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Resolved
The platform's gold price and market price current price slippage is extremely high!
Mediating Parties
Mitrade Mitrade
Issue

Severe Slippage

Requirement

compensation

Settlement Amount

$300(USD)

Time

42 day 17 hour

Mediation Status
Automatic completion after timeout
WikiFX Mediation Center
30 calendar days elapsed after the broker’s last response. Without user follow-up, the ticket auto-updated to Resolved. Resubmit feedback if you dispute the result.
Reply
Mitrade
We have checked the trading history of that user. The main losses occurred on August 23rd due to significant fluctuations in gold prices that evening. We reviewed the user's liquidated orders and compared them with the market quotes from competitors on that day, and found no significant discrepancies that would indicate slippage leading to losses. During that period, our quotes were continuous. The user’s sell order was liquidated before the market reached its highest price. Looking at the hourly chart from 10 PM on the 23rd to 2 AM on the 24th, there were substantial fluctuations in gold prices. The user did not set a stop-loss; they only set a take-profit.

Reply

Appendix
Mike Lee
On August 23rd, the slippage was abnormal, which caused my position to be forcefully closed! I am requesting compensation of 3,000 USD, which is the correct amount of my loss.

Appendix

Contact Broker
WikiFX Overseas Customer Service

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Verified
WikiFX Mediation Center

Verified

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Mike Lee
Same as above! Resulted in forced liquidation, loss of $37,000♈

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