DislikedI like to investigate some tricks and tips how some people try to full other people. To day I heard a lot about scam brokers. Never in my life I didn't see scam broker website. I'm talking about real scamIgnored
I have been with this broker for a couple of months but it doesn't look good...
First time I was upset was when the price of a currency pair was spiked by about 20 pips, enough to trigger my Stop Loss, then the price went back to normal.
Today, I had placed a pending order "Sell Stop", to sell a currency pair if it reached 1.1067 from its current price of 1.1080. The price dropped from 1.1080, past 1.1067 but my Sell Stop order was opened at a price of 1.0990(!), and when the price jumped up to 1.1030 my Sell order was closed by a margin call with a 250 Euro loss!
Is there a name for this? Is this called slippage or is this a genuine scam? When I place a pending order, I think most people would like their order opened at the specified price! Not at ANY price the system "managed" to get...
I have tried chatting to their support but they asked me to Send them an email, which I now have done. I will be reporting them to their governing body CySEC, come Monday
I also tried withdrawing money from them last month but they seem to take their time when it comes to withdrawals. I eventually canceled the Withdrawal Request as I had changed my mind about it but... It was unpleasant to wait a couple of days for a withdrawal....