for Saxo Bank’s most traded FX Spot instruments:

  • Average slippage
  • Average price improvement
  • Average rejection rate 

The statistics are based on simulated trade attempts using a Limit IOC order based on Saxo Bank’s actual market prices, trade frequency and volume for the period May 2016 to October 2016.  

How to read the table:

The majority of trade attempts using a Limit IOC order were filled with positive or zero slippage. 

For example, 81.4% of trade attempts in EURUSD were filled with positive or zero slippage, resulting in an average price improvement of 0.0031%. For all trade attempts in EURUSD, on average only 0.8% were rejected when applying default Price Tolerance of 0.01%.

Currency Pair Positive or Zero slippage Negative slippage Average Price Improvement* Average Rejection Rate**
EURUSD 81.4% 18.6% 0.0031% 0.80%
USDJPY 79.8% 20.2% 0.0042% 1.40%
GBPUSD 77.8% 22.2% 0.0057% 2.40%
XAUUSD 76.1% 23.9% 0.0048% 2.30%
AUDUSD 83.0% 17.0% 0.0045% 1.50%
USDCAD 78.8% 21.2% 0.0029% 0.80%
GBPJPY 71.7% 28.3% 0.0063% 3.40%
EURJPY 75.2% 24.8% 0.0036% 1.60%
EURGBP 80.1% 19.9% 0.0051% 1.60%
NZDUSD 83.1% 16.9% 0.0067% 1.80%
XAGUSD 83.0% 17.0% 0.0116% 4.90%
AUDJPY 77.5% 22.5% 0.0051% 2.00%
USDCHF 84.9% 15.1% 0.0034% 0.80%
USDTRY 83.7% 16.3% 0.0071% 1.60%
AUDNZD 86.3% 13.7% 0.0041% 0.70%
USDRUB 86.7% 13.3% 0.0047% 1.40%
TRYJPY 86.6% 13.4% 0.0167% 4.50%
EURNOK 81.0% 19.0% 0.0020% 0.40%
EURAUD 80.6% 19.4% 0.0031% 0.90%
EURCHF 86.6% 13.4% 0.0022% 0.40%

*Average price improvement for trade attempts filled with positive slippage, regardless of the Price Tolerance.

** Average Rejection Rate for trade attempts with default Price Tolerance of 0.01%.

Net Average Price Improvement and Rejection Rate by Price Tolerance

The table below shows average price improvement and average rejection rate, based on Price Tolerance of 0.00% to 0.05%. 

The statistics are based on simulated trade attempts using a Limit IOC order based on Saxo Bank’s actual market prices, trade frequency and volume for the period May 2016 to October 2016.

How to read the table:

Lower Price Tolerance may result in higher average price improvement, however it is important to note that this comes at the expense of a higher rejection rate. 

For example in EURUSD, Price Tolerance of 0.00% would result in an average price improvement of 0.0007% but at the expense of an 18.6% rejection rate.

Average Price Improvement

Instrument 0.00% 0.01%* 0.02% 0.03% 0.04% 0.05%
EURUSD 0.0007% 0.0002% 0.0001% 0.0001% 0.0001% 0.0001%
USDJPY 0.0012% 0.0005% 0.0004% 0.0003% 0.0003% 0.0002%
GBPUSD 0.0018% 0.0009% 0.0006% 0.0005% 0.0005% 0.0004%
XAUUSD 0.0015% 0.0005% 0.0003% 0.0002% 0.0002% 0.0001%
AUDUSD 0.0010% 0.0004% 0.0002% 0.0001% 0.0001% 0.0001%
USDCAD 0.0008% 0.0002% 0.0001% 0.0001% 0.0001% 0.0001%
GBPJPY 0.0025% 0.0012% 0.0009% 0.0008% 0.0007% 0.0006%
EURJPY 0.0012% 0.0004% 0.0003% 0.0002% 0.0001% 0.0001%
EURGBP 0.0013% 0.0006% 0.0005% 0.0004% 0.0004% 0.0003%
NZDUSD 0.0014% 0.0008% 0.0006% 0.0005% 0.0005% 0.0004%
XAGUSD 0.0025% 0.0016% 0.0012% 0.0009% 0.0007% 0.0007%
AUDJPY 0.0015% 0.0006% 0.0004% 0.0003% 0.0003% 0.0003%
USDCHF 0.0006% 0.0002% 0.0001% 0.0001% 0.0001% 0.0001%
USDTRY 0.0014% 0.0009% 0.0008% 0.0007% 0.0006% 0.0006%
AUDNZD 0.0007% 0.0002% 0.0002% 0.0002% 0.0001% 0.0001%
USDRUB 0.0007% 0.0003% 0.0001% 0.0001% 0.0000% 0.0000%
TRYJPY 0.0026% 0.0019% 0.0015% 0.0013% 0.0012% 0.0011%
EURNOK 0.0005% 0.0001% 0.0001% 0.0000% 0.0000% 0.0000%
EURAUD 0.0008% 0.0002% 0.0001% 0.0001% 0.0001% 0.0000%
EURCHF 0.0004% 0.0001% 0.0001% 0.0000% 0.0000% 0.0000%

*Default Price Tolerance for FX Limit IOC orders.  

Average Rejection Rate

Instrument 0.00% 0.01% 0.02% 0.03% 0.04% 0.05%
EURUSD 18.6% 0.8% 0.2% 0.1% 0.0% 0.0%
USDJPY 20.2% 1.4% 0.5% 0.2% 0.1% 0.1%
GBPUSD 22.2% 2.4% 1.0% 0.5% 0.3% 0.2%
XAUUSD 24.0% 2.3% 0.7% 0.3% 0.1% 0.1%
AUDUSD 16.9% 1.5% 0.3% 0.1% 0.1% 0.0%
USDCAD 21.2% 0.8% 0.1% 0.0% 0.0% 0.0%
GBPJPY 28.2% 3.4% 1.5% 1.0% 0.7% 0.5%
EURJPY 24.9% 1.6% 0.6% 0.3% 0.2% 0.1%
EURGBP 19.9% 1.6% 0.5% 0.3% 0.2% 0.1%
NZDUSD 16.9% 1.8% 0.5% 0.3% 0.1% 0.1%
XAGUSD 17.0% 4.9% 2.2% 0.9% 0.5% 0.4%
AUDJPY 22.5% 2.0% 0.6% 0.3% 0.2% 0.1%
USDCHF 15.1% 0.8% 0.2% 0.1% 0.0% 0.0%
USDTRY 16.3% 1.6% 0.7% 0.4% 0.2% 0.2%
AUDNZD 13.7% 0.7% 0.2% 0.1% 0.0% 0.0%
USDRUB 13.2% 1.4% 0.5% 0.2% 0.1% 0.0%
TRYJPY 13.4% 4.5% 2.4% 1.6% 1.2% 1.0%
EURNOK 19.0% 0.4% 0.0% 0.0% 0.0% 0.0%
EURAUD 19.4% 0.9% 0.2% 0.1% 0.1% 0.0%
EURCHF 13.4% 0.4% 0.1% 0.0% 0.0% 0.0%

Historical FX Stop Order Fill Statistics

Order Fill Statistics

The tables below details Saxo Bank’s performance in filling client Stop Orders on the major currency pairs.

  • The data is for all Stop Orders.
  • Limit Orders are not included in the data because they are filled at the order level or better.
  • Market Orders are also not included because they are filled at best available price when executed.

Q3 2016 - 1. July to 30. September 2016

Pair Number of orders Number of orders seeing slippage Percentage filled with no slip Average slippage in pips Median slippage in pips
AUDUSD 8,466 149 98% 0.1 0.0
EURCHF 298 4 99% 0.1 0.0
EURGBP 2,232 41 98% 0.1 0.0
EURJPY 2,663 37 99% 0.1 0.0
EURUSD 24,331 617 97% 0.1 0.0
GBPUSD 13,356 307 98% 0.1 0.0
USDCHF 1,431 33 98% 0.2 0.0
USDJPY 24,082 1,091 95% 0.1 0.0

Q2 2016 - 1. April to 30. June 2016

Pair Number of orders Number of orders seeing slippage Percentage filled with no slip Average slippage in pips Median slippage in pips
AUDUSD 5,597 62 99% 0.0 0.0
EURCHF 414 4 99% 0.0 0.0
EURGBP 919 3 100% 0.0 0.0
EURJPY 2,113 25 99% 0.1 0.0
EURUSD 22,497 232 99% 0.0 0.0
GBPUSD 8,308 138 98% 0.1 0.0
USDCHF 520 2 100% 0.1 0.0
USDJPY 1,474 51 97% 0.1 0.0

Q1 2016 - 1. January to 31. March 2016

Pair Number of orders Number of orders seeing slippage Percentage filled with no slip Average slippage in pips Median slippage in pips
AUDUSD 7,987 102 99% 0.0 0.0
EURCHF 284 2 99% 0.0 0.0
EURGBP 2,046 6 100% 0.0 0.0
EURJPY 2,987 31 99% 0.0 0.0
EURUSD 35,934 616 98% 0.1 0.0
GBPUSD 10,561 44 100% 0.0 0.0
USDCHF 1,894 6 100% 0.0 0.0
USDJPY 20,902 367 98% 0.0 0.0

Q4 2015 - 1. October to 31. December 2015

Pair Number of orders Number of orders seeing slippage Percentage filled with no slip Average slippage in pips Median slippage in pips
AUDUSD 6,534 179 97% 0.1 0.0
EURCHF 623 4 99% 0.0 0.0
EURGBP 1,434 7 100% 0.0 0.0
EURJPY 2,578 49 98% 0.1 0.0
EURUSD 41,885 1,856 96% 0.4 0.0
GBPUSD 7,139 253 96% 0.2 0.0
USDCHF 1,479 21 99% 0.1 0.0
USDJPY 10,017 487 95% 0.4 0.0

Q3 2015 - 1. July to 30. September 2015

Pair Number of orders Number of orders seeing slippage Percentage filled with no slip Average slippage in pips Median slippage in pips
AUDUSD 7,230 244 97% 0.1 0.0
EURCHF 365 2 99% 0.0 0.0
EURGBP 1,501 5 100% 0.0 0.0
EURJPY 3,864 27 99% 0.0 0.0
EURUSD 47,974 2,561 95% 0.1 0.0
GBPUSD 8,073 224 97% 0.2 0.0
USDCHF 1,095 7 99% 0.0 0.0
USDJPY 14,405 929 94% 0.1 0.0

Q2 2015 - 1. April to 30. June 2015

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median Slippage in pips
AUDUSD 9,103 374 96% 0.2 0.0
EURCHF 251 1 100% 0.0 0.0
EURGBP 1,816 26 99% 0.1 0.0
EURJPY 4,859 45 99% 0.0 0.0
EURUSD 85,194 4,517 95% 0.1 0.0
GBPUSD 12,690 417 97% 0.3 0.0
USDCHF 1,021 14 99% 0.1 0.0
USDJPY 12,925 525 96% 0.2 0.0

Q1 2015 - 1. January to 31. March 2015

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median Slippage in pips
AUDUSD 10,038 420 96% 0.1 0.0
EURCHF 1,869 300 84% 16.1 0.0
EURGBP 1,615 5 100% 0.0 0.0
EURJPY 7,690 93 99% 0.0 0.0
EURUSD 83,271 4,610 94% 0.0 0.0
GBPUSD 12,184 283 98% 0.1 0.0
USDCHF 1,401 91 94% 9.4 0.0
USDJPY 29,973 1,100 96% 0.0 0.0

Q4 2014 - 1. October to 31. December 2014

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median Slippage in pips
AUDUSD 5,449 304 94% 0.1 0.0
EURCHF 289 1 100% 0.0 0.0
EURGBP 950 7 99% 0.0 0.0
EURJPY 2,990 25 99% 0.0 0.0
EURUSD 36,585 1,531 96% 0.0 0.0
GBPUSD 6,225 306 95% 0.1 0.0
USDCHF 660 8 99% 0.0 0.0
USDJPY 35,518 3,018 92% 0.0 0.0

Q3 2014 - 1. July to 30. September 2014

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median Slippage in pips
AUDUSD 7,553 476 94% 0.1 0.0
EURCHF 535 3 99% 0.0 0.0
EURGBP 1,648 10 99% 0.0 0.0
EURJPY 3,576 25 99% 0.0 0.0
EURUSD 38,339 1,113 97% 0.1 0.0
GBPUSD 12,632 910 93% 0.1 0.0
USDCHF 1,300 17 99% 0.1 0.0
USDJPY 17,537 400 98% 0.0 0.0

Q2 2014 - 1. April to 30. June 2014

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median slippage in pips
AUDUSD 7,413 349 95% 0.1 0.0
EURCHF 440 7 98% 0.2 0.0
EURGBP 1,270 14 99% 0.1 0.0
EURJPY 7,210 281 96% 0.1 0.0
EURUSD 41,023 1,116 97% 0.0 0.0
GBPUSD 9,480 477 95% 0.1 0.0
USDCHF 2,007 12 99% 0.0 0.0
USDJPY 16,063 519 97% 0.1 0.0

Q1 2014 - 1. January to 31. March 2014

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median slippage in pips
AUDUSD 12,360 637 95% 0.1 0.0
EURCHF 844 4 100% 0.0 0.0
EURGBP 2,317 18 99% 0.0 0.0
EURJPY 8,299 61 99% 0.0 0.0
EURUSD 50,989 968 98% 0.1 0.0
GBPUSD 14,548 1,106 92% 0.1 0.0
USDCHF 3,444 32 99% 0.1 0.0
USDJPY 31,394 765 98% 0.1 0.0

Q4 2013 - 1. October to 31. December 2013

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median slippage in pips
AUDUSD 9,750 484 95% 0.1 0.0
EURCHF 818 2 100% 0.0 0.0
EURGBP 1,558 36 98% 0.1 0.0
EURJPY 6,363 37 99% 0.0 0.0
EURUSD 59,443 1,648 97% 0.1 0.0
GBPUSD 13,847 784 94% 0.2 0.0
USDCHF 3,685 42 99% 0.1 0.0
USDJPY 24,795 786 97% 0.1 0.0

Q3 2013 - 1. July to 30. September 2013

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median slippage in pips
AUDUSD 14,932 1,293 91% 0.7 0.0
EURCHF 735 5 99% 0.0 0.0
EURGBP 1,909 43 98% 0.1 0.0
EURJPY 7,401 132 98% 0.0 0.0
EURUSD 60,866 2,133 96% 0.1 0.0
GBPUSD 13,731 853 94% 0.0 0.0
USDCHF 3,060 49 98% 0.1 0.0
USDJPY 43,716 3,415 92% 0.2 0.0

Q2 2013 - 1. April to 30. June 2013

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median slippage in pips
AUDUSD 14,931 817 95% 0.1 0.0
EURCHF 1,233 23 98% 0.1 0.0
EURGBP 1,727 6 100% 0.0 0.0
EURJPY 23,095 1,770 92% 0.1 0.0
EURUSD 78,384 1,751 98% 0.0 0.0
GBPUSD 13,535 422 97% 0.0 0.0
USDCHF 3,692 24 99% 0.0 0.0
USDJPY 62,208 3,659 94% -0.1 0.0

Q1 2013 - 1. January to 31. March 2013

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median slippage in pips
AUDUSD 7,377 161 98% 0.0 0.0
EURCHF 1,641 9 99% 0.0 0.0
EURGBP 2,506 8 100% 0.0 0.0
EURJPY 43,913 5,618 87% 0.0 0.0
EURUSD 93,576 2,296 98% 0.0 0.0
GBPUSD 15,718 1,434 91% 0.0 0.0
USDCHF 2,051 4 100% 0.0 0.0
USDJPY 28,633 1,928 93% 0.0 0.0

Q4 2012 - 1. October to 31. December 2012

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median slippage in pips
AUDUSD 6,837 201 97% 0.1 0.0
EURCHF 262 1 100% 0.0 0.0
EURGBP 1,121 100% 0.0 0.0
EURJPY 8,711 53 99% 0.0 0.0
EURUSD 69,334 906 99% 0.0 0.0
GBPUSD 6,536 18 100% 0.0 0.0
USDCHF 1,046 4 100% 0.0 0.0
USDJPY 13,859 293 98% 0.1 0.0

Q3 2012 – 1. July to 30. September 2012

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median slippage in pips
AUDUSD 12,425 408 97% 0.1 0
EURCHF 435 37 91% 0.2 0
EURGBP 1,244 6 100% 0 0
EURJPY 6,885 77 99% 0 0
EURUSD 95,858 2,747 97% 0.1 0
GBPUSD 8,162 67 99% 0 0
USDCHF 1,765 5 100% 0 0
USDJPY 8,534 249 97% 0.1 0

Q2 2012 - 1. April to 30. June 2012

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median slippage in pips
AUDUSD 13,565 593 96% 0.2 0
EURCHF 774 19 98% 0.0 0
EURGBP 1,544 33 98% 0.0 0
EURJPY 7,223 208 97% 0.1 0
EURUSD 99,095 2,203 98% 0.0 0
GBPUSD 8,971 354 96% 0.1 0
USDCHF 2,929 45 98% 0.0 0
USDJPY 11,612 276 98% 0.1 0

Q1 2012 - 1. January to 31. March 2012

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median Slippage in pips
AUDUSD 13,757 143 99% 0.1 0
EURCHF 1,579 3 100% 0.0 0
EURGBP 1,693 1 100% 0.0 0
EURJPY 6,131 17 100% 0.0 0
EURUSD 127,224 858 99% 0.0 0
GBPUSD 8,773 89 99% 0.0 0
USDCHF 3,722 13 100% 0.0 0
USDJPY 10,643 20 100% 0.0 0

Q4 2011 - 1. October to 31. December 2011

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median Slippage in pips
AUDUSD 15,832 302 98% 0.1 0
EURCHF 3,822 69 98% 0.2 0
EURGBP 2,033 8 100% 0.0 0
EURJPY 5,426 108 98% 0.2 0
EURUSD 116,833 1,615 99% 0.1 0
GBPUSD 8,822 237 97% 0.1 0
USDCHF 4,049 51 99% 0.1 0
USDJPY 4,558 237 95% 0.4 0

Q3 2011 - 1. July to 30. September 2011

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median Slippage in pips
AUDUSD 12,508 140 99% 0.1 0
EURCHF 15,360 420 97% 0.2 0
EURGBP 2,305 23 99% 0.1 0
EURJPY 7,590 147 98% 0.2 0
EURUSD 114,423 1,291 99% 0.0 0
GBPUSD 9,920 286 97% 0.2 0
USDCHF 7,609 301 96% 0.6 0
USDJPY 8,997 288 97% 0.2 0

H1 2011 - 1. January to 30. June 2011

Pair Number of orders Number of orders seeing slippage Percentage filled with no slippage Average slippage in pips Median Slippage in pips
AUDUSD 21,855 1,866 91% 0.1 0
EURCHF 11,900 1,761 85% 0.2 0
EURGBP 6,354 741 88% 0.1 0
EURJPY 18,730 1,860 90% 0.2 0
EURUSD 234,619 17,647 92% 0.2 0
GBPUSD 27,862 3,319 88% 0.2 0
USDCHF 12,113 1,812 85% 0.2 0
USDJPY 20,174 2,071 90% 0.2 0

Note:

Actual fill levels will always differ from order levels by the amount of the client spread for orders placed on the opposite side of the spread (i.e., buy if bid and sell if offered).  In these cases, therefore, slippage is calculated as that beyond the expected amount given the actual bid/offer spread.  For orders placed on the same side of the spread (i.e., sell if bid and buy if offered), slippage is calculated as the full realized difference between fill and order rates.

Forex Risk Warning

Forex is categorised as a red product as it is considered an investment product with a high complexity and a high risk.


Danish banks are required to categorise investment products offered to retail clients depending on the product’s complexity and risk as: green, yellow or red.

Trade responsibly

Losses can exceed deposits on margin products. Please ensure you understand the risks.

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