What happens in 50 milliseconds
End-to-end decomposition of the execution pipeline, from the moment you click"Buy" to the fill confirmation appearing in your terminal. Each stage contributes to total round-trip latency.
1. Client Processing
The MT5 terminal validates the order parameters, prepares the request packet, and hands it off to the network stack. Includes local UI rendering and order validation.
2. Network Transit (Outbound)
The order request travels from the trader's machine (or VPS) to the broker's MT5 server. Distance and routing quality are the dominant factors.
3. Broker Server Processing
The broker's MT5 server receives the order, performs risk checks, applies any execution plugins (margin check, exposure limit), and prepares to route to liquidity.
4. LP Routing
The order is routed from the broker's server to one or more liquidity providers via bridge or aggregator. Includes price matching and LP selection logic.
5. LP Processing
The liquidity provider receives the order, checks it against their own risk parameters, and either fills, rejects, or applies last-look. This is often the largest variable component.
6. Confirmation Return
The fill confirmation (or rejection) travels back through the chain: LP to bridge, bridge to MT5 server, server to client. Mirrors the outbound network transit.
Total Typical Range: 16ms -- 158ms
The two largest variable components are network transit (dependent on geography) and LP processing (dependent on last-look policy). A trader using a co-located VPS with a broker using no-last-look LPs can achieve sub-20ms RTT. A retail trader on a home connection with a broker using aggressive last-look LPs may see 200ms+.