I need some advice as I know you guy are very clever and have a better understanding then i do.
I am new to spread betting but today at 1:30pm GMT I was trading the while trading the German 30 Daily rolling cash using Gekko Global markets I was short 9 pound a point there was a price spike due to the US GDP figures and an automatic stop loss pulled my position at a price of 5389. Firstly the price looks incorrect as there are no decimal number also looking at GGM charts (attachment 1 & 2) for the daily rolling cash and the September futures markets, the high intraday (approx price) at the time where 5384.5 for the cash 5385.17 for the futures.
I spoke to a broker and he advised me that this discrepancy was due to the computer error and the highs for the day was 5389.50 according to bloomerg as their price are based on the Dax futures, he sent me a chart (attachment 3). My argument is that their market is a mirror of the underlying dax futures markets and price quoted are not exactly the same, I have looked at the chart he sent me and there seem to be 2 peaks one the morning where the high is 5383 approx while your high according to your charts is 5381so there is a big discrepancy between their price and the bloomberg price so they could not tell me that the price are the same.
I then received this email below stating that this was cause by a tick slippage, I dont really understand what they are saying but it seem like their Offer price should have been 5386.93 but for some reason it went to 5389.
How should I handle this, am I correct in thinking I have been cheated, what should I do next,
thanks, in advance
Following your verbal complaint, I am writing to communicate to you our decision with regards to the 1.18 tick slippage.
On 31st July at 13:30 UK Time your autostop on the Germany 30 Daily Rolling Cash was filled at 5389.00, stake 9 GBP per point. The order price of the latter was 5387.82.
As explained, our charts show our bid price not our offer price, upon which your buy autostop was based on.
At the time your autostop was triggered, our chart shows a high bid of 5384.5 but when you apply the spread that will equate to 5386.5 for our offer price during normal market circumstances. However, having being trading over US GDP figures a wider spread was applied, resulting in 5389 being a valid level to be stopped out at.
If you are unsatisfied with this decision please refer the matter to us within 8 weeks.
Please refer to our complaint procedure on our website.
.
Many thanks
I am new to spread betting but today at 1:30pm GMT I was trading the while trading the German 30 Daily rolling cash using Gekko Global markets I was short 9 pound a point there was a price spike due to the US GDP figures and an automatic stop loss pulled my position at a price of 5389. Firstly the price looks incorrect as there are no decimal number also looking at GGM charts (attachment 1 & 2) for the daily rolling cash and the September futures markets, the high intraday (approx price) at the time where 5384.5 for the cash 5385.17 for the futures.
I spoke to a broker and he advised me that this discrepancy was due to the computer error and the highs for the day was 5389.50 according to bloomerg as their price are based on the Dax futures, he sent me a chart (attachment 3). My argument is that their market is a mirror of the underlying dax futures markets and price quoted are not exactly the same, I have looked at the chart he sent me and there seem to be 2 peaks one the morning where the high is 5383 approx while your high according to your charts is 5381so there is a big discrepancy between their price and the bloomberg price so they could not tell me that the price are the same.
I then received this email below stating that this was cause by a tick slippage, I dont really understand what they are saying but it seem like their Offer price should have been 5386.93 but for some reason it went to 5389.
How should I handle this, am I correct in thinking I have been cheated, what should I do next,
thanks, in advance
Following your verbal complaint, I am writing to communicate to you our decision with regards to the 1.18 tick slippage.
On 31st July at 13:30 UK Time your autostop on the Germany 30 Daily Rolling Cash was filled at 5389.00, stake 9 GBP per point. The order price of the latter was 5387.82.
As explained, our charts show our bid price not our offer price, upon which your buy autostop was based on.
At the time your autostop was triggered, our chart shows a high bid of 5384.5 but when you apply the spread that will equate to 5386.5 for our offer price during normal market circumstances. However, having being trading over US GDP figures a wider spread was applied, resulting in 5389 being a valid level to be stopped out at.
If you are unsatisfied with this decision please refer the matter to us within 8 weeks.
Please refer to our complaint procedure on our website.
.
Many thanks
