I also wrote a review on Forex Peace Army which would be helpful for other users but it hasn't been published yet. So writing my experience here-
Excellent - You can contact GP and their response is fast. You can contact them regarding anything to your account and they reply fast. It is very important that you can communicate easily with speed to your broker.
Bad - Most of my Stop Loss orders were executed with negative slippage of few pips during normal trading hours. This results in a bad risk reward ratio. At the end of the day those few pips of negative slippage adds up to your losses. Take profit orders were mostly executed on price set with very few having positive slippage. But the number of time negative slippage occurs is a way lot more than positive slippage.
Bad - I was charged £12 each for two withdrawals and £6 for another. As per GP these fees are charged by intermediary banks.
Finally I am sharing this so that prospective traders can make informed decisions. Now different traders have different needs which they look for in a broker. Always do your own research thoroughly and extensively to see what clicks for you before putting money to any broker.
That is likely because of where you placed the stops vs TP. If the broker is running a-book, there is little control over where you get filled. You must remember that slippage is caused by the difference between the quoted price and where it is actually filled. If you are trading WITH momentum (which a stop loss is), then the slippage will likely be negative a lot. A stop loss is simply a pending order that becomes a market order when it is touched. They can trace the order and see how long it took at each checkpoint. If anything is unusual, they can then take it up with the LP or even fire an LP if their last look is too long or improperly configured.
If you trade counter-trend (against the momentum), the slippage is positive a lot of the times.😎
I just did a withdraw and saw that I was charged 0.00 additional when it arrived. But when I deposited money, the bank that was used wanted $30 USD in estimated intermediary fees ON TOP OF $45 standard int'l wire fee. It can work both ways and it depends somewhat on bank's relationships with other banks. Au banks tend to be good at covering all intermediary fees. USA banks tend to be terrible. Banking system in general is full of sh*t anyway. So what can we do?
And GP has always been very fast with replies. And generally very transparent with their explanations. Other brokers (even in Australia) should take notice and stop trying to churn/burn their clients.😎
Are your trading systems fully automated?