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A unique feature to our pricing is the ability to set price tolerance. Tolerance enables you to determine the amount of slippage that you will be happy to accept on any individual trade, where slippage is the difference between the price quoted at the time the client entered the order and the price quoted when we execute the order.
We will set a default Tolerance for each market.
Tolerance implies “I want to deal at the price I clicked, or if no longer available, I will accept a worse price limited by the amount of tolerance set.”
As a client, you can reset/override the tolerance to your preferred level for each market on the Advantage Web Platform.
E.g. EUR/USD is 1.40358-1.40373 with Tolerance 2, if you click to sell at 1.40358 you will trade at our bid if it is 1.40338 or higher.
We offer our clients price improvement technology: If for the same example the EUR/USD bid price is 1.40358 when the trade is executed, the price improves to 1.40388”.(A three-pip improvement) the client will receive the price improvement.
Both of our trading platforms operate with a Capped Variable Spread (CVS) model, which is the pricing method we use to calculate our quoted spread on the trading platform. By definition the spread which we quote varies depending on the prevailing spread in the underlying market; the maximum amount we will increase our spread to is defined as the ‘cap’ and conversely the minimum is called the ‘floor’.
Under normal market conditions our spread will remain at or closer to the floor, only rising in times when market conditions (such as volatility and volume) change, such as the announcement of economic data or intervention from central banks etc.
Typically the ‘floor’ will be significantly lower than any ‘fixed’ spreads quoted by other companies and the ‘cap’ can provide a significant competitive advantage over the many other companies who provide variable spreads with no limit to width with which they will widen their spreads.
Our Standard Account offers 37 currency pairs, all traded with Capped Variable Spreads. To view the full list of pairs and their specifications, please see the spreads and prices section of our website.