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Think Forex slippage is too much. stay away

Discussion in 'Scam Alerts' started by showaihi, Aug 13, 2016.

  1. showaihi

    showaihi Recruit

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    Hello every one
    I wanna share my experience with Think forex. this week I was having open buy position on GBPNZD. with release of NZD news the pair went down more than 200 pips. my Stop loss was 1.7900. Think forex closed my open position at 1.7779. I lost around 1000 USD on total. what do you think of this behavior. personally I think they are scammer. Because I know people who trade the same pair same time same Stop but didn't have slippage as I did. please share you are experience.
    thanks
     
    Ashafa likes this.
  2. Ashafa

    Ashafa Recruit

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    I mean under the regulations that guards financial investment, precisely forex trading, such slippage is similitude of financial scam,thus such affected brokers must be queried
     
  3. shogunfx

    shogunfx Sergeant

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    I think you are talking about SPREAD not Slippage. They wide spread at news release time .
     
  4. showaihi

    showaihi Recruit

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    No if it is spread issue it should trigger stop loss at the exact stop loss it set. but they close the position 120 pips away from my Stop loss.
     
  5. shogunfx

    shogunfx Sergeant

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    Your correct if that trade is Long. Is closed if Bid is lower than Stop Loss level. If Trade is Short, Stop Loss is triggered if Ask is higher than your Stop Loss level. So you need to consider your Stop loss level + Spread in case of a Short Trade.

    About Slippage, you find definition here .
     
  6. showaihi

    showaihi Recruit

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    the trade was long
     
  7. shogunfx

    shogunfx Sergeant

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    In that case it was a margin call. Your account leverage is very small.
     
  8. Pharaoh

    Pharaoh Colonel

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    This is a chart of what happened:

    [​IMG]

    You can pull it up via the FPA calendar. The one minute chart shows a very long candle. The 30 second chart shows a huge gap. I'll guess this is because not too many people trade GBPNZD. The USDNZD chart even on 5 second candles shows only much smaller gaps.

    Unless ThinkForex's LPs are considerably better than the ones Dukascopy uses, it looks like you got filled very close to the top of the first candle after the gap.
     

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