What is this chart spike? | Forex Factory

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What is this chart spike?

  • #1
  • First Post: Edited Sep 16, 2008 12:42am Sep 15, 2008 6:32pm | Edited Sep 16, 2008 12:42am
I just opened up my IBFX charts and saw NZD/USD had spiked over 800 pips...Did any one else see this?

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It's me...
  • #2
  • Sep 15, 2008 6:55pm Sep 15, 2008 6:55pm
relax its bad data
  • #3
  • Sep 15, 2008 7:08pm Sep 15, 2008 7:08pm
Client Services 30: Hello this is Ben J. How can I help?
ME: What is with the spike on NZD/USD?
Client Services 30: we are looking into it, right now it looks legitimate but we are researching it

Quoting tdion
relax its bad data
It's me...
  • #4
  • Sep 15, 2008 7:08pm Sep 15, 2008 7:08pm
yes. my stop loss is hit. I'm trading live. what do you mean by bad data?
  • #5
  • Sep 15, 2008 7:11pm Sep 15, 2008 7:11pm
How wide was your stop loss?
  • #6
  • Sep 15, 2008 7:13pm Sep 15, 2008 7:13pm
well spikes like this happen all the time in hindsight from corrupt data feeds.... i've never seen one this bad in real trading....

why not open charts from other MT4 brokers and compare? if they all spike, it's legit. if not, you have a valid complaint and they will likely give you your money back.
  • #7
  • Sep 15, 2008 7:13pm Sep 15, 2008 7:13pm
I set sl at 0.6674
  • #8
  • Sep 15, 2008 7:14pm Sep 15, 2008 7:14pm
Quoting AgentFx
Client Services 30: Hello this is Ben J. How can I help?
ME: What is with the spike on NZD/USD?
Client Services 30: we are looking into it, right now it looks legitimate but we are researching it
Dont see it on this broker. Ben J is an idiot.
Attached Image (click to enlarge)
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  • #9
  • Sep 15, 2008 7:16pm Sep 15, 2008 7:16pm
It's not on my chart with IBFX, must be something to do with the mini server. It is indeed bad data.
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  • #10
  • Sep 15, 2008 7:17pm Sep 15, 2008 7:17pm
Have you guys noticed the usdchf bar?
  • #11
  • Sep 15, 2008 7:22pm Sep 15, 2008 7:22pm
I agree, bad data.... that is probarly the worst spike I have ever seen on IBFX though.
  • #12
  • Sep 15, 2008 7:28pm Sep 15, 2008 7:28pm
Quoting pippin_min
I set sl at 0.6674
Phone IBFX, they should correct it for you. Although my FXDD live account had the same spike not all IBFX live mini servers show the same size spike and ODL shows no spike. With a SL as large as yours you have a good reason for them to correct it.

Here is what another live IBFX mini server showed.
Attached Image (click to enlarge)
Click to Enlarge Name: ibfx nzd.gif Size: 13 KB
  • #13
  • Sep 15, 2008 7:28pm Sep 15, 2008 7:28pm
Yeah your probably right, smjones,tdion, bad data..they are still leaning towards legit, so will see what happens.
It's me...
  • #14
  • Sep 15, 2008 7:39pm Sep 15, 2008 7:39pm
Quoting AgentFx
Yeah your probably right, smjones,tdion, bad data..they are still leaning towards legit, so will see what happens.
That is a joke if they honestly say it is real data. oh well.
  • #15
  • Sep 15, 2008 8:28pm Sep 15, 2008 8:28pm
It took them long enough but they came up with this:

Client Services 70: Hello this is Brady. How can I help?
Me: Did you figure out what the determining factor was on the ND/USD spike today?
ME: NZD/USD
Client Services 70: It was a mistake and we will be correcting those who were affected.
It's me...
  • #16
  • Sep 15, 2008 8:34pm Sep 15, 2008 8:34pm
Quoting AgentFx
It took them long enough but they came up with this:

Client Services 70: Hello this is Brady. How can I help?
Me: Did you figure out what the determining factor was on the ND/USD spike today?
ME: NZD/USD
Client Services 70: It was a mistake and we will be correcting those who were affected.
That is good news... I have faith in IBFX and I like them as a broker, but lately there have a been a few events that leave me with a bad taste in my mouth. I'm glad that this isn't one of them.
  • #17
  • Sep 15, 2008 9:16pm Sep 15, 2008 9:16pm
My nzdusd has been reinstated.
  • #18
  • Sep 15, 2008 9:33pm Sep 15, 2008 9:33pm
Quoting pippin_min
My nzdusd has been reinstated.
Glad to hear it.

AgentFX, Thanks for reporting back.
  • #19
  • Sep 15, 2008 11:32pm Sep 15, 2008 11:32pm
Thanks guys for your quick responses. I have been burned in the past with these spikes. I'm just glad everyone is getting their money back, including me LOL. Its amazing how some of the members here know more about how brokers work than the people who work for them.

Take care and thanks again guys.
It's me...
  • #20
  • Sep 16, 2008 2:16am Sep 16, 2008 2:16am
Quoting pippin_min
My nzdusd has been reinstated.
Just got this email from them:

"On September 15, 2008, there were some price spikes on all NZD currency pairs that originated from one of the institutions that we contract with for pricing and trade off-set.

The prices provided flowed correctly through our system. As indicated in our risk disclosure and customer agreements, one of the risks associated with trading Forex is that there is no central exchange. As in this case, this can result in prices that are not in line with prices being presented from other sources. "

So be warned, they are saying they don't have to make good on any trades you had stopped out due to this sort of thing.
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