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Outrageous Broker Fill

  • #21
  • Sep 18, 2008 12:25pm Sep 18, 2008 12:25pm
Ok everyone... I won't continue to go back and forth with you all. It's pointless to argue... I'm just letting you guys know the facts so that you can further your knowledge. My point of being here is to help and share my thoughts so you all can grow in your trading and become profitable. Please, do not take it as a diss to your trading... I am just letting you know from the "inside" how the market works... not what you've heard on broker scam websites and in these forums.

So, in saying all that, I will say again... your broker is not out to get you. They do not make an immediate profit off your losses. They make most of their profits off your spread(and they don't even make ALL the spread... most of it goes to the "bank"). They may hold a trade against you, but that's only because you are making a bad trade... you asked for it and they filled it(or they passed it off to be filled by some other "evil entity" that decided to fill your bad trade). Your stop-loss being "hunted" is the broker's liquidity provider(the broker doesn't give you prices, their liquidity provider does) having price volatility due to low volume and your increase in spreads is your broker protecting themselves from the market moving against them.

If anyone has any questions on how or why this happens, please feel free to ask. I love helping and love seeing traders prosper. But, please, the "blame game" on the broker has to stop.
  • #22
  • Sep 18, 2008 12:29pm Sep 18, 2008 12:29pm
I used to suspect people when they used to speak negative about OANDA or any other broker. But truth is that you don't realize untill you bet burned. I got burned badly because of their fradulent practises. I use mechanical system and I don't monitor my trade every min. Luckily that day I in front of my computer and everything happenned in front of me. I realized they are one of the other b****d broker. I suspect People who are giving positive reviews here in this post about OANDA are OANDA representative themselves.
  • #23
  • Sep 18, 2008 12:31pm Sep 18, 2008 12:31pm
Quoting JRowaboat
Ok everyone... I won't continue to go back and forth with you all. It's pointless to argue... I'm just letting you guys know the facts so that you can further your knowledge. My point of being here is to help and share my thoughts so you all can grow in your trading and become profitable. Please, do not take it as a diss to your trading... I am just letting you know from the "inside" how the market works... not what you've heard on broker scam websites and in these forums.

So, in saying all that, I will say again... your broker is not out to get you. They do not make an immediate profit off your losses. They make most of their profits off your spread(and they don't even make ALL the spread... most of it goes to the "bank"). They may hold a trade against you, but that's only because you are making a bad trade... you asked for it and they filled it(or they passed it off to be filled by some other "evil entity" that decided to fill your bad trade). Your stop-loss being "hunted" is the broker's liquidity provider(the broker doesn't give you prices, their liquidity provider does) having price volatility due to low volume and your increase in spreads is your broker protecting themselves from the market moving against them.

If anyone has any questions on how or why this happens, please feel free to ask. I love helping and love seeing traders prosper. But, please, the "blame game" on the broker has to stop.

Are you one of the OANDA representative who lurks on this FF.
  • #24
  • Sep 18, 2008 12:35pm Sep 18, 2008 12:35pm
Quoting leo9
Are you one of the OANDA representative who lurks on this FF.
Haha. Not quite. I trade for a hedge fund.
  • #25
  • Sep 19, 2008 12:42am Sep 19, 2008 12:42am
Quoting leo9
I used to suspect people when they used to speak negative about OANDA or any other broker. But truth is that you don't realize untill you bet burned. I got burned badly because of their fradulent practises. I use mechanical system and I don't monitor my trade every min. Luckily that day I in front of my computer and everything happenned in front of me. I realized they are one of the other b****d broker. I suspect People who are giving positive reviews here in this post about OANDA are OANDA representative themselves.
Instead of just complaining, show us the proof and publish here your minmax chart at the time the SL was executed.
If you fail to do this simple thing, we will just believe that you have looked only into the standard chart and then you haven't taken into account the spread. In such a case it is not your broker's mistake, it is just you who don't know how to read a chart.
Then please show us the minmax chart ! And then we can discuss on something concrete and not vague accusations.

PS: I obviously don't represent any broker but I am fed up with the guys who blame the broker for their incompetence. In another trade one guy complained about his broker because their was a gap during the week end!
  • #26
  • Sep 19, 2008 2:10am Sep 19, 2008 2:10am
Shrug. Saw a 10 pip spread the other day on Oanda... happens. Saw a 20 pip on IBFX yesterday the GBP M4 money news release.
  • #27
  • Sep 19, 2008 2:59am Sep 19, 2008 2:59am
Quoting JRowaboat
Ok everyone... I won't continue to go back and forth with you all. It's pointless to argue... I'm just letting you guys know the facts so that you can further your knowledge. My point of being here is to help and share my thoughts so you all can grow in your trading and become profitable. Please, do not take it as a diss to your trading... I am just letting you know from the "inside" how the market works... not what you've heard on broker scam websites and in these forums.

So, in saying all that, I will say again... your broker is not out to get you. They do not make an immediate profit off your losses. They make most of their profits off your spread(and they don't even make ALL the spread... most of it goes to the "bank"). They may hold a trade against you, but that's only because you are making a bad trade... you asked for it and they filled it(or they passed it off to be filled by some other "evil entity" that decided to fill your bad trade). Your stop-loss being "hunted" is the broker's liquidity provider(the broker doesn't give you prices, their liquidity provider does) having price volatility due to low volume and your increase in spreads is your broker protecting themselves from the market moving against them.

If anyone has any questions on how or why this happens, please feel free to ask. I love helping and love seeing traders prosper. But, please, the "blame game" on the broker has to stop.
You´re so funny
  • #28
  • Sep 19, 2008 3:16am Sep 19, 2008 3:16am
Quoting Rabid
Shrug. Saw a 10 pip spread the other day on Oanda... happens. Saw a 20 pip on IBFX yesterday the GBP M4 money news release.
But is the best way for stop hunt. 0% risk for MM.Quick and safe money for them.And I am sure that they will do the best for that.
I know that a lot of Forex traders ,never trade futures,stock...
They don´t know that they can ask or bid.
I trade futures ... and only in forex I saw these crazy spreads for evean 30min after the news (and before).
In futures will be for few seconds.Becose this is a real market and not one made by these bucket shops.
  • #29
  • Sep 19, 2008 7:45am Sep 19, 2008 7:45am
Quoting JRowaboat

your broker is not out to get you. They do not make an immediate profit off your losses. They make most of their profits off your spread

Your stop-loss being "hunted" is the broker's liquidity provider(the broker doesn't give you prices, their liquidity provider does) having price volatility due to low volume and your increase in spreads is your broker protecting themselves from the market moving against them.
I seem to remember having this conversation with you before...

When talking about firms like Oanda, GFT, FXCM etc etc they're not brokers, they're bucketshops, and they do profit when the vast majority of their punters lose.

Spreads in the underlying market don't really come into it as they hedge exposure on aggregate.

Unethical bucketshops without integrity (and on occasions even the honest ones) will shift quotes to suit their book, either for financial or liquidity reasons.
  • #30
  • Sep 30, 2008 11:44am Sep 30, 2008 11:44am
I agree with JRowaboat
  • #31
  • Sep 30, 2008 11:50am Sep 30, 2008 11:50am
A 32 point stop with this volatility. Fugettaboutit.
  • #32
  • Sep 30, 2008 7:57pm Sep 30, 2008 7:57pm
Quoting JRowaboat
Ok everyone... I won't continue to go back and forth with you all. It's pointless to argue... I'm just letting you guys know the facts so that you can further your knowledge. My point of being here is to help and share my thoughts so you all can grow in your trading and become profitable. Please, do not take it as a diss to your trading... I am just letting you know from the "inside" how the market works... not what you've heard on broker scam websites and in these forums.

So, in saying all that, I will say again... your broker is not out to get you. They do not make an immediate profit off your losses. They make most of their profits off your spread(and they don't even make ALL the spread... most of it goes to the "bank"). They may hold a trade against you, but that's only because you are making a bad trade... you asked for it and they filled it(or they passed it off to be filled by some other "evil entity" that decided to fill your bad trade). Your stop-loss being "hunted" is the broker's liquidity provider(the broker doesn't give you prices, their liquidity provider does) having price volatility due to low volume and your increase in spreads is your broker protecting themselves from the market moving against them.

If anyone has any questions on how or why this happens, please feel free to ask. I love helping and love seeing traders prosper. But, please, the "blame game" on the broker has to stop.

I did not have sex with that woman ...
Everyone on the sell side of FX unless its an ECN is a stop loss serial killer.
Their liquidity provider gives the prices to the market maker then they spread it.
FX solutions has just acquired data from EBS the biggest wholesale FX broker in the world to justify the highs and lows that are trade in the wholesale market.
Why have they gone to these lengths?
Because of the rogue brokers who deal outside of those highs and lows.
  • #33
  • Oct 1, 2008 12:32pm Oct 1, 2008 12:32pm
Note: If people don't want to hassell with alot of these so called "broker inproprieties" with retail spot fx brokers then they should just trade currency futures.
  • #34
  • Last Post: Oct 3, 2008 11:13am Oct 3, 2008 11:13am
Everyone now knows that Oanda is horrible. They have started manipulating prices quite frequently. Please look other FF posts, many FF memebers got burned because of Oanda's outrageous spikes which happens quite often now. There shoul be a seperate gov agency to look after these bucket shops.
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