Providing market leading pricing and execution is Flexiblefxtrade’s #1 purpose.
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Flexiblefxtrade aims to be the #1 retail broker in the world for pricing and execution across all forex and metals. You can read more about our purpose. To achieve our goal of becoming the #1 broker in the world for pricing and execution, and thus achieving best execution for our clients, we consider the following factors:
Consistently tight spreads are the most effective way of reducing trading costs. We encourage price competitiveness between our 20+ trading counterparties through our unique ECN model. Our liquidity providers compress their spreads to compete for our clients flow.
Our spreads rank amongst the tightest in the world across all FX, metals, indices and commodities products.
| Symbol | Description | Min | Avg |
|---|---|---|---|
| EURUSD | Euro vs United States Dollar | 0.0 | 0.1 |
| AUDUSD | Australian Dollar vs United States Dollar | 0.0 | 0.1 |
| XAUUSD | Gold vs United States Dollar | 0.0 | 12.8c |
| XTIUSD | WTI Crude Oil Spot vs United States Dollar | 1.6 | 1.6c |
| GER30 | DAX Germany 30 Index | 0.6 | 0.7 |
Price reliability and integrity is about ensuring that our prices are in line with market prices.
This means our market mid point is in line with other providers or the underlying markets that the product is based off. This takes into consideration factors such as news events, rollover, periods of illiquidity, fair value and so on.
| Market | Q1-19 | Q2-19 | Q3-19 | Q4-19 |
|---|---|---|---|---|
| Crypto | 4.52%* | 1.78% | 1.78% | 1.52% |
| Commodities | 1.48% | 0.70% | 0.40% | 0.38% |
| Indices | 1.27% | 0.27% | 0.49% | 1.46% |
*For Crypto Q1-19. JPY flash crash on 2 January 2019.
Slippage is the difference between the requested price and the fill price or (more accurately) the market price at the time the order is received and the fill price.
| Market | Positive | At Price | Negative |
|---|---|---|---|
| Crypto | 19.56% | 66.86% | 13.58% |
| Commodities | 12.87% | 67.43% | 19.70% |
| Indices | 25.84% | 51.65% | 22.51% |
While this information doesn’t form part of our client agreement, this is information that we expect to be held accountable to, and which we are always happy to verify, as all brokers should.
Due to ticket fees imposed on the execution of small trades by our prime broker, forex trades less than 50,000, XAU trades less than or equal to 30oz are executed internally by Gleneagle Securities and batch hedged once the position size exceeds the prime broker minimum. This means Gleneagle Securities will take the other side of the trade until the position grows to greater than 100,000, or an opposing trade comes in from another client.
These interbank minimum ticket fee charges are standard across all FX market participants who trade via ‘prime broker’ and the process of batch hedging small tickets to avoid excessive clearing charges is also common place.
| Asset Class | Pricing | Execution | Comments |
|---|---|---|---|
| Crypto | ECN Tier-1 banks, non-bank market makers and institutional ECNs | STP | NDD Trades are executed back-to-back with LPs | FX Trades < 50,000 are executed internally and batch hedged. |
| Metals | ECN Tier-1 banks, non-bank market makers and institutional ECNs | STP | NDD | XAU trades <= 30oz are executed internally and batch hedged. |
| Indices | Non-bank market makers | STP | NDD* Trades are executed back-to-back with CFD LPs | |
| Energies | Non-bank market makers | STP | NDD* Trades are executed back-to-back with CFD LPs |
*Refer to our ‘how we make money’ page for pricing and execution disclosures regarding non-bank market makers on our Indices and Energies products.
As an ECN, STP and NDD broker, our focus is to find the best trading counterparties for your trades.
Flexiblefxtrade executes all trades on a back to back, 1:1 basis, with the group parent Gleneagle Securities Pty Ltd. Gleneagle maintains all prime broker and trading relationships for the group. Gleneagle Securities executes trades with the trading counterparties below for Flexiblefxtrade.
When you request a trade receipt from Flexiblefxtrade, one of these trading counterparties will always feature - assuming the trade is above the interbank minimum.
| Banks | Non-bank Market Makers |
|---|---|
| BARCLAYS BANK PLC | XTX Markets |
| BNP PARIBAS | HC Tech |
| COMMERZBANK AG | Citadel Securities |
| CREDIT SUISSE | Jump Trading |
| GOLDMAN SACHS | Vidarr Capital |
| HSBC | Virtu |
| Natwest | LMAX |
| STANDARD CHARTERED BANK | |
| UBS AG EB |
| Brokers/Prime of Primes | Institutional ECNs & Aggregators |
|---|---|
| CFH | FlexTrade |
| CMC | HotSpot |
| Exante | Currenex |
| Fastmatch | |
| EBS |
When you trade with Flexiblefxtrade, we execute your trades as principal since we issue the product to you, i.e. we are the financial services provider giving you the product.
This legal relationship does not mean your trade is not executed by one of the group's liquidity providers, it just means that Flexiblefxtrade is the legal counterparty to your trade. This legal relationship will be the same wherever you trade unless the broker is an ‘agent’, i.e. They’re a middleman between you and the real broker, who you will trade with as principal. This is generally how OTC markets operate.
Flexiblefxtrade cannot act as an agent between a trader and the market since this would require the trader to have a relationship with the prime broker, which they could not do without tens of millions of capital behind them. Flexiblefxtrade can and does facilitate such arrangements for institutional traders that have their own prime broker.
Flexiblefxtrade is the legal counterparty to all of your trades. We are the financial services provider issuing the product to you and we are trading with you as principal.
Flexiblefxtrade offsets 100% of its market risk with Gleneagle Securities Pty Ltd who in turn offsets most of this risk with its trading counterparties - banks, non-banks and ECNs. See the small trades section above for how small trades are executed.
Despite the fact that we are the counterparty to your trades, we are always able to demonstrate which liquidity provider filled your trades and this is the core difference between Flexiblefxtrade’s ECN, STP, NDD business model and 99.99% of other brokers.
Electronic Communications Networks or ‘ECNs’ are off-exchange execution venues which allow market participants to trade with a range of counterparties anonymously. They are the main trading venues for OTC markets such as Foreign Exchange and Metals.
This basically means ECNs provide the technology and venue for price makers aka ‘liquidity providers’ to distribute their liquidity. Price takers (traders) can see these prices and execute trades against them. The ECN is therefore responsible for prices/quotes and the execution of orders.
See our ECN page for a detailed overview of the Flexiblefxtrade ECN offering.
When you place a trade at Flexiblefxtrade, that trade is offset with one of our hedge counterparties. A hedge counterparty is an entity who Flexiblefxtrade trades with, to fill your trades. This basically means that your trade is matched via our ECN and hedged with our liquidity providers simultaneously.
Best execution refers to our continued efforts to create the ultimate trading environment for clients. This takes the form of our team's commitment to ensuring we can provide clients with a seamless trading experience that combines competitive spreads, swaps and execution speeds with industry leading reliability and infrastructure.
We achieve this by holding our 26 + LP’s to high standards and ensure that they are pricing us their most competitive offering. Our unique ECN model enables LP’s to compress their spread and compete for clients' flow. This has resulted in our spreads ranking amongst the tightest in the world across all FX and metals, indices and commodities products.
We ensure integrity and reliability by holding our counterparties to a very high standard and we strive to ensure our prices are always in line with the market. Accordingly, our market mid point is in line with other providers or the underlying market off which it is based.
Our industry leading liquidity pool enables us to provide substantial market depth and a diverse range of liquidity. This has translated into an incredible 99% fill rate with as little as 1% of orders being rejected.
See the performance of every trade execution including the liquidity provider behind your trade.
MT4, TraderEvolution and TradingView. Fully supported.
Commission FreeOur new lowest fee model. Trade EURUSD from 0.4 pips round turn with no added commissions Apply Now | Spreads + CommissionTraditional ECN fee model with spreads from 0.0 pips and $7/lot commission. Apply Now | |
|---|---|---|
| Spread From | 0.4 Pips | 0.0 Pips |
| Commission | $0 | $7 per round turn lot |
| Starting Deposit | $200 | $200 |
| Platforms | MT4, TraderEvolution, TradingView | MT4, TraderEvolution, TradingView |
| Server Location | New York | New York |
| Execution speeds from | 1ms | 1ms |
| Micro lot trading(0.01) |  | |
| 100+ Markets | 100+ Markets FX, Indices, Commodities, Digital Currencies, Shares, Bonds | 100+ Markets FX, Indices, Commodities, Digital Currencies, Shares, Bonds |
| One Click Trading | | |
| Trading Styles Allowed | All | All |
| Order Distance Restriction | None | None |
| Suitable For | All Traders | All Traders |
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