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.

Repeat dealing window

If you had completed a trade and try to place another trade:

1. on the same instrument
2. in the same direction (i.e. long or short)
3. within a specific time frame^*

the recent trades will be included when determining the size. 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 executed the same way as standard deals, i.e. according to their price tier (which is determined by their size and your recent trade history). A stop order will trigger at first tier price but fill at the price of the applicable tier based on order size and could result in price slippage.

Limit orders

Tiered pricing will not affect the way how limit orders are triggered and orders will be filled based on the tight spreads.

^* Determined at our discretion.