Suspicious Spike?


Sergeant Major
I don't want to name a particular broker as I'm fairly new to this game and could be well be mistaken, but even so the spike I experienced on Friday evening a few minutes before the markets closed seems highly suspect to me. My stop loss was miles from the price but the spike still managed to reach it and close the trade (closed my trade at 10786.2). Is this 'normal' for a currency pair to behave in such a manner? There was no sign the currency pair had behaved like it previously.

Sometimes it happen, it even got its own name called rollover spreads and rollover spikes. Some brokers even issue warning that spreads can be unusually wide during Friday close or there can be spikes (like Hotforex does) because of low liquidity in the market (some liquidity providers switch off early, etc.). But after all it depends on your broker to manage such events and if it happens too often they you have to look for some other place to trade.