Just in case you've been living under a rock for the last two months, Brexit trading has made things scary in markets
We've warned, and will continue to warn about the risks surrounding trading Brexit until we're blue in the face.
At Forexlive it's our mission to make sure that our traders have the best protection we can offer and so we've been looking at services that may aid that cause.
We've teamed up with Tradeproofer.com to provide you with a free trade proofing tool that they've made available during Brexit;
"TradeProofer.com, a forex trader community, has made public their members-only monitoring tool available over Brexit. With this tool, all traders can benchmark their trade fill prices against 50+ brokers' aggregated quote, no community membership is required.
It's always hard to tell whether a poor trade execution is due to general market conditions or it's just the broker fooling the helpless trader. With TradeProofer's tool one can render a second-by-second candlestick chart based on community members' aggregated data and check 50+ brokers' aggregated quote in quasi-realtime. TradeProofer's tool can be a game-changer when disputing trade executions after the dust has settled.
The tool is up and running on the following site:
TradeProofer also offers custom Expert Advisor for MT4 users that can upload quotes and trade history and get them proofed seamlessly. They added "We more than welcome community members running our EA. The more data we get the more accurate our proofing services become."
As with all tools and services, you should take them as you find them. ForexLive makes no promises about the accuracy or what you should or shouldn't do with the information provided. We have no affiliate deal or connection to TradeProofer.com, only that I met one of their guys once at a tradeshow. And a lovely fellow he was too. If you need further information about the tool then you can have a mooch around their website.
One thing to note. This tool is potentially great when it comes to checking fills in normal markets. We are not currently in a normal market. This could be an SNB type event on a smaller scale, and you have been warned repeatedly about possible liquidity holes and of the high risk that spreads and fills could be all over the place. I would once again urge you to take a long look at your trading account balances and this warning, and ask yourself whether with all the information you've got at your disposal, if it's wise to think about trading over this event. I don't want to be hearing of any disaster stories come Friday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.