Why my broker ETX Capital's lowest bid price is 10 pips higher than market price?

[SweetPiggy]

Hi all,
I am new to this FX.
I opened my short position for kiwi dollar last week at 0.8179 and set the sell limit at 0.8159 but my sell order did not get executed while in fact the market price i got from charting software ESignal has gone down to 0.8151(lowest of the day), when i rang my broker up why they did not execute my sell order they said to me the lowest bid price from them was actaully 0.8161 which was 10 pips higher? Why is this? That worries me that we base our technical analyisis on esignal with real time market price, while in fact the broker actually has a much different price which result in our orders not filled?
I am looking forward to hearing from you and thanks a lot for your advice.
Regards,

[Tonyinforex]

Hi all,
I am new to this FX.
I opened my short position for kiwi dollar last week at 0.8179 and set the sell limit at 0.8159 but my sell order did not get executed while in fact the market price i got from charting software ESignal has gone down to 0.8151(lowest of the day), when i rang my broker up why they did not execute my sell order they said to me the lowest bid price from them was actaully 0.8161 which was 10 pips higher? Why is this? That worries me that we base our technical analyisis on esignal with real time market price, while in fact the broker actually has a much different price which result in our orders not filled?
I am looking forward to hearing from you and thanks a lot for your advice.
Regards,

Hi Im new too. What I’ve been told is that the market price can vary from site to site but im not sure why. Could you help me? Im looking to open an account with etx capital and as well as trading currency i was wanting to trade stocks. How much minimum is it to open a position on stock (i know it will vary from stock to stock) and how is this worked out?

[Shocks]

I can’t post links to these documents but hey should be available on the etx capital website.

Etx capital terms and conditions:

Basics of trading 4.1
Trading, our prices 9.21

Etx capital order execution policy:

Execution criteria 3.6

I have had the same issue. However in my cases it has always been the fact that when I execute at the bid/sell price the current market price becomes the offer/buy price rather than what is represented.

Correct me if I am wrong. When you enter a position the current price indicated in the open position represents the current market price derived from whatever source the broker uses.

Why is it that when I place an order (for reason of understanding alone) to buy at one price and then place an order to sell the same market at the same time do I receive two different current prices.

As far s I am concerned I am trading the opposite spread price.

[mrchilled]

Hi all,
I am new to this FX.
I opened my short position for kiwi dollar last week at 0.8179 and set the sell limit at 0.8159 but my sell order did not get executed while in fact the market price i got from charting software ESignal has gone down to 0.8151(lowest of the day), when i rang my broker up why they did not execute my sell order they said to me the lowest bid price from them was actaully 0.8161 which was 10 pips higher? Why is this? That worries me that we base our technical analyisis on esignal with real time market price, while in fact the broker actually has a much different price which result in our orders not filled?
I am looking forward to hearing from you and thanks a lot for your advice.
Regards,

I’m with Capital Spreads in the UK, also a spread betting firm like ETX and I think the issue is to do with timing and liquidity. If your broker is offering fixed spreads, then you will get slippage during volatile times (news releases) or low liquidity. You can’t compare one broker’s bid/ask with another because you won’t get the same quote. Ask your ETX rep for a more detailed explanation and I’m sure they will be able to explain it better. It’s in their interests to keep you on their books then to sting you.