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Any brokers guaranteeing stop loss protection?

  • #21
  • Jun 4, 2009 10:13pm Jun 4, 2009 10:13pm
I had a problem 6 months ago, it happened that i was opening order at the moment when the gap appeared, the gap was 180 pips and my opened order was -180 pips at the time of opening the order. After long dicusions and lots of emails i got half of the money back.
No One Ever Went Broke Taking a Profit ...
  • #22
  • Jun 4, 2009 11:03pm Jun 4, 2009 11:03pm
Quoting fxbillie
I may as well get out of this volatile Forex market and trade stocks or options..
Slippage is much worse in the equity markets.

135 pips isn't a big deal if you didn't use leverage.
  • #23
  • Jun 4, 2009 11:15pm Jun 4, 2009 11:15pm
Quoting blazespinnaker
I call bullsh*t.
Ouch, my feelings.

No slippage occurs on platforms that offer the Request For Quote option. ACM also offers a similar feature. There's no instant execution... it usually takes a few seconds to get a quote, but once your quote is locked on it's executed without slippage, hence what I said was not bullsh*t.
  • #24
  • Jun 5, 2009 12:09am Jun 5, 2009 12:09am
In theory, the next best price could go in your favour too. E.g. you got at 100 and had a Take Profit at 100.50. Price shoots through that level and your take profit gets filled at 101..
Has anyone benefitted from closing at a better price thanks to a substantial amount of slippage like what happened during the european session recently? Apparantly it was due to some ECB meeting.
  • #25
  • Jun 5, 2009 12:42am Jun 5, 2009 12:42am
Quoting fxbillie
FXCM is probably the biggest name as FX broker. I have been with them over 5 years
I thought you had just started out! Let me get this straight, you've been trading for over 5 years and you still don't understand price gaps and slippage in volatile markets?

I suggest you take the FXCM rep up on her offer to explain to you how the market works and why things like this can happen, or click the link I posted and read about execution risks!
  • #26
  • Jun 5, 2009 12:45am Jun 5, 2009 12:45am
Quoting fxtrader29
I am more interested in how it happened.
Trading Execution Risks

It's all there, self-explanatory really.
  • #27
  • Jun 5, 2009 1:05am Jun 5, 2009 1:05am
Quoting blazespinnaker
I agree .. a transparent answer to this problem would definitely go a long way to improving your reputation as a transparent and honest broker.
It's not a 'problem' as such it's just something which happens occasionally, read and educate yourself.

Trading Execution Risks


I can't believe so many of you trade a market which you quite obviously don't understand, how you ever expect to make a profit is beyond me!



"FXCM aims to provide clients with the best pricing available and to get all orders filled at the requested rate. However, there are times when, due to an increase in volatility or volume, orders may be subject to slippage. This most commonly occurs during fundamental news events."

"The volatility in the market may create conditions where orders are difficult to execute, since the price might be many pips away due to the extreme market movement."
"Once a stop is triggered, it becomes an At Best market order, and there is no guarantee it will be filled at any particular given price. Therefore, stop orders may incur slippage depending on market conditions."
  • #28
  • Jun 5, 2009 9:47am Jun 5, 2009 9:47am
Due to the BOE rate decision the market jumped from 1.6365 to 1.6082, 283 pips. While 135 pips of slippage may seem extreme, if it is put in the context of a 283 pip move it is not even half of that. Trading on news events prevents opportunities, but it also prevents enormous risks. Any trader trading during a news event, even if it means just having a stop on during that time, needs to be willing to accept those risks. FXCM prides itself on its no dealing desk business model, where we have 10 liquidity providers feeding us prices. However it is unrealistic to think that there was liquidity at every price on the way down during that move. Markets gap during news events, that is a reality and traders have to be willing to accept that risk.

I've attached the chart.

I am not part of the Sales department at FXCM, so I can only suggest that you contact the Sales department via phone, chat, or e-mail if you would like more information or are interest in logging an audit for a trade. Micro clients would go to the Support Center.

I can always be contacted at [email protected] to help in anyway that I can.

Kindest regards,
Jaclyn Sales
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 120 KB
  • #29
  • Jun 5, 2009 10:30am Jun 5, 2009 10:30am
BOE decision? Do you have a link to the BOE decision that happened at the night of June 3rd/4th?

Anyways, can you tell us some stats on how you much you slipped people into profit? I think when this sort of happens, we'll all feel better if you can convince us that our chances and amount of slipping past our Take Profit is exactly the same as slipping past our Stop Loss.
  • #30
  • Jun 5, 2009 10:44am Jun 5, 2009 10:44am
Typing Edit: Trading on news events presents opportunities, but it also presents enormous risks.

BOE and ECB that morning can be found on the DailyFX Calendar: http://www.dailyfx.com/calendar/

We don't have stats on slippage because we are not the ones slipping. No Dealing Desk means every trade is executed back to back with one of the world's premier banks or financial institutions, which compete to provide FXCM with bid and ask prices. If you want to be able to see depth of market, which will give you a better idea of how much liquidity is available at each price, you can try out the Active Trader platform. You can sign up for a demo here: http://www.fxcm.com/active-trader.jsp
  • #31
  • Jun 5, 2009 11:56am Jun 5, 2009 11:56am
LOL wow i wonder what this guy would do if he/she were trading futures and the trade got locked limit against him... a 200 + pip spike and you want your stop to be honored at about -2 pips of that spike? but yes of course it was not YOUR fault. its SOMEBODY elses... just shows you dont know what you are doing.
  • #32
  • Jun 5, 2009 12:05pm Jun 5, 2009 12:05pm
Quoting jsales
Trading on news events prevents opportunities....
lol, ooops
  • #33
  • Jun 5, 2009 12:08pm Jun 5, 2009 12:08pm
Quoting mofuniverse
LOL wow i wonder what this guy would do if he/she were trading futures and the trade got locked limit against him... a 200 + pip spike and you want your stop to be honored at about -2 pips of that spike? but yes of course it was not YOUR fault. its SOMEBODY elses... just shows you dont know what you are doing.
What happened with this guy is terrible, from the customer point of view of course. If brokers would execute TP with slippage it would be fair. But unfortunately they are not. Not on a forex market.
  • #34
  • Jun 5, 2009 12:14pm Jun 5, 2009 12:14pm
sure what happened to him is terrible i agree. but what exactly happened? his own ignorance of the markets caused him that loss. he should be crying on how he forgot to look for the news releases for the night and how HE screwed up. nobody to point the finger at here but the mirror. as soon as he realizes this the sooner he will become profitable, but by the sounds of it he has a looooong way to go


Quoting lavatrader
What happened with this guy is terrible, from the customer point of view of course. If brokers would execute TP with slippage it would be fair. But unfortunately they are not. Not on a forex market.
  • #35
  • Jun 5, 2009 12:38pm Jun 5, 2009 12:38pm
Quoting mofuniverse
sure what happened to him is terrible i agree. but what exactly happened? his own ignorance of the markets caused him that loss. he should be crying on how he forgot to look for the news releases for the night and how HE screwed up. nobody to point the finger at here but the mirror. as soon as he realizes this the sooner he will become profitable, but by the sounds of it he has a looooong way to go
It was an expensive lesson for the guy but it doesn't sound like he's got his money's worth, it seems he's still blaming the broker.

If I'd had an open trade on Wednesday night, in profit, and bearing in mind the sheer volume of potentially volatile data being released on Thursday and Friday I think I would have closed the trade or at least reduced it, better to have a guaranteed profit banked and be sidelined while the lunacy's going on.
  • #36
  • Jun 5, 2009 12:45pm Jun 5, 2009 12:45pm
hes still paying tuition, still learning. actually he has NOT learned since he is blaming the broker.


Quoting pipmutt
It was an expensive lesson for the guy but it doesn't sound like he's got his money's worth, it seems he's still blaming the broker.

If I'd had an open trade on Wednesday night, in profit, and bearing in mind the sheer volume of potentially volatile data being released on Thursday and Friday I think I would have closed the trade or at least reduced it, better to have a guaranteed profit banked and be sidelined while the lunacy's going on.
  • #37
  • Jun 5, 2009 1:01pm Jun 5, 2009 1:01pm
I think you guys need to learn a thing or two. This wasn't caused by the BOE or any 'news release' he could have looked up.

It was caused by the sudden rumor that Brown was going to resign.

I think his concern is reasonable. When there is massive slippage like this, I would like to hear some proof that clients are getting slipped both ways, evenly - passed stop losses and take profits.

Your desire to simply roll over and be apologists for slippages makes me think you're just a shill for brokers, PipMutt.
  • #38
  • Jun 5, 2009 1:06pm Jun 5, 2009 1:06pm
Quoting sfx
Ouch, my feelings.

No slippage occurs on platforms that offer the Request For Quote option. ACM also offers a similar feature. There's no instant execution... it usually takes a few seconds to get a quote, but once your quote is locked on it's executed without slippage, hence what I said was not bullsh*t.
SFX ... How can this possibly work? If I put up 5 lots and the market gaps 238 pips, how could your broker possibly afford to guarantee my 5 pip stop loss?

Nobody is immune from slippage.
  • #39
  • Jun 5, 2009 1:25pm Jun 5, 2009 1:25pm
Quoting pipmutt
It was an expensive lesson for the guy but it doesn't sound like he's got his money's worth, it seems he's still blaming the broker.

If I'd had an open trade on Wednesday night, in profit, and bearing in mind the sheer volume of potentially volatile data being released on Thursday and Friday I think I would have closed the trade or at least reduced it, better to have a guaranteed profit banked and be sidelined while the lunacy's going on.
me (yes me ) close everything before the b.s.!!
  • #40
  • Jun 5, 2009 2:02pm Jun 5, 2009 2:02pm
I have been using ac-market for 7months now and when you set a stop order you get it; it has worked for me every time; even in situations when the price is moving fast
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