This afternoon I was watching the USD/TRY chart on my metatrader 4 platform. At 15:22 o’clock (GMT+1) I decided to go short on this pair at price 2.9422. I put my SL at about 2.9582. My TP was 2.9152. I closed my notebook and went downstairs. After I got back to my room and looked at the chart on metatrader, I was happy because I saw the price going downwards. When I opened plus500 to see how much profit I currently had, I saw my position closed at 15:32 o’clock (GMT+1) with a loss call as reason, price 2.9758.
I watched at my metatrader platform aswell as the USD/TRY chart on the tradingview.com platform. None of these 2 platforms was showing a candle which went up to the price of the loss call, 2.9758.
I contacted the customer service to check how this could happen. Plus500 informed me:
Furthermore, please be aware that on the graph from our platform is displayed the sell rate. Since the position you are referring to is a sell position, it will be closed at the current buy rate. Thus in order to receive the current buy rate you should add to the sell rate the market spread.
When I add the spread, about 20 pips, to the sell rate, it still would make no sense since the stop loss was about 300!! pips higher then the current sell rate.
Please see pictures below. According to the charts of metatrader and tradingview the price has never retraced back to 2.9758. I hope you guys can help/inform me
Why did you deal with them in the first place, when in fact you must be doing your trades with a ECN Forex Broker like i am doing and have no such problems
I used to trade stocks from a good regulated, reliable broker in the netherlands (i live there). Once I decided to trade forex, I did a quick broker research and plus500 is among the most popular ones here in NL…It also is a big one and sponsors big soccer clubs like Athletico Madrid… Thats why I actually trusted them. Which brokers do you guys prefer?
I required some compensation from Plus500, hope I can get back all of my money i deposit at plus500
While the image is not the best to judge by, from what I can see they were right. The candlestick you highlighted appears to be between 2.9700 and 2.9800 and you were closed out at 2.9758. You said the spread is 20 pips and that they display the sell rate and not the buy rate which means a price on that chart of 2.9738 would have caused you to be stopped out. From the image you provided it looks like that happened.
It is easy to call foul play, but I doubt you will receive any compensation as there was no foul play. While there are plenty of stories of a broker messing with positions, in most cases they just don’t. I am not trading with Plus500 so this is not a response to defend the broker, just answering your question based on the info you provided.
