Scope #
This policy explains how AuxiliumFX Limited executes client orders for CFDs on the MetaTrader 5 platform. It forms part of our Client Agreement.
Our execution model #
We act as principal and are the counterparty to your trades. Orders on all account types are executed on a market execution basis. We may hedge our exposure with one or more liquidity providers. Because we are your counterparty, a conflict of interest can arise; we manage it by pricing from external market sources and applying the same execution rules to all clients.
Execution factors #
When executing your order, we consider price, costs, speed, likelihood of execution and settlement, order size and type, and market conditions. For retail clients, total cost (price plus costs) is usually the most important factor.
How prices are formed #
Our bid and ask prices are derived from prices supplied by our liquidity providers and other market data sources, plus our spread or markup. Prices may differ from those on other platforms or exchanges.
Order types #
- Market orders: buy or sell at the best available price.
- Limit orders: buy below or sell above the current price. Executed at the requested price or better.
- Stop orders, including stop-loss: become market orders once the stop price is reached, and may be filled at a worse price in fast markets or gaps.
- Take-profit orders: close a position at a target price or better.
Slippage #
Slippage is the difference between the price you requested and the price at which your order is filled. It can be positive or negative and is applied symmetrically. It is more likely during high volatility, news releases, market open and low liquidity.
Monitoring and review #
We regularly review the quality of our execution and our price feeds, and will update this policy when needed. You can ask us questions about how an order was executed by contacting support@auxiliumfx.com.
