Get a different broker. You should be able to place a pending or limit order with no pip distance requirement.
Furthermore, your chart shows a spread of 15 pips on your NZD/USD. This should be 4 pips at the most and 3 average.
There are many that are much more competitive than the one you are currently using. Shop around.
thanks for your reply. the indicator i used to display the spread is set for a 4-digit pip spread, the ECN account which i have right now is using 5-digit pips hence, the display reads 15 pips which actually means 1.5 pips..
but regarding the pips distance limit orders, yes you are actually right that they should allow placing limit orders without any distance requirements that is why i made a consensus because i feel it ain't right. why do you think they place such requirement on limit orders? any thoughts on this? i see you are a seasoned trader and any feedback from you will be valuable...
i have a second account with this broker which is not ECN and i had so far no problems with it after 9 months. the reason why i tried their ECN is because of low spread and better execution, which is so far holding out to be true..
why do you think they need 100 pips distance on limit orders?
would you go for an ECN account as well?
can you recommend a good ECN broker?
thanks a lot dginc... looking forward to your reply...
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez