Questionable Forex Fill at IB

O

oldtime

At 00:41 EST Thursday 9/15 I got stopped out of a long AUD/JPY at 78.107. My stop was at 78.10 and according to my charts the low for that bar was 78.1125.

Nothing much was going on at the time and that was the only pair close to getting stopped out so that was all I was watching.

My IB chart had a line on it where my stop was, and of couse I knew 10 was where my stop would get triggered since I am configured to stop based on last.

Later that afternoon I called them and they said the stop was at 78.12. It was a busy day so I just let it go. It was a moot point anyway since I would have gotten stopped out a few hours later anyway, but I know where my stop was.

I've traded with IB for years, but I am new to forex.

Anybody know if there is an explanation for this? I have no record of my stop as far as I know.
 
You probably need to better understand how IB operates with forex. They're not a bucket shop that took the other side of your trade. Your order resided in their system until the best bid/ask by one of their liquidity providers caused your order to get sent out for execution. (It's also possible but not likely that another IB customer had the best bid or ask at that point and become the liquidity provider.)

As to your order, you can check your audit log in TWS to confirm what you entered. But sounds like you were just unlucky in this case in part due to poor liquidity at that time. I doubt IB actually messed up your order.
 
Quote from Hurricane:

You probably need to better understand how IB operates with forex. They're not a bucket shop that took the other side of your trade. Your order resided in their system until the best bid/ask by one of their liquidity providers caused your order to get sent out for execution. (It's also possible but not likely that another IB customer had the best bid or ask at that point and become the liquidity provider.)

As to your order, you can check your audit log in TWS to confirm what you entered. But sounds like you were just unlucky in this case in part due to poor liquidity at that time. I doubt IB actually messed up your order.
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blame hft. (/not being sacrcastic)
 
thanks hurricane, yeah that's what I need to do is figure out how to find the audit trail. Not sure what it is, never had a problem before. I know there is box checked somewhere that enables it.

IB has an outstanding reputation, but forex doesn't.

The IB guy wasn't too reassuring, he said, "Oh yeah, it got down around that range at that time."
 
well, I've spent long enough trying to find the audit trail feature.

IB help says go to view on the tool bar and select audit trail.

But there is no view on my tool bar, and the view up top doesn't have it either.

I try to configure toolbar so it has a view button but no luck.

I sent them a ticket, we'll see what happens.

I've got enough to worry about without checking every stop to make sure it didn't get hit out of range.

otherwise, anybody know how to configure the audit trail?
 
Quote from SideShowBob:

On my TWS, Audit Trail is under the Account menu, not View.
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hey thanks sideshow, yep there it was 78.12 so I guess I was wrong, good, now I can get back to worrying about other things.

To tell you the truth, I think I have only talked to IB 3 times, and once was to close out during a power failure, once was due to a start up problem with Java and now this in about many years, since 2002 I think.

anyway, thanks for the info, it's actually kind of interesting I guess on a Saturday to go through a few audits of trades. I don't know why, maybe it's because I'm down for the week and getting kind of jittery for the mkt to open again Sunday night.
 
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