Liquidity & Slippage

What is Liquidity?

OREX Platform

All rates offered by ADSS Hong Kong on the OREX Platform are based on current rates and are displayed in real-time. ADSS Hong Kong receives bid and ask prices from ADS Securities LLC, the parent company of ADSS Hong Kong, which is the sole liquidity provider of the OREX Platform. 

The rates and the order execution price provided to you on the OREX Platform include a mark-up over the liquidity provider’s rates. ADSS Hong Kong adopts pre-hedging practices. Once you place an order on the OREX Platform, ADSS Hong Kong immediately hedges an order which is identical to your order, directly with ADSS. Your order will be executed only when ADSS Hong Kong completes its hedging with ADSS. ADSS Hong Kong does not act as a market maker in any currency pairs. There are inherent limitations to liquidity that can affect the final execution of your order. For more details about the ADSS Hong Kong Order Execution Policy, please visit Order Execution Policy.

Order Execution Policy

TREX Platform

If you use your TREX account to trade leveraged forex exchange, your liquidity and order execution are provided by Interactive Brokers LLC (SFC CE# AEX264) and Interactive Brokers Hong Kong Limited (SFC CE# ADI249).

What is Slippage?

The difference between the price at which your order is executed and the price offered at the time your order is submitted is known as slippage. Slippage can be caused by a range of conditions, including but not limited to, fast market movements, thin or illiquid markets, market news, world events, catastrophic events, the economic environment or other market conditions. Depending on the direction the market has moved, slippage may occur, in such instances. Slippage may be favourable or unfavourable to you and may be near to or several pips away from the price displayed on the system at the time your order was submitted through the system or quoted to you by the dealer. You might accept or reject slippage on the OREX Platform. If you accept slippage, ADSS Hong Kong does not retain any favourable or unfavourable slippage; all slippages are passed on to you. You cannot limit or reject slippage on the TREX Platform. Both favourable slippage and unfavourable slippage are all passed on to you.

Favourable Slippage

ADSS Hong Kong executed an order with the external liquidity provider at the price that was better than the price when you placed the trade order. Favourable slippage is the difference between the better price and the original required price.

Unfavourable Slippage

ADSS Hong Kong executed an order with the liquidity provider at the price that was worse than the price when you placed the trade order. Unfavourable slippage is the difference between the worse price and the original required price.

Learn How to Accept and Reject Slippage on an OREX

Available on OREX Desktop Version only, not available on OREX Mobile Platform