Misleading documentation
Misleading documentation
23 Mar 2021, 10:33
The cTrader documentation says "A Limit Order guarantees to fill the order with a price equal to or better than the expected one."
https://help.ctrader.com/ctrader/trading/orders
However, recently I got large slippage on a limit order. The broker support just replied that the limit price is a trigger level for a market orders. Is this intended cTrader behavior or is the broker handling orders wrongly?
If it is intended then the cTrader documentation is very misleading and should be changed since it pretends that cTrader provides real limit orders.
Replies
matteoID
23 Mar 2021, 11:16
RE:
PanagiotisCharalampous said:
Hi matteoID,
"A Limit Order guarantees to fill the order with a price equal to or better than the expected one."
This is the definition of the limit order and this is how we pass it to the liquidity provider. If your limit order was not executed by your broker as a limit order, then you should talk to your broker.
Best Regards,
Panagiotis
Thank you for your response. As I wrote before I did ask the broker (Pepperstone in this case) and they said that all cTrader orders are executed as market orders in their liquidity pool.
@matteoID
PanagiotisCharalampous
23 Mar 2021, 11:40
Hi matteoID,
So it is a broker issue.
Best Regards,
Panagiotis
@PanagiotisCharalampous
matteoID
23 Mar 2021, 12:04
RE:
Ok thank you very much for the fast response. Still it is a bit disappointing if you write a strategy based on the documentation just to learn that it is not true. Maybe adding a sentence to the documentation that it is broker dependent would make sense. Other brokers said that they use real limit orders, so it seems to work on some at least.
@matteoID
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PanagiotisCharalampous
23 Mar 2021, 14:09
Hi matteoID,
Maybe adding a sentence to the documentation that it is broker dependent would make sense.
We cannot do this because this should not be the case. It's like using an app to order pizza and you get chicken wings delivered instead. This should simply not happen, not added to the app's documentation :) It is something you really need to discuss with your broker.
Best Regards,
Panagiotis
@PanagiotisCharalampous
matteoID
23 Mar 2021, 17:47
( Updated at: 23 Mar 2021, 17:57 )
RE:
PanagiotisCharalampous said:
We cannot do this because this should not be the case. It's like using an app to order pizza and you get chicken wings delivered instead. This should simply not happen, not added to the app's documentation :) It is something you really need to discuss with your broker.
I understand. Still, Pepperstone as one of the most used cTrader brokers seems to prefer chicken wings and a complaint by a single customer won't make them buy a pizza oven. Maybe Spotware could check this with them because if limit orders don't work correctly it also casts bad light on the whole "we are better than MT4 story".
Anyway, I will just use other brokers. Thanks again for clarifying this from the cTrader side.
@matteoID
PanagiotisCharalampous
23 Mar 2021, 11:08
Hi matteoID,
This is the definition of the limit order and this is how we pass it to the liquidity provider. If your limit order was not executed by your broker as a limit order, then you should talk to your broker.
Best Regards,
Panagiotis
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