Today I had a limit order to buy GbpJpy at 130.87. It had a 2 pip bound set on it, which normally is fine when there is no news coming out. The order was cancelled due to Bound Violation.
I've been using them for years and I'm happy with them. I've been nailed a few times by widening spreads, but that's part of the game and I just suck it up. This, however, is simply not filling an order. This is not acceptable. The order was cancelled at 13:05:25, it was a screw job if I've ever seen one.
Here's the transcript.
OANDA: Thank you for choosing OANDA. How may I help you?
Bob: HI, I just had a limit order on the GbpJpy cancelled. Why?
OANDA: Is it because it has exceed the expiry?
Bob: I have the default time set for 18 hours
Bob: it was set for 5 minutes
OANDA: What is the ticket number?
Bob: 1 min
Bob: 63332xxxx
Bob: What does BV mean?
OANDA: Please hold on
Bob: ok
Bob: getting water, brb
Bob: are you still there?
OANDA: Konstantin (CSR) PM 05:24 A Bounds Violation occurs when the price an order is to be filled at falls outside the range specified by its bounds. When you enter an order you may specify a range using the Upper and Lower Bounds feature in the order window. If the range requested is exceeded the trade will be canceled due to a Bounds Violation.
OANDA: A Bounds Violation occurs when the price an order is to be filled at falls outside the range specified by its bounds. When you enter an order you may specify a range using the Upper and Lower Bounds feature in the order window. If the range requested is exceeded the trade will be canceled due to a Bounds Violation.
Bob: So, it skipped over my price?
OANDA: So your price falls outside the range you have specified.
Bob: I'm looking at the min/max. It looks to me like the price existed
OANDA: The chart shows the average price.
Bob: The spread didn't widen at that moment. It was a good price.
Bob: So?
OANDA: So if the price falls outside the range you have specified. The trade will not go through.
Bob: Yea, but I'm looking at your min/max chart and the price was good, the spread was good, the trade should have been put on
OANDA: The price might be good but if its outside the range. It will not go through.
Bob: one min
OANDA: Sure.
Bob: im getting the spreads by 5 sec intervals
Bob: The trade was cancelled at 13:05. At 1305 spread was 82-87 At 1305:05 it was 84-88 At 1305:10 it was 84-88 At 1305:15 it was 84-88 At 1305:20 it was 85-88 At 1305:25 it was 86-91 At 1305:30 it was 88-94 At 1305:35 it was 88-94 At 1305:40 it was 90-97
Bob: the buy order was at 130.87
Bob: it should have been filled during that 40 second interval
Bob: it's didn't skip over it
OANDA: May I get the technical team to look into it.
OANDA: And we will rever to you within one business day.
Bob: How will you get back to me?
Bob: and what will you do?
Bob: once they see I'm right?
OANDA: We will revert to you via email, after we have investigated.
Bob: Ok
I've been using them for years and I'm happy with them. I've been nailed a few times by widening spreads, but that's part of the game and I just suck it up. This, however, is simply not filling an order. This is not acceptable. The order was cancelled at 13:05:25, it was a screw job if I've ever seen one.
Here's the transcript.
OANDA: Thank you for choosing OANDA. How may I help you?
Bob: HI, I just had a limit order on the GbpJpy cancelled. Why?
OANDA: Is it because it has exceed the expiry?
Bob: I have the default time set for 18 hours
Bob: it was set for 5 minutes
OANDA: What is the ticket number?
Bob: 1 min
Bob: 63332xxxx
Bob: What does BV mean?
OANDA: Please hold on
Bob: ok
Bob: getting water, brb
Bob: are you still there?
OANDA: Konstantin (CSR) PM 05:24 A Bounds Violation occurs when the price an order is to be filled at falls outside the range specified by its bounds. When you enter an order you may specify a range using the Upper and Lower Bounds feature in the order window. If the range requested is exceeded the trade will be canceled due to a Bounds Violation.
OANDA: A Bounds Violation occurs when the price an order is to be filled at falls outside the range specified by its bounds. When you enter an order you may specify a range using the Upper and Lower Bounds feature in the order window. If the range requested is exceeded the trade will be canceled due to a Bounds Violation.
Bob: So, it skipped over my price?
OANDA: So your price falls outside the range you have specified.
Bob: I'm looking at the min/max. It looks to me like the price existed
OANDA: The chart shows the average price.
Bob: The spread didn't widen at that moment. It was a good price.
Bob: So?
OANDA: So if the price falls outside the range you have specified. The trade will not go through.
Bob: Yea, but I'm looking at your min/max chart and the price was good, the spread was good, the trade should have been put on
OANDA: The price might be good but if its outside the range. It will not go through.
Bob: one min
OANDA: Sure.
Bob: im getting the spreads by 5 sec intervals
Bob: The trade was cancelled at 13:05. At 1305 spread was 82-87 At 1305:05 it was 84-88 At 1305:10 it was 84-88 At 1305:15 it was 84-88 At 1305:20 it was 85-88 At 1305:25 it was 86-91 At 1305:30 it was 88-94 At 1305:35 it was 88-94 At 1305:40 it was 90-97
Bob: the buy order was at 130.87
Bob: it should have been filled during that 40 second interval
Bob: it's didn't skip over it
OANDA: May I get the technical team to look into it.
OANDA: And we will rever to you within one business day.
Bob: How will you get back to me?
Bob: and what will you do?
Bob: once they see I'm right?
OANDA: We will revert to you via email, after we have investigated.
Bob: Ok