Is my broker stealing me money?

Hello.
Today i was trading eur/usd and i was in a wining trade and i mouved my SL to better than BE to secure my position then im shocked when i got executed without the price reaching to my SL take a look on the Screenshot if someone can i explain to me what i did wrong.
T


hank you

The platform is MT5

I only recognized there was a spread after I had already experienced it.

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I have a spread of 11 i just checked thank you for your help I will take it in consideration next time

it isn’t possible to tell this with certainty from what you’ve posted

i suspect that you may be using a bad broker, but i may also be mistaken about that because there isn’t enough information to tell confidently

which broker is it?

you adjusted the stop-loss a little too far, a little too early, as it turned out, perhaps overlooking “spread widening” or something similar?

a better place to move the stop loss would (as so often) have been just above the high of the most recently formed swing-high (that’s the high of the candle three candles before the one your cursor is pointing at)

it’s nice to move the stop-loss to “better than BE” of course, but not too quickly: let price action (swings high/low) determine where it goes, not the level at which you entered the trade! :slight_smile:

im using Vantage Markets , and yes i moved my SL to fast the spread is the difference between the bid and ask because i have 11 points in spread

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ok, well, 1.1 pips (11 points) is a slightly high spread for the Euro, but not horrible …

that should be safe enough, as long as your account is with Vantage Global Prime Pty and is regulated by ASIC

i mention it because Vantage is one of those “tricksy” brokers that runs three different, separate companies under three different names and three different regulators, but they like to give the impression on their website that they’re ASIC-regulated when many of their customers’ accounts are NOT actually ASIC-regulated … it’s very deceptive and dishonest marketing, of course …

if your account is with “Vantage Global Limited,” that’s regulated only in Vanuatu (from the customer’s perspective, that’s another way of saying “unregulated”!!), and if it’s with Vantage Markets (Pty) Ltd then it’s regulated only in South Africa, i.e. not by ASIC at all

this probably has no relevance at all to what you asked, but it’s really important to understand this clearly at the start of your trading, to make sure that in future you avoid joining the huge number of people who thought they had an ASIC-regulated account and then experienced various accidents and financial losses which ASIC is not actually authorised to investigate or resolve (and in the event of a disaster, you’ll get no joy at all from those other “regulators”)!! :woozy_face:

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Thank you Sir for ur clarification i will contact them to know what entitie im with because i didnt know the have so many i though there is just one regulated by ASIC i will ask them if my account is My account is ASIC-regulated or not. i will back to you when they answer me. thank you again

I asked them if my account is ASIC-regulated and they said that my account is register uder Vantage Global Limited. Vantage Global Limited is authorized and regulated by the VFSC .

it is of course your choice and your business, but personally i strongly recommend that you change it for a Vantage Global Prime Pty account regulated by ASIC

it will incur some delay, and inconvenience, and maybe even a tiny bit of expense, but some things (very few things, actually, but this is one of them!) are simply too important to take a chance over … don’t end up being one of the people in this sort of position :open_mouth:

i think i will change the broker because they said they cant give me a ASIC-regulated account because im not living in australia. if i may ask what do you think about Xtb.com?

I think this is because of trading spread even though I am not that much sure.

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yes it is the broker, they have such a wide spread

i know very little about them (i think that’s encouraging: if they had an awful reputation in the industry, for example, i would probably know) - i would advise you to make sure that any account you open there is FCA-regulated, not regulated just in Poland or Cyprus

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you can contact your broker and asked them why, then tell us about what they reply you.

have you actually read the thread at all, @Phonix, or just the first post? :pensive:

they have big spread

Thank you for all the information i appreciate it :+1:

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I did read that, and I could easily blame the broker, just like what you always do (of course, not when you talk about capital! thats something you never blame, your ultimate good :smiley: ) yet I need more information on that, I can not say what has been going on in his account, I need to hear what the broker has to say about what happened and then I can conclude.

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ok, thanks - and sorry, then, probably i came across rudely - apologies for that

(i don’t remember posting anything about “capital” but maybe i did at some point and have forgotten)

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If that’s at 1700 EST then it’s a lack of liquidity at that time. Lowest time of day for liquidity providers.