Order closed at the different price from the stop loss level in FBS MT4. Why is this?

For several reasons, it often happens that an order is executed at the different price from the one you are looking at or the price you have previously set in MT4.

Please note that if your broker is a Market Maker or applies Dealer Plug-in, this execution difference may occur all the time all many traders.

Since FBS is a STP broker and doesn’t interfere or manipulate positions of traders, that wouldn’t be the case.

If your Stop Loss orders were closed at the different price from the set price, the reason may be one of the below.

ASK/BID price

You might be looking at the ASK price when you need to order for sell position, or vise versa.

Please note that ASK price is for buy orders and BID price for sell orders, and by default MT4 chart is showing only BID line.

So ASK price should be above the BID line and you wouldn’t know the ASK price if you don’t see the Market watch.

To display the ASK line in the MT4 chart, please right click in a chart and select “Properties”⇒”Common”⇒”Show Ask line”.

Slippage

Even if you have set the executed price before, slippage could happen.

Slippage happens especially when:

  • Trading larger lots like 20 – 30 lots
  • Important News is released

Slippage is a common knowledge for traders that could happen to any trading markets where money liquidity is needed.

Unfortunately traders cannot say anything regarding this liquidity and slippage, as it is not controlable by brokers.

Around Weekends

There are some moments where there is a price gap in the chart.

This happens because there is simply no liquidity in these prices, and it could happen in certain situations which are:

  • Around Weekends(the closing price on Fridays and the opening price in Mondays)
  • Contract expiration dates(only futures CFDs)

There is a price gap around weekends because all accumulated orders during the weekends will be executed at the opening on Mondays.

MT4 Price Gap

If you have set the stop out level within the gap, your stop loss will be triggered at the different price.

 

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