I just got my first account with a certain broker, and did a few trades with built in stop losses. Maybe I’m just paranoid, but I got some rather big spikes in price that lasted a few seconds that cause some of my trades to close. How would I go about confirming the price levels of my broker against those of other brokers? Does anyone know a good broker where I can see their live price feed without having to fund my account? Also, it would be great if the broker had an online price levels display, so that I wouldn’t have to set up MT4.
Sounds like your stop was too close to the action, especially if you were in a sell position. MT4 only charts the bid numbers, so because of the spread, the ask can be 2 to 9 pips higher right off the bat depending on the pair. It makes it look like price never hit your stop, but in fact, it could be hit easily, and still be an honest stop out.
[B]incog13,[/B] you can also use this Saxo Bank tool: saxobank. com/csp/widgets-tickers/forex-quotes (just remove the spaces, it looks like I cannot post direct links yet). AFAIK they sell their quotes feed to many brokers and the one you use can be among them.
Trade interceptor is free as well and streams quotes from 5 or so of the big players. You can configure the time as well eg daily closes at 5pm EST or midnight GMT.
Wow, thanks for the support everyone! Master Tang, you are probably right and I am probably being paranoid :-). But I will dig into Friday’s prices records and double check just to set my mind at ease. I’ll post back if I found something weird, but most likely it’ll all be ok!