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Execution of trades with about 19 pips difference on octafx

Discussion in 'Scam Alerts' started by hmk20009, May 8, 2019.

  1. hmk20009

    hmk20009 Private

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    I was watching the Eur USD pair when trading was opened on monday and also i checked option ot show
    bid and ask both lines on chart. Today when markets started in market watch spread was 3.8 pips.
    Todays EUR USD starting price is 1.11731 +3.8 pips = ask price 1.11769.
    i checked with tickmill, pepperstone and mexgroups, all these brokers have asking price below 1.1178 at that time.

    So please check asking price yourself at that time and compensate my account for difference of price.


    On monday whole day there is only movement of about 30 pips and with such movement my trades opened with difference of about 19 pips. Does it make sense?
     
  2. FxMaster

    FxMaster Lt. Colonel

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    @OctaFX Rep, Can we have your attention here, please?
     
  3. OctaFX Rep

    OctaFX Rep octafx.com Representative

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    Dear hmk20009,

    Thank you for reaching out to us. Our team is aware of you complaint and we wish to respond accordingly. As you specified your pending orders were triggered with the market's opening. As a trader you probably know that the beginning of a new trading week can be highly volatile and this can cause the spread to be widened significantly. As for comparing prices with other brokers, you ought to keep in mind that all brokers are using different providers therefore, such differences are to be expected.

    Our Trade Compliance Department investigated your complaint thoroughly and didn't find any execution errors.

    We hope that this clarifies your concerns, but if you may have any other questions or need a follow up please, do not hesitate to contact us.

    Kind regards,
    OctaFX Rep.
     
  4. hmk20009

    hmk20009 Private

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    1.i know spreads can be wide when trading opens on monday.


    2. At that time i was watching spreads in your mt4 terminal in market watch. (spread was 3.8 pips that time which is quite wide in comparison to 0.8 pip spread)

    3. On every money trading and pricing starts on 00.05 ( i can provide proof of that trading starts on 00.05) But trades were executed on 00.04

    4. As i have talked with livechat on octafx.com, i was told that before trading or pricing starts, trades wouldn't be executed.

    So i have 2 very reasonable and logical questions for you
    1. trades executed on wrong price
    2. trades were executed on 00.04, at that time according to octafx mt4 trading wasn't opened and also according to your livechat operator trading wasn't opened that time. So how trades got executed when trading was closed.
     
  5. 4evermaat

    4evermaat Sergeant Major

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    Screen recording is really the best way to gather evidence in cases like this.
     
  6. hmk20009

    hmk20009 Private

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    tades opened on 00.04.png clearly shows trades were executed on 00.04
    chat with octafx.png clearly shows trades can't be executed on 00.04(as in octafx on monday trading starts on 00.05)
    octafx execution on wrong price.png clearly shows that trading started on 00.05 in octafx mt4

    These screenshots show that
    1. Trades executed on wrong price
    2. trades were executed on 00.04, at that time according to octafx mt4 trading wasn't opened and also according to your livechat operator trading wasn't opened that time. So how trades got executed when trading was closed.
     

    Attached Files:

  7. OctaFX Rep

    OctaFX Rep octafx.com Representative

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    Dear hmk20009,

    Thank you for your response. Please allow the time for our team to look into it and we'll get back to you as soon as possible.

    Kind regards,
    OctaFX Rep.
     
  8. OctaFX Rep

    OctaFX Rep octafx.com Representative

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    Dear hmk20009,

    Firstly, we’d like to start off by saying that we’re glad we were able to address your previous post to your understanding. As for your new replies we looked over them with our team and would like to point to one issue in question.

    When referring to the opening time and price you looked to a log file as opposed to your account history. Your trade was not executed at 04:00. And it was executed at the actual price set on your pending order.

    Here’s why and what you need to know. Logs represent commands of the terminal to the server. They record all data that the terminal sends to the server, and that’s what you’re seeing on the screenshot you provided. Your terminal sent a command to the server at 00:04 for a trade to be opened and executed at 1.11928 as soon as it becomes available on the market, once it opens.

    Account history is where you should be looking if you’d like to know the time and the price at which your trade was opened. Also, please remember that logs are available to traders only. Brokers do not have any insights into your logs. That’s why the our operators kept referring to 00:05 because that’s the time at which your trade was opened according to your Account history and our system, which you can also see on the screenshot you provided. If you’d like to know the exact time at which your trade was open, it was 00:05:01 server time, as per your buy limit pending order at 1.11928.

    As for the spread, we'd like to remind you what we said in our earlier post, that at the beginning of the trading week spread is usually widened significantly due to high volatility in the marketplace.

    And since buy limit orders are opened at Ask price, at 00:05 Ask price easily reached 1.11928.

    We hope this clarifies everything for you. Feel free to contact us if you may have any more questions.

    Kind regards,
    OctaFX Rep
     
  9. hmk20009

    hmk20009 Private

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    Buy limit / pending orders were placed on friday not on monday. means on monday pending orders were already present on mt4 server. When orders are present on mt4 server, trades are opened by mt4 server directly (no need for mt4 terminal to send request).
    Here how mt4 terminal sends request at a time when trading is closed, as requests are cancelled if trading is closed.

    on monday at 00.05 when market opened spread was 3.8 pips not 19 pips.

    I have already provided enough evidence that trades were opened on wrong price and also trades were opened at time when trading closed.
     
  10. 4evermaat

    4evermaat Sergeant Major

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    I do agree with @hmk20009. The screenshot does show enough to show that execution occurred BEFORE 00:05:00 when the market should have been closed. Why did execution occur before the market opened?

    although hopefully OP will upload a better screenshot to make columns clearer.

    ---

    And I always recommend to people to not use broker-rested stops/tp. You are just asking to be manipulated (spiked, frontrunning, stop-hunted, asymmetric slippage, etc). It doesn't make the manipulation correct, but it is easier to manage either manually or using an EA to virtually manage the TP/SL.

    and combined with using a true a-book broker your problems are virtually non-existent.
     

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