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IB have come back to me to reconfirm that the order was triggered, and, in short, that their prices do not match the interbank market, and when you sign up to them, you accept this. So the lesson from this is: For FX, be very careful of IB. You are at the mercy of their FX Market Making. They...

WARNING to Interactive Brokers FX Clients: Stops Triggering I just suffered a loss from IB Stop-hunting behaviour. I attribute this (based on my experience as a market maker for many years in FX products) to TimberHill's (IB's proprietary trading arm) FX trading practices. FX is not...