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September 20, 2019

Order Execution Speed Ranking & Comparison of Forex and CFD brokers

Ping or order execution speed can make a huge difference when you trade Forex and CFDs.

hercules-order-execution-speed-ping-mt4-mt5 hercules-order-execution-speed-ping-mt4-mt5

Why you should know the speed of “Order Execution”?

There are hundreds of online Forex and CFD brokers, and when you look for one to trade with, you may have already noticed that many brokers mention their “Order Execution Speed”.

“Order Execution Speed” is involved when you make orders of Forex and CFD positions on the trading platforms.

It is the time taken from the moment you make the order until the order to be executed by the broker or liquidity providers.

Investors obviously look for faster order execution if they can make the choices.

If the order execution speed is faster, then the orders will experience:

  1. Less slippage
    Orders being executed at a different price than the requested price because the market price has changed while the order was delivered to the market.
  2. Less rejection
    Orders being rejected (not executed) because the amount of slippage has exceeded the limit set by the broker.
  3. Less re-quotes
    Orders coming back to you and ask for another market price to be executed because the price you requested doesn’t exist.

It is important to know the speed of execution when choosing the broker to trade with.

List of Forex Brokers

Ranking of Forex Order Execution Speed

To give you some ideas of “Order Execution Speed”, we have summarized the data from a number of online Forex and CFD brokers in the table below.

The numbers within the below table are the official numbers published by each broker.

Online Forex and CFD Brokers Order Execution Speed
IC Markets From 0.001 second
Yadix From 0.006 to 0.15 seconds
HYCM 0.012 seconds
JustForex 0.01 seconds
Land-FX Less than 0.035 seconds
IC Markets Less than 0.04 seconds
InstaForex From 0.05 seconds
Valutrades 0.05 seconds
Tickmill 0.15 seconds on average
FBS Less than 0.4 seconds
XM Less than 1 seconds (99.35% of all orders)
FXTM Milliseconds in Speed of Execution

The table shows that Forex brokers’ “Order Execution Speed” differs from 1 millisecond which is 0.001 second to about a second.

Full list of Online Forex and CFD Brokers

Forex Execution Speed depends on many factors

Although the above table shows the numbers published by brokers officially, but they don’t necessarily mean that they are the case for you too.

“Order Execution Speed” of Forex and CFD market can be affected by many factors, such as:

  • Your location
  • The speed of the internet connection you are using
  • The spec of your device (PC or Mobile)

So you can actually refer to those numbers in the table as your reference, but not as the exact time which your orders will be executed.

For example, your broker might mention that the average order execution speed is 0.001 second, but the actual speed on your side might be 1 second.

Thankfully, there are some ways to find out the actual “Order Execution Speed” of your broker on your computer in real-time.

Online Forex and CFD Brokers Ranking

How do you check Forex Execution Speed?

The most popular Forex trading platform in the world, MT4 (MetaTrader4) and MT5 (MetaTrader5) let you find out the “ping”, the speed of connection the server which your platform will be connected.

The “ping” will be the base reference of your account’s “Order Execution Speed”.

To check the “ping”, go to “File” and “Open an account” as below.

order-execution-speed-ping-mt4-mt5

Then in the pop-up screen, you can search for the trading servers you are looking for.

You may search your brokers’ servers by name or IP address.

trading-server-mt5-metatrader5-ping-latency

As you can see, you will see the real-time “ping” on the right of the screen.

In there, you can search for unlimited number of available trading servers and compare the “ping”, the speed of execution.

The “ping” can be also different depending on the server location, even if the broker is the same.

For example, XM has a number of trading servers.

Normally, each account of XM trader is allocated to a specified trading server, but as you can see the ping can be slightly different depending on the server.

xm mt4 metatrader4 trading server ping ms list login trading platform

The differences can be much larger if a broker has servers located in different places.

If you are looking for an online Forex and CFD broker to trade with, then you may want to look into the numbers of “ping” next time to know more about your own broker.

List of Online Forex and CFD Brokers

All Forex Brokers

  • IFC Markets
  • FxPro
  • IronFX
  • Axiory
  • FBS
  • Land-FX
  • MyFX Markets
  • Titan FX
  • Traders Trust
  • XM
  • LMFX
  • FXDD
  • ForexClub
  • KVB Kunlun
  • Tradeview
  • EightCap
  • FXOpen
  • HotForex
  • FXGiants
  • LQDFX
  • Fortrade
  • CM Trading
  • InstaForex
  • FXPRIMUS
  • ForexMart
  • Valutrades
  • AvaTrade
  • Yadix
  • RFXT
  • easyMarkets
  • JustForex
  • Swiss Markets
  • FXTM
  • HYCM
  • FP Markets
  • SimpleFX
  • IC Markets
  • Evolve Markets
  • Tickmill
  • Markets.com
  • Z.com Trade
  • UFX
  • Anzo Capital
  • LiteForex
  • 4xCube
  • OctaFX
  • Tifia
  • XTB
  • AAAFx
  • NordFX
  • FXGlory
  • Capex
  • ClickTrades
  • TopstepFX
  • HotForex ZA (South Africa)
  • XMTrading

All Crypto-Currency Exchanges

  • CEX.IO
  • HitBTC
  • Paxful
  • BitMEX
  • C-CEX
  • Binance
  • Cryptopia
  • YObit
  • Wisebitcoin
  • Bibox
  • BKEX
  • CoinPark
  • CoinEx
  • IRONX
  • CoinField
  • bybit
  • Bitpanda

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