TP and SL at Mid Price(not the bid/ask)?

Discussion in 'Forex' started by MrAgi1, Sep 19, 2022.

  1. MrAgi1

    MrAgi1

    Are there retail forex brokers/platforms(none U.S) that let you set take-profit and stop-loss targets at mid-price(or mark, last price) rather than the usual bid or ask price?

    I don’t think it’s available on the MetaTrader and Ctrader mobile platforms.
     
  2. kroxobor

    kroxobor

    who will be counterparty for that trade at that price?
     
    MrAgi1 and spooz like this.
  3. MrAgi1

    MrAgi1

    I am not trying to close my trades at mid price actually. I am still closing my trades at the bid or ask price but only when mid price is reading a specific value.

    example: I open a long GBPUSD @1.1425 with a 2 pip spread, that means my current bid is at 1.1423. Let’s say my take profit is at 1.1435. So this trade would close for a profit once the ASK hits 1.1435, and with the same 2 pip spread my bid would be at 1.1433. What I want instead is for the trade to close when mid price is at 1.1435, that means the trade actually closes at 1.1436(ASK price) with the BID at 1.1434, assuming the spread remains the same throughout the trade.

    As can be seen highlighted in yellow in the attached picture. That’s the TOS platform and you can exit/enter trades when a certain MARK price is reached(it does not mean you are been filled at the MARK price). Unfortunately, I can’t use TOS because of the very limited deposit methods available(just like most US brokers).
     
    Last edited: Sep 19, 2022
  4. MrAgi1

    MrAgi1

    Ignore all of this. It’s inaccurate. I should better rephrase and summarize.