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I opened a market order but did not get the market price I saw, why?

Friedberg Direct takes the required steps to ensure that the execution of our quoted prices provide clients with the best possible result. On some occasions, due to fast moving markets, executions may be at a price which is no longer the clients requested price. This is known as slippage. During such times, your order type, quantity and specific order instruction play a key part on the execution received.

EXAMPLES OF SPECIFIC ORDER INSTRUCTIONS INCLUDE:

  • Good 'Til Cancelled ("GTC") Orders: Your entire order will be filled at the next available price(s) at the time it is received.
  • Immediate or Cancel ("IOC") Orders: All or part of your order will be filled at the next available price with the remaining amount cancelled should liquidity not exist to fill your order immediately.
  • Fill or Kill ("FOK") Orders: The order must be filled in its entirety or not at all.

In times where there may be a potential possibility of slippage, a trader may implement the Fill or Kill option, which ensures that all tickets are filled at the specific price and if not possible, then no orders will be opened. 

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Order Execution Only

Order Execution Only

Regulatory Documents:
IIROC Brochure: How Can I Get My Money Back, How IIROC Protects Investors, IIROC Complaints Brochure, CIPF Brochure, CIPF Coverage Policy, IIROC Order Execution Only Bulletin, Conflict Disclosure Statement, Covid-19 and Cyber Security - Tips for Investors, Relationship Disclosure Information Document, Before You Begin Trading

The relationship between Friedberg Direct and FXCM was formed with the purpose to allow Canadian residents access to FXCM's suite of products, while maintaining their accounts with a regulated Canadian firm. All accounts are opened by and held with Friedberg Direct, a division of Friedberg Mercantile Group Ltd., a member of the Investment Industry Regulatory Organization of Canada (IIROC). Friedberg customer accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of coverage is available upon request or at www.cipf.ca.