Huge Slippage

Jack_Larkin · Jun 8, 2015

gkadir said:
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?

Did you understand what I meant by "marketable limit order"? How about "remove liquidity at the ask"?

doggyfx · Jun 8, 2015

gkadir said:
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.

Theoretically they're innocent, as it is possible for ANY pair in ANY time to get ANY slippage. But in practice I'd call that bullsh@t and run away from that broker. Had a trade on EUR/USD at your time with Hotforex got 0 slippage, as there were very low volatility.
It's strange that your "reputable" broker is up to such ripoff any bucketshop would envy to..

gkadir · Jun 8, 2015

thank you doggyfx for that reply. I seriously thought I was trading with a top platform. Integral is well respected. My trade was at 17:33.16 GMT Was yours exactly at the same time?

Broker responded saying, the whole market experienced this but this clearly is not the case.

Thank you

doggyfx said:
Theoretically they're innocent, as it is possible for ANY pair in ANY time to get ANY slippage. But in practice I'd call that bullsh@t and run away from that broker. Had a trade on EUR/USD at your time with Hotforex got 0 slippage, as there were very low volatility.
It's strange that your "reputable" broker is up to such ripoff any bucketshop would envy to..

fxwannaB · Jun 8, 2015

gkadir said:
Broker responded saying,

so... what is the name of this broker ?? we need to know.

gkadir · Jun 8, 2015

http://www.integral.com/

fxwannaB said:
so... what is the name of this broker ?? we need to know.

minmike · Jun 8, 2015

Never use market orders. Limits past offer would not have the same problem.

fxwannaB · Jun 8, 2015

gkadir said:
http://www.integral.com/

Never heard of them. Next time use "market order with limit" , i use "market +5" meaning it's a market order with max slippage of 5 pips..

For now you should dump these guys asap.

fxwannaB · Jun 8, 2015

minmike said:
Limits past offer would not have the same problem.

That works too..

gkadir · Jun 9, 2015

Guys,

I just wanted to update you. My broker as refunded me the slippage amount and has put it down to a rouge trade.

I thank everyone who has helped me here, ET is a great place to source the help needed.

Happy trading!

trader_phil · Jun 11, 2015

getting refund is a good sign! more traders should contact broker regarding slippage, but there are time where slippage is something unavoidable as long as its acceptable, there is no perfect broker in my opinion I trade hotforex and i even got some minor slippage but rarely still as long as its manageable.. its just the mind set so other traders wont freak out