The EURUSD just gapped down over 50 pips, I had 2 systems that were short over the weekend, the girl informs me that Profit Targets are guaranteed, but Stop Losses are not. How convenient for them. I hope they buy something nice with my money.
IBFX is a job shop, a scam. Add to the list the so slow fills, wide as a O spreads on news, noncompetitive interest, limit fills that fill only if they can earn an extra pip, and on and on. Nevertheless, it can be a usefull broker. I still have a small account there and play it from time to time. If the fill your take profit at a worst price the the market price on a week end gap you should complain. This is not fair. If they dont want to hear you, just remove your take profits b4 the w-e or move somewhere else.
I mean, this is a joke, call tomorow and ask for management. Dont let the people from India tell you shit. Say them your going to leave. There are so many MT4 fx MM.
I am covering my EUR/USD shorts. It is now 7:33PM, and pair is at 1.2560 area. I may even start going long!
sounds like he was short, with a profit tgt of maybe 25 pips, but gapped 50. So IBFX filled his order at profit tgt of 25 rather than crediting the whole 50 pip gap. Just reading between the lines. But you can bet your ass if he was long, with a 25 pip stop, they would have filled it at the 50 gap.
That is right, but they had the nerve to fill both short orders at the exact same time at 2 different prices, that were 30 pips apart and 50 points above market. Basically I took the risk, they took the reward.
short EUR or short USD? By saying that profit targets are guaranteed they probably mean at the limit price or better.
got it, but if this is true then IBFX is in the right, ibfx told him that Profit Targets are guaranteed, so if his target was 25pips and it gap down by 50 pips then ibfx will fill his target at 25 pips regarless if it gapp down 50 pips, unless im missing something here
no your not missing anything, its just a very lame policy that allows them to take money out of traders pockets with no risk to them. If they honored stops the same way it would be a different story. Anyway I am done complaining. Thanks for listening.