The way you set an order could determine the fate of your trades. In that case, Exness has market and pending orders as well as Market and Instant Executions.

During order execution, a buy or sell position may be accepted or completed in favor of the client. However, there is a number of order execution types with different mechanisms and purposes to elevate one's trading experience. In relation to it, Exness accounts provide several order types.

Order Execution Types in Exness

By and large, Exness account types offer two standard order types, namely the market order and the pending order, that are applied to all Standard and Professional ones. There's also an addition of 2 order execution types: Market and Instant Executions.

In relation to market and pending orders, the earlier is brought into execution once activated, provided that Buy and Sell as the primary orders have been made completely part of it. 'Buy' refers to a buy order, which opens with the Ask price and closes at the Bid price, whereas 'Sell' refers to a sell order which opens with the Bid price and closes at the Ask price. The latter aims to set conditions for automatic execution of orders.

Meanwhile, pending orders facilitate a condition where you can set a position now to be executed later. Once you arrive at a certain price or level, the order will be activated automatically. Pending orders can include but are not limited to:

  • Buy Limit, i.e. setting a buy price at a lower rate than that of the current ask price.
  • Sell Limit, i.e. setting a sell price at a higher rate than that of the current bid price.
  • Take Profit, i.e. closing the order, immediately after reaching the user-set level of profit.
  • Buy Stop, i.e. setting a buy price at a higher level than that of the current ask price, as well as executing the order, once arriving at that price.
  • Sell Stop, i.e. setting a sell price at a lower level than that of the current bid price, as well as executing the order, once arriving at that price;
  • Stop Loss, i.e. closing the order, once arriving at the user-set level of loss.
  • Buy Stop Limit (limited to MT5)- The combination of Buy Stop and Buy Limit.
  • Sell Stop Limit (limited to MT5) – The combination of Sell Stop and Sell Limit.

Exness account types may not provide all order types at the same time. Here's a table explaining how Exness divides their order execution types in each account:

Order Types in Exness Accounts

 

What Are Types of Order Executions in Exness?

Exness provides 2 types of order execution, namely Market Execution and Instant Execution. With slight differences, each order execution brings different benefits and features:

Website
Established
2008
Leverage
1:2000
Min Deposit
$10
Regulation
FSA (Seychelles), CBCS (Curacao), FSC (BVI), FSCA, CMA (Kenya), FCA, CySEC, ESMA
PAMM
Trading contests
LAMM
Segregated accounts
VPS
Free education
Islamic account
Copy trading
Compensation scheme
Negative balance protection
Low spread eur/usd
Affiliate program
Trading via API
WebMoney
Wire transfer
Skrill
Neteller

The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice.

Exness covers its lack of feature variations with other advantages like low spreads starting from only 0.1 pip. This is very suitable for traders who use scalping strategies (Scalper). Spreads on major pairs in certain account types can also be as low as 0.0 pip, depending on market conditions.

Not only that, but traders can also enjoy other advantages such as automatic fund withdrawals. Exness processes the majority of client withdrawals instantly, without manual checks; however, withdrawals may be subject tos depending on the payment provider or method of choice.

The safety of traders' funds is also guaranteed as Exness is one of the European-based STP/ECN brokers. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July 2017, also provides evidence that the company has high solidity.

Deposits and withdrawals may be made 24 hours a day, 7 days a week. However, it is important to note that the company shall not be liable fors in processing deposits and withdrawals if suchs are caused by the payment system.

Traders do not need to worry about transaction fees when depositing and withdrawing. Exness doesn't charge any transaction fees to traders even though some charges may be incurred depending on the payment provider of choice. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.

The financial reports and metrics on the Exness website are audited quarterly by Deloitte, one of the four largest public accounting firms globally.

Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.

The platforms provided by Exness vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime.

Over the years, Exness has developed into a broker that attracts traders. Trader's trust is further enhanced by its compliance with financial regulations like the FCA and CySEC.

One measure of client confidence can be put on the trading volume. By December 2018, their clients' monthly trading volume reached USD348.4 billion and active traders around the world surpassed 50,342.

Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners. From the Introducing Broker (IB) program, partners can earn up to 33% spread commission from every new client that registers with them.

Additional income can also be obtained from Exness Partners. Traders can get a spread commission of up to 25% per transaction made by traders who register through an affiliate link.

When trading with Exness, clients can also make use of its free VPS hosting services. A VPS (Virtual Private Server) offers increased reliability and stability for traders as they can maintain their trades and expert advisors without interruption in the event of unexpected technical issues, such as internet or electricity downtime.

From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types. This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also well known for its maximum support on both new and existing partners.

 

Instant Execution

Instant Execution refers to a method where brokers execute orders at prices requested by the trader, or else, zero orders. The following terms commonly occur in Instant Execution:

  • Requote
    A requote may result from the clash between the order and price requested by the trader due to the constantly changing price. Thereby, traders are informed about their requested price, which is no longer available. Responding to this, they are prompted to accept or reject the new price. Their acceptance will activate the new price, while rejection or failure to answer the requote will end with the entire order cancelation.

  • Deviation
    Automatic order setting is also available should traders prefer automatic order execution when a certain range or deviation takes place, regarding the price requested. Should a price change due to the trader's setting, order execution is to be made on a price correction. When the price exceeds the deviation, a requote will be provided for the trader where options to accept, reject or ignore it are available, coming with the identic previous outcome.

    Here is an example. A trader may request a price on 1 lot of GBPUSD at 1.30442, with a deviation set to 0.5. Should the price change to 1.80442 or 0.80442, such an order will automatically be executed at 1.80442 or 0.80442. However, when the higher price is, for example, 1.80443 or the lower price is, 0.80441, a requote will occur.

 

Market Execution

Market execution refers to a method where traders execute orders at the current price, within fractions of a second during the order processing. Such prices may either be lower or higher than that seen by traders in the terminal window, along with constantly changing prices.

Market Execution and Instant Execution are separated by a strong line, in which requotes are not to occur with the earlier. Still, be aware that during a period of market volatility, you are at a higher risk since a strong price fluctuation may take place shortly.

The following table will compare the two types of order execution:

Order Executions Comparison