I have an account with IBFX and place six to eight orders (pending) occasionally. I had one trade where it was a BUY with an entry of 2.0002 and a S/L of 1.9990 and T/P of 2.0090. I reconciled my orders to discover that the S/L was triggered and my money was deducted from my account. Here's the problem THE ENTRY ORDER OF 2.0002 was NEVER hit! I called and was told that the ask/buy spread of 4 pips triggered the order and when it reversed I stopped out. I think that's BULL! If the ENTRY ORDER was never hit how does the Ask/Buy spread even apply to an inactive order??? I appreciate your response to this as I feel 'They' adjust the spread to suit themselves. What good is an entry order if they see an order with huge money and they can get it active by playing with the spread!!! What do you think?
FxTender - Entry NOT HIT?
- Thread starter fxtender
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Pharaoh
Brigadier General
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Sounds like a standard stupid broker trick to me. Unfortunately, having a 12 pip stoploss on a pair with a 4 pip spread is just begging them to nail you. Even if the spread doesn't widen, you start the order only 8 pips from the stoploss and market volatility will get you a lot of the time even if the broker doesn't.
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