Order Routing Without Dealer: Fair Pricing & High Fill Probability
We route orders to external liquidity providers (A-book) at the best available prices. Composite Liquidity and smart SOR ensure tight spreads, fast response, and volatility resilience — without conflicts of interest.
Regulated brokerage company. Risk disclosure — before starting trading, carefully read the document.
Best Execution Principles (NDD/A-book)
We do not act as counterparty to your trades. Client orders are routed to external LP/ECN.
No Conflicts of Interest
We don't take the opposite side of your trades. Orders are routed to external LP/ECN (A-book).
Best Execution Factors
Price and total cost, probability and speed of execution/settlement, depth and size, stream stability, order nature.
Full Transparency
We log execution stages, provide aggregated TCA reporting and analyze cases upon request.
Liquidity Types and Sources
Choose between aggregated depth or single-source predictability
Quotes from multiple LP/ECN → normalization/cleaning → BBO and order book depth → SOR selects route, split/sweep across levels when needed.
Stream from one provider without aggregation; predictability of single source, but less combined depth.
Routing Methods
Overview of methods and when each is applied
Smart Split
Simultaneous execution of order parts at multiple LPs for better VWAP and higher fill ratio.
When: Large orders, multiple LP availabilityBest Bid/Offer Sweep
Step-by-step execution across book levels when insufficient volume at best level.
When: Insufficient L1 volumeLast Look-Aware
Routing considering rejection probability and hold time, prioritizing firm streams.
When: Mixed firm/last look environmentLatency-Optimized
At equal price, choose source with minimum latency (colocation, distance to LP).
When: Speed-critical strategiesMarkout-Optimized
Preference for sources with better post-trade results on 100-500ms horizons.
When: Quality-focused executionFailover Routing
Automatic switching to backup routes on timeout/error without operator intervention.
When: System resilience requiredHow Our SOR Works
Transparent principles of decision making
Decision Factors
Order Lifecycle Timeline
Steps and typical latencies
Order Creation
0-2 msIn terminal/via API
Gateway Entry
1-3 msValidations, mode selection
Routing
2-5 msScoring, split/sweep if needed
LP/ECN Response
1-8 msConfirmation/partial fill/rejection
Client Confirmation
<1 msJournal fixation, metrics update
Note: Times are indicative and depend on market/LP/infrastructure
Order Processing & TIF
How we handle different order types and time-in-force instructions
Market Orders
Execution at best available price; sweep/split when volume insufficient.
- • Immediate execution
- • High fill probability
- • No price risk
- • Price uncertainty
- • Potential slippage
- • Market impact
Last Look, Slippage & Timeouts
Our policies and handling mechanisms
Some LPs use last look; we account for rejection probability and hold time delay in scoring and prioritize stable sources.
Instant switch to alternative route
Symmetric handling; positive slippage 100% to client; negative limited by max slippage parameters per instrument.
Hard limits on response; on timeout — retry/backup route; incidents logged and included in reports.
Automatic backup routing
Execution Quality Metrics
Aggregated benchmarks (indicative)
Note: Metrics are indicative; actual results depend on market and counterparties
Why This Benefits Traders and Brokers
Extended analysis of advantages
Fair Pricing & No Conflicts
A-book without dealer interventions; 100% positive slippage to client.
Competitive Spreads & High Fill Probability
Composite gives combined depth and tight quotes; Direct provides specific stream predictability.
Low Latency & Stability
Colocation, dedicated channels, Active-Active; auto-failover on degradation.
Execution Risk Management
Volume/frequency limits, spike cutoffs, SOR considers markouts and last look.
Transparency & Control
Full cycle logging, TCA reports, trade analysis on request.
Strategy Flexibility
FIX API for algo/HFT, MT5 for retail/prop, cTrader (coming) for DOM trading; VWAP/TWAP slicing on request for large orders.
FAQ — Order Routing
Common questions about our routing system
Ready to Experience Transparent Routing?
Join traders who value fair execution, competitive pricing, and complete transparency in order routing.
Risk Warning: CFDs are complex instruments and carry high risk of rapid money loss due to leverage. Ensure you understand the risks and execution features.
No Guarantees: Metrics and examples are for reference and do not constitute promises of results. Actual conditions depend on market and counterparties.
LP Availability: Access to liquidity providers may differ depending on jurisdiction and client status.