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Stop hunted?

  • #1
  • First Post: Jan 29, 2009 2:53pm Jan 29, 2009 2:53pm
Wow it seems IBFX is getting pretty blatent, not even hiding their cheating ways. Or am I mistaken?
There was no news or spread widening by the way, the spread was a steady 3 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: Stophunted.gif Size: 16 KB
  • #2
  • Jan 29, 2009 2:56pm Jan 29, 2009 2:56pm
I've seen the same type of thing happen right in front of my eyes, so you're probably not mistaken.
The breaking of a wave cannot explain the whole sea.
  • #3
  • Jan 30, 2009 4:27am Jan 30, 2009 4:27am
Yes,firms fictitiously move markets, put themselves at potentially millions of dollars of risk to hit your $30 stop....

let me make a suggestion........actually I better not, haven't had my coffee yet.....
  • #4
  • Jan 30, 2009 4:40am Jan 30, 2009 4:40am
Yea, good idea man, you'd better get yourself some coffee, because your reasoning is missing a few considerations... like the possibility that 90% of traders might also have that $30 SL, so that adds up to some serious cash.

I need some coffee too!




Quoting pointorpip
Yes,firms fictitiously move markets, put themselves at potentially millions of dollars of risk to hit your $30 stop....

let me make a suggestion........actually I better not, haven't had my coffee yet.....
  • #5
  • Jan 30, 2009 4:57am Jan 30, 2009 4:57am
Check this thread out.


http://www.forexfactory.com/showthre...=147813&page=7


By the way, are you stop hunting? if you are not, you should be.


Best regards

Dale
  • #6
  • Jan 30, 2009 2:35pm Jan 30, 2009 2:35pm
Quoting dbeach777
Yea, good idea man, you'd better get yourself some coffee, because your reasoning is missing a few considerations... like the possibility that 90% of traders might also have that $30 SL, so that adds up to some serious cash.

I need some coffee too!

Wow......just wow....education my friend, not worth the time to even try to convince you....
  • #7
  • Jan 30, 2009 7:15pm Jan 30, 2009 7:15pm
Quoting pointorpip
Yes,firms fictitiously move markets, put themselves at potentially millions of dollars of risk to hit your $30 stop....

let me make a suggestion........actually I better not, haven't had my coffee yet.....
Let me guess-u r not or ever have been a IBFX customer?If u were,coffee wouldn't be strong enough.
FF = Forex Faggots
  • #8
  • Feb 2, 2009 10:34am Feb 2, 2009 10:34am
People like IBFX don't put "retail" trades out on the open market. When you place a "million dollar" trade with IBFX do you seriously think that actually goes onto the real OTC FX market? They just need to take the aggregate of all their retail customers' trades and hedge against that. They can easily manipulate their price without taking any risk at all. If you look at the Bloomberg terminal price for EURUSD, for instance, and compare it to a retail broker you'll notice that the spread is always wider and lags the true price. I'm not trying to cause offence but I cannot stand people in the financial services industry who set up bucket-shop businesses. I admire people on the retail side wanting to invest off their own back, it's a shame there are an equal number of people willing to take advantage.
  • #9
  • Feb 2, 2009 10:56am Feb 2, 2009 10:56am
Quoting pointorpip
Wow......just wow....education my friend, not worth the time to even try to convince you....
There's no education like first hand experience.

With all due respect, what happens at IBFX and what happens in the true interbank market
are two different worlds. Same can and should be said for many market makers out there.
This is especially true of those firms who proudly disclaim, "...We don't have a dealing desk..."
This is about the same thing as a company going out of their way, without being asked to say,
"...We are not theives...we are not dishonest...we don't stick it to ya...."

If someone opens remarks with, "...Let me tell you the truth...."
Isn't it the first reaction to immediately begin to question that "truth" ?

IBFX is no different than many market makers who MAKE prices. That's right. They make them.
Look at your signed account agreements. Just about anything that happens that you don't like
was agreed to before you ever placed your first trade on their platform.

Not saying it's a good way to do business, but it's all that matters in the legal end of the story.
Try taking "...they hunted my stop..." to arbitration. Good luck.
Try taking it to court. It is an uphill battle. Uphill both ways.

Best advise is to be aware that when you least expect the worst from your broker, it can and may happen.
Otherwise, your mileage may vary and hopefully you'll avoid the ugly side, but it can happen.
  • #10
  • Feb 2, 2009 11:00am Feb 2, 2009 11:00am
Quoting 8fingers
Let me guess-u r not or ever have been a IBFX customer?If u were,coffee wouldn't be strong enough.

BTW: if your drinking coffee (my favorite drink, 2nd only to scotch)
and trading with IBFX, they already have it out for you.

As IBFX is located in Salt Lake City, the Mormons have put your account on manual for drinking coffee.
You're screwed either way.

Please no flames from Mormons. I'm not your enemy. I love you too. Leave my coffee alone, though.
  • #11
  • Feb 3, 2009 1:42am Feb 3, 2009 1:42am
Quoting Trk
Wow it seems IBFX is getting pretty blatent, not even hiding their cheating ways. Or am I mistaken?
There was no news or spread widening by the way, the spread was a steady 3 pips.
trk,

that happened to me once too with fxdd. i called them up and they reversed the trade.

what was ibfx reaction???

did they refund you ??
  • #12
  • Feb 3, 2009 4:55am Feb 3, 2009 4:55am
Quoting olymbios
People like IBFX don't put "retail" trades out on the open market. When you place a "million dollar" trade with IBFX do you seriously think that actually goes onto the real OTC FX market? They just need to take the aggregate of all their retail customers' trades and hedge against that. They can easily manipulate their price without taking any risk at all. If you look at the Bloomberg terminal price for EURUSD, for instance, and compare it to a retail broker you'll notice that the spread is always wider and lags the true price. I'm not trying...
Please tell me that you dont think that the Bloomberg temnal is the price?
  • #13
  • Feb 10, 2009 8:58am Feb 10, 2009 8:58am
Quoting pointorpip
Please tell me that you dont think that the Bloomberg temnal is the price?
Shouldn't have to tell you this if you've ever actually used it. I'm talking about bloomberg professional, not bloomberg.com. The terminal shows you the interbank price and you can click on each pair to see the prices given by all the major market makers for that pair. Those will pretty much be the same for the liquid pairs to prevent arbitraging. I'm not really sure what argument you are making? Are you saying that the FX desk at, say UBS, will quote you a different price from the bloomberg terminal?

I find people who make comments like your's with no follow through are individual "investors" (to use the term loosely) who think they can pick up this game in a couple of minutes.
  • #14
  • Feb 10, 2009 10:15am Feb 10, 2009 10:15am
I have been trading with IBFX for two years, but in the last 2 months I was wondering why my indicators and "system" became -very- unreliable. I just made a screen shot showing IBFX and another real time data feed. I happened to be trading the GBP at that precise moment. The price was acting so bizarre, I had to look at two other real time quotes. Result of my screen shot? The other currencies looked fine - but the IBFX GBP quote was a 50 PIP Difference! My god. How do I put up a screen shot on this board so everyone can see this. AND - which regulatory organization can I send this screen shot to for some justice?
  • #15
  • Feb 10, 2009 10:27am Feb 10, 2009 10:27am
Quoting PipVip
I have been trading with IBFX for two years, but in the last 2 months I was wondering why my indicators and "system" became -very- unreliable....
Right click on your chart and select 'Save As Picture', select 'Active Chart' then save to your desktop. When you post in here, scroll down below the message box to the thread options and click on 'manage attachments' then Upload File From Computer, go to Browse, select the file from your desktop, upload it, and then post it - if you have done it right then we should see a chart.
  • #16
  • Feb 10, 2009 3:31pm Feb 10, 2009 3:31pm
Guys, I really don't want to believe IBFX could be doing this to me.
I want to believe there is a logical reason why I have lost over $9000 this month due to my incompetence and not due to criminality.

Somebody please point out my error.
Attached Image (click to enlarge)
Click to Enlarge Name: IBFX GBP 50 pip difference.GIF Size: 98 KB
  • #17
  • Feb 10, 2009 4:11pm Feb 10, 2009 4:11pm
I'm not sure about the reliability of the forex-markets.com feed. The time on your FXDD Market Watch window is 15:48:40 whereas the Forex-markets.com has the last quote on GU at 15:44. This is not to say that you don't have a legitimate case, but what would be definitive would be screenshots of your FXDD chart side by side with a chart from a different source. Open up a demo with another MT4 broker if possible. Alpari http://www.alpari.co.uk/en/metatrade...o-account.html or WHC http://www.metaquotes.net/files/whc/whc4setup.exe I look at several data sources, and some times one is quicker than another, sometimes they get slightly out of sync by 5-10 pips but never 30 or 50 unless the spreads are being widened. If the charts and past data are pretty much the same shape then you don't really have a case, but if the price action is not only 'irregular' but also different to other brokers, then you might be able to do something about it. Before you do make the call, get all your facts straight and gather all the evidence. If you need people to send you screenshots from different brokers to provide evidence of 'bad' data then the more the better.
  • #18
  • Feb 16, 2009 4:36am Feb 16, 2009 4:36am
Quoting olymbios
Shouldn't have to tell you this if you've ever actually used it. I'm talking about bloomberg professional, not bloomberg.com. The terminal shows you the interbank price and you can click on each pair to see the prices given by all the major market makers for that pair. Those will pretty much be the same for the liquid pairs to prevent arbitraging. I'm not really sure what argument you are making? Are you saying that the FX desk at, say UBS, will quote you a different price from the bloomberg terminal?

I find people who make comments like your's...
You can think what you want, believe what you want, my trading is my business, and your "cattyness" behind a keyboard shows your maturity.

Even the Interbank price can be different than what any broker shows, and price only matters to the trade that your in. Hence the idea of a non-central exchange traded market. If your looking for a difference in a price (not saying that you are) then your a rookie, and havent learned that the price doesnt matter, just the trade that you are in, and what price points you determined your entry and exit at.
  • #19
  • Last Post: Mar 19, 2009 2:31pm Mar 19, 2009 2:31pm
Yip I tried to question them about it but the live chat agent got pretty hostile when I mentioned stop hunting...wasn't interested in receiving the screen shot from me either, just kept denying.

Shakespeare came to mind, how does it go again? :" Methinks the lady doth protest too much"

So I left it and now trade elsewhere, with an ECN, bit more expensive but haven't had that problem again.
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