Huge Slippage

G

gkadir

Fellow traders, I am seeking some help here.

I trade with a FIX API with Integral.

On Thrusday 4th June at 18.33 (GMT +1) I placed a market order to buy 1 lot (100k) of EURUSD @ 1.12807.
I got filled at: 1.12945

A 13.8 pip slippage in one of the most liquid pairs. It was at 6pm in the evening with very little volatility.

When I put a complaint, they said there was little liquidity and the first liquidity provider refused my order so it went to the 2nd liquidity provider.

Can anyone advice me what I can do here? I am not trading with a bucket shop, I am trading with a reputable company.

I understand market orders are open to slippages but not where the market hasn't traded there.

Is there anyway I can get bid/ask data for that particular time?

I attach a chart to show in Pink where I placed the order to buy and Yellow where I got filled.

Thank you in advance for the help.
 

Attachments

  • Slippage.png
    Slippage.png
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Less volatility == larger spread == possible larger slippage.
Can you check the historical spread at that time?
Which provider? What's the "normal" spread?
1.12807 is bid or ask?
 
I can't check historical spreads on my patform. Is there a 3rd party service that allows you to check historical spread?

Integral, normal spreads is 0.3. i.e 1.12533/1.12536

1.12807 was ask. I placed a buy market order.
 
Does their FIX API not support limit orders?

I mean, seriously, a marketable limit order to remove liquidity at the ask would have saved your butt here.
 
Broker has limit orders, but I use a market order to make sure I get the fill.
I don't mind paying slippages if market has traded at those levels but not a 13 pips slippages when the market didn't even trade there.

Was thinking if by going to the regulator it would make a difference?
 
gkadir said:
Broker has limit orders, but I use a market order to make sure I get the fill.
More...

It's called a marketable limit order. You submit a limit order for the inside ask price which is effectively the same as a market order but if the market suddenly decides to pull all asks and move them up 100 ticks (strange?) you won't get filled.

Atleast, with IB, I don't even see anything close to your fill price. Does your broker charge a commission?
 
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