THOR Trading Platform

Page Summary

The Tactical Hybrid Order Router is an electronic trading platform that delays large orders on purpose so that scalpers cannot take advantage of it. Allen Zhang and Brad Katsuyama created the platform whilst working at the Royal Bank of Canada. 

Most of the time a large order cannot be fulfilled by a single stock exchange. It has to go through different stock exchanges. Scalpers would notice this and buy the stocks on other exchanges using high-frequency trading (HFT). This way they can sell the stocks with profit as soon as the order comes through in its entirety. The THOR trading platform splits large orders into multiple sub-orders and delays these on purpose to make sure they all arrive at the same time at all the exchanges. This prevents scalpers from using HFT trading to profit from the order.


eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money

This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.


Please enter your comment!
Please enter your name here

This site is registered on as a development site.