Queue position does not exist for retail forex orders
Posted: Sat Oct 31, 2026 8:18 pm
In exchange-traded markets, the order of arrival at a price level matters. Earlier orders get filled first, and traders compete for queue position. Retail forex doesn't work that way.
A broker's limit order is a request to the broker, not an entry in a public book. When price touches the level, the broker decides how to fill it, using its own liquidity. There's no visible queue and no guarantee that a touch means a fill.
The practical effect is that fills depend on the broker's logic. Some fill on touch. Others require price to trade through. Some fill partially. Backtests that assume fills at the touch are therefore optimistic.
Strategies designed around queue priority, such as market making ideas imported from futures, have no direct equivalent in retail spot forex.
Understanding the difference helps avoid copying approaches that depend on structures that don't exist here.
Testing limit order behaviour live, with small size, shows how the broker handles touches.
How does your broker handle limit orders when price just touches the level?
A broker's limit order is a request to the broker, not an entry in a public book. When price touches the level, the broker decides how to fill it, using its own liquidity. There's no visible queue and no guarantee that a touch means a fill.
The practical effect is that fills depend on the broker's logic. Some fill on touch. Others require price to trade through. Some fill partially. Backtests that assume fills at the touch are therefore optimistic.
Strategies designed around queue priority, such as market making ideas imported from futures, have no direct equivalent in retail spot forex.
Understanding the difference helps avoid copying approaches that depend on structures that don't exist here.
Testing limit order behaviour live, with small size, shows how the broker handles touches.
How does your broker handle limit orders when price just touches the level?