I was stopped out 25/5/2009 on sgx, I had a stop loss placed with GFT on a long trade @ $5.94.
According to my Live feed from the ASX, and checking with the ASX web site, Macquarie Prime, CMC markets the lowest this stock traded at on the 25/5/2009 was $5.99.
GFT advised they dont operate on actual share sales they work on bid and ask prices only.
So if someone places trade / order in the real market relises a mistake and cancells their order before the order gets filled ....GFT will use this bid / ask to trigger your stop loss or buy order.
Sounds a pretty dangerous way to trade to me as there could be large gaps in the bid and ask price without any trading being done....but GFT is going activate your orders based on bid and ask prices without the stock being traded!
This enlightened me to go back to trading real shares, or CFD with direct market access.
Not a market maker!