DKK/SEK is not exactly Euro/Yen/Pound levels of exchange. I doubt IB uses anywhere near 16 for this pair.
would any complaint be made if the spike went your way? but there can be no doubt that forex has practices, that if done in stock markets would definitely attract an immediate jail term before the sun goes down.
i have not heard any other broker complained against here in Et apart from IB. makes me glad i did not fund my account in IB i went with pepperstone
Check the other DKK pairs - big spikes at the same time on other DKK pairs appearing at other tier-1 Fx brokers like Gain Capital & Oanda. This is clearly not an IB issue. NOK/DKK -5.8% spike EUR/DKK -3% spike USD/DKK -1.7 spike
Base rate fallacy. You read a host of complaints on ET against IB. You conclude IB is a shitty broker. I reach the opposite conclusion based on the same observation.
That is obviously sane advice and as far as I know my colleague stopped trading with IB altogether until this issue is resolved.
Obviously not as on the other side there did not sit any stop that might have been hit. But that is aside the point. I am grateful that my colleague alerted me to this. I trade sometimes 10s of millions in aggregate size with IB in G8 currency pairs and this issue has be on red alert because if I was caught in such nasty market manipulation it would cost me 200k usd per 10m notional. I think those figures are worth digging deeper and investigate what is going on. One thing you said is right though, was this a stock then any alert to regulators would have them crawling all over IB. With currencies one is almost at his own mercy. I am just shocked this is the very first time I ever witnessed that with IB in my over 10 years with IB and I am greatly concerned.