Outrageous Broker Fill | Forex Factory

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Outrageous Broker Fill

  • #1
  • First Post: Sep 16, 2008 10:51pm Sep 16, 2008 10:51pm
I placed a short order at 1.4138 stop loss 1.4170 and my stop loss was executed even though price never reached 1.4170. I was in front of my computer all the time. The price hit my stop loss without even reaching 1.4170. This outrageous. I am contacting customer service and they are giving me all bs. I seriously started thinking that all brokers are b****rd.
  • #2
  • Sep 16, 2008 10:56pm Sep 16, 2008 10:56pm
Is there any place where we can complain such outrageous behavior. I am really pissed off.
  • #3
  • Sep 16, 2008 10:59pm Sep 16, 2008 10:59pm
It happenned just in past 2 30 min.
  • #4
  • Edited 11:23pm Sep 16, 2008 11:04pm | Edited 11:23pm
Quoting leo9
I placed a short order at 1.4138 stop loss 1.4170 and my stop loss was executed even though price never reached 1.4170. I was in front of my computer all the time. The price hit my stop loss without even reaching 1.4170. This outrageous. I am contacting customer service and they are giving me all bs. I seriously started thinking that all brokers are b****rd.
The price doesn't have to hit it if the spread (reval rate) does first. If after you check that it's confirmed it never hit, you should push tehm to reverse the trade. Oanda, are they based in US?

I see a 1.4169 trade about 40-45 min ago. if it was then, the stop could have been hit. That's why I don't use stops, unless I am prepared to hand my money over in a flash.
  • #5
  • Sep 16, 2008 11:13pm Sep 16, 2008 11:13pm
After Oanda's unexplained 'shut down' yesterday morning nothing surprises me anymore.
  • #6
  • Sep 16, 2008 11:22pm Sep 16, 2008 11:22pm
There guys are outrageous. I was winning continuosly with my mechanical system. I guess they found out that and starting to manipulate my trades.I am extremely pissed off them. I should have listened to others that they are not good broker.
  • #7
  • Sep 16, 2008 11:24pm Sep 16, 2008 11:24pm
Quoting TIckerShuffl
The price doesn't have to hit it if the spread (reval rate) does first. If after you check that it's confirmed it never hit, you should push tehm to reverse the trade. Oanda, are they based in US?

I see a 1.4169 trade about 40-45 min ago. if it was then, the stop could have been hit. That's why I don't use stops, unless I am prepared to hand my money over in a flash.

It never did. Yes they are based in US.
  • #8
  • Sep 16, 2008 11:28pm Sep 16, 2008 11:28pm
What explanation has Oanda given ?
  • #9
  • Sep 16, 2008 11:30pm Sep 16, 2008 11:30pm
Quoting BentRod
What explanation has Oanda given ?

All BS no serious answer. I tried to explain them thousand of time my situation and they were talking me about my past tread. I was extremely pissed off wasting 30 min to explain them and finally gave up.
  • #10
  • Sep 16, 2008 11:44pm Sep 16, 2008 11:44pm
I think they would take it seriously if you gave them a screenshot.

A proof that it never hit your SL.
  • #11
  • Sep 16, 2008 11:46pm Sep 16, 2008 11:46pm
Quoting leo9
All BS no serious answer. I tried to explain them thousand of time my situation and they were talking me about my past tread. I was extremely pissed off wasting 30 min to explain them and finally gave up.
To my knowledge there is no industry body for complaint.
Obviously they arent the broker for you, so withdraw your funds immediately.
You have a choice of going to an ECN like hotspotfxr who dont use market makers.
You can use FX solutions who are market maker and will guarantee the highs and lows from the interbank market.
Spreads are a little wider but at least you know their being honest
  • #12
  • Sep 16, 2008 11:49pm Sep 16, 2008 11:49pm
Quoting bourne1988
I think they would take it seriously if you gave them a screenshot.

A proof that it never hit your SL.
Can you post the Oanda chart here showing entry,exit?
  • #13
  • Sep 17, 2008 3:44am Sep 17, 2008 3:44am
Have you checked Min/Max chart ?
  • #14
  • Sep 17, 2008 6:10am Sep 17, 2008 6:10am
My Oanda charts are saying your stop would have been hit as well. You would have been stopped out on the other brokers I use too. I don't think you can blame the broker here. Just write down what you did wrong and adjust your trading strategy to make sure it doesn't happen again.
  • #15
  • Sep 17, 2008 7:52pm Sep 17, 2008 7:52pm
Quoting leo9
There guys are outrageous. I was winning continuosly with my mechanical system. I guess they found out that and starting to manipulate my trades.I am extremely pissed off them. I should have listened to others that they are not good broker.
Leo, sorry to hear about the loss, but happy you've found a quality system to trade. I don't want to seem like I'm protecting the broker here, but I am going to be honest with you... they almost assuredly did not "find out and start manipulating" your trades... if you have a quality system, they actually are happy with that because you giving them pip spread. Your broker does not have interest to see you lose... they make money off your fees... not your loss(not like a casino). Most likely, your stop loss was hit because of low liqudity and an increase in spread. This spread increase is done by the broker at times when liquidity is reduced because of less trading and/or price quoting(such as a low volume trading session or a news release). In any event, I suggest looking to change your trading approach to account for a broker increasing spread or market volatility.
  • #16
  • Sep 17, 2008 11:58pm Sep 17, 2008 11:58pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
""Your broker does not have interest to see you lose... ""

What a BS....
  • #17
  • Sep 18, 2008 6:59am Sep 18, 2008 6:59am
Quoting JRowaboat
Leo, sorry to hear about the loss, but happy you've found a quality system to trade. I don't want to seem like I'm protecting the broker here, but I am going to be honest with you... they almost assuredly did not "find out and start manipulating" your trades... if you have a quality system, they actually are happy with that because you giving them pip spread. Your broker does not have interest to see you lose... they make money off your fees... not your loss(not like a casino). Most likely, your stop loss was hit because of low liqudity and an increase in spread. This spread increase is done by the broker at times when liquidity is reduced because of less trading and/or price quoting(such as a low volume trading session or a news release). In any event, I suggest looking to change your trading approach to account for a broker increasing spread or market volatility.
SORRY, BUT I´M going to ....
"if you have a quality system, they actually are happy with that because you giving them pip spread."
"Your broker does not have interest to see you lose... they make money off your fees... not your loss(not like a casino). " What fees???
"your stop loss was hit because of low liqudity and an increase in spread."

"change your trading approach "
  • #18
  • Sep 18, 2008 7:06am Sep 18, 2008 7:06am
Quoting leo9
I placed a short order at 1.4138 stop loss 1.4170 and my stop loss was executed even though price never reached 1.4170. I was in front of my computer all the time. The price hit my stop loss without even reaching 1.4170. This outrageous. I am contacting customer service and they are giving me all bs. I seriously started thinking that all brokers are b****rd.
Oanda is just a big BUCKET SHOP.
  • #19
  • Sep 18, 2008 9:37am Sep 18, 2008 9:37am
Just to clarify, some brokers do indeed make money when you lose. Oanda is one of them. Please get your facts straight before posting on a forum.
  • #20
  • Sep 18, 2008 10:00am Sep 18, 2008 10:00am
maybe it's time to remind the basics reading this good post
http://www.forexfactory.com/showpost...71&postcount=1

Then I would be also very interested, as somebody else mentioned, to see the minmax chart at the time your SL was filled. I guess that if you accuse you have a proof to show us.
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