What exactly is that?
Rocky B:
What it shows is due to the spread.
Make sure you have the same conditions on both accounts.
Rocky B:
Hello can anybody with much experience can tell me what exactly happened here?
I use a Trade Copier Software and copied my trade from IC-Markets to Eightcap but the Trade was opened and closed in a range where there is no chart. Is this slippage or what exactly has been the problem? I made a profit on IC-Markets and a huge loss on Eightcap. Is Eightcap possibly not suitable for gold trading especially in rollover time?
just click on my 2 screenshots and fasten your seat belts 💺
If the arrows are correctly drawn, that seems a serious broker issue.
Is that on a real or demo account ?
Alain Verleyen #:
Hey Alain, it’s a demo account. I am doing a Prop Challenge.
If the arrows are correctly drawn, that seems a serious broker issue.
Is that on a real or demo account ?
Hello I got feedback from Eightcap. What do you say about this? I am interested in your opinions.
"Regarding deal 84881866, the order worked as it should. The TP triggered correctly when the bid price moved from 273836 to 273845 at 23:58:41.645 in 06/05/23.
The last modification made to this trade configurated the TP to trigger at price 273839.
There are several elements to take into consideration:
- A BUY position opens at the ask price and closes at the bid price, so the trade completes at the bid price. The chart only shows top of book bid prices.
- TPs are not a guarantee of price, but rather a price limit to trigger the order. Once this is met, the trade gets filled at the best next available price. The same applies with SLs.
- Not all executable prices are available on the chart as it only quotes top of book. The trade could’ve been executed at a different price, and that’s why it doesn’t necessarily show on the tick data.
- He was trading 5.94 lots of 100 contracts each. In order to fill all of the volume, it got filled in different prices.
You can check the review of the trade in the file attached."
By default, there is nothing that we can do as these pricings are from the market as stated before
Files:
Eightcap_Deal.xlsx.zip
26 kb
Rocky B #:
"Regarding deal 84881866, the order worked as it should. The TP triggered correctly when the bid price moved from 273836 to 273845 at 23:58:41.645 in 06/05/23.
The last modification made to this trade configurated the TP to trigger at price 273839.
There are several elements to take into consideration:
- A BUY position opens at the ask price and closes at the bid price, so the trade completes at the bid price. The chart only shows top of book bid prices.
- TPs are not a guarantee of price, but rather a price limit to trigger the order. Once this is met, the trade gets filled at the best next available price. The same applies with SLs.
- Not all executable prices are available on the chart as it only quotes top of book. The trade could’ve been executed at a different price, and that’s why it doesn’t necessarily show on the tick data.
- He was trading 5.94 lots of 100 contracts each. In order to fill all of the volume, it got filled in different prices.
You can check the review of the trade in the file attached."
By default, there is nothing that we can do as these pricings are from the market as stated before
Hello I got feedback from Eightcap. What do you say about this? I am interested in your opinions.
"Regarding deal 84881866, the order worked as it should. The TP triggered correctly when the bid price moved from 273836 to 273845 at 23:58:41.645 in 06/05/23.
The last modification made to this trade configurated the TP to trigger at price 273839.
There are several elements to take into consideration:
- A BUY position opens at the ask price and closes at the bid price, so the trade completes at the bid price. The chart only shows top of book bid prices.
- TPs are not a guarantee of price, but rather a price limit to trigger the order. Once this is met, the trade gets filled at the best next available price. The same applies with SLs.
- Not all executable prices are available on the chart as it only quotes top of book. The trade could’ve been executed at a different price, and that’s why it doesn’t necessarily show on the tick data.
- He was trading 5.94 lots of 100 contracts each. In order to fill all of the volume, it got filled in different prices.
You can check the review of the trade in the file attached."
By default, there is nothing that we can do as these pricings are from the market as stated before
As far as I know EightCap is a reputable broker and their statement makes sense. You have been filled with available liquidity. Obviously you have had the unfortunate situation of volume based slippage with your orders execution.
Same happend back in 2015 as the CHFEUR peg got removed and the market fell/crashed by 2000pips in a few minutes. Back then, there was no liquidity to fill stop orders, and whole platforms gotten taken out, bankrupted in minutes.
I would suggest since you are probably trading with "Traders Academy" to stay within usual liquid sessions for your trading. Probably quite a bunch of traders had their orders closed around where you had yours closed as well. So a huge liquidity demand was on EightCap at that moment and their liquidity pool was empty.
My suggestion would be, try to stay within the usual NY, GB sessions. - Since they are from Australia, maybe even Sydney session is more applicable, but I don't know about their main user base, nor about their liquidity providers.
But this example shows how important it is to know about your trading environment and broker as well as their providers. - Do some research. - I am sure, it could have been avoided with enough knowledge.
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Hello can anybody with much experience can tell me what exactly happened here?
I use a Trade Copier Software and copied my trade from IC-Markets to Eightcap but the Trade was opened and closed in a range where there is no chart. Is this slippage or what exactly has been the problem? I made a profit on IC-Markets and a huge loss on Eightcap. Is Eightcap possibly not suitable for gold trading especially in rollover time?
just click on my 2 screenshots and fasten your seat belts 💺