Do you find anything wrong with this trade?

[iLLuSi0N]

I am new to FPS but have been trading for a while now. However I never experienced a trade not closing at a defined stop loss before. I am used to trading with Exness but am new to Fxpro and it seems there system is a lot slower than others. Fxpro says everything is as it should be, I feel differently. Any guidance would be appreciated.



Difference of 15 pips between s/l and the price the trade closed at.

 

[Pharaoh]

15.4 pips slippage. That's a bit on the brutal site. Was there a big news release causing a massive move on the USDJPY at the time? If so, this sort of thing can happen. On the other hand, if markers were reasonably calm, your broker has some explaining to do.

 

[iLLuSi0N]

It was US Home sales and Bernanke News. Is this common with all the brokers and why doesn't this happen with t/p?

 

[Pharaoh]

Whether it's Murphy's law or else broker manipulation, it often seems that slippage is only against the trader.

 

[iLLuSi0N]

Yup!

Thank you for your replies, appreciate the input.

 

[Whitesnake]

1 or 3 pips slippage is acceptable but this is something more than that. Better to search for the brokers with no or less slippage than trading with such huge slippage.

 

[Rambo35]

I think the slippage is ridiculous. Something must have gone wrong. I am surprised it happened with fxpro. I have considered them as my ecn broker since my current broker paxforex does not offer ecn accounts yet. have you asked their support what happened?

 

[iLLuSi0N]

I think the slippage is ridiculous. Something must have gone wrong. I am surprised it happened with fxpro. I have considered them as my ecn broker since my current broker paxforex does not offer ecn accounts yet. have you asked their support what happened?

Yes I did contact them and they blamed volatility at that time due to the news release. I blame it on their slow servers/system which took time to execute the trade. The following was their reply.

"
Thank you for your email.

Please note that at the time of the trade executions, at 5pm server time, the Existing Home Sales and Fed Chairman Bernanke Testifies News was released.

This caused the USD pairs prices to drop sharply downwards, and as a result, you received the best price available at that time from the banks.

This can occur at times of high volatility when the prices are moving very fast.

Please note that FxPro is an 'Agency Model' type broker, which means that we execute Stop orders directly in the market, at the VWAP price (Volume Weighted Average Price).

With us you will always receive the best available prices in the market with the liquidity available.

Please see the relevant Order Execution policies for MT4:

Stop Loss: this is an order to minimise losses. Once the market reaches the ‘stop loss price’ the order is triggered and treated as a ‘market order’*. If the ‘stop loss’ is not triggered it shall remain in the system until a later date. In terms of CFDs on FX, spot metals and futures ‘stop loss’ should be placed a minimum number of pips away from the current market price; for further information please see MT4 Trading Conditions.

*Market Order: this is an order to buy or sell at the current market price that is available. The system automatically aggregates the volume received from third party liquidity providers and executes the ‘market order’ at VWAP (‘Volume-Weighted Average Price’) that is the average and best available price at the time of the execution. Once the ‘market order’ is triggered it shall be subject to the conditions described in the ‘Good till Cancel’ section.

If you have further queries regarding your orders, you may like to email our Execution Desk directly dealing@fxpro.com

Kind Regards,

Lianna

FxPro Customer Service Manager
"

 

[Pharaoh]

If Bernake's mouth is open, it's best to not have any open positions.

 

[iLLuSi0N]

If Bernake's mouth is open, it's best to not have any open positions.

Well said, I have learned my lesson.