Hi, I don't want to mention a name yet but been very frustrated at some strange stop loss hits on a trading account that I have since closed (was paid out the balance of my funds). The last time it happened I took a snapshot and it clearly showed a spike up and down in a split second. It was flat before and after stopping me out. I then investigated the price action on six other reputable trading platforms (including Bloomberg) and not one came anywhere near that price!
The brokers response was that there is no central exchange for FX. Therefore there is no benchmark. Bloomberg FX pricing is not even 24hrs.
FX is a market made by liquidity providers (mostly banks). Every provider has their own mash up of liquidity.
Our liquidity comes from 32 global banks (Citi, Deutsche, HSBC etc..)
It is impossible to compare one platform to the next as all providers have different liquidity providers which make up their pool of liquidity and they all have their own spreads.
We have different liquidity for our Mini and major contracts so those cannot be compared either.
The bottom line is that there is no central exchange for FX, therefore it is pointless trying to compare charts or liquidity from one provider to the next.
For whatever reason, at the time where your stop loss triggered the best available Ask price from the 32 banks who feed us pricing was at that level and that is the level that it traded at.
I tried several times to upload a pdf and a jpeg with no luck?
Is it worth taking this matter further?
The brokers response was that there is no central exchange for FX. Therefore there is no benchmark. Bloomberg FX pricing is not even 24hrs.
FX is a market made by liquidity providers (mostly banks). Every provider has their own mash up of liquidity.
Our liquidity comes from 32 global banks (Citi, Deutsche, HSBC etc..)
It is impossible to compare one platform to the next as all providers have different liquidity providers which make up their pool of liquidity and they all have their own spreads.
We have different liquidity for our Mini and major contracts so those cannot be compared either.
The bottom line is that there is no central exchange for FX, therefore it is pointless trying to compare charts or liquidity from one provider to the next.
For whatever reason, at the time where your stop loss triggered the best available Ask price from the 32 banks who feed us pricing was at that level and that is the level that it traded at.
I tried several times to upload a pdf and a jpeg with no luck?
Is it worth taking this matter further?
