Example
Brokers with Public Execution Metrics
This page categorizes the types of public execution transparency offered by brokers. Rather than naming specific companies (which would require ongoing verification), we describe the categories and what to look for in each.
Full Dashboard
Broker with Full Public Dashboard
Publishes a real-time or regularly updated execution quality dashboard with multiple metrics.
Typical Metrics Published
- Average execution speed
- Slippage distribution (positive vs negative)
- Fill ratio / rejection rate
- Price improvement statistics
- Spread data (average and typical)
Full dashboards are the gold standard. They allow independent verification and time-series comparison. As of 2026, only a small number of retail brokers offer this level of transparency.
Partial Disclosure
Broker with Partial Disclosure
Publishes some execution metrics, typically average execution speed and spread data, but not a complete dashboard.
Typical Metrics Published
- Average execution speed
- Typical spreads per instrument
- Occasionally: monthly execution reports
Partial disclosure is better than none, but leaves important gaps. Without slippage distribution or rejection rate data, the picture is incomplete. Ask these brokers for the missing metrics directly.
Policy Only
Broker with Policy-Only Transparency
Publishes a detailed execution policy and order handling description, but no quantitative metrics.
Typical Metrics Published
- Order execution policy document
- Best execution policy
- LP category disclosure (Tier-1 banks, etc.)
Policy documents are a legal requirement in many jurisdictions (MiFID II, etc.), so their presence alone is not a strong signal. The quality and specificity of the policy matters more than its existence.
What to Look For
Multi-dimensional metrics (not just speed or spreads alone)
Historical data availability (at least 3-6 months)
Both favorable and unfavorable metrics included
Slippage distribution showing positive and negative
Regular update cadence (monthly or more frequent)
Independent audit or third-party verification
Red Flags
Only favorable metrics published (cherry-picking)
No historical data (single snapshot in time)
Vague methodology ("ultra-fast execution" with no numbers)
Metrics are images, not live data (easier to fabricate)
No update date or freshness indicator
This page is for educational purposes. Broker categories are illustrative. Always conduct your own due diligence before opening a trading account.