I just confirmed this with Interbank FX themselves as I wondered whether 99.9% execution rate relates to ALL deals sent by clients or just to those accepted and then later on rejected by liquidity providers. The number is apparently for ALL requests. You can see that yourself by going to their performance page (link below) and hovering over the question mark next to Execution Rates. Well done IBFX.
Interbank FX LLC, one of the industry’s leading global providers of online forex trading, continues to provide customers with transparency metrics in 2011, further signifying a commitment to providing the best trading experience for customers and partners. Execution success data is rarely made public in the forex industry, yet IBFX’s performance statistics for January 2011 unveil that execution rates have averaged 99.9%—with an overall rejection rate of 0.1%.
“IBFX is an open book via our performance page,” said Todd Crosland, chairman and president of Interbank FX. “We feel confident that our technology surpasses our competition, which is why we open up the hood of our engine. With IBFX, weekly rejection rates are displayed frequently so traders can objectively analyze the rejection rates and determine their best outcome.”
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Interbank FX’s Transparency Metrics—January 2011
- Number of January Tickets: 7,135,859
- Overall Rejection Rate: 0.1%
- 5-50 Lot Rejection Rate: 0.3%
- Average Execution Time: 7.16 milliseconds
*Date range of data comprised from 1/1/11 through 1/31/11.
“Our performance page demonstrates the agility and speed of our Core infrastructure—technology in which we’ve invested millions of dollars in to deliver a streamlined trading experience,” said Crosland. “Our customer’s deserve to know how their trade is executed, which is why we provide information on all major pairs over any period of time—allowing customers to always be aware of a trade’s execution rate, trade speed and the average spread (price) for each currency pair.”