Does this seem right?

H

Hitnruntrader

Recently I started dabbling in forex more. I was long a small amount of the US/YEN over the weekend......After all the weekend news I didn't like the trade anymore......I put in an order to get flat well before the forex market opened.....Well at least where it opens where I trade.....It opens at 5:15 eastern time where I trade. Then I decided I wanted to go short as well.......I put in an order to short with around 3 minutes to go BEFORE the open. So both orders are in before the open. I had no idea where the market was going to open?? First order was put in at 101.29 and second order at 101.49. Well a few minutes later the market opens........My first order is filled at 101.588 and my second order is filled at 101.49

Now here is the thing that is really bad.......When I look at the charts my broker provides the low in the first minute was 101.58 and the high is 101.7075. How is it possible for me to get printed at 101.49 Just a horrible print...........

Can anyone please comment on this as I am a little bit new to the forex game..........Much appreciated.......
 
Recognise there are lots of issues when dealing with FX regards accurate data reporting based on last 'registered' prices as eveything is OTC and you will get issues like this whereby trades are not accurately reported in the data....eg; they might be amalgamating other data for the charts not their own fills.
In this instance it seems a bit much. I looked at my FX tick chart and it seems excessive.
Best ask your broker directly.
It could be a Mt Gox type broker!
 
Broker? ECN or dealing desk

Bucket shop = dealing desk (market maker model)
Bucket shop = commission via wide spreads [2,3,4 pips often]
Bucket shops often widen the spread just prior to volatility events,

IB = ECN
IB = flat rate

http://www.investopedia.com/terms/e/ecn-broker.asp

Google a bit and it will become clear.

Your fill does seem a bit extreme though. Contact your broker, would be interesting to hear the explanation. [hic, hic - excuse]

This weekend had rather large gaps in Indices, oil, gold, eurusd, etc due to the Russian / Ukraine situation. The price of holding over the weekend.
 
Well the broker I am dealing with is IB. I want it to be clear at this time I want you guys to know I am very happy with IB. This is the first time there is a serious issue. I will see how they deal with it. Thing is the first order I put in to sell at 101.29 and the second one at 101.49.

The second order as mentioned got filled at 101.49 with the market about 10 cents above. Question what would of happened if I sent a market order as the second order??? Or what if I put to sell at 101.00. It seems they might of actual printed me at 101 even which would of been 58 cents below the market...........What if I sent a market order??? You can say to just send limit orders at certain prices but what if I want out asap as soon as it opens..........

I used to trade a lot of stocks and if the market was not open and I routed to nyse I would always get the opening print..........

Will keep you guys posted as to how this plays out.........

I really like IB but they need to make this right.........Does there happen to be an IB rep on here that might be able to help me out??

Thanks guys.........
 
Best check with IB - they certainly do have data reporting issues, however I also use IB, and never seen such slippage - I dont generally leave orders like that for Sunday.
I just looked at the TWS prices for USDJPY - seems your fill was off as there shoul dbe no 3rd party data interference.
It will be interesting to hear what IB say
 
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