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Tradersway doing some shady stuff

Discussion in 'Scam Alerts' started by chongrudy12, Apr 24, 2019.

  1. chongrudy12

    chongrudy12 Recruit

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    So i was on demo with this broker for a while and everything worked smoothly. Then of course when i switch to live thats when you realize that this broker is pretty shady. So i set up a sell stop right? Whats the point of pending orders? to enter a trade at the SPECIFIC price you chose. This all worked fine on demo then when i switched to live they shifted my pending orders by more than 20 pips. Their response was that they will enter at the best price they can during low volatility. So basically NEVER set up pending orders during low volatility (signs of a great broker right?) Interesting though because ive used other brokers that triggered my pending orders during low volatility/ high impact news events at the price i CHOSE. I only chose TW because of the spread and leverage but thats literally all they got going for them. I would honestly stay away from this broker, they are also unregulated so that means if they dont feel like helping you out then youre screwed. I guess i learned the hard way of trying something new and got burned for it. Be cautious guys, idk if it was the right idea to test out a broker with demo first, which i thought was a good idea but its different when youre trading live. Safe trading ladies and gentleman!
     
  2. TradersWay

    TradersWay TradersWay Representative

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    Hello,

    We see your correspondence by email you had with our Support Department previously. There was high impact news at the time your trade was opened. We understand your frustration, but trading with market execution, even with pending orders, means that such slippage can and will happen. Slippage is symmetrical, so you will experience it equally in both the negative and positive directions. Your Stop Loss can slip but so too can your Take Profit.

    Pending orders are executed at market by the platform. When you enter a pending order, you instruct the platform to open your trade at market immediately when the price meets or exceeds the level specified. During normal market situations the trade will open very close to the price you anticipated but this will not always be the case.

    Please see the information on our website regarding execution - https://www.tradersway.com/new_to_the_market/forex_and_cfd_basics#execution

    If you wish to trade on an account type that would disregard such pending orders, you can try the MT4.FIX account type, which uses MT4's Instant Execution with slippage control settings. Note that the spreads on this account type are a little higher and orders may be rejected if you do not set enough allowable slippage.
     
  3. chongrudy12

    chongrudy12 Recruit

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    i know what slippage is, however high impact news events are UNTRADEABLE with you guys with pending orders because its not just a possibility you will get slippage. You will 100% get slippage, atleast with you guys. I have used other brokers and have gotten slippages from time to time but not more than once in the span of 24 hours. Either your servers are not equipped to handle trading high impact events or theres something fishy going on.
     
  4. chongrudy12

    chongrudy12 Recruit

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    also your slippages cost me more than 20 pips so theres obviously something wrong here
     
  5. 4evermaat

    4evermaat Sergeant Major

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    I recommend you screen record your trading session with all the relevant parts showing. Then it is easier to prove the slippage occurred, execution times, etc.
     
  6. FxMaster

    FxMaster Lt. Colonel

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    @TradersWay, can we have update on this thread, please?
     
  7. TradersWay

    TradersWay TradersWay Representative

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    Slippage can and does occur during high impact news events, and can be significant depending on the conditions at the time. We route your orders through to to our liquidity providers and do not interfere with nor add additional slippage. The platform takes your pending order and submits a request for market execution when the price meets or exceeds the specified level. We suggest using our MT4.FIX account type if you want some slippage protection. Generally speaking, you should be careful about using pending orders that open new trades during high impact news events. Your trades have been executed within a normal realm.

    All brokers use different sets liquidity providers and some may be keeping trades in-house, accounting for the differences you see.
     

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