My broker (FXCM) just dealt me a 135 pips loss per lot past my stop loss which was set to break even last night. They refuse to retract the charge of the loss saying that they cannot guarantee my manually set stop loss, nor trailing stop which is used to lock in profit.
I can understand slippage of 30-50 pips, but 135 pips slippage? It seems to me a broker has total control on what price they can close me out instead of my stop. Where is the security for a trader?
They seem to have changed from past practices. A few years back I had stop loss problem and they usually honored my stop but not now. Why?
Does anybody have any similar experience with this broker? I am one of those unlucky traders who have a day job and cannot watch the market 7/24. I cannot live with this kind of uncertainty from a broker.
Does anybody know of good brokers who can guarantee stop loss order, as I wish to close out my account with FXCM to go with one who can give me some sense of control and peace of mind when I set my stop and leave my PC.
Thanks
I can understand slippage of 30-50 pips, but 135 pips slippage? It seems to me a broker has total control on what price they can close me out instead of my stop. Where is the security for a trader?
They seem to have changed from past practices. A few years back I had stop loss problem and they usually honored my stop but not now. Why?
Does anybody have any similar experience with this broker? I am one of those unlucky traders who have a day job and cannot watch the market 7/24. I cannot live with this kind of uncertainty from a broker.
Does anybody know of good brokers who can guarantee stop loss order, as I wish to close out my account with FXCM to go with one who can give me some sense of control and peace of mind when I set my stop and leave my PC.
Thanks