Hi,

when I place bid or place offer, my orders sometimes are executed for a very bad price. To be honest, most of the time I am getting much worse price then was my order. For example, the current Ask price is 136.33, I place offer in order to sell at 136.35, however my order is filled only when the price is somewhere between 136.38-136.40. This means that I am getting the price 3-5 pips worse than I would get just by market order. I am trading in demo account. I never get the price which is written in the order. Its always 2-4 pips worse. The funniest thing is that at some point my ask is 2 pips better than the ask I see on the platform, even standing for some time, but no one takes it..

What could be the problem? maybe its only in demo?

Thank you.

Dear sir,

Bid and offer orders are disclosed to all internal marketplace participants, that is, to the other clients.

You are able to capture any market order sent by internal marketplace participants should your order be the
best bid, or best offer at the time. However, compared with the whole liquidity of the marketplace, the
internal one is relatively scarce. The probability of capturing a internal market order is therefore low, but as
internal liquidity increases over time, so does that probability.

Unfortunately, bid/offer orders cannot be dispatched to every external liquidity source, because it would run the
risk of multiple execution. This is the reason why bid orders get usually executed when the general market ask level reaches
the price limit of the bid, and ask orders get usually executed when the general market bid level reaches the price limit of the offer.

Consequently, this is highly likely to notice a better bid (compared to the limit offer order price) immediately after the execution of an offer, and/or a better ask (compared to the limit bid price) immediately after the execution of a bid.

However, there is no alteration in the execution process. As soon as there is a probability for executing the limit order (bid/offer), the attempt is made. During the time necessary for getting the execution confirmation back to the client's application, the market might move away from the original price level of the bid/offer and this visual effect is more acute under high market volatility and wide market spread.

Shoul you need any further clarification, please do not hesitate to contact us.

Best regards.