raymonrrk
Recruit
- Messages
- 5
Last Friday I did open a (market order) trade on NATGAS but what happened is that the trade got filled (and closed) at a totally different price a with a spread of 99 pips instead of the 15 pips that it should have been.
My trade should have got filled at the following conditions:
sell 4.932 <> buy 4.947
spread: 15
Instead, my trade got instantly filled at these conditions (which is nowhere to be seen):
sell 4.889 <> buy 4.988
spread: 99
As a result of this my trade got closed out instantly, leaving me with a loss. I asked FXPRO for an explanation and they basically told me my order was openend and closed at the VWAP (Volume Weighted Average Price), instead of the current market price.
''In conclusion, your order received VWAP due to high volume and market volatility, hence the negative slippage received from the Top of the Book Ask/Bid Price.''
So basically every time when high volume and market volatility occurs I should just pray that my market order doesn't get filled at the VWAP price instead of the current market price? What kind of scam is this?
They state:
''Volatility causing widening of the spreads due to the thin Liquidity available in the market is expected before the closing of the market, especially before the Major Holiday''
That's great but the spread did not increase before/during/after my order and kept showing 15. Once you open your order your trade is executed at the VWAP price which you cannot see anywhere. They basically lure you into a trap since the spread does not change before/during/after your order and stays at 15.
My trade should have got filled at the following conditions:
sell 4.932 <> buy 4.947
spread: 15
Instead, my trade got instantly filled at these conditions (which is nowhere to be seen):
sell 4.889 <> buy 4.988
spread: 99
As a result of this my trade got closed out instantly, leaving me with a loss. I asked FXPRO for an explanation and they basically told me my order was openend and closed at the VWAP (Volume Weighted Average Price), instead of the current market price.
''In conclusion, your order received VWAP due to high volume and market volatility, hence the negative slippage received from the Top of the Book Ask/Bid Price.''
So basically every time when high volume and market volatility occurs I should just pray that my market order doesn't get filled at the VWAP price instead of the current market price? What kind of scam is this?
They state:
''Volatility causing widening of the spreads due to the thin Liquidity available in the market is expected before the closing of the market, especially before the Major Holiday''
That's great but the spread did not increase before/during/after my order and kept showing 15. Once you open your order your trade is executed at the VWAP price which you cannot see anywhere. They basically lure you into a trap since the spread does not change before/during/after your order and stays at 15.
