FAQ

VWAP stands for Volume Weighted Average Price. It’s the average price your order is executed at, based on the size and price of each trade during execution.

When you place a large market order, it may be filled at different prices depending on current market liquidity. VWAP reflects the weighted average execution price across all fills for the order.

Execution speed and slippage can vary in volatile market conditions.

Example:

If you buy 6 million EURUSD at market price, your order may get filled as follows:

• 1.5 million at 1.20205

• 2 million at 1.20206

• 2.5 million at 1.20207

VWAP will be calculated using the following formula:

VWAP = (1,500,000 ÷ 6,000,000) x 1.20205 + (2,000,000 ÷ 6,000,000) x 1.20206 + (2,500,000 ÷ 6,000,000) x 1.20207 = 1.202062

This is useful for understanding your true cost of entry, especially in fast-moving or thin markets.