Hi all,
My broker isn’t listed here, but I’m hoping more experienced traders can help me get my head around something that happened earlier today.
I executed an entry order short on the EUR/USD at Sydney open. The server accepted the order but when the pin bar opened and started to form (EU/US dropped close to 90 points in the first minute) I was shocked to discover my position not only didn’t open at 1.1089, it didn’t open until 1.1015. A price I clearly did not approve before it was executed. My stop was also moved 60 points above the false entry. When it retraced nearly 60%, of course I was stopped out.
I don’t have much experience with devastating slippage and even less with my broker arbitrarily moving my stops. This trade was accepted by the server, which indicated to me that the entry price (1.1089) was available. It would have been an excellent trade but I can’t help feeling like this is a fraudulent practice.
A service rep told me they weren’t responsible for the trade, then cut off the chat. (before I could save it) I got him again and he just said, “Didn’t you get the notification?”. Which I still haven’t received. I escalated the ticket but he told me his manager would just tell me the same thing. Since I haven’t talked to the manager yet, I wanted to see if someone here could help me wrap my head around how this apparent shell game is legal. Not willing to start naming names and calling them too if it’s a simple case of naivete on my part. I’ve been with this broker for a long while, but now I’m trading a much larger account and this is unacceptable.
If you made it this far, thanks for reading. Any assistance will be [I]greatly[/I] appreciated. If this needs moving to another forum, please feel free. Again, thanks and good trading! (Watch those bounces 
)
Mike
Los Angeles
edit: I put this here since my broker isn’t listed (North America) and this thread appears to have the heaviest traffic.