IB problems

Discussion in 'Forex Brokers' started by golf123, Sep 8, 2006.

  1. golf123


    My wife did a trade this morning. It was a SL in dollar/cad
    it got filled at 1.1199 at 7am, the high in the market has been in
    the 40`s. Can someone at IB please explain this
  2. ddunbar

    ddunbar Guest

    Not a screwup but what is par for course in Forex during news releases.

    Canadian unemployment report came out @ 7AM EST.

    Look here: http://www.forexfactory.com/

    Average price before news (6:57-6:59) was 1.1111

    Check some charts and you'll see this is the case. Also bear in mind that USD/CAD is relatively illiquid and all the more so during news releases so volatility will be exaggerated.
  3. golf123


    The market high from 7am to 8:30 was 1.1145 we have
    just hit 1.1168. she got filled at 1.12. THat is IB banks screwing

  4. ddunbar

    ddunbar Guest

    OK, I must be missing something here.

    What was the original order? A stop loss @ what price?

    Also, call up a chart in TWS. Then look at the time and sales.
  5. golf123



    She sent them an email.

    I trade FX for a living for a FI. I am teaching her FX trading.
    She just learned at getting screwed royally.

  6. ddunbar

    ddunbar Guest

    It's the standard story in retail FX. Using stops during major news release times equates to crappy fills. At least with IB, one could use a stop limit - setup so that there is a wide enough difference between the stop and limit price to account for extreme volatility.

    What bank executed the order? DBKFX?
  7. golf123


    I am at work so I do not know, she has gone out. I trade
    in the real world of FX. They better fix this or I will raise
    so much SHT.

  8. I have a high on the day in USDCAD at 1.1173 (+ 5 pip spread) just recently (0915) based on TradeStation. Can you check Reuters or EBS? I don't think it went above 1.1190. When it was up there in the 70's it was not spiking. My post employment spike on USDCAD was 1.1147 (+ 5 pip spread)

    Was watching the Europeans and getting @#$ed. I don't think it came even close to that high right at 0700. Sounds like crap to me.

    I have only had one SL hit through data and I was slipped w/ disappointment because the spike was not that big... And yes, I do understand markets and slippage dynamics.
  9. golf123


    I just got notified they are cancelling all trades above 1.1160
    they were all considered busted or something.

    Thanks IB.

  10. I need to confirm, but isn't it the case that all stops/limits stay resident with IB's systems. Once tripped, they get sent out. That to me is insane, because it should result in significant slippage every time...
    #10     Sep 8, 2006