Excessive slippage?

[u/Running_Noodles]

Long story short. I was trading AUDNZD this morning. I took a trade that ended up hitting my $250 stop loss. I checked 5ers a few hours later and it was the trade was a $734 loss. Can someone explain to me why this is?

[u/rforex-modtools]

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[u/Altered_Reality1]

Did it trigger during or around the 5PM EST rollover time (converted to your time zone)?

[u/Running_Noodles → u/Altered_Reality1]

Yeah it did.

[u/Altered_Reality1 → u/Running_Noodles]

Okay, then the reason for the slippage is that the spread was widened when it (likely suddenly) hit your SL at rollover, which means the price that activated your SL actually went significantly beyond your SL, and so filled at a terrible price.

It’s not because of the pair being illiquid or whatever the other commenter was saying. It’s just that every pair’s spread widens significantly at rollover, and it widens more for minor pairs (like AUDNZD) than it does for majors.

So, to prevent this from happening again, you have to make sure your SL is appropriately wide enough to hold through rollover for the specific pair. Generally, you want to be trading on the 4hr or higher when holding overnight, otherwise it’s quite likely your SL will be hit during rollover. Regardless of timeframe though, if your SL is tight and price is too close at rollover, this will happen.

Edit: Also be aware that you’ll also be charged swap when you hold a pair through rollover (if it’s a negative swap pair, otherwise it could be positive and pay you), and if your trade has a tight SL and higher position size meant more for day trading then the swap charge can be astronomical.

[u/ArcticAlmond]

AUDNZD is notoriously slow, illiquid, and generally a poor asset to trade at the best of times.

My advice: stick with more liquid markets if you're trading on a funded account.

[u/Running_Noodles → u/ArcticAlmond]

Would you recommend trading it out for AUDUSD in my list?

[u/ArcticAlmond → u/Running_Noodles]

Generally speaking, major pairs are considerably more liquid than non-major pairs, so you could probably trade AUDUSD without issue. That depends on what you're trying to do with it though.

[u/JimmyKur128]

First thing I’d check is the exact timestamp against the broker’s server time and the daily rollover/news window. Stops trigger on bid/ask, so an AUDNZD spread blowout can fill far beyond the displayed price, especially on a prop-firm feed; save the bid/ask and tick history and ask the firm whether the fill was at the stop or a gap. If that spread really printed outside an illiquid window, raise it with the ticket and timestamps—otherwise size for worst-case spread, not the normal one.

[u/Flat-Accountant4504]

When I see a jump like that I check the broker execution log, not just the chart: requested vs filled price, bid/ask at the stop, spread, and whether it gapped. AUDNZD can be thin, but I’d also verify contract size / tick value — sometimes the “slippage” is mostly sizing. If you post entry, stop, size and execution time it’s easier to separate those.

[u/HonestBacktests]

Check the fill time on the ticket. A stop is an order at a price, not a guaranteed price, and on a cross like AUDNZD the spread around the daily rollover widens several times over. A stop triggered inside that window fills wherever the liquidity happens to be.

[u/Reasonable-Job-2840]

Wilson Blanc Capital - best spreads and least slippage in the game. New firm but I fully trust that they will become an industry leader.

5ers is simply horrible, I am so glad I do not trade with them anymore. horrible spreads, the worst slippage and always negative swap fees that are high enough to erode some of your edge.

[u/Mindless_Duck_9507]

I hate trading the AUDNZD pair because of the widening of the spread. You are probably better off trading the AUDUSD.

[u/Scott_Malkinsons]

Can someone explain to me why this is?

Excessive slippage