What is tiered pricing and how does it work?

• Small and medium trades
  These trades – which account for the majority of those placed – will fall within the lowest price tier and, as such, be executed at our tightest spreads. A pricing table will therefore not appear on corresponding deal tickets.

Recent trade history

Recent trades will be included when determining the size – and therefore the price tier – of your current trade if they were placed:

1. On the same instrument
2. In the same direction (ie long or short)
3. Within a specific time frame^*

Where applicable, a timer will appear on the deal ticket. When the timer reaches zero, your recent trades will no longer contribute towards your current trade size.

Example

You place a trade for 25 long CFDs when the markets open.

Five seconds later, you place a second trade for 45 long CFDs.

Another five seconds later, you want to place a trade for 55 long CFDs.

Since all three trades are on the same instrument (CFDs), in the same direction (long) and placed within a specific time frame,* they’ll all be taken into account when determining the size and price tier of your final trade.

So, your final trade will be priced based on a combined size of 125 (25 + 45 + 55).

Stop orders

Stop orders will be priced upon execution in the same way as standard orders, ie according to their tier (which is determined by their size and your recent trade history). This may result in price slippage.

^* Determined at our discretion.