Jafar wrote:
>It applies to stops as well since they also appear as an order on the market.
I have checked with other brokers and this is definitely not the case. The normal quote ASK price never did touch the BUY STOP price on the normal quote. After checking with 2 brokers, both have given the same answer which imply that STOP order does not check level2 quotes, it only check normal quote as I have pasted the reply from Dukascopy and Pepperstone above and I am pasting again below.
From you answer I am inclined to think that FXOpen ECN system does not behave in the same way as other brokers'. I am also starting to believe that FXOpen ECN system is not behaving in a fair and transparent manner in accordance with the GENERAL ECN model.
You have given your answer for only #1 above. Question #2 is still unanswered.
Here is the answer from Dukascopy, I am pasting again:
You place BUY stop to BUY EURUSD at 1.12400 with trigger on ASK rate (current ASK rate 1.12335)
The execution will be released when market quote for ASK price is 1.12400 or higher
In the situation where we may have the ASK price at 1.12399 but also revceive quotes at 1.12400 and 1.12402 will NOT trigger the order.
>It applies to stops as well since they also appear as an order on the market.
I have checked with other brokers and this is definitely not the case. The normal quote ASK price never did touch the BUY STOP price on the normal quote. After checking with 2 brokers, both have given the same answer which imply that STOP order does not check level2 quotes, it only check normal quote as I have pasted the reply from Dukascopy and Pepperstone above and I am pasting again below.
From you answer I am inclined to think that FXOpen ECN system does not behave in the same way as other brokers'. I am also starting to believe that FXOpen ECN system is not behaving in a fair and transparent manner in accordance with the GENERAL ECN model.
You have given your answer for only #1 above. Question #2 is still unanswered.
Here is the answer from Dukascopy, I am pasting again:
You place BUY stop to BUY EURUSD at 1.12400 with trigger on ASK rate (current ASK rate 1.12335)
The execution will be released when market quote for ASK price is 1.12400 or higher
In the situation where we may have the ASK price at 1.12399 but also revceive quotes at 1.12400 and 1.12402 will NOT trigger the order.