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Performance Standard

Why NoaFX? > Why NoaFX? > Performance Standard

NoaFX always strives to provide the best service to its clients, irrespective of their size or space. We create trading conditions that ensure the best environment for our clients. We ensure that you get the best of executions, and that all your trades get the best fills possible.

To show that our strive for excellence isn't just a play of words, we have decided to back it up with our performance monitored realtime, and being made public.

Performance Audit

In this page, you will see our performance reports.

Our performance in terms of trade execution is measured by:

  • Execution time to fill orders
  • Execution time for trade completion
  • Number of requotes
  • Average spreads dealt

These are the best methods to evaluate any forex broker and not many reveal such data. As these data are likely to reveal the truth about how trades are executed and how they are likely to affect the clients, most brokers do not reveal such information publicly.

Execution Speed

The first is the execution speed. This will give you an idea of how we perform in a fast moving volatile market, illiquid market and in other market conditions. It will give you an idea of how soon a trade is executed, which will in turn ensure that you get the most efficient price you can get. The faster the execution, the better the price. If the execution speed is slow, then it is quite likely that price will change before the order reaches the market and so you either get a price requote or an off quote.

Given below is the average speed of execution, calculated daily for all trades, from the time it is submitted to the time it is executed at the side of the liquidity provider (LP). Once this is done, it basically guarantees that the trade is through and the price is fixed as well. As you can see, the average speed of execution at the LP side is less than 10 ms and we endeavor to keep it this way, whether the trade is of 1 microlot or 10,000 standard lots.

Trend chart showing Execution Speeds, Times, Requotes, and Average Spreads

Below chart is the full trade execution time, which is basically the time taken from the time the trader submits the order to the time when the confirmation appears on screen. This is also calculated as an average on a daily basis, irrespective of lot size, for all our trades. As you can see, this is less than 20 ms which ensures that you get the price that you want.

Trend chart showing trade completion times over weeks

No. of orders Requotes

The next parameter we measure is the number of requotes. If price deviates too far away from the price that was requested, then the trader gets a requote. It also happens when there is a dealing desk in between, with such mechanism built in to make it difficult for the trader to make a profit by refusing a good fill.

As we are a straight through processing (STP) broker with no dealing desk, our execution speeds are among the best in the industry and so you rarely get a requote.

For the period starting from 1st March 2012, we endeavor to keep requotes to the minimum and strive towards a no-requotes policy. What more,we have managed to stick to it so far and will continue to do so in the future.

Average Spread

Finally, the favorite parameter for retail traders. The spread or cost of transaction!

The chart below shows the average spread on each of the major currency pairs, measured on a daily basis. You can also see that it remains constant on a daily basis and there is no spread widening done on purpose to make any unethical profits.

Please be aware of making your trading choices based on exceptionally low spreads too. Extremely low spreads with poor execution speed or constant requites makes for difficult trading conditions as well.

You may have a very low spread but when you cannot get filled or get slipped constantly, it isn't a very effective trading platform either.

Bar chart comparing average spread among currency pairs
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