Order Execution Policy

Swissquote is dedicated in providing the best and most efficient order execution to our clients. This section explains our policies related to trade execution on the Advanced Trader and MetaTrader trading platforms. Each technology offers various types of execution methods, so we recommend all clients read this section carefully and choose the technology. If you have further questions, please contact a Swissquote representative.

Market Orders

Advanced Trader

Spot: This order is filled or rejected at the requested Bid or Ask price for the full amount of the trade.

Market Best: This order is executed at the best available price or rejected if no price is available; the order is
filled for the full amount but can be filled better or worse than the requested price.

MetaTrader

Instant Execution: This order is executed or rejected at the requested Bid or Ask price for the full amount of the trade. For Stock Indices only, the order will be executed at Market Best conditions. This applies to clients on Swissquote MetaTrader servers. If you do not know which server you are on, please consult your Swissquote representative.

Market Execution: This order is executed at the best available price or rejected if no price is available; the order is filled for the full amount but can be filled better or worse than the requested price. This applied to clients on MIG MetaTrader servers. If you do not know which server you are on, please consult your Swissquote representative.

Limit Orders

Advanced Trader and MetaTrader

Buy Limit: This order will be activated when the Ask price touches the buy limit order. The activated order will be executed at the best available price or rejected if no price is available; the order is filled for the full amount but can be filled better or worse than the requested price. Same policy applies for Take Profit orders.

Sell Limit: This order will be activated when the Bid price touches the sell limit order. The activated order will be executed at the best available price or rejected if no price is available; the order is filled for the full amount but can be filled better or worse than the requested price. Same policy applies for Take Profit orders.

Stop Orders

Advanced Trader and MetaTrader

Buy Stop: This order will be activated when the Ask price touches the buy stop order. The activated order will be executed at the best available price or rejected if no price is available; the order is filled for the full amount but can be filled better or worse than the requested price. Same policy applies for Trailing Stop orders.

Sell Stop: This order will be activated when the Bid price touches the sell stop order. The activated order will be executed at the best available price or rejected if no price is available; the order is filled for the full amount but can be filled better or worse than the requested price. Same policy applies for Trailing Stop orders.

Stop Out Policy

Swissquote’s trading platforms are designed to automatically close open positions when you reach the stop out level. As the stop out levels vary depending on the technology you are using, please read carefully before making any transactions on your account. If you are not sure what is your stop out level. Swissquote team members are available to assist if you have any questions.

Advanced Trader

Margin Level Calculation

((Account Balance + Unrealized P&L)/Total Open Positions in USD) x 100 = Margin Level

Example: At 16:00 CET, Trader X has a 10,000 USD balance with an unrealized P&L of +1,000 USD. The open positions include long 300,000 USDCHF and short 200,000 USDCHF. Total open position is 500,000 USDCHF

((10,000 USD + 1,000 USD)/500,000 USD) x 100 = 2.2% Margin Level

Stop Out Level

The table below shows the stop out level based on your Total Open Position in USD. All open position are realized when the Margin Level reaches to the Stop out level

Total Open Position (USD) Stop out level
Week (Sunday 23:00 CET to Friday 20:59 CET) Weekend (Friday 21:00 CET to Sunday 22:59 CET)
$1,000 through $30,000,000 0.50% 1.00%
$30,000,001 through $40,000,000 1.00% 2.00%
$40,000,001 through $50,000,000 1.25% 2.50%
$50,000,001 through $60,000,000 1.50% 3.00%
$60,000,001 through $70,000,000 1.75% 3.50%
$70,000,001 2.25% or greater 4.50% or greater

MetaTrader

Margin Level Calculation

((Account Balance + Unrealized P&L)/Margin requirement on net open position) x 100 = Margin Level

Example: Trader X has a 10,000 USD balance with an unrealized P&L of +1,000 USD. The open positions include long 300,000 USDCHF and short 200,000 USDCHF. Net open position is 100,000 USDCHF

((10,000 USD + 1,000 USD)/1000 USD) x 100 = 1100% Margin Level

Stop Out Level

Largest losing positions are automatically realized when Margin Level < 20%