Execution

Execution
Modes.

How an order reaches the market matters as much as the order itself when a trading mobile app is carrying your forex and exchange operations.

Four order execution modes are available to meet various trading objectives: Instant, Request, Market and Exchange execution.

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Inside Trade Master 9.

Four order execution modes are available to meet various trading objectives: Instant, Request, Market and Exchange execution.

TM9 chart view with custom alerts on EUR/USD
TM9 real-time quotes and close-position screen
Trading System

Execution Modes.

Four execution modes — Instant, Request, Market and Exchange — for different trading objectives.

The four modes

  • Instant execution at the quoted price.
  • Request execution against a quote you confirm.
  • Market execution at the available price.
  • Exchange execution through the venue.

Matched to objectives

The modes exist because different trading objectives need different guarantees — price certainty in one case, fill certainty in another.

Part of a wider system

Execution modes work alongside Market Depth, the separate accounting of orders and trades, and support for both netting and hedging.

In depth

The Detail Behind It.

Three short notes on how this works day to day.

In practice

In fast markets the mode decides what happens when your price is gone: instant execution may reject or requote, market execution fills at what is available. Neither is better in the abstract; they suit different strategies.

Worth knowing

Execution mode is set per instrument by your broker rather than chosen in the app, so it is worth asking which mode applies to the instruments you trade most before judging a fill.

Who it is for

This page is for traders investigating fills and requotes, and for brokers explaining to clients why the same order behaves differently on different symbols.

Context

Where This Fits.

How trading system sits inside the Trade Master 9 platform.

The trading system in full

The platform delivers Market Depth and separate accounting of orders and trades, supporting both the traditional netting system and the hedging option system. Four execution modes — Instant, Request, Market and Exchange — cover different trading objectives, and every order type is available: 2 market order types, 6 pending order types, 2 stop orders and trailing stop.

Good to know

TM9 is a software development company and does not provide investment or brokerage services. The platform supplies the trading terminals, analysis tools and automation; your broker holds the funds, sets spreads and leverage, and executes the orders the platform sends. Trading carries a real risk of loss, and signals or robots are tools rather than financial advice.