Trading glossary · practical definition
What is slippage?
The difference between the expected execution price and the actual average fill price.
Slippage in plain English
The difference between the expected execution price and the actual average fill price.
It grows with order size, volatility and shallow market depth.
Practical example
A $50,000 market order can fill across several levels even if the top quote looks tight.
Common mistake
Estimating cost from headline fees alone.
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