Has this happened to anyone else and is something dodgy going off here or is it simply the norm ?
I have used two brokers this year, currently trading with Trading212, but this has happened to me with each broker. I was £168 in profit on a trade and during my trade went onto their chat system to ask a question, whilst on it I commented on how I like their platform. Within a matter of minutes of my chat ending I was watching my trade within 3 blinks of an eye turn the opposite direction. I went from a £168 profit to a £258 loss. My broker is a NDD broker. Yet, what I find odd, is that as soon as I lost my money the trade simply slowed down and as soon as my stop loss was hit. What really surprised me, was that I was watching the trade in front of me disintegrate in seconds before my eyes without even having time to react, it literally went from me being in profit to losing in seconds. The market was moving gradually to reach my profit over days, then the loss happened in no time at all. I guess what i’m asking is, is there a chance my trade was being manipulated here or is this simply how the markets work and it was just sheer bad luck ? How would you ever know a NDD broker is a NDD broker, they could say on their website they are and they aren’t. This all appeared so uncomfortable to me.
It is hard to comment on the move concerned without knowing the size of your actual position. As I am sure you know, markets can move very fast in a few seconds - as we saw an example of only today!
I do not believe an NDD broker can actually influence the price feeds from its providers but of course if they are actually taking the other side themselves then in theory they could manipulate the price. But, again, I do not think a broker would move its quotes [U][I]dramatically [/I][/U]away from the current market price simply to gain £400 but if your position was large and the move was only a question of a few pips then it could be feasible, so it depends on how far the market actually moved to hit your stop - which also reflects in the size of your position. But judging by your post you are talking about a fairly substantial move here?
I think you could get some peace of mind and confirmation of the authenticity of the price (or lack of) if you could give us a specific time and price and which market and time frame you were dealing in. I am sure someone can give here an independent screenprint from their own broker’s price history, including high and low data, for you to compare your situation with. If there does happen to be a significant deviation then you would have grounds for investigation.
Have you examined the tick charts for the minutes this occured in? This should show you if there were any spikes. What time does your trading history give for this, you could check it on another brokers platform to see if its correct
Thanks for the replies. I think i am just shocked at the speed of the loss. I was even watching the trade at the time and literally watched it move in the opposite direction in horror so rapidly, I’ve never seen the market move that fast before and it never seems to happen in your favour that quick !
Are you aware, that there was a Fed Interest Rate decision a little below 2 hours before you wrote this question? If you would post a chart, or say the time, when this happened, it could be answered easily what happened.
This shows the drop thru the morning followed by a huge spike around the Fed announcement, matches my own charts exactly. All proper and above board, typical of trading around any big news
If you want to take a look at GnpNzd, there was a 250 pip spike in one minute earlier this evening around the RBNZ rate announcement.
If you download the myfxbook app they send updates as they occur
Just Google Myfxbook app and you’ll find it.
Try trading micro lots so you dont lose (or win) so much. It should keep you in the game while you learn without breaking the bank
