It seems to me that a market order on most (all?) forex platforms is actually not a market order, but a limit order, which also executes (with the given/shown price), even if the price has moved on a bit already. This has a good and a bad side for me, good is that the price is guaranteed, bad is that if the market is moving fast, a market order might not be executed at all. Can someone explain this and point out how different platforms handle this? How are the platforms handling limit/stop orders? Do they also always execute for the given limit/stop price, or can there be slippage? Again, can someone explain this and point out how different platforms handle this?
Yeah I have had a lot of sucess with IFX Markets on market orders and limit orders. I don't know how other FCM's are, but for market orders and entry orders, the slippage is very minimal. I would be interested to try others to see how it compares... just my 2 cents
So what does this mean for IFX, do they execute "market" and "limit to market" orders as real market orders (witht he price at the time where the order hits the execution engine), or do they execute with the price you "saw" in the interface or the limit price you defined?