USD/CAD sell stop @ 1.0062, filled @ 1.0055 7 pips slippage at 10:04:45 CET on no news! Tight spreads my ass...
Ouch KS! Sorry to hear that-time to switch brokers-have you tried trading currency futures on globex? Just trying to help-peace-
That blows..... not sure I read what the size was but as long as it was a dealable size then your owed a decent price .. I understand a point here point there but that is a tough obstacle to get around .....BTW a piece today in the WSJ re the spike in liquidity in cash fx ... given that info you would expect that tighter spreads would follow....
More problems today: USD/HKD stop order at IDEALPRO (above the minimum size), executed at IDEAL at a rip off spread. Official answer: The order was executed at IDEAL because the price was better than IDEALPRO. (Again, there was a huge spike at the time of execution, which considered valid, and there was no specific reason given for it... according to the market-makers, the CR said.) Here we are talking about an execution of around 40-50 pips away from my stop-price.
Stops use the bid/ask as the default. So if you had a sell stop in USD.CAD at 1.0062 then you would need to see the ask at our below 1.0062 in order for your stop to trigger. Then a market order is sent and you get filled on the bid. Check the attached time and sales. Ask is 1.0067 and then drops down to 1.0059. Normal market activity.