dylan265•15d agoMost Upvoted

Switched brokers after a bad fill cost me $200 on a trade last week

I was trading with SuperForex for about 6 months and never had issues. Last Thursday I placed a market order on EUR/USD and the fill was 3 pips worse than the quoted price. That slippage cost me almost $200 on a standard lot. I contacted their support and they said it was normal during high volatility. But I checked other brokers at the same time and their fills were way tighter. So I moved my account to IC Markets and the difference is night and day. Anyone else had bad slippage with a broker you thought was solid?

2 comments

2 Comments

wade43815d ago

Three pips cost me $200 once too, changed my mind about broker slippage.

troy_gibson4315d agoMost Upvoted

So are you sure it was the broker and not just bad luck with timing? Market orders during high volatility are always a gamble. You get whatever the liquidity providers give you. IC Markets is ECN too so they can have slippage just like anyone else. You probably just caught SuperForex on a bad day. Three pips is nothing compared to what some traders lose on spreads during news events. Most platforms have disclaimers about this. Maybe you should have used a limit order instead. That's on you, not the broker. Brokers get blamed for stuff that's really just how forex works. Check your contract next time before getting mad.