PRICE IMPROVEMENT
Going the extra mile to get you better prices for your trades
Our focus is getting you the best price for your deal, and our price improvement does just that.
We reach out to multiple brokers and get prices for the trade you’re looking to make. Then we simply choose the quote that costs the least.
So, you get the best quote available, often beating the primary exchange price.
How we make our price improvements
Our Best Execution and Order Management policy sets out how we try and ensure the best possible outcomes for our clients when providing quotes and executing orders.
When you ask for a quote, we go out to our multiple brokers and return you the best one. Price improvement is when this quote is better than the best primary exchange price available at the same time.
This price difference saves you money.
From April to October 2024, we were able to make price improvements on 94% of all trades. For those trades with price improvements, the average price improvement was £18, based on an average trade size of £9,311.
How is it calculated?
Price improvement is calculated by finding the difference between the best price on the primary exchange at the quote time and the execution price (the price the deal is made at).
| Client order | Best primary exchange rate | Execution price | Price improvement |
|---|---|---|---|
| 1 Share | £7.50 | £7.49 | £0.01 |
| 1000 Shares | £7,500 | £7,490 | £10.00 |
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Dealing considerations
Price and costs are the main things we look for in getting you the best deal. But there might be times when we need to consider other factors.
For example, when prices are moving quickly, we want to place your deal as soon as possible. So, speed is important.
The size and investment you’re trading might also impact who we deal with. For example, if you’re buying or selling a large quantity of an investment, or the investment isn’t frequently traded.
On these occasions we might need to focus on certain brokers. These will be the ones most likely to be able to place your deal and settle it. If you give us specific instructions on how you want us to place your trade, we will follow these. But it might impact the price you get.
We treat all our clients the same - as retail clients. This means we don’t treat you as a professional investor and it gives you the best regulatory protection.