Execution Price and Impact Cost

The execution quote is dynamic, incorporating liquidity costs.

Quote Formula

Buy [QuoteAsk] = MarkAsk + ImpactPrice(N)

Sell [QuoteBid] = MarkBid - ImpactPrice(N)

Impact cost increases with order size, larger orders are more likely to move the market price. The platform provides an estimated impact cost before you confirm your order.

ImpactPrice(N) Model

It simulates market liquidity and determines the impact cost based on the order’s notional size (notional tier).

ImpactPrice(N) = pip_final(N) × pip_size

pip_final(N) = pip_base (by notional tier) × session multiplier

Includes transparent size-based costs for predictable outcomes.

Session Multiplier

Adjusts ImpactPrice(N) for changing market conditions (light, normal, peak/event) to reflect real execution costs.

Execution Report

Before submitting your trade, you will get the quote and an estimated fill price. After the trade has been placed, you will receive a detailed report (avg. fill price, notional, impact cost, cross-tier fills, and timestamps) as a verifiable record of execution.