Huge slippage 30 pips (Pepperstone) | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Pepperstone's horrible Slippage 11 replies

Pepperstone AU accounts being moved to Pepperstone UK 0 replies

Huge slippage on a trade 18 replies

Huge positive slippage 5 replies

Huge slippage Thursday morning on EURUSD?? 30 replies

Attachments: Huge slippage 30 pips (Pepperstone)
Exit Attachments

Huge slippage 30 pips (Pepperstone)

  • #1
  • First Post: Oct 22, 2013 8:24am Oct 22, 2013 8:24am
I already send a case to them to investigate, let's see how they solve my case. ASIC regulate
If they can't solve it, i will open a case and send it to ASIC
Attached Image (click to enlarge)
Click to Enlarge Name: 22-10-2013 7-50-00 CH.png Size: 15 KB
  • #2
  • Oct 22, 2013 9:21am Oct 22, 2013 9:21am
It's ok. It was NF data and quite big movement. You had stop order which was executed at market price. Maybe it could be executed bit better but nobody garanted you execution at requested level on such news and market conditions. If you want to trade on ECN account and don't want conflict of interest be ready to pay for it. But in DD execution could be even worse. Nothing wrong with your broker and no need to complain.
  • #3
  • Oct 22, 2013 9:45am Oct 22, 2013 9:45am
"open a case" about a $13 loss? lol
  • #4
  • Oct 22, 2013 9:53am Oct 22, 2013 9:53am
It's not about 13$, it's about how good to execute a trade.
I don't know, my type of account is razor (ECN), under around 10 pips is ok, but 30 pips is too much
  • #5
  • Oct 22, 2013 10:02am Oct 22, 2013 10:02am
30pips can happen !! its casual!
"Know what you own, and know why you own it" — Peter Lynch
  • #6
  • Oct 22, 2013 11:13am Oct 22, 2013 11:13am
Its maybe not causual, but its certainly not unexpected during the initial NFP news spike.. there have been worse fills at nfp.
  • #7
  • Oct 22, 2013 1:47pm Oct 22, 2013 1:47pm
Quoting love.l0ve
I already send a case to them to investigate, let's see how they solve my case. ASIC regulate If they can't solve it, i will open a case and send it to ASIC {image}
Why you wanna get in touch with ASIC when you don't have an idea what a SL is? Does not sound like a good plan to me.

What happened to you is normal, becuase a SL is a MARKET order no a limit order. In fast moving markets, there is absolutely no guarantee that the SL will be hit at the entered price. Theoretically you could suffer a 200 pip slippage, this is not a Pepperstone thing it's normal.

What's even worse is that you bash pepperstone here with your incompetence.
Forex is a losers game.
  • #8
  • Oct 22, 2013 9:21pm Oct 22, 2013 9:21pm
Yes i know what SL is, but around 10 pips is ok, 30 pips is unacceptable
I don't trade news, just in case i always put SL to minimize my loss. But huge slippage can't work it out
Slip 30 pips mean their liq is not good. I know some broker also pass stop, limit order direct to the bank so the order can enter exact a price they want and a little slippage if it happen, so do SL and TP

This is prove how reliable they are when this happen, right?
  • #9
  • Oct 22, 2013 10:43pm Oct 22, 2013 10:43pm
Here what they said

Thank you for your email and trade inquiry.

At 15:30, exactly when your trade was closed, there was a release regarding non-farm payrolls out of the US. This release is the biggest news announcement for the currency markets on a monthly basis and is notorious for causing large spikes and gaps in pricing. We have investigated the tick data and it shows that there was a gap from one tick to the next that caused the slippage.

Pepperstone is a 'Market Execution' broker and as such we are at the mercy of the market when orders are sent to be filled. This is one of the realities of ECN trading in Forex - Slippage can happen when there is not enough liquidity at the requested price to fill your order so the bank fills at the next best available price.

What has happened is your stop loss order was triggered according to your original price and a request was sent to our server - unfortunately by the time the order arrived at the banks the price you requested was not available due to the market moving so fast and the trade was then closed at the next best available price. So your trade was closed however there was slippage due to the extremely fast moving market. Please bear in mind that stop loss and take profits are not placed in the spread and are subject to market movements to when the price requested is hit.

These prices have been verified by our liquidity providers and therefore we cannot compensate for this slippage.
  • #10
  • Edited 6:56am Oct 23, 2013 12:00am | Edited 6:56am
as shrike said ... its common ... bad fills and slipagge in high volatile market ... i suffer 24 Pips slippage on CADJPOY trade at NFP ... its common
"Know what you own, and know why you own it" — Peter Lynch
  • #11
  • Oct 23, 2013 12:40am Oct 23, 2013 12:40am
Quoting love.l0ve
Yes i know what SL is, but around 10 pips is ok, 30 pips is unacceptable....
There is no limits... depends on market. It can be much more.
  • #12
  • Oct 23, 2013 4:12am Oct 23, 2013 4:12am
Here is FXCM case in the past
http://forexmagnates.com/nfa-fines-f...-clients-back/

For Immediate Release
August 12, 2011

For more information contact:
Larry Dyekman (312) 781-1372, [email protected]
Karen Wuertz (312) 781-1335, [email protected]

NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to customers

August 12, Chicago - National Futures Association (NFA) has issued a Decision imposing a $2,000,000 monetary sanction against Forex Capital Markets LLC (FXCM) in settlement of a Complaint issued by NFA's Business Conduct Committee on August 12, 2011. The Complaint cited FXCM for retaining gains derived from asymmetrical positive price slippage; failing to adopt or carry out adequate procedures to ensure the efficient execution of all customer orders; failing to treat all customers equally when giving price adjustments; failing to adequately investigate suspicious activity in several customers' accounts; and - together with its principal Dror Niv - failing to supervise. FXCM is a Futures Commission Merchant, Retail Foreign Exchange Dealer, and Forex Dealer Member located in New York, New York.

In addition to the $2,000,000 monetary sanction, FXCM must credit the accounts of its customers the amount of asymmetrical positive slippage which its customers experienced on their trades from and after June 18, 2008 and provide verification to NFA of these credits. In the future, FXCM is prohibited from engaging in price slippage or margin liquidation practices, as described in the Complaint. FXCM must also enhance existing procedures to ensure efficient execution of customer orders and compliance with NFA's anti-money laundering requirements.

The complete text of the Complaint and Decision can be found on NFA's website (www.nfa.futures.org).

NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.
  • #13
  • Oct 23, 2013 4:27am Oct 23, 2013 4:27am
You can try your luck but if market is moving it's moving and your broker can do nothing with it. Only give your first market price. In your case it was a gap. it's nobody fault. Forex is risky and you should understand it. You are not right in this compain. You accepted this risk. Stop order is not a garantee what your order will be executed at requested price.
  • #14
  • Oct 23, 2013 5:51am Oct 23, 2013 5:51am
You want them to open a case of what you term slippage in a fast moving market at the time a high impact news event was published which delivered an outlier result? What's more you lost $13? Glad I'm not working in retail having to put up with fools like you all day. Note to self, don't try and trade nfp, its a crap shoot, even if you are the right side of the bet you may still end up losing.


Quoting love.l0ve
I already send a case to them to investigate, let's see how they solve my case. ASIC regulate If they can't solve it, i will open a case and send it to ASIC {image}
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #15
  • Oct 23, 2013 5:52am Oct 23, 2013 5:52am
The right reply. Learn your lesson and move on


Quoting love.l0ve
Here what they said Thank you for your email and trade inquiry. At 15:30, exactly when your trade was closed, there was a release regarding non-farm payrolls out of the US. This release is the biggest news announcement for the currency markets on a monthly basis and is notorious for causing large spikes and gaps in pricing. We have investigated the tick data and it shows that there was a gap from one tick to the next that caused the slippage. Pepperstone is a 'Market Execution' broker and as such we are at the mercy of the market when orders are...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #16
  • Oct 23, 2013 6:01am Oct 23, 2013 6:01am
you have no case now move on, shit happens
  • #17
  • Oct 23, 2013 6:38am Oct 23, 2013 6:38am
Quoting PoundTrader
you have no case now move on, shit happens
This sort of thread would make sense in 2007 when retail FX took off. But if your that stupid complaining around NFP slippage in this day and age you just shouldn't be trading. Up there with the dumbest thing I've seen on FF and that is saying something.
  • #18
  • Oct 23, 2013 6:51am Oct 23, 2013 6:51am
Quoting love.l0ve
Here is FXCM case in the past http://forexmagnates.com/nfa-fines-f...-clients-back/ For Immediate Release August 12, 2011 For more information contact: Larry Dyekman (312) 781-1372, [email protected] Karen Wuertz (312) 781-1335, [email protected] NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to customers August 12, Chicago - National Futures Association (NFA) has...
Your case and this case is very different
Quote
FXCM US originally enhanced its trading execution policy in August 2010 to help ensure that clients benefit from positive slippage on all market, limit and limit entry orders.

where there client effected by negative slip ..you are telling something and happening something else ... thats can't be tolerated.. in your case there was a " GAP " ... and pepperstone dosn't offer positive slippage type things..i am not telling your broker is 100% honest .. no broker is 100% honest as i said earlier i face same spread widening with deltastock @ cadjpy(24pips spread) .on nfp .. i was careful with my stoploss.. thats it.

if your heart saying thats can't be tolerated then consult with your attorney first before file a case ... as filling a case is not like changing a defective lollypop .. if you found guilty your broker can also file smear case on you.
"Know what you own, and know why you own it" — Peter Lynch
  • #19
  • Oct 23, 2013 6:52am Oct 23, 2013 6:52am
I never trade news, news trade me )
I note that when i place limit order it always hit exact a price i want, but when i put stop order always have slippage
Yes sometime i have positive slippage but it just 1-2 pips, negative slippage is 3-30 pips
Nevermind, i will send it to ASIC, it's not about 13$. I want them to improve so i can trade with reliable broker
  • #20
  • Oct 23, 2013 7:08am Oct 23, 2013 7:08am
Quoting love.l0ve
I never trade news, news trade me ) I note that when i place limit order it always hit exact a price i want, but when i put stop order always have slippage Yes sometime i have positive slippage but it just 1-2 pips, negative slippage is 3-30 pips Nevermind, i will send it to ASIC, it's not about 13$. I want them to improve so i can trade with reliable broker
Than also don't forget to complain that price is usually going in opposite direction once you are doing something....
You should improve yourself first, at least you need to understand how market order work. Read again all posts above. Everybody told you what is nothing wrong with broker and you won't find company who ready to execute your order at requested price in this market condition...
0 traders viewing now