Execution model: how orders are filled.
What happens between the click and the fill, who provides the price, what each account costs and which factors can make your order fill at a different price from the one you saw.
The model, in one paragraph.
VexPro runs an STP/ECN model: orders are routed to liquidity providers for execution rather than managed against an internal market-making book. Group liquidity is provided by Exura Prime Ltd., an Investment Dealer regulated by the FSC of Mauritius, which aggregates prices from Tier-1 banks and ECNs to deliver real book depth in FX, metals, indices and other assets. All trading is executed on MetaTrader 5, with a published average execution latency of under 20 ms; that figure is an average, not a per-order guarantee.
Four steps between the click and the fill.
This is how an order travels in an STP/ECN model like VexPro’s.
- 1
You send the order on MT5
From web, desktop or mobile, with the order type and volume you have set in the platform.
- 2
The order reaches the trading server
The server validates available margin and your account conditions before routing it.
- 3
It is routed to liquidity
The order is sent to the liquidity provider, which returns the best price available in the aggregated book at that instant.
- 4
The fill is confirmed
Execution is confirmed and the position appears in your terminal at the actual price it was filled.
What trading costs on each account.
Published costs by account type. On ECN the cost sits in the commission; on STP, CENT and Synthetics it is built into the spread.
-
ECN
Institutional spreads for expert profiles
- Spread from 0.0 pips
- Commission $10 / lot (round turn)
- +700 instruments
- Execution < 20 ms (average)
-
STP
No commission, cost inside the spread
- Spread from 1.0 pips
- No commission
- +500 instruments
- Execution < 20 ms (average)
-
CENT
Trading in cents, minimal exposure
- Spread from 1.5 pips
- No commission
- +500 instruments
- Execution < 20 ms (average)
-
Synthetics
Synthetic indices, markets open 24/7
- Spread from 0.0 pips
- No commission
- +70 synthetic indices
- Execution < 20 ms (average)
All accounts trade on MetaTrader 5, and Real and Demo accounts share the same conditions. Specific conditions are subject to the Terms and Conditions.
Why your price may not be the one you saw.
No execution model removes these factors. We would rather explain them before you run into them.
-
Slippage: between submission and execution the market can move, and the order fills at the best price available at that moment, which may be better or worse than the one requested.
-
Gaps: at the weekly open or after a major event the price can jump with no intermediate quotes, and orders such as a stop loss execute at the first price available after the gap.
-
Volatility and news: around macroeconomic releases spreads widen and book depth thins, which affects the fill price.
-
Your own latency: the sub-20 ms figure refers to average server-side execution and does not include the latency of your network or device.
-
Synthetic indices trade 24/7 and are unaffected by news or opening gaps, but they carry high volatility by design.
Execution: the most frequent questions.
The answer in the first sentence; the detail after it.
Does VexPro trade against its clients?
The published model is STP/ECN: orders are routed to liquidity providers for execution rather than managed against an internal market-making book. Liquidity is provided by Exura Prime Ltd., the group LP regulated by the FSC of Mauritius, which aggregates prices from Tier-1 banks and ECNs. The applicable contractual terms are set out in the Terms and Conditions.
Who provides the prices I see on the platform?
Exura Prime Ltd., the VEX group’s liquidity provider, regulated as an Investment Dealer by the Financial Services Commission (FSC) of Mauritius (Reg. 235905 GBC, Licence GB26206361). Exura Prime aggregates prices from Tier-1 banks and ECNs to deliver book depth in FX, metals, indices and other assets.
What does “execution < 20 ms (average)” mean?
It is the published average execution latency across all account types: an average, not a commitment for any individual order. It excludes the latency of your connection and device, and it can vary under extreme market conditions.
Why did my stop loss fill at a worse price?
Usually because of slippage or a price gap: a stop loss becomes a market order once the level is touched and fills at the best price available at that instant, which in a sharp move or at the open can be beyond the level you set. That is market behaviour, not a broker setting.
What do I pay to trade?
On the ECN account, spreads from 0.0 pips plus a commission of $10 per lot (round turn); on STP, CENT and Synthetics there is no commission and the cost is built into the spread, from 1.0 pips on STP, 1.5 pips on CENT and 0.0 pips on Synthetics. Spreads are variable and widen in periods of low liquidity.
Where to see the full conditions.
Trade with confidence.
Work with structure.
Grow with VexPro.
Open your account today and trade the world’s markets with the backing of a global financial group.
