If you compare the price of a crypto on Young Platform Pro with that of another platform, you might notice a difference. It is not an error: it depends on where your order is executed.
Where the price comes from: external execution venues
On Young Platform Pro, Young Platform does not set the price and is not your counterparty: it acts as an intermediary and routes your order to an external execution venue, that is, a trading platform, market maker or liquidity provider authorised under MiCAR or subject to an equivalent regime. The contract is concluded between you and that venue, and the price is the one at which the order is executed there.
The venue is chosen by the Smart Order Router, an automatic system that compares the venues connected to Young Platform and sends the order where you obtain the best overall result: price, costs, speed and likelihood of execution. The rules it follows are written in the Execution Policy: before trading on Pro you accept it and give your express consent for orders to be executed even outside an authorised trading platform, without which the order is not executed.
Why the price can be different from that of other platforms
- Each execution venue has its own prices, which depend on the buy and sell orders present on that venue at that moment.
- The Smart Order Router chooses among the venues connected to Young Platform: the platform you are looking at for comparison might not be among them.
- The price changes constantly: between the moment you look at it and the moment the order is executed, it may have already moved.
- Purely informational sites often show an average of prices from multiple platforms, or the price of just one: they are not a reference for the price at which your order will be executed.
The price you see before confirming
The price you see before sending the order is only indicative: it is not a price guaranteed by Young Platform. On Pro the order is a Limit "Fill or Kill" order: it is executed only if your price, or a better one, is available on the external venues for the entire quantity; otherwise it is cancelled and the blocked funds are immediately unblocked. You can find all the steps in the guide How an order works on Young Platform Pro.
On Pro, Young Platform does not add any spread to the venue price: it applies an explicit brokerage fee, which you see in the summary before confirming along with the total cost of the operation. To this, the costs of the execution venue may be added and, if you choose delivery to an external address, network fees.
Please note: this explanation applies to Young Platform Pro
On Young Platform Base the mechanism is different: Young Platform is your counterparty and the price comes from its Pricing Engine, with a fixed price guaranteed for a few seconds. You can find this explained in the guide Why are prices different from other platforms? (Base).