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Forex.com didn't fulfil my order!

  • #1
  • First Post: May 27, 2010 4:39am May 27, 2010 4:39am
I just got back into trading after a while of practice trading following J16. I placed a trade only to have these thieves adjust their pricing so it misses my Limit order by 3/10 OF A PIP!! The whole time, their pricing was following the market & when it gets near my limit order, their price starts to fall behind by a pip!! Twice they did this to me & after today, I cleaned out my account & am looking for an honest broker. Are there any of those around?
  • #2
  • May 27, 2010 4:52am May 27, 2010 4:52am
Quoting rd122481
I just got back into trading after a while of practice trading following J16. I placed a trade only to have these thieves adjust their pricing so it misses my Limit order by 3/10 OF A PIP!! The whole time, their pricing was following the market & when it gets near my limit order, their price starts to fall behind by a pip!! Twice they did this to me & after today, I cleaned out my account & am looking for an honest broker. Are there any of those around?
I have no doubt Forex.com/Gain is up to no good (their reputation is horrible), but they didn't exactly steal your money. You just had an order not get filled. Would the trade have gone into profit? If not, would you still think they were stealing from you?

Re. brokers, probably try one of the decent ECN's like MB Trading, PFG, Dukascopy, etc. But regardless I encourage to do your research first. I doubt if you did that to begin with you ever would have gone with Forex.com...
  • #3
  • May 27, 2010 4:52am May 27, 2010 4:52am
I don't fully understand what you mean by "price following the market". There is no Forex Market. Also no one said that it's impossible that your orders get missed by just even 1/10th of a pip.
  • #4
  • May 27, 2010 4:57am May 27, 2010 4:57am
thieves, thieves I tell ya!!
  • #5
  • May 27, 2010 9:28pm May 27, 2010 9:28pm
By following the market I mean I used E-Signal & their price feed which gets its price from somewhere else as opposed to getting it from Forex.com. They were both in line with each other reading the same until it reached my take profit point. When it reached my take profit point, the "market" surpassed it by 2 pips while Forex.com's pricing stayed 3/10 of a pip below my order. That is why I say that THEY ARE THEIVES. Had pricing continued to stay the same as "the market", I would've been cashed out in profit...but conveniently for them, there price just so happened to lag behind @ that very moment. Oh...while I was arguing with their rep, he let it slip that different people see different prices...WTF kind of crap it that?!
  • #6
  • May 27, 2010 9:38pm May 27, 2010 9:38pm
TC East, you misunderstand me... I was already involved in the trade. I say they stole because of how they doctored their pricing around my take profit point. That is just plain dishonest thievery!! They also have done this twice which I why I say what I say. How does the price mirror an independant's price feed except for when the trade is going to be cashed out in a profit? And then do that same thing, in the same currency, just at a different price around another profitable Limit Order? That is too much of a "coincidence" (read: SCAM) for me.
  • #7
  • May 27, 2010 11:28pm May 27, 2010 11:28pm
Quoting rd122481
TC East, you misunderstand me... I was already involved in the trade. I say they stole because of how they doctored their pricing around my take profit point. That is just plain dishonest thievery!! They also have done this twice which I why I say what I say. How does the price mirror an independant's price feed except for when the trade is going to be cashed out in a profit? And then do that same thing, in the same currency, just at a different price around another profitable Limit Order? That is too much of a "coincidence" (read: SCAM) for me....
Oh ok, yes you're correct I did misunderstand; I thought you just missed an entry not a take profit.

Well as mentioned that broker's reputation is horrible; you'd do better with the ones I mentioned I think. You can read customer reviews of brokers at Forex Peace Army. A lot of people here poo poo them for some reason, but I'd just ignore that and get what you can from the site. Very helpful in my opinion...

Re. this event, as I also alluded to above it wouldn't surprise me if they are using that Dealer Plug-In or something else to screw you...it certainly wouldn't be the first time.

Another suggestion, read "Beat the Forex Dealer" by Agustin Silvani.

Best wishes...
  • #8
  • May 28, 2010 12:20am May 28, 2010 12:20am
Quoting rd122481
I just got back into trading after a while of practice trading following J16. I placed a trade only to have these thieves adjust their pricing so it misses my Limit order by 3/10 OF A PIP!! The whole time, their pricing was following the market & when it gets near my limit order, their price starts to fall behind by a pip!! Twice they did this to me & after today, I cleaned out my account & am looking for an honest broker. Are there any of those around?
You must be trading some serious size to entice a broker to manipulate their price around your order. It's likely there were stoplosses in the same area that would have been missed by 3 tenths of a pip, so what would they gain? Or are you saying that your account has somehow been singled out and targeted?

In July you started a thread stating that Forex.com was fiddling with your demo the same way. Creepy activity you called it here: http://www.forexfactory.com/showthre...25#post2882625
What would the motive be for them to cheat your demo? And if they were, why would you now be trading real money with them? Just wondering.
  • #9
  • May 28, 2010 1:40am May 28, 2010 1:40am
Quoting billflet
You must be trading some serious size to entice a broker to manipulate their price around your order. It's likely there were stoplosses in the same area that would have been missed by 3 tenths of a pip, so what would they gain? Or are you saying that your account has somehow been singled out and targeted?

In July you started a thread stating that Forex.com was fiddling with your demo the same way. Creepy activity you called it here:...
You brought up some interesting and valid points for our friend to answer, but I did want to comment on your statement "Or are you saying that your account has somehow been singled out and targeted?"

Technology exists for MT4 brokers to manipulate orders and fills EN MASSE. Why would they single out any one account when they can apply the same manipulation broadly?

In this case, if they can prevent a 3/10 pip profit on every order in their system, that adds up to a hefty amount of money over time. I'm not saying that's what happened here, just that it CAN happen, and is in the broker's financial interest.

There's plenty of evidence that this can be done (Dealer Plug-In for example). Is that what happened in this particular case? Who knows. But it's a plausible suggestion that it was dealer manipulation regardless.

Anyway, just thought I'd raise the point...
  • #10
  • May 28, 2010 3:18am May 28, 2010 3:18am
Quoting TC East

In this case, if they can prevent a 3/10 pip profit on every order in their system, that adds up to a hefty amount of money over time. I'm not saying that's what happened here, just that it CAN happen, and is in the broker's financial interest.

I've used forex.com in the past and have had my Take Profits missed by a hair. To my benefit, I've also had my Stoplosses missed by a hair an equal number of times. And I've had my Take Profits hit by a fraction of a pip before reversing. That's trading.

Sure prices can be manipulated en masse. He's saying that they are manipulating price around his particularTPs, as if they're watching his account specifically. He stated that forex.com's price matched his eSignal feed all day long except at his exact TP points and only then did they vary.
  • #11
  • May 28, 2010 5:00am May 28, 2010 5:00am
Quoting billflet
I've used forex.com in the past and have had my Take Profits missed by a hair. To my benefit, I've also had my Stoplosses missed by a hair an equal number of times. And I've had my Take Profits hit by a fraction of a pip before reversing. That's trading.

Sure prices can be manipulated en masse. He's saying that they are manipulating price around his particularTPs, as if they're watching his account specifically. He stated that forex.com's price matched his eSignal feed all day long except at his exact TP points and only then did they vary....
Amen to that, they're such a huge broker man just chill and don't externalise blame, if you don't like em, simply move on.
  • #12
  • May 28, 2010 5:24am May 28, 2010 5:24am
Quoting billflet
I've used forex.com in the past and have had my Take Profits missed by a hair....
Yeah I know what "trading" is, but not sure you understand what I was saying. The technology exists to manipulate ALL order fills, including our friend's here. For example, a broker can intentionally slip every entry order 0.3 pips in their favor. If they do that, are they watching each individual order on each individual account? Of course not. They press a button and it occurs on all accounts (or whichever ones they want). They don't have to know or care about any ONE trader's account, order, etc. That's what I was saying.

If that's do-able on entry orders, it's do-able en masse on limit TP's SL's and so forth. So it's entirely possible his TP was manipulated along with a zillion other people's. They don't have to be watching just his account.

Also, I didn't see him mention esignal anywhere btw...

As I said above, I'm not saying that's what actually occurred, just that it's entirely possible, and the technology to do it is readily available to brokers.

Inserted Video


Above if you have the time This guy is obvously selling something, but it might help understand my point if you care to watch...

Cheers
  • #13
  • May 28, 2010 5:30am May 28, 2010 5:30am
Quoting TC East
intentionally slip every entry order 0.3 pips in their favor.
Of course that's possible, no one is denying that... but from what I've read the dude is saying the market went 0.3pips close to his TP before reversing....different story, no slippage included
  • #14
  • May 28, 2010 5:42am May 28, 2010 5:42am
Quoting rd122481
By following the market I mean I used E-Signal & their price feed which gets its price from somewhere else as opposed to getting it from Forex.com. They were both in line with each other reading the same until it reached my take profit point. When it reached my take profit point, the "market" surpassed it by 2 pips while Forex.com's pricing stayed 3/10 of a pip below my order. That is why I say that THEY ARE THEIVES. Had pricing continued to stay the same as "the market", I would've been cashed out in profit...but conveniently for them, there...
I read it here. This is the post that made me think he thought he was being singled out.
  • #15
  • May 28, 2010 6:04am May 28, 2010 6:04am
Guess what we have all had orders that got missed by a fraction of a pip. Take some responsibility for your own trading instead of trying find other reasons you can't trade.
  • #16
  • May 28, 2010 6:41am May 28, 2010 6:41am
Well I just longed UJ and put BE SL quite early because of this slowness in UK lunch,, came back to +1 and hovered now it's back over +10...this stuff is not very rare at all but some people I dunno if it's due to inexperience, they just really like to shift blame instead of internalising and improving themselves
  • #17
  • May 28, 2010 10:36am May 28, 2010 10:36am
Quoting TC East
If that's do-able on entry orders, it's do-able en masse on limit TP's SL's and so forth. So it's entirely possible his TP was manipulated along with a zillion other people's. They don't have to be watching just his account.

Also, I didn't see him mention esignal anywhere btw...


Cheers
I watched the video and it's very informative. Most of those functions have a legitimate purpose but, I agree, can also be easily abused.

However my skepticism is based on this post, and the eSignal references which you missed: http://www.forexfactory.com/showpost...55&postcount=5

Forex.com is careful in it's tutorials to point out that when using their complimentary eSignal charts that you have a choice of price feeds and that they will vary slightly from forex.com's charts. They also explain the reason why.

Also, if someone remains with a broker for almost a year after starting a thread about their "creepy activity" and demo manipulation, it tends to beg questions. I admit, I may be just too skeptical.


In another post the OP stated he liked Forex.com's platform. So I'm assuming he uses that instead of MT4. Granted, I'm sure they have their own "management tools".

I did enjoy the video though.
  • #18
  • May 28, 2010 3:14pm May 28, 2010 3:14pm
Quoting billflet
I watched the video and it's very informative. Most of those functions have a legitimate purpose but, I agree, can also be easily abused.

However my skepticism is based on this post, and the eSignal references which you missed: http://www.forexfactory.com/showpost...55&postcount=5

Forex.com is careful in it's tutorials to point out that when using their complimentary eSignal charts that you have a choice of price feeds and that they will vary slightly from forex.com's charts. They also explain the reason why.

Also, if someone...
Ok gotcha; I hadn't read the other posts/thread you were referring to, but now your earlier comments do make a lot more sense to me. Yeah I think I/we have delved into things beyond what the thread started initially addressed, but still it's an interesting discussion.

That book I referenced earlier "Beat the Forex Dealer" I think is also very good, and talks about how dealers and banks see the retail market. An eye opener and helpful in my trading.

Appreciate your respectful and useful responses billflet...

Have a good one...
  • #19
  • May 28, 2010 3:20pm May 28, 2010 3:20pm
Quoting TC East
"why don't you take responsibility" jabs people always seem to post...
So because it's more blunt and to the point you distinguish it as a jab.. good..

If sometimes people changed their attitude and became slightly more gracious in strangers taking time out to type advice, be it in a critical manner or not, then they would develop themselves, as traders or in general.
  • #20
  • May 28, 2010 3:24pm May 28, 2010 3:24pm
Quoting Sim
So because it's more blunt and to the point you distinguish it as a jab.. good..

If sometimes people changed their attitude and became slightly more gracious in strangers taking time out to type advice, be it in a critical manner or not, then they would develop themselves, as traders or in general.
Actually wasn't even referring to you, and as you'll notice I deleted that part of the post (before your response), but if you want to take offense anyway, that's your prerogative...my point was that posts like that probably aren't going to help somebody like the thread starter; I just don't see anything useful in it.

Many people like to post here just to hear themselves talk. As I said, I wasn't directing that at you anyway, and if your intention was to help the guy, then good on you...

Peace...
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