Order execution
Version of 3 November 2026
Ifrik receives your orders and routes them to a licensed member of each exchange (broker-dealer or dealing member), which executes them. This policy describes how we seek the best possible result for you.
Factors
For a retail client, the best result is assessed first on total cost: execution price and all fees. Speed, likelihood of execution and settlement, size and nature of the order also count.
Choice of intermediaries
Each exchange is only opened on Ifrik with a licensed member selected for execution quality, soundness and pricing. Their execution quality is monitored regularly and reviewed at least once a year.
Order types
- Market: executed at the best available price. To protect you on illiquid markets, a protective limit price applies and the order is not executed beyond it.
- Limit: executed only at your price or better.
- Stop loss, take profit and trailing stop: turned into a market order when the threshold is reached on official prices.
Execution depends on liquidity: an order may be filled in several parts, partially, or not at all. Orders received outside trading hours are routed at the next opening.
Aggregation
Ifrik may aggregate several clients' orders in the same security where this disadvantages none of them. Executions are then allocated pro rata at the same average price.
Currency
When an order is paid in a currency other than the exchange currency, the applied rate, margin included, is shown before you confirm.
Specific instructions and evidence
A specific instruction from you (price, validity) prevails over this policy for the aspects it covers. Each execution produces a contract note. On request, we demonstrate that your order was executed in line with this policy.