for those that saw my thread, probably knows the whole story, I had an instance where I had an entry order on EURUSD to sell @ 1.5852, but instead was filled at 1.5816, in my opinion, the order should either be filled or not filled (like how it is in the stock market?), if the market was truly moving fast, then the order should be missed, to add insult, it was closed at my TP of 1.5840 at a loss, hard to imagine this kind of "slip" as I DID NOT request a "Market Order", nor was it a "Stop Loss" where I need to get out at any price, things like this had happened too many times with the same broker, so in my opinion, this is robbery, my opinion could be wrong, but I want the proper authority to judge on this, where do I seek help? Thanks for any help in advance...
- Joined May 2005 | Status: Member | 1,494 Posts
In trading, there is no bullshit. You either make money or you don't.
hi white_tiger, yeah when signing up the account, they mentioned about slippage, and i remember clearly they said slippage will also apply in "my favour" and I remember I laughed right out then "yeah right!"
but come on, as i said, they slip my stop loss, alright, they can slip my limit order, OK! But come on, they're slipping my entry order too! AND closing with with a loss right away with NO slippage.. haha...
mrgreen: I've complaint with my broker already, no use, they rang me back, are their attitute very offensive and abbusive and insulting, haha...
Firstly limit orders can never get slipped against you, not even a fraction of a pip. So had you used limit order or stop limit order instead of stop entry order, your order would not have slipped. Of course there is a good chance that market could have gone right through it without filling your order.
As I understand from your posts you used a sell stop entry order, well before the news event. But still your order was essentially a type of market order to be executed when price reached a certain level. It does not matter at what time you entered the pending order in the platform. And market orders get slipped all the time especially during a volatile market as it was on Thursday.
- | Membership Revoked | Joined Mar 2005 | 4,703 Posts
hi white_tiger, yeah when signing up the account, they mentioned about slippage, and i remember clearly they said slippage will also apply in "my favour" and I remember I laughed right out then "yeah right!"
but come on, as i said, they slip my stop loss, alright, they can slip my limit order, OK! But come on, they're slipping my entry order too! AND closing with with a loss right away with NO slippage.. haha...
mrgreen: I've complaint with my broker already, no use, they rang me back, are their attitute very offensive and abbusive and insulting, haha...
If I Go Broke Trying Then I Will die happy.
- | Joined Aug 2006 | Status: Member | 85 Posts
but come on, as i said, they slip my stop loss, alright, they can slip my limit order, OK! But come on, they're slipping my entry order too! AND closing with with a loss right away with NO slippage.. haha...
if u buy now, then your stoploss is stop sell and vice versa
anyway i think file a complaint is just a wasting time, better search a broker that u think better
anyway I'm not too worried right now, I've made the move to trade on a longer time frame anyway, less noise, less volatility, less chance for broker to rob me, less money chances for me, but minus the robbing of the broker, the money should end up being almost the same, but without the stress and anger.. 
- | Joined Jul 2008 | Status: Member | 356 Posts
anyway I'm not too worried right now, I've made the move to trade on a longer time frame anyway, less noise, less volatility, less chance for broker to rob me, less money chances for me, but minus the robbing of the broker, the money should end up being almost the same, but without the stress and anger..
There is more money in swing anyway.
my calculations if trading short term, will actually bring in more cash, but add in the random mistake you make trading short term, and the broker "BS" that you get, it's not worth your time and stress, if anyone still trading short term, I highly recommend making the move, you'll live longer.. haha..
- | Joined May 2008 | Status: Member | 762 Posts
Of course you get the impression. That's because people don't know how to trade and blame it on the broker. Would you write a review if you're doing OK with your broker? Guess not. Let's complain!