One collective discussion for all brokers | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Collective FX has LOST its Mojo. (New Feed is WORSE) 140 replies

The Collective LLC 3 replies

One for all. All for one. 6 replies

Jacko style trades (collective journal) 12 replies

One collective discussion for all brokers

  • #1
  • First Post: Jul 5, 2013 1:02pm Jul 5, 2013 1:02pm
Hi everyone, I use Metatrader 4 for my trading and some time ago this year, I have experienced a problem where on my real account, the server time and prices only updates every 10 minutes, and this issue persisted for around 3 hours. It doesn't show that there is "No connection" on my Metatrader 4 program on the computer, and using it on my mobile phone it also showed those lags. Such a lag costed me some money as it happened after a Tier 1 figure. I on this event used a demo account from another broker, and it was working just fine, while my live account with this broker was not working at all.

Yesterday again, and today, after ECB, BOE and the NFP, the server time is constantly 1 minute off the real market time, where tick charts a stalled and does not move at all, but suddenly they update very aggressively and lags again. Against, this lag costed me some money.

I first thought that perhaps it might be my connection's issue in the first time where it happened, but now after experiencing the whole similar event again, I deemed that my broker seems to be having some issues with their price feed and server. I have contacted them and they reiterate that there are no issues, however, I can see it from my screen and it is certainly impossible for tick charts not to be volatile and be stalled with no movement after payrolls, hence this is very weird, and I am sure that there is an issue with the server and not my connection, as demo accounts on other brokers were working both fine.

Any idea why this happened, and what should I do, as I feel that I am unfairly treated as I have been exposed to the market without receiving real time information from the broker through the platform. The other thing is that when I called up the customer support, they didn't even remind me that there was dealing in the event which happened earlier this year, it was only when all my positions were stopped out when the connection resumed normal that the person said that there was a dealing platform through the phone, isn't this in some sense negligence?

Any thoughts guy, because this is certainly very weird and should not happen. How shall I peruse this, any idea? Account is regulated by UK authorities.
  • #2
  • Jul 5, 2013 5:24pm Jul 5, 2013 5:24pm
It looks like your broker is having connectivity issues with their servers. Gaps in data flow like that can happen if a server failed, had a hardware issue, or cables were cut to the datacentre housing their servers. Did you ask them about it?
  • #3
  • Jul 6, 2013 5:45am Jul 6, 2013 5:45am
Hi Jafar,

I have spoken to them about it when it happened earlier this year, they said that they don't see an issue when I was trying to get them to resolve it, then this customer service didn't even remind me that there's a dealing department which I could call to minimise my risk.


A few days ago under choppy environments, BOE, ECB and NFP, this happened again, and i showed them screenshots of the server time being one minute delayed compared to the time of my computer and the world GMT time. The sever time was showing that it was on the 50th minute, when it was on the 51st minute already. They said that they're checking but there is not answer from them as their IT department claims that there is no issue. However, I have a whole screenshot proving it's a minute late and that tick charts were stalled even after NFP, this forced me to close my positions with significant losses and pips lost.


Let alone earlier this year, they stopped me out too when the platform recovered.


What should I do any advice?
  • #4
  • Jul 6, 2013 6:07am Jul 6, 2013 6:07am
which broker is it?


and why taking all this pain?

sign up with some decent reputed ECN broker.
been there done that, Good Bye
  • #5
  • Jul 6, 2013 6:37am Jul 6, 2013 6:37am
Quoting WhiteHorse
which broker is it? and why taking all this pain? sign up with some decent reputed ECN broker.

Rather not quote the broker's name, but it is actually a very reputable broker, with a STP and agency model, using tier 1 sell side banks, so what happened is very weird.
  • #6
  • Jul 6, 2013 6:38am Jul 6, 2013 6:38am
Quoting WhiteHorse
which broker is it? and why taking all this pain? sign up with some decent reputed ECN broker.


It is also an ECN broker, so any idea what I should do?
  • #7
  • Jul 6, 2013 7:25am Jul 6, 2013 7:25am
before doing any thing, I suggest u to make sure problem is not from your side?

like some glitch in ur laptop/PC or internet connection?
been there done that, Good Bye
  • #8
  • Jul 6, 2013 7:26am Jul 6, 2013 7:26am
Am sure that the issue is not on my side as demo accounts with other brokers worked just fine.
  • #9
  • Jul 6, 2013 7:30am Jul 6, 2013 7:30am
Quoting cloudstr1f3r
Am sure that the issue is not on my side as demo accounts with other brokers worked just fine.
if u have lost some substantial amount and have all proofs with you, you can go ahead with legal cell in your country.
been there done that, Good Bye
  • #10
  • Jul 6, 2013 7:46am Jul 6, 2013 7:46am
Yes it is ia five digit USD loss, their compliance officer actually got very worried and called me about it, but their reimbursement which is lower spreads is totally not acceptable at all, I do not mind if you give me lower spreads, but this is a totally different aspect. Like last time, I shorted the GBP after BOE, but they were lagging non stop again, this forced me to close my position, i wanted to close at 1.5080, but they lagged again and prices jumped to 1.51 again, so i lost 20 pips for NO reason at all. I am very pissed off and I am not happy, there's a difference of a four digit loss.

Any thoughts?
  • #11
  • Jul 6, 2013 8:19am Jul 6, 2013 8:19am
Quoting cloudstr1f3r
Yes it is ia five digit USD loss, their compliance officer actually got very worried and called me about it, but their reimbursement which is lower spreads is totally not acceptable at all, I do not mind if you give me lower spreads, but this is a totally different aspect. Like last time, I shorted the GBP after BOE, but they were lagging non stop again, this forced me to close my position, i wanted to close at 1.5080, but they lagged again and prices jumped to 1.51 again, so i lost 20 pips for NO reason at all. I am very pissed off and I am not...
one of my friend had similar problem with her broker which was based in Australia, she went there hired a lawyer and fought for justice and finally got all her money back and she also made broker to pay all bills while she was in Australia.

so u can also look for similar option.
been there done that, Good Bye
  • #12
  • Jul 6, 2013 8:20am Jul 6, 2013 8:20am
Hm, would talk to the broker first, if they would not provide a satisfactory reimbursement I would fight for justice.
  • #13
  • Jul 6, 2013 9:10am Jul 6, 2013 9:10am
Quoting WhiteHorse
{quote} one of my friend had similar problem with her broker which was based in Australia, she went there hired a lawyer and fought for justice and finally got all her money back and she also made broker to pay all bills while she was in Australia. so u can also look for similar option.

Hi whitehorse, I want your opinion on this though.

For MT4, if there is no connection, it would say "No connection" instead of being remained connected without a response from the sever. Hence it is quite certain that the broker is having some sort of data gap issue, am I correct to use that as an argument, as this shows that my connection is fine and their claim that there was no issue with the server is invalid.
  • #14
  • Jul 6, 2013 9:42am Jul 6, 2013 9:42am
Quoting cloudstr1f3r
{quote} Hi whitehorse, I want your opinion on this though. For MT4, if there is no connection, it would say "No connection" instead of being remained connected without a response from the sever. Hence it is quite certain that the broker is having some sort of data gap issue, am I correct to use that as an argument, as this shows that my connection is fine and their claim that there was no issue with the server is invalid.
if you have a screenshot which shows "connected" it can be used as an arguement.
been there done that, Good Bye
  • #15
  • Jul 6, 2013 9:43am Jul 6, 2013 9:43am
Quoting WhiteHorse
{quote} if you have a screenshot which shows "connected" it can be used as an arguement.

Yes the screenshot said it is connected with a very clear 1 minute difference from my PC time and the Marketwatch time, so as that tick charts were halted and it could easily be crossed checked that at what time of that day appearing on my PC computer, what price the pair should actually be at.
  • #16
  • Jul 6, 2013 9:46am Jul 6, 2013 9:46am
Quoting cloudstr1f3r
{quote} Yes the screenshot said it is connected with a very clear 1 minute difference from my PC time and the Marketwatch time, so as that tick charts were halted and it could easily be crossed checked that at what time of that day appearing on my PC computer, what price the pair should actually be at.
very good, it will definately make your case strong.
been there done that, Good Bye
  • #17
  • Jul 6, 2013 10:32am Jul 6, 2013 10:32am
Quoting WhiteHorse
{quote} very good, it will definately make your case strong.

They were arguing that I was not showing the time on all the pairs through the time function on the list, but under such circumstance, fist and foremost I am definitely cannot just do everything I can as a client to show that you are wrong, because what I am presenting is clear cut enough to show that there's an issue.

Two things here: Data gap and also negligence from the support team, both bad enough and should in someway be classified as a breach of agreement.
  • #18
  • Jul 6, 2013 10:06pm Jul 6, 2013 10:06pm
Quoting cloudstr1f3r
{quote} They were arguing that I was not showing the time on all the pairs through the time function on the list, but under such circumstance, fist and foremost I am definitely cannot just do everything I can as a client to show that you are wrong, because what I am presenting is clear cut enough to show that there's an issue. Two things here: Data gap and also negligence from the support team, both bad enough and should in someway be classified as a breach of agreement.
you wont be able to fight alone with brokers, coz they already have law cells and advocates who have different ways to save brokers, u will need some professional lawyer to fight.
been there done that, Good Bye
  • #19
  • Last Post: Jul 7, 2013 9:28am Jul 7, 2013 9:28am
Quoting WhiteHorse
{quote} you wont be able to fight alone with brokers, coz they already have law cells and advocates who have different ways to save brokers, u will need some professional lawyer to fight.

Well two things, data gap and negligence. Pretty clear what's going on here
0 traders viewing now