Wednesday, November 16, 2011

Check your broker

I have been browsing through the charts and came across something that really puzzled me.Look at a chart on the NZD/USD.Now,on one broker it went all the way to 7320's while on most broker feeds it is still around 7600.You have to check your broker.This is a clear case of a broker going stop hunting.The wick on the tail is too long for any broker feed.
 Other brokers are still higher.

This same broker has had cases in court for some of these reasons and had to compensate some clients I think in the beginning of the year.
It is for this reason that you should know your broker well and compare feeds between them.In most cases, you have brokers going for your stops only to turn and move to where your take profit was. I find this very prohibitive in terms of business relations with the clients.Very sad indeed.

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