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1- I don't recommend any one System over another. Sorry about not explaining a Market Order.
In the Electronic System there are ONLY Limit Orders i.e. a Match between Buyer and Seller, whereas in the Pit, combined orders ( orders from one or more players - - several brokers ) may " make the match ". There are also some priorities, other than who is in first. Check this out with your Broker.
The Broker / Software Developer has programmed a Synthetic " Market Order ". - - He has to use the Limit, But in making the
" Synthetic Market Order " - - PFG uses " or beter " to = + / - 15 POINTS on the ES depending if Buy or Sell ( it's different for say NQ ) & IB uses 10 POINTS for the ES Not Ticks.
I do not know about LEO / ZAP or others, but most are derivatives of these types of softwares.
In a " Fast Market " one must monitor the time and market move closely - - don't assume because a " Market Order " has been entered, you will be filled ! ! - - and at a reasonable price, according to what your are seeing on your Trading screen, etc..
Additionally one must ascertain if always connected to the server or NOT - - and what kind of Desk support ( back-up ) is available - - The Price of the service, is NOT the factor - - the Service and the Fill are. Each must be weighed by each of you, when you make your selection. Routers are used by some traders for additional Internet Back-Up, etc.
Make sure you have all the facts, then decide which one is Best for You. Hope I haven't boored the pros.
John
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