500+pips of slippage, is it normal?

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1 lot of Short position X30,

Sell @47010.10 

S/L set @47010.13

closed @47105.50

realized P/L -$5.40

500+pips of slippage during non-volatile period, usually P/L will be -$0.03........


Super weird.

 
Only 3points stoploss on US30? That's crazy.

Perhaps your position got margin called and closed due account's balance drawdown.

Did this happen during new day open or close?

But replying to your question, no, it's not normal to see that big spread.
 
Guillermo Pineda #:
Only 3points stoploss on US30? That's crazy.

Perhaps your position got margin called and closed due account's balance drawdown.

Did this happen during new day open or close?

But replying to your question, no, it's not normal to see that big spread.

Thanks for noticing, 3point stoploss seems crazy but logical in my case;

It was not a margin call;

It happens around more than 1 hrs before market close.

And it's not the first time I have this kind of problem, several times when i place mkt order but executed price was way off, and of coz a price not to my advantage.

 
titoni #:

Thanks for noticing, 3point stoploss seems crazy but logical in my case;

It was not a margin call;

It happens around more than 1 hrs before market close.

And it's not the first time I have this kind of problem, several times when i place mkt order but executed price was way off, and of coz a price not to my advantage.

I think that there may be some confusion here. The US30 is an ETF (exchange traded fund--actually more than one) in the U.S., while the XUS30 is likely an OTC (over the counter) CFD (contract for difference) in Canada. Liquidity is lower in captive CFD pools than in centralized exchanges. This likely explains the execution risk involved in trading XUS30 one hour prior to the close. The not so simple solution is to either (a) trade the ETF (or maybe CME Futures), or (b) find a CFD broker-dealer with better execution, liquidity providers, etc.
 
Ryan L Johnson #:
I think that there may be some confusion here. The US30 is an ETF (exchange traded fund--actually more than one) in the U.S., while the XUS30 is likely an OTC (over the counter) CFD (contract for difference) in Canada. Liquidity is lower in captive CFD pools than in centralized exchanges. This likely explains the execution risk involved in trading XUS30 one hour prior to the close. The not so simple solution is to either (a) trade the ETF (or maybe CME Futures), or (b) find a CFD broker-dealer with better execution, liquidity providers, etc.
I never had this kind of problem ever since I open this account since 2019, it only gets weird since the last two months, several times even my limit order was fulfilled with huge slippage, and odd enough, in all those occasions the fulfilled prices were to my disadvantage.
 
titoni #:
I never had this kind of problem ever since I open this account since 2019, it only gets weird since the last two months, several times even my limit order was fulfilled with huge slippage, and odd enough, in all those occasions the fulfilled prices were to my disadvantage.

At this point, I have to recommend some investigating. In the States, traders have a right to request and receive a Transaction Data Report from their broker-dealers. In it, I get my trade executions shown along with all surrounding trade executions. Last time I checked, the time allowed for a broker-dealer's response was a half hour.

I would be surprised if Canada doesn't have a similar rule. A quick search turned up CIRO, but I don't see any reference to such reports there. Your broker-dealer's written trading agreement/disclosures should probably state if you have such a right, although I wouldn't rely on it 100%. I'm 99% sure that CIRO can tell you how to proceed.

FYI... I've encountered worse conduct in the States while trading standard GBPJPY lots. Any broker-dealer's management and ownership can change overnight. As a result, ethics and goals can change overnight.

On the other hand, it could merely be a tech glitch.

The Report will tell you.

 
Ryan L Johnson #:

At this point, I have to recommend some investigating. In the States, traders have a right to request and receive a Transaction Data Report from their broker-dealers. In it, I get my trade executions shown along with all surrounding trade executions. Last time I checked, the time allowed for a broker-dealer's response was a half hour.

I would be surprised if Canada doesn't have a similar rule. A quick search turned up CIRO, but I don't see any reference to such reports there. Your broker-dealer's written trading agreement/disclosures should probably state if you have such a right, although I wouldn't rely on it 100%. I'm 99% sure that CIRO can tell you how to proceed.

FYI... I've encountered worse conduct in the States while trading standard GBPJPY lots. Any broker-dealer's management and ownership can change overnight. As a result, ethics and goals can change overnight.

On the other hand, it could merely be a tech glitch.

The Report will tell you.

Thanks for the advice, I will contact the broker.

 
Ryan L Johnson #:

At this point, I have to recommend some investigating. In the States, traders have a right to request and receive a Transaction Data Report from their broker-dealers. In it, I get my trade executions shown along with all surrounding trade executions. Last time I checked, the time allowed for a broker-dealer's response was a half hour.

I would be surprised if Canada doesn't have a similar rule. A quick search turned up CIRO, but I don't see any reference to such reports there. Your broker-dealer's written trading agreement/disclosures should probably state if you have such a right, although I wouldn't rely on it 100%. I'm 99% sure that CIRO can tell you how to proceed.

FYI... I've encountered worse conduct in the States while trading standard GBPJPY lots. Any broker-dealer's management and ownership can change overnight. As a result, ethics and goals can change overnight.

On the other hand, it could merely be a tech glitch.

The Report will tell you.

This is the reply i got:

"Once again I would apologize for what happened, our relevant department informed us that a temporary issue with our liquidity provider have caused the slippage.

I would like to inform you that a reimbursement has been deposited in your trading account."

They did reimburse me two times regarding 3 occasions of exortic slippage. 

 
titoni #:
This is the reply i got:

"Once again I would apologize for what happened, our relevant department informed us that a temporary issue with our liquidity provider have caused the slippage.

I would like to inform you that a reimbursement has been deposited in your trading account."

They did reimburse me two times regarding 3 occasions of exortic slippage. 

Excellent! Well done.👍

I wonder if they'll permanently fix it after the 2nd time/3rd instance. If the LP is putting small orders at the back of the queue, there might not be a fix. This is more the rule rather than the exception in OTC markets.

 
Ryan L Johnson #:

Excellent! Well done.👍

I wonder if they'll permanently fix it after the 2nd time/3rd instance. If the LP is putting small orders at the back of the queue, there might not be a fix. This is more the rule rather than the exception in OTC markets.S

Anyway, as long as they reimburse me my loss, at least i still have the confidence to place order.

 
titoni #:

Anyway, as long as they reimburse me my loss, at least i still have the confidence to place order.

but how many times has it happened and you didnt notice? in Australia, both brokers and liquidity providers have been given 6 figure fines for such events.
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