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FXCM Micro stopped me out on bad ticks
- Thread starter paden
- Start date
I was just about to post this.The bad tick today at 14:48 affected all pairs at FXCM. Lots of FXCM clients lost; hundreds and thousands were evaporated today due to this issue. I don't know how they are going to "reset" the positions to what they were before 14:48 as they say in the message. It could end up causing more of a loss. They should just compensate accounts on the losses rather than trying to re-create the positions. Here is the message they sent out:
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At time 14:48:55 EST, our rate feed which is derived from bank prices experienced a bad tick on all currency pairs. This caused the trading platform to issue erroneous margin calls and incorrectly trigger stop/limit/entry orders. We are currently resolving the issue and will return client accounts back to their positions at 14:48:54. So that we can correctly rectify the issue, please refrain from placing trades until you receive confirmation, which we anticipate will be at 18:00 EST. Thank you.
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At time 14:48:55 EST, our rate feed which is derived from bank prices experienced a bad tick on all currency pairs. This caused the trading platform to issue erroneous margin calls and incorrectly trigger stop/limit/entry orders. We are currently resolving the issue and will return client accounts back to their positions at 14:48:54. So that we can correctly rectify the issue, please refrain from placing trades until you receive confirmation, which we anticipate will be at 18:00 EST. Thank you.
No problem, I'm in the same boat but my losses are not too bad since I was only trading a micro-lot account. Hopefully they will make it right...
Wow, what a bad place to trade. A bad tick that blows everyone out on margin calls is a major problem. I would close my account and move on if I were you guys. I wonder how many bad ticks they get, that are of smaller value that go undetected to run stops. This is probably a little light shining on their manipulative algorithms that they run.
tradersboredom
Guest
that is the broker/market makers business model.
Quote from RiceRocket:
Wow, what a bad place to trade. A bad tick that blows everyone out on margin calls is a major problem. I would close my account and move on if I were you guys. I wonder how many bad ticks they get, that are of smaller value that go undetected to run stops. This is probably a little light shining on their manipulative algorithms that they run.
tradersboredom
Guest
you are way overleveraged.
brokers will stop you out. you can't lose more than what is in your account. at 100:1 it's easy to get stopped in these volatile markets.
brokers will stop you out. you can't lose more than what is in your account. at 100:1 it's easy to get stopped in these volatile markets.
Quote from paden:
a bit frustrated right now as I had some good trades on today. however, bad ticks caused sell at resistance to get blown through, and they stopped me out for losses that didn't exist.
i have never had a trade happen because of bad ticks. this sucks
no response from them as of yet.