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BIG problem on C2 AutoTrade Platform

#1

Hi All,

There was a BIG problem on C2 AutoTrade Platform today.

I’ve had 2 open positions sell GBPNZD @1.94665 (yesterday) and adding 1 sell position @1.92953 today. Both positions were set SL @1.9355.

Suddenly both positions closed @1.9350 even the highest price was about 1.593x at that moment.

I have chat with Mr. Marc and he said “It looks like one of your autotraders was filled at 1.93592 which set the stop off”.

I have asked him to reopen my trades but he said “We can’t reopen the trades, those are live fills reported by autotraders. NFA regulations explicitly prohibit us from doing that”

The questions are:

  1. The market price was never hit my SL so why it’s closed below SL price?
  2. Why one of my autotraders was filled at 1.93592 but WHY all the other autotraders and my trades on C2 platform automatic close too?
  3. What’s the real reason behind this problem?
  4. The risk was not comes from Trader but from Brokers (and/or) from C2 AutoTrade Platform!?

PS: Stay away from FXCM AU (the broker was filled at 1.9359) while Interactive/Oanda Brokers was 1.9320x at that moment.
PPS: The GBPNZD market price now @1.9220 while I am typing this.

Safe trading.

#2

92953

AutoTrade%20Platform

#3

@Swing-Trader, that actually happens regularly due to the lack of a central quoting board in forex. Different forex brokers tend to quote different prices.

This is why scalping in forex can be difficult depending on the various brokers.

#4

If so, it just close trade at a broker (FXCM AU) who was filled at 1.9359 only.

WHY all the other autotraders (at Interactive/Oanda) and my trades on C2 platform automatic close too?

#5

I think C2 tends to try and centralize it. I may be wrong but I think thats what they do.

In other words, everyone has to be in sync.

1 Like
#6

C2 should make a separate each follower in each “port”. Make sure not close all at once like that.

Btw, don’t work with FXCM any more because they use SL hunting as you see.

#7

I afraid FXCM hunting SL so I don’t move SL to BE… :money_mouth_face:

#8

Your explanation sounds plausible. It’s been 2 years since FXCM was shut down and permanently banned in the US. So if just 1 autotrader (non-U.S.) chooses FXCM AU and if one stop hunt occurs, then everyone gets dragged down in the mess by the C2 platform making it the “same” for everyone.

1 Like
#9

It is not fair for each subscriber when invest and pay the subscription fees with their own money but must limit their profits by another bad broker (FXCM).

Mr. Matthew Klein, please explain.

Thank you.

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