Deviation is a manual setting used in trading platforms to avoid requotes. It allows the system to execute your order within the permissible slippage parameter set.
Requotes occur in instant execution and are applicable to Pro accounts only. This means that deviation can only be used when placing market orders on instruments using instant execution.
Note:
- Requotes will still occur if the price change exceeds the set deviation range.
- For pending orders in instant execution, there will not be a requote notification. Orders will be executed at any available market price if the requested price is no longer available.
How does deviation work?
A trader places a sell order for GBPUSD in a Pro account with instant execution. Before placing the trade, a deviation of 3 pips is set up.
One of these two scenarios may happen:
- Upon clicking Sell, prices at 1.39903/1.39916 shift to 1.39915/1.39922. The bid price rose by 1.2 pips to 1.39915 less than the set deviation range. So the order is executed at the new price of 1.39915 without any requotes display. This is called controlled slippage.
- When Sell is clicked on the trading platform, the prices jump from 1.39903/1.39916 to 1.39935/1.39953. The bid price changed by 3.2 pips, more than the set deviation range. So the platform displays a requote with the new set of prices.
Deviation conditions
- Requotes may occur when closing orders, too, so the set deviation will work both ways while opening and closing.
- Deviation will only be applied to orders closed manually by a trader. The deviation will not be applied if an order is closed to stop loss or take profit.
- Requotes will still occur if the price change exceeds the set deviation range.
- For pending orders in instant execution, there will not be a requote notification. Orders will be executed at any available market price if the requested price is no longer available.
How to set up deviation
On MT4/MT5 desktop +
- Double-click on your preferred instrument in the Market Watch section to bring up the trade window.
- Under Deviation, enter your desired deviation range in pips.
On MT4/MT5 mobile +
- Select and hold any instrument in the Quotes tab, and tap Trade.
- For Android devices, tap Quotes > New order.
- Set your desired deviation range in pips under Deviation.
On WebTerminal +
- Double-click on any instrument in Market Watch to bring up the trade window.
- Check the box to Enable maximum deviation from the quoted price.
- Enter your desired range of pips in the box below.
On Exness Trade +
- When opening an order, click on Order Settings.
- Under Deviation, enter your desired deviation range in pips.
- Hit Confirm.
On Exness Terminal +
- When opening an order, toggle Deviation.
- Enter your desired deviation range in pips.
- Click Confirm.
Note: With One-click Trading mode, you will still be able to set up deviation in the order form by toggling Deviation first.