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Price Discrepancy @marketiva!

Discussion in 'Scam Alerts' started by edo, Jun 18, 2009.

  1. edo

    edo Private

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    I trade live forex today 18-06-09..9.40 AM hong kong time... NZD/USD .
    the quantity was 1000... the enter price was 0.6324 ..i set my TP @0.6296 ..and the lowest at that time was 0.6297 (1 PIPS ABOVE MY TP) <===1.30PM
    and then after that the price bounce back...and it hit my SL

    THIS IS THE INTERESTING PART...i checked the lowest at that time from another chart (mt4 platform) ...and the lowest was 0.6292(which means I SHOULD WIN ! )

    coincidence ??????????
    is this a scam????
    only 1 pips above my TP?????????

    could someone here help me??please..i willbe really GRATEFULL if someone can help me :(
     
    #1 edo, Jun 18, 2009
    Last edited: Jun 18, 2009
  2. ernest8fingers

    ernest8fingers Master Sergeant

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    welcome to Forex

    I can only relate my experiences(dont know if it will help?). If you are generally happy with your Broker I would "forget about it". If this is the 97th time its happened-BAIL OUT NOW! No two Brokers offer the exact same price(even 2 accounts with same Broker have price difference). If you trust you are not being screwed-grin and bear it!
     
  3. edo

    edo Private

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    it should hit my TP yesterday !
    but instead of hit my TP (only 1 pips above) ...the price bounce back and hit my SL
    0.6297 the lowest at marketiva
    0.6292 the lowest @mt4 platform

    i should've won !!!!!!!
     
  4. edo

    edo Private

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    this is the reply from them after i mailed them

    Thank you for contacting our team and for your interest in Marketiva.

    The lowest price was 0.6297. Our Forex rates are based on current average
    interbank trading activity. Each instrument has bid price (for you to
    sell), offer price (for you to buy), last price (average of bid and offer),
    change from daily open price, highest and lowest daily prices and price
    update time-stamp.

    Your target was not hit by the market. Please note if your position was
    short (sell), the target order will be executed only when the offer (ask)
    price hits your target price :)

    > --- On Thu, 6/18/09, Marketiva Support <support-zsolt@marketiva.com>
    > wrote:
    >
    > From: Marketiva Support <support-zsolt@marketiva.com>
    > Subject: Re: (GENERAL) PRICE DISCREPANCY
    > To: "Lim Chung Ho" <worldclass_Strikerr@yahoo.com>
    > Date: Thursday, June 18, 2009, 7:58 AM
    >
    > Dear Lim Chung,
    >
    > Thank you for contacting our team and for your interest in Marketiva.
    >
    > Our Forex rates are based on current average interbank trading
    > activity.
    > Each instrument has bid price (for you to sell), offer price (for you
    > to
    > buy), last price (average of bid and offer), change from daily open
    > price,
    > highest and lowest daily prices and price update time-stamp.
    >
    > What is the position ID, please?
    >
    > > I trade live forex today NZD/USD .the quantity was 1000.the enter
    > > price was 0.6324 ..i set my TP @0.6296 ..and the lowest at that time
    > > was 0.6297 (1 PIPS ABOVE MY TP)
    > > and then after that the price bounce back...and it hit my SL
    > > THIS IS THE INTERESTING PART...i checked the lowest at that time
    > > from another chart (mt4 platform) ...and the lowest was 0.6292
    > >
    > >
    > >
    > >
    > >
    >
    > Please do not hesitate to contact us for any additional information.
    >
     
  5. ernest8fingers

    ernest8fingers Master Sergeant

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    i love hating brokers

    I would love to pave the roads with defunked Brokers-but your problems do not cry "I am being screwed!" at least not yet. The price the offered you on your platform may have indeed been their actual price(their liquidity provider gives them a price-they tac on fixed Spread amount and then serve it up to u) If u want to see your account being screwed , open an account with FXCM on their MT4 version. You wont wait long.
     
  6. Sigmund

    Sigmund Recruit

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    me too!

    Hi Edo,
    I experienced the same thing you are talking about on marketiva. That was sometime last year. It is one of the 2 brokers I'm using. And I must say that I believe that the explanation then gave is a valid one. It doesnt happen often; infact this is the first time I've heard another person complain of the same problem. I think no broker is perfect and on the whole I am generally satisfied with their service for now.
     
  7. edo

    edo Private

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    yeah u are satisfied ..you have only one post and say something good about marketiva

    i smell somethin fishy here
     
  8. clem699

    clem699 Sergeant

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    Marketiva And Edo

    Dear Mr Edo,i actually read ur issue today and i think what other FPA members said is true.Brokers prices vary from one another and if u had compared the broker's platform with other brokers on demo before opening real,u would have discovered the price difference.

    One way to deal with this type of issue is to use another broker's platform whose price is regular market price to decide ur trade.Simply,get the difference
    between ur broker's price and that of the other.Enter ur trade based on the difference in price.For instance,there is usually a difference of 3pips on eur/usd and gbp/usd on liteforex platform vs Alpri/FXDD nd IBFX.

    I hope my explanation makes sense to u.
     

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