Hi everyone,
New member here, and this is my first post.
Today, I took a short trade on AUD/CAD with 0.6 lots. My entry point, accounting for Tickmill's spread, was 0.91168, with a stop loss at 0.91362 and a take profit at 0.90848.
The trade never came within 143 pips of my stop loss, or 123 pips when considering the bid/ask spread. I understand spreads can widen during certain events, but it would have needed a 600% increase to hit my stop loss. However, my position was closed at a £70 loss instead of a £120 gain when it supposedly hit my stop loss. Tickmill claims the price reached 0.91398 according to my MT5 app, but Trading View doesn't show this spike. I checked charts from 12 different brokers on Trading View, and none of them reflect this.
This occurred during high liquidity hours in the UK session; the trade didn’t run overnight and wasn’t taken during the Asian session. With a Tickmill spread of 1.3, even a 500% increase during high volatility should have stayed within my stop loss. I have a £3,000 live account, so margin call shouldn't be an issue.
Why would they close my position like this, and how can we trade Forex successfully if this happens? Are 500+ pip stop losses necessary, risking huge amounts for less than a 1:1 risk/reward ratio? I’ve lodged a dispute with Tickmill and am awaiting their response.
