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FXOpen arbitrarily delete my order

Discussion in 'Scam Alerts' started by vincentius, Oct 4, 2010.

  1. vincentius

    vincentius Recruit

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    I have a pending order that has been in execution, removed by the dealer FXOpen for reasons which I think is not clear.

    263 846 09.21.2010 13:59 buy stop 2:00 USDCAD 1.02900 1.02750 0.00000 2010.09.21 14:00 1.03090 canceled by dealer

    you can see, that the deletion occurs when the price has gone through buy-stops, 1.02900 is 1.03090, in my opinion the elimination of too brave and speculation of dealers

    and this is the account that is in FXOpen ECN, which in the promotion allowed scalping etc.


    (bener ngak ya yg diatas saya pake translator)

    FXOpen seenaknya menghapus order saya

    saya mempunyai pending order yang seharusnya telah di eksekusi, dihapus oleh dealer fxopen dengan alasan yang menurut saya tidak jelas.

    263846 2010.09.21 13:59 buy stop 2.00 usdcad 1.02900 1.02750 0.00000 2010.09.21 14:00 1.03090 cancelled by dealer

    anda bisa melihat, bahwa penghapusan terjadi ketika harga telah melewati buy stop, 1.02900 adalah 1.03090, menurut saya penghapusan terlalu berani dan spekulasi dari dealer

    dan ini adalah account ECN yang ada di fxopen, yang dalam promosinya diperbolehkan scalping dll.
     
  2. fxfrench

    fxfrench FXOpen AU Representative

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    Hi

    That usually occurs when there is not enough margin for the trade to open. Without much detail given here it's impossible to speculate exactly why. Send me your account number and I'll get you a more detailed explanation.
     
  3. fxfrench

    fxfrench FXOpen AU Representative

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    Ok, I have spoken to our dealing department. At that time there was a huge gap in the best bid/ask price in the market. As is common with major news releases, liquidity dried up all of a sudden. If we were to fill the order, we would have been left with a situation where we would have to open the order more than 100 pips against you due to the large difference between best bid/ask prices.

    Rather than give you a big loss like that, the order was deleted. I hope you understand that the action was taken in your best interests.
     
  4. vincentius

    vincentius Recruit

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    Thank you respond quickly

    I do not see that the removal was for the good of me, which I know that with the abolition of that I feel aggrieved, I prefer my any loss that occurred at that time due to the rules within the system that FXOpen apply. frankly I feel cheated by you to do the removal. because not only FXOpen who are implementing the system alone, where the price of our orders are not necessarily attached to the exercise price if the high price gap, and I think such a system is not fair, if the pending orders we have been approved.

    and one more thing, I expected exactly that time a very large price gap caused by the news released.

    (aslinya)
    Terimakasih anda meresponnya secara cepat

    Saya tidak melihat bahwa penghapusan tersebut adalah demi kebaikan saya, yang saya tahu bahwasanya dengan penghapusan itu saya merasa dirugikan, saya lebih suka saya rugi apapun yang terjadi pada saat itu yang diakibatkan oleh aturan didalam sistem yang fxopen terapkan. terus terang saya merasa dicurangi dengan anda melakukan penghapusan tersebut. karena bukan hanya fxopen saja yang yang menerapkan sistem, dimana harga pesanan terpasang kita belum tentu menjadi harga eksekusi jika terjadi kesenjangan harga yang tinggi, dan saya rasa sistem seperti itu tidak fair, jika pending order kita telah disetujui.

    dan satu hal lagi, yang saya harapkan waktu itu justru kesenjangan harga yang sangat besar disebabkan oleh berita yang dikeluarkan
     
  5. fxfrench

    fxfrench FXOpen AU Representative

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    Hi Vincentius

    I understand if you feel wronged, but the fact that the order was not filled was most definitely to your advantage. The slippage would have been in excess of 100 pips and your stop loss would have been hit. If you had lost $3000 in this trade, you would have a lot more to complain about.

    Yes, the price often jumps on a major news release, however often so does the bid/ask gap (spread) due to big money removing their liquidity from the market until the result of the news is known. The Bid/Ask spread is dependent on supply and demand. When liquidity is low, the spread can be wide.

    As a piece of general advice, I suggest that trading the news should be done after the release when liquidity has returned to the market not immediately on release when a lack of liquidity can defeat the purpose of taking advantage of the initial jump in price.
     
  6. vincentius

    vincentius Recruit

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    I do not understand the direction your conversation, how could I lose $ 3000, five digits behind the comma is equal to 15 pips in the four digits after the decimal point, times 2 equals $ 300, my count is wrong or what you can not count.

    temporarily canceled I should have got 19 pips in normal (4 digits) or 190 pips of your own.
    and if I've made a stop loss, means I was ready when it hit stop loss, why should worry about.


    saya tidak ngerti arah pembicaraan anda, bagaimana mungkin saya akan rugi $3000, itu lima digit dibelakang koma sama dengan 15 pip di empat digit belakang koma, kali 2 sama dengan $300, saya yg salah menghitung or apa anda yang tidak bisa berhitung.

    sementara waktu di cancel seharusnya saya sudah mendapat 19 pip normal (4 digit) or 190 pip menurut anda.
    dan kalau saya sudah membuat stop loss, berarti saya sudah siap kalau stop loss nya terkena, kenapa harus dikhawatirkan
     
    #6 vincentius, Oct 12, 2010
    Last edited: Oct 22, 2010
  7. vincentius

    vincentius Recruit

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    FPA how do you think about a case like this, I do not see the role or your opinion here, please enlightenment of the FPA
     
    #7 vincentius, Oct 15, 2010
    Last edited: Oct 22, 2010
  8. fufighter

    fufighter Recruit

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    This just happen with me today. Why Fxopen do not take response for this?

    Instead of getting the profit, we got nothing.

    I will close my account now and use some other sensible broker!!!.
     
  9. Laurie Gold

    Laurie Gold Corporal

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    More details

    Hi Foofighter;

    Could you please provide more details about your trade that was deleted, such as the c-pair, time, entry price(s) etc., as well as any reason given for the deletion. Thank you
     
  10. fxfrench

    fxfrench FXOpen AU Representative

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    Did you contact FXOpen about it?

    Can you give me some details of the order so I can investigate and let FPA readers know what happened?
     

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