Beware - Order fill glitch screwed me
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Thread: Beware - Order fill glitch screwed me

  1. #1
    That is with GFT

    I moved through discussions with their trading desk about this and I have arrived at the conclusion their trading platform has a glitch that may screw you.

    I noticed I had an open position following my stop was passed, the losses had been adding up.

    I entered a Close All order to close my open position.

    I noticed somehow I had a new place open. I closed this new place.

    I asked their trading desk about this. Apparently, their egy puts you in a new position once you triggered the Close All work when you have a stop order set. They said I should have called them.
    Are you kidding me? I'm supposed to see my money flow out of my account while I'm on the phone trying to reach a broker? I'm supposed to presume the Close All selection puts me in a new position rather than shutting all of my open positions?

    My advice, never trade with GFT if there is any market volatility in any way. You should also call your rep to experience every order entry and exit work with a comprehensive explanation of how they operate.

  2. #2

  3. #3
    Was this GFT in UK or the United States?

  4. #4
    OMG!!!

    I just discovered this broker today and was loving what I was seeing and on precisely the exact same day I discover that this broker that this gets posted. Smh

    I'll have to keep my eye on this thread. Is there anybody else who has some expertise with GFT (American) bad or good?

  5. #5
    I have always enjoyed GFT's platform but their execution isn't really great.

    BTW if what you state is accurate. This might be the very first instance posted on here where if submitted into the NFA the complaint would be honored by the NFA and the NFA would make GFT fix the issue. Are there any disclaimer saying the Close All button will start a new place if there's a stop order pending? 1 additional thing any broker or desk will tell you if there's an problem with a trade which you close the position and after that call. This makes you a lot more believeable and makes it a lot easier for the desk to offer a charge; IMO you did the right thing. Best of luck for a resolution that is better!

  6. #6
    I use GFT an have not experienced this. . Are you certain you understood them? I don't have any problems with GFT. I also don't know another comment about execution. I have been requoted a couple times during economic announcements but I always get filled.

    I'd call to confirm exactly what you feel you heard.

  7. #7
    Quote Originally Posted by ;
    I use GFT an have not experienced this. . Are you certain you understood them properly? I don't have any difficulties with GFT. In addition, I don't know the other comment about execution. I've been requoted a few times during economic statements but I always get filled.

    I'd call to verify exactly what you feel you heard.

    Clif
    Clif,

    I tried GFT about 3 decades back and the execution was slow or I got requoted as much as 5-7 pips on market orders for EURUSD. NY hours on orders dimensions that were everywhere from 2M to 5M each order. However, should they have got better since I haven't heard of it and if you enjoy them I hope you continue to do well with them. All the best!

  8. #8
    I talked with GFT about the phone many times about this, made them send me e-mails with order particulars etc., etc., etc.. I argued with them that there must be a problem with their system if what they say is true.

    In detail: I discovered my stop price obtained passed by and my screen indied the position was still open. I instantly picked the Close All function to get me from the situation. I discovered I had a new long position open and that I closed it.

    They inform me the stop order was triggered but did not execute yet and my attempting to close the position by selecting Close All put a long buy order to shut the position (I was short). They said the delay in implementation resulted from price movement.

    I contended and always will that there shouldn't be any way selecting the Close All work must open a new position at any time in any circumstance. If it does this, there is a glitch in their system. They stated their system served as it should have and that I must haven't tried to shut the order but if have called them. Like I will sit and watch a transaction go against me while I try to find someone on the phone to inform me who knows what. For all I knew, if I'd have done nothing and called them they could have just as easily told me I must have closed the position immediately rather than watching the money flow from my account.

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