nighthawkns
Recruit
- Messages
- 3
Hello FPA fellows,
Recently I ran into some problem so I would like to share the case and see what others think.
Last week I left a few buy limit orders for some CFD product at 1.2k USD. During the weekend it fell to 850 USD.
The broker I am with has the market closed during weekend.
As the broker's market reopen, the prices was at 940.
All my buy orders were INSTANTLY triggered at the designated price without requote, there were nothing I can do but to see the order getting processed as the market was closed and then processed straight through as market reopen.
So the result was that, my buy order triggered at the set price, when the market price is WAY below that.
Instant -380 for my account.
My account manager did mentioned that the TOC of that broker was to guarantee limit but not stop, and he refused to do anything about that.
So is this my responsibility or the broker's?
My broker is a market maker, is it fair to say the broker cheat/scammed/exploited my orders?
The only thing I could have said I done wrong was to left the buy limit orders open over the weekend, but does it justify the nonsense huge loss for me?
Recently I ran into some problem so I would like to share the case and see what others think.
Last week I left a few buy limit orders for some CFD product at 1.2k USD. During the weekend it fell to 850 USD.
The broker I am with has the market closed during weekend.
As the broker's market reopen, the prices was at 940.
All my buy orders were INSTANTLY triggered at the designated price without requote, there were nothing I can do but to see the order getting processed as the market was closed and then processed straight through as market reopen.
So the result was that, my buy order triggered at the set price, when the market price is WAY below that.
Instant -380 for my account.
My account manager did mentioned that the TOC of that broker was to guarantee limit but not stop, and he refused to do anything about that.
So is this my responsibility or the broker's?
My broker is a market maker, is it fair to say the broker cheat/scammed/exploited my orders?
The only thing I could have said I done wrong was to left the buy limit orders open over the weekend, but does it justify the nonsense huge loss for me?