Execution Procedures

In a market such as Forex which is extremely unforgiving, execution is undoubtably the most important aspect that can never be overlooked. Delays in any form can account for considerable losses or missed trading opportunities which cannot be revisted, an electronic platform offering liquidity and extremely tight spreads means little when your unable to access the market. Here at Mega Trader FX we pride ourselves with timely exection, fractional pip pricing and comprehensive charting tools which gives you the edge in Forex.

Market execution – No RFQ (request for quote)

With the Mega Trader FX trading platform you never need to query the broker before you trade, the sofisticated trading software is constainly updated in real time and therefore you need do no more than buy or sell. Other brokers require a RFQ (request for quote) which gives tham an advantage as they know which side of the spread you are looking to trade. This may seem like a mute point but over time loosing a pip here and there can cost you considerably in transaction costs, our execution is instant and you are notified of your completed trade immediately.

Placing Orders

Orders can be placed anytime through the Mega Trader FX electronic trading software, in addition you can also trade via telephone and there is 24 hour dealing room and customer support available. Our trading software supports market, limit, stop and trailing stop orders. Alternatively you may trade via telephone, speaking directly with one of our dealers. Once you open a position it remains open until the matching closing trade is executed. Open positions are constantly revalued at the current market price, updating your account balance, margin requirements all in real time.

Guaranteed fills on market orders up to 50 lots (5 million)

Mega Trader FX gives you the ability to trade up to 5 million in one click. If you wish in larger amounts greater than 50 lots, you can do multiple trades or call our dealing desk and place higher position trades directly.

Mega Trader FX provides guaranteed fills on stop loss and limit orders

All stop and limit orders up to 50 lots (5 million) are guaranteed to be filled at your designated price. Megatraderforex understands that stop loss and limit orders are a crutial part of a professional Forex traders risk management and hedging strategy and therefore take this very seriously.

In normal market conditions (Liquid, low volatility), spot orders will be executed at the price the client clicks on, guaranteed no slippage.
Close at market best orders will execute the client's trade at the best market price possible. This can be in the client's favor or against. Mega Trader FX taps into over 75% of the global foreign exchange liquidity through some of the largest financial institutions in the world.
Stop and Limit orders will be executed once the market has reached the client's designated price which can also be called the "trigger" (Ask on a Buy and Bid on a Sell). Stop and Limit orders will be executed at the best market price – this can be in the client's favor or against.
Trading during Volatile or Illiquid Markets
In extreme market conditions (volatility spikes due to news and other factors that affect FX markets) market orders will still be executed at market price if the prices haven’t moved in the accepted latency times. However, when the price has moved significantly you will not be filled at a different price than what was clicked. Your trade is rejected and you have to click again. Stop and Limit orders will be executed at the best available price. This can be in the client’s favor or against. Spreads may widen yet Mega Trader FX makes every effort to keep these spreads as low and rare as possible through its partnerships with multiple liquidity providers.
Holiday/Weekend execution
The foreign exchange markets close on the weekends as liquidity drops to untradeable levels. The weekend starts at 23:00 CET on Friday and ends at 23:00 CET on Sunday. During these times all Mega Trader FX trading platforms are not tradable and can only be accessed on a "view-only" basis. Aditionally the dealing desk and customer support services are suspended.
During the weekend, no spot market orders can be placed into the market and prices will be frozen on the platform (as no prices are quoted).
No alterations to existing positions or pending orders are possible during the weekend pause.
Pending Limit or Stop orders (limit, stop, trailing stop, OCO, IF-DONE, IF-DONE OCO included) will be executed at "Market Best" on the Sunday open – hence the stop or limit order becomes a "spot at market best" order at the opening price.
Note. Traders should be aware that there can be market gaps from the Friday close to the Sunday opening (certain information or news can cause this). A price gap such as this can result in an open position being liquated at the first available price on the market open for the corresponding position size. 

FX Trading with Mega Trader FX

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