So who hasn't lived through the day ))) - page 8
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Now for the spread. If the "non-market quote" is the spread, you can easily threaten the prosecutor's office.
Most brokerage companies are registered in offshore jurisdictions and cannot be intimidated by the prosecutor's office.
Let's separate the flies from the cutlets.
There are futs on GBP/USD = 1.2070
And where do the forex prices come from?
Well look at the picture above on the spread and we see 600 pips. What does it mean? It's banal, but at the price that you see in the terminal, you cannot close the position, using either SL, or hands, or an Expert Advisor! We set a spread of 600 points and a lot of positions are automatically closed 600 points below the market price.
Everything that is lower than 1.2070 is a profit for the brokerage company!
Therefore, we return to the idea of claiming on non-market quotes. By the way, when I was discussing this outlandish civil code concept with DC, they claimed that they did.
Now for the spread. If a "non-market quote" is a spread, you can easily threaten the prosecutor's office.
At first I thought the broker had a glitch, looked at the account and there it was... +390 points of profit.
I hope it counts.
Most of the DCs are registered in offshore jurisdictions and cannot be intimidated by the prosecutor's office.
Yeah, okay. Unfortunately you can't name them, but you can look them up yourself. There must have been a second one in the country and now you can't hear it. The point is that after visiting the office of such an office, all the clientele will scatter.
I urge to fight it. We need to wean DCs off the trough called "spread=600 pips". What happened tonight will be the norm for the next few years.
That's what it's all about. But how to prove it. There is no reliable data (evidence) in the terminal. They will deny it. And circumstantial, that the bid was 500 pips below the market (four digits) - it's not proof. I think so.
No need to prove.
1. rely on futures quotes.
2. Read the contracts/regulations carefully. If there is a concept of " non-market quotation", go ahead.
Yeah, okay. Unfortunately you can't name it, but you can look it up yourself. There must have been a second one in the country, and now you can't hear it. The thing is, after visiting the office of such an office, the whole clientele will scatter.
I urge to fight it. We need to wean DCs off the trough called "spread=600 pips". What happened tonight will be the norm for the next few years.
When we had a similar situation on one brokerage company forum, we were asked why it happened - liquidity providers provided such quotes and brokerage company has nothing to do with it.
...
If the liquidity provider says that it is not a market quote they cancel deals, if not, they leave it the way it is.
Let's separate the flies from the cutlets.
There are futs on GBP/USD = 1.2070
And where do the forex prices come from?
Well look at the picture above on the spread and we see 600 pips. What does it mean? It's banal, but at the price that you see in the terminal, you cannot close the position, using either SL, or hands, or an Expert Advisor! We set a spread of 600 points and a lot of positions are automatically closed 600 points below the market price.
Everything that is lower than 1.2070 is a profit for the brokerage company!
Therefore, we return to the idea of claiming on non-market quotes. By the way, when I was discussing this outlandish civil code concept with DC, they claimed that they did.
Now for the spread. If "not a market quote" is a spread, then you can easily threaten the prosecutor's office.
The kitchens have their own game. There's no getting away from it. It's good that there are even those for the small-money ones.))
I don't think big money is invested in DCs. Somewhere I saw a figure of 2K on average. When losing small sums, I'm not sure anyone will start legal proceedings, realising they're a fool themselves.
My broker, at first I thought it was faulty, but then I looked at my account and there... +390 points of profit.
I hope it counts.
You may calculate it accurately.
No need to prove.
1. rely on futures quotes.
2. Read the contracts/regulations carefully. If there is a notion of a "non-market quote", go ahead.
No need to prove.
1. rely on futures quotes.
2. Read the contracts/regulations carefully. If there is a concept of a" non-market quote", go ahead.
Well, they will refer to the spread, that it was 1000 at that moment. The spread is floating, and there is no upper limit on it according to the contract, is there? And they spit on their image when it comes to serious money (for example). And midmarket = (ask - bid) / 2 = market quote. And you can't prove anything there))
Look again at the GBPUSD minute chart carefully. On the very first bearish candle the spread is normal, normal at this time of day. In other words, this snot is not the shenanigans of the Dets with manipulation of spreads, it is the MARKET price (price at all brokers), which collapsed with lightning speed. And already on subsequent candles the spread has widened.
I believe that this is a systemic (independent of market participants) phenomenon and there can be no "investors sold the pound in panic" because there is no volume on this snub. This kind of snub can occur in any pair.