Slippage
Slippage is the difference between the price named on an order and the price at which that order is filled.
Explanation
MetaTrader 5's help calls deviation the difference between the execution price and the price specified on the order, and it is the amount of that difference the trader agrees to accept in instant execution. The same page says a limit order is filled at the specified price or better, so no slippage occurs, while a triggered stop can be filled at the specified price or worse, which the help calls slippage. A study that fills at the next published reference rate does not observe a broker's slippage. A spread assumption in that study is not a measurement of it.
This page explains published terms for education and reference. It is not financial, investment, tax, or trading advice, and it does not recommend a firm, product, or strategy.
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