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GBPUSD Spike – explained

Hi everyone!

We owed you an explanation re the GBPUSD spike below on Tuesday:

I hope this explanatory article we wrote on our blog proves useful, please feel free to contact us should you have any question in this regard.

Trade safe,
Ignacio

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I read the article in the blog with explanations of the reasons and the subsequent actions of the Darwin.
BRAVO, DARWINS !!!
I am so glad for your openness and honesty (+ how well the excellent trading conditions are) that tonight I’ll raise a separate cognac toast for Darwin. :sunglasses:

BRAVO !!!

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Thank you so much, @Sergey5, you just made our day!

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Hi all.
I was one of those who had his stop order triggered. It made a damage of course to statistics of my account as well as to investors, some of whose confidence decreased further. I was really upset with what happened, but I read the article, that explained everything and I want to thank the team for doing this.
There are few things I want to add though.

  1. In the article you mention that limit orders were triggered. I think it was stop loss orders not limit.
  2. If what happened was indeed like so, which is fair and square and all of us has no reason not to believe it, why did you correct the chart? It should remain like it was (in my opinion).
  3. Why compensate if everything is justified. Especially in my case, when I was compensated only in part. Which is even more confusing. And explanation of some of your colleagues why it was like that was also beyond my understanding.
  4. I think I read a clear message about abusing the colleagues. I hope I didn’t fall into that category)). If I was a bit harsh, I am sorry, but to be fair they weren’t clear enough and in my defence you have to thoroughly read our chat again to see it. In any case I am sure I spoke professionally more or less. If some of darwinex team feels abused, again - I am sorry.
  5. In general I am satisfied with the explanation but not with some of the decisions made in the aftermath.

Just wanted to make an input. I felt like I had to.
Thanks.
Have a lovely day ahead and peace to all.

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Thank you, @AndromedaHydra!

  1. I will have the post updated re SL (I think the post meant pending orders, but specifying these were SL makes more sense).
  2. The charts were not corrected, as far as I know, where they? They should show the spike.
  3. Although things were “technically” fair, we understand it’s not fair to make you pay the mess caused by someone else… Re “partial compensation”, we had the trades closed at the price they should have been if no spike had occurred. Unfortunately, we cannot re-open trades, each of the affected traders could have opened new positions if they were still interested in going long the GBPUSD.

Once again, thanks for your contribution, @AndromedaHydra, have a great weekend ahead!

Best,
Ignacio

P.S. You have been always nice to us, no one felt abused by you! We wish everyone was as nice as you have been all the way long!

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This is another reason I love Darwinex. The majority of brokers would have just given a fob off ‘that was the price, go away’ type answer to queries about price movements. Its great to see an honest and in depth review of what happened, the cause and effect. Keep up the great work guys! :slight_smile:

One thing that has come to mind, it would be cool if we could know how big the position was the wiped out all the liquidity? I’m guessing you probably can’t say but if you can it would be interesting to know.

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We did fully refund ALL other customers affected

How to say ? Wow ! :astonished:

A chance the staff whitch made the decision work at Darwinex, otherwise it could be fired for that. :grinning:

Congrat Darwinex!

A question - may be it’s stupid - if it’s usual that there are some trouble few minutes before NY close, why not closing Darwinex market 5 mn before ?

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Very interesting information. Thanks for your honesty.

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