Huge slippage on a trade

Here's the order on FXCM, slip 10$/ounce

http://vangsaigon.com/iUpload/images/1031201423.png

And here's the order on IGmarket, stop out exactly my SL

http://vangsaigon.com/iUpload/images/103120nqn.png

And they been fined not long ago

http://forexmagnates.com/breaking-ne...-nfa-breaches/

I think ripping of a client more profit than being fine. So I'm not do bussiness on this b*tch (a**hole) again

who cares about slippage? Regulated bucket shop brokers can take your profit trade legally by the price latency. Any profitable trade of you could be cancelled because their price is diffrent from Dukascoppy

bro slippage happens, some of the biggest ECN's broker have slippage, that fine has nothing to do with your slippage

well slippage happened with me but I profited from it tp at 1772 but closed at 1770 - so come on bro, part of trading

nobody talks about the positive slippage , if the slippage happen because of a bad tick then FXCM would take care of you

The first rule of Positive Slippage is: You do not talk about Positive Slippage.

But why on IG i got no slip?
BTW, my on FXCM is fixed spread, no ECN

this is the 64k question!
slippage do happen...but on a liquid market 10$ silage does not really happen!

just like last time my ECN broker support try to convince me right after FOMC news, that I got off-quote /on ECN/ because of low liquidity!!

what FXCM has to say about this slippage of yours, curious to hear!

Dnt be stupid please.

FXCM is a ECN broker for spot fx.

CFD's contract like XAUUSD are de facto provided by your broker.

means the no ECN one should resulted in fixed price exit level, yet the ECN one should slip because there's no fixed spread on it.
how bout this, a fixed spread a fixed large spread charge, which also bear any "slitpage" on your trade and they have many name for it rather that "slitpage". often it called latency, lagging, delay, gap! you name it.

Wow I never new that FXCM had fixed spread! I think this is a case of the OP not having a clue what he is on about

Due to my reseach, IG pass order direct to market (need margin to do that), FXCM dont need margin to place order, so the order still on FXCM table... when a price reach to the order, you got slip (need time to pass order to the market).

I got 50 order on IG and 2-3 order had tiny slip, despite on FXCM i had many order big slip.

Liquidity FXCM < Liquidity IG.

rings any alarm reading it?
it should!

Execution Disclaimer: When trading Forex on both FXCM's Dealing Desk and No Dealing Desk (NDD) execution models, FXCM is the final counterparty to these transactions. In both execution models FXCM aggregates the bid and ask prices from a pool of liquidity providers. With NDD execution, the quotes that are displayed on FXCM's platforms are the best available direct bid and ask quotes received from liquidity provides. In some circumstances, depending on account type, a markup will be added to the spread. Aside from the spread between bid and ask prices, with NDD execution, the only trading cost is a fixed lot-based commission applied by FXCM at both the open and close of the trade. On the Dealing Desk execution model FXCM can act as the dealer on some or all currency pairs. There are also back up liquidity providers that fill in whenever FXCM does not act as the dealer. Please note that FXCM's Dealing Desk employs fewer liquidity providers than the No Dealing Desk execution option.

FXCM doesn't have a dealing desk anymore and IG are actually Market Maker according to there website like loads of brokers are. So what was your point again?

obviously they DO!
according to their re here they have, for existing clients....bet the OP is an existing client.

From JR on FXCM discussion, today...
''However, with FXCM's recent introduction of new pricing on our No Dealing Desk (NDD) forex execution, we no longer offer the DD option to new clients on our website, since our new pricing offers traders the best of both world with low pricing and NDD execution: http://bit.ly/1shNooZ

That said, we have some existing clients still on DD forex execution, and that's the reason for the disclaimer. ''

you got your point, I hope!

There seems to be a misconception here that liquidity is a constant. That is not the case. For example, EUR/USD is the most liquid financial instrument in the world, but even for that most liquid currency pair, the liquidity will drop during news events, and around 5pm New York Time which marks the end of one trading day and the start of the next.

Keeping that in mind, let's look as this specific case about the market gap on gold (XAU/USD) which occurred at 07:01:44 GMT (and it did all happen in less than one second) this morning. Below are two charts to help illustrate how just quickly the price of gold dropped at that time.

First, below is a 1-minute chart where I've highlighted Love.l0ve's initial stop price (blue horizontal dashed line) and the price where it was filled (red horizontal dashed line). I have also circled the exact points when the stop was triggered (light blue circle) and when it was filled (pink circle). While this 1-minute chart can't show us the level of detail needed to see exactly what happened, it does help put this market gap in the context of where gold was trading before and after it occurred.

click to enlarge

http://i.imgur.com/Wa3eNll.png

Second, below is a tick chart where I've also highlighted Love.l0ve's initial stop price (blue horizontal dashed line) and the price where it was filled (red horizontal dashed line). I have also circled the exact points when the stop was triggered (light blue circle) and when it was filled (pink circle). As you can see this market gap occurred in less than one second at 07:01:44 GMT. Furthermore, the market actually gapped through Love.l0ve's stop as the price dropped $10 from one tick to the next. There was no opportunity to fill the stop at the original price, because the market blew past that price altogether. Therefore, the stop was filled at the best available price at the very next tick which was at 1173.04.

click to enlarge

http://i.imgur.com/E6mbfOa.png

Love.l0ve,

I can appreciate your frustration. No wants to get negative slippage, but it's important to understand that anyone trading in the forex, stock, or futures markets has to be willing to accept the risks that can come with having orders executed during illiquid market conditions such as market gaps. There's no sugar coating this. Slippage is one of these risks. Though it's worth noting that with FXCM, slippage can be either positive or negative. Below are the data from a total of 43,128,901 forex and metals (gold, silver, etc.) trades executed through FXCM over a six month period from August 2013 to January 2014.

1. 73% of all orders had no slippage.
2. 15% of all orders received positive slippage.
3. 12% of all orders received negative slippage.
4. Over 60% of all limit and limit entry orders received positive slippage.
5. 53.32% of all stop and stop entry orders received negative slippage.

Notice that stop orders are more likely to receive negative slippage, while limit orders are more likely to receive positive slippage. That's because of the momentum of price movement when such order types are triggered. Monty505 had a limit order for gold on his FXCM account that received positive slippage during the same market gap that triggered your stop. In fact, he made the post below in the FXCM discussion thread before you started this new thread about your order.

So to summarize, yes, your stops can receive negative slippage with FXCM. The stats above show that 53.32% of all stops receive negative slippage. However, unlike with some other brokers, your limit orders with FXCM can receive positive slippage. Over 60% of all limit and limit entry orders received positive slippage. During the 6 month study mentioned above, FXCM clients benefited from $15.5 million in positive slippage.

Let's contrast that with a broker that says it will execute your stops without any slippage even when their liquidity providers are quoting them a different price. The only way such a broker could do that is if they were taking the market risk on the other side of your orders. If that's the case, such a broker would also likely requote you rather than allow your orders to be filled with positive slippage on your limit orders and market orders. By contrast, there are no requotes with FXCM and our platforms provide traders with tools to minimize negative slippage and maximize positive slippage.

You can read more about the Maximum Deviation feature on our MT4 platform in the following discussions:

1. http://www.forexfactory.com/showthre...11#post7764911
2. http://www.forexfactory.com/showthre...38#post7818138

Hi Profitfarmer,

As you know, I've already responded to your comments in the FXCM discussion thread, but for the benefit of everyone else, I'll post my full response here as well.

In the past FXCM used to offer traders the option of either NDD or DD forex execution. Traders who regularly visit the FXCM discussion thread will know that I've posted about that option many times: http://www.forexfactory.com/showthre...57#post6693557

However, with FXCM's recent introduction of new pricing on our No Dealing Desk (NDD) forex execution, we no longer offer the DD option to new clients on our website, since our new pricing offers traders the best of both world with low pricing and NDD execution: http://bit.ly/1shNooZ

That said, we have some existing clients still on DD forex execution, and that's the reason for the disclaimer.