Resolved: Trade.com executions scam!

Gholis

Recruit
Messages
39
Trade.com cheats with stop loss executions! I've noticed this today, but who knows how many times they've done it before.
I normally trade with bracket orders attached. Today I've seen it clearly that my stop loss order has been executed by Trade.com but the price had not reached the stop loss level at that time yet. So the stop was filled while the price of the asset allowed little more space to keep the trade running.
 

HosseiniFard

Recruit
Messages
5
Trade.com cheats with stop loss executions! I've noticed this today, but who knows how many times they've done it before.
I normally trade with bracket orders attached. Today I've seen it clearly that my stop loss order has been executed by Trade.com but the price had not reached the stop loss level at that time yet. So the stop was filled while the price of the asset allowed little more space to keep the trade running.
Note that the short positions are opened at the price of Bid and closed at the price of Ask. In MetaTrader by default you only see the price of the Bid, so it is possible that the position is closed correctly in the Ask price and you have misdiagnosed.

Of course, I am not the lawyer of this broker and there may have been a violation. I can help you better if you provide more information.
 

RahmanSL

Major
Messages
2,848
Note that the short positions are opened at the price of Bid and closed at the price of Ask. In MetaTrader by default you only see the price of the Bid, so it is possible that the position is closed correctly in the Ask price and you have misdiagnosed.

Of course, I am not the lawyer of this broker and there may have been a violation. I can help you better if you provide more information.
Agreed with HosseiniFard
A screenshot of the trading account would bring some light to your case.
 

Faelar

Private, 1st Class
Messages
81
Absolutely! That wouldn't hurt to hear little more details on your issue. Not only a statement pic, but also a screenshot or a short video of the trade would be a perfect attachment.
 

Gholis

Recruit
Messages
39
I thought about it, but you know, its rather difficult to catch the exact moment. To tell the truth, I don't watch my trades all the time. I place SL and TP and they often get executed while I'm not there, in front of the screen. Only once I managed to see exactly how it happens. The price HAD NOT reached the stop loss, but the stop loss was executed!
 

Faelar

Private, 1st Class
Messages
81
Try to see if this 'trade.com scam' takes place when you trade on a demo account as well. I have some suspicions, but we really need little more info here.
 

Gholis

Recruit
Messages
39
I've been experimenting with demo for a little while. I stopped live trading for now with trade.com until I find the problem or prove its a scam.
So far it seems to me that the trouble is the same with demo trading. At the same time I've seen that some trades are obviously executed properly, while others don't. Can't figure out is there is anythign systematic about these executions though.
 

FPA Forums Team

Caution: Moderators at Work
Messages
391
I've been experimenting with demo for a little while. I stopped live trading for now with trade.com until I find the problem or prove its a scam.
So far it seems to me that the trouble is the same with demo trading. At the same time I've seen that some trades are obviously executed properly, while others don't. Can't figure out is there is anythign systematic about these executions though.
Did you send them email with questions?
 

Faelar

Private, 1st Class
Messages
81
I've been experimenting with demo for a little while. I stopped live trading for now with trade.com until I find the problem or prove its a scam.
So far it seems to me that the trouble is the same with demo trading. At the same time I've seen that some trades are obviously executed properly, while others don't. Can't figure out is there is anythign systematic about these executions though.
No point to be guessing whether trade.com is a scam or not. Come on, grab a video of at least one instance and upload it here. We will know for sure.
I've seen many traders complaining the've been scammed by a brokerage only because they didn't manage to understand how trading platforms, margin requirements and leverage work. At this point this seems to be exactly the case.
 

Gholis

Recruit
Messages
39
I didn't really have much of the evidence to contact trade.com support directly. I bet they won't even listen without some good proofs. I know exactly how it works. Even if you have proofs they will deny. Without proofs there is no point to attempt contacting.
 
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