Price closes before reaching SL and TP

Forex trading
E
erwin tembesi
27 Mar 2023, 17:04 1,518 Views
Several times I have opened positions in InstaForex, the price has not yet touched the stop loss and closed, the take profit has also touched its point but has not been closed. This does not happen often but I have experienced it several times, is this one form of cheating by the broker?

4 Answer

R
rachmat 29 Mar 2023, 07:24

To Erwin Tembesi,

What needs to be considered is the spread from the Bid-Ask. TP / SL will be touched if the price actually exceeds it, along with the distance of the spread. This could be due to slippage or a Gap on your order, so it doesn't touch the order/TP/SL.

This has been discussed in previous Q&A.

Q&A 1
Q&A 2
Q&A 3

To add other insights, you can listen to other reviews at:

6 Ways Forex Brokers Can Cheat You
Don't Underestimate the Impact of Slippage
3 Facts About Stop Loss Hunter
Various Gaps.

Thank you.

M
Martin 24 Aug 2023, 23:15

@ erwin tembesi:

Could you explain what position you opened? Buy or sell?
If you open a buy position, then the reference for SL and TP is the Bid price. Conversely, if you open a sell position, then SL and TP refer to the Ask price. Meanwhile, what is displayed on the Metatrader chart is the Bid price.
Perhaps you could investigate further.

 

R
Rizki Rosadi 04 Sep 2023, 07:15

Answer to Erwin Tembesi: I personally have the same experience with the broker you are using. And that experience is also one of the reasons why I haven't used it since 2013.

In short, there is fraud that is less visible to beginner traders, especially those who are not careful with their transactions.

My advice is to immediately screenshot each of your positions when opening and closing, both the chart and the transaction order details. Do 5 to 10 transactions so that the data is more valid.

From this data you have valid evidence to protest against the broker. Please contact customer service and ask why this could have happened.

E
Erik Tri Cahyo 20 Sep 2023, 13:13
To Erwin Tembesi,

What position was open previously? If you feel you have been cheated and have strong evidence, you can first try to complain to the customer service of the broker in question.

Hopefully this can help.

Add Answer

Loading editor...
Back to Forum

Forum

view all

Broker Testimonial

view all