Help: my broker imposed slippage on mt5 limit order, how is that even possible? - page 2

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Y C #:
Thanks Michael. Based on your experience if I raise this with MetaQuote team, will they acknowledge and taking a look? 

No they won't. You have to take this up with your broker, if you are dissatisfied with your broker and think they are wrong then go to their regulator. 

Always use a well regulated broker and ideally located in your own country.

 
Paul Anscombe #:

No they won't. You have to take this up with your broker, if you are dissatisfied with your broker and think they are wrong then go to their regulator. 

Always use a well regulated broker and ideally located in your own country.

I got a new reply from them, and I will quote.

*** is an STP broker, which means that clients' trades are sent directly to liquidity providers. In turn, liquidity providers have their own internal procedures for determining the riskiness of clients. Thus, they can change the trading conditions at their discretion for a particular client. Please note that we have no influence on the quotes, we only display currency quotes received from liquidity providers, and these quotes reflect the current market situation

They said it was the liquidity provider who marked me. I guess the only reason could be because I traded big volume and have been successful, or because I do scalping sometimes.

But as a matter of fact, this broker webpage says any strategy is welcome and they specially mentioned scalping is allowed.

Anyway, the experience is really ugly, or don't even know who to blame now.   Metatrader5 failed me as well. I might go to regulators for help now.

How ironical that can be ! The price from the quote being displayed on my terminal will never be the execution price of my order, no matter when and where I made the order.

What is the point of displaying the price any more, and what is the point of keep saying no deal-desk, when the liquidity provider itself can change execution anyway they want.

⚠️Broker name removed by moderator as broker discussions, recommendations or suggestions are not allowed on the forum

 
Y C #:
Thanks Michael. Based on your experience if I raise this with MetaQuote team, will they acknowledge and taking a look? 

after you see a pig flying -- maybe then.

 
Y C #:

I got a new reply from them, and I will quote.

*** is an STP broker, which means that clients' trades are sent directly to liquidity providers. In turn, liquidity providers have their own internal procedures for determining the riskiness of clients. Thus, they can change the trading conditions at their discretion for a particular client. Please note that we have no influence on the quotes, we only display currency quotes received from liquidity providers, and these quotes reflect the current market situation

They said it was the liquidity provider who marked me. I guess the only reason could be because I traded big volume and have been successful, or because I do scalping sometimes.

What about switching to a ECN-broker? I saw in your initial screenshot that you traded xauusd.ecn (which supposed ECN), but now you posted a support reply that they are STP-broker. ECN should provide better liquidity and execution, right?

Also maybe the trade execution type and filling mode in symbol specification may be important. Can you find and try symbols with other specs (they probably comes from other providers)?

 
Stanislav Korotky #:

What about switching to a ECN-broker? I saw in your initial screenshot that you traded xauusd.ecn (which supposed ECN), but now you posted a support reply that they are STP-broker. ECN should provide better liquidity and execution, right?

Also maybe the trade execution type and filling mode in symbol specification may be important. Can you find and try symbols with other specs (they probably comes from other providers)?

Thank you sir for the reply . I belive this is just symbol name. 

All the acccounts of mine, no matter Standard, or RAW SPREAD has been given worse trade conditions as the execution price are far away from display price.

I can do nothing in this case, the broker, they also can do nothing

 
only recently a couple Aussie brokers were given big fines after large sudden and microsecond spikes in price. Their defense was the same as above; they blamed it on their liquidity providers, however, the regulator fined them millions, and the licence provider put extra conditions on their reporting to their licence conditions, and the brokers have had virtually nil of any similar complaints. Do not believe their claims. The broker has all the leverage, even over the liquidity provider.
 
Paul Anscombe #:

Always use a well regulated broker and ideally located in your own country.

while i agree completely; there are several regulators that respond on behalf of traders that are outside of the usual boundaries. I, personally, have frequently heard 1st hand reports of traders outside of australia that contacted the Australian ombudsman to make complaint against Australian brokers, and they persuaded the broker to make refunds of trades.

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