As you can see from the charts, this caused catastrophic losses.
There was no warning that they were going into rollover at 22:45 UTC. (time in the MT4 charts is UTC -3). Their rollover lasted 2 hours and 15 minutes, resuming at 01:00, and executed my stop 1300 lower than where I'd set it. This wiped out ~3/4 of my account.
I'd had this problem before, and wrote to customer service about it. According to them, "the trades were executed properly" (transcript below):
[ticket: 13568406]Dear John Jensen,
Ticket #: 13568406
Subject: stop loss not honored
Status: Closed
Solution:
2019-06-18 11:21:15
Dear John,
Thank you for contacting FXChoice.
Please note that we offer derivative trading instruments for cryptocurrencies, and not the underlying assets on a cryptocurrency exchange as stated on our website:
https://en.myfxchoice.com/trading/cryptocurrencies
The trading execution rules, as well as the specification of CFD derivatives, may differ from those of the underlying instruments traded on a crypto-exchange. We have published the specifications of these trading instruments on the above page of our website, so we assume that when a customer places a trade on one of these CFD instruments, they have already read, understood and agreed with the execution rules and the specifications of the instrument (including the trading hours).
We confirm that the trades in question have been correctly processed, according to the published execution rules that we have published on our website.
https://en.myfxchoice.com/faq/execution-rules/#8
"...
Execution of orders
Buy Limit, Buy Stop, Stop Loss and Take Profit for opened short position are executed at the ASK price.
Sell Limit, Sell Stop, Stop Loss and Take Profit for opened long position are executed at the BID price.
*Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit and Sell Stop are executed at the requested price, however under certain trading conditions it may be impossible to execute the above at the requested price and FXChoice has the right to execute them at the next best price. In case of market execution mode this situation is commonly referred to as slippage and it can be both positive or negative for all order types.
..."
We confirm that the mentioned orders has been properly processed to the market, thus cannot be reversed. We thank you for your understanding.
If you have any further questions, it would be our pleasure to assist you. Thank you again for choosing FXChoice.
Kind regards,
FXChoice Customer Service
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