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Exposing MT4 Scams - Brokers Plugin!

  • #61
  • Oct 11, 2015 5:16am Oct 11, 2015 5:16am
Quoting Lacunoide
{quote} I can tell my experienbrokerh a Market Maker bonus broker, when I was loosing money I generally had a very bad excution (not always) I got a lot of delays and requote... And the particular thing the the worst requote delay was on profitable trades.... When closing a red trade never a problem :-) But, when I started to be profitable the execution changed.... And I didn't have any problem (actually was really good!). I can tell you that the requote and problems disappered totally .... So, I think the A-BOok and B-book is real. So, i am pretty...
So when you are profitable... You are A book....would the broker hunt you more? To save themselves more money.Or they hunt the b's as the losers are maybe more new to trading perhaps
  • #62
  • Oct 11, 2015 5:31am Oct 11, 2015 5:31am
While we are talking about brokers...posted this on the Ic market thread in commercial section....no replies....post it here if you're keen to reply ....anyone. The talk was about through processing and brokers not trading against the client.

I understand that they can make money from commissions by passing your orders to the market etc. But, lets say that you made good trades and a decent profit and wanted to make a withdrawl....the broker has made 10 dollars on commissions for your trades....say 100 dollars for ten trades....you have made 1000 dollars profit in your account from these trades.

Since they have "not been dealing against you" they have not hedged their risk...just passed orders on to market....so......the next step.....

You withdraw 1000 from IC markets....where is your money coming from....out of IC markets pocket....or has it come from the market into IC markets account. Guess that makes sense if it works like that. IC Markets actually wins by having this money come into their account as I am sure it sits somewhere getting interest, till people withdraw anyway.
  • #63
  • Oct 11, 2015 6:04am Oct 11, 2015 6:04am
I think its time to cut FXCM some slack... by and large...i would trade with them.. they stable.. etc... and rank high on my trustworthy scale....
practising coitus interruptus
  • #64
  • Oct 17, 2015 5:02pm Oct 17, 2015 5:02pm
Honestly I cant believe this isn't being talked about more frequently, thank you going against the herd on this one.

I was recently at a conference for our research firm. Several fund managers were in attendance, most of which had a primary focus on short - to mid term strategies, (we're talking 1-15 minutes max time in a trade).

When the discussion about MT4 was brought up they were basically laughing at the fact that so many traders use it. According to to an affiliate of S&Q capital ( which is in data and analytics) it is virtually impossible for a broker to be transparent using that platform. It was essentially built for brokers to make money, and thats why its so widely used.

Sure it has a lot of bells and whistles, one analogy they used was " It's like they took the bodywork of a Lamborghini and put it on a Kia chassis"

when I asked about using it as a tool for back testing they still had nothing good to say for the very reason of those videos you posted!

It was their opinion that in this next year we will see herds of savvy traders move to other less popular trading platforms like Ctrader.com, tradestation.com, vikingtrader and fxpmsoftware.com to name a few that they mentioned.

I personally would rather pay upfront license fees and pay a commission on trades than trade on MT4. More people need share this information!
  • #65
  • Oct 18, 2015 2:12pm Oct 18, 2015 2:12pm
I don't wanna feel like spamming, but i think this AMA from reddit is very relevant to this thread,
https://www.reddit.com/r/IAmA/commen...est_retail_fx/
Don't know how reliable that is, but its worth reading. "...25% of the time I was trading the firm's money, while 75% of the time I was tasked with figuring out which clients we could bet against and which clients we should target to attempt to reverse engineer their strategies..."
Energy, frequency and vibration.
  • #66
  • Oct 21, 2015 9:53am Oct 21, 2015 9:53am
Interesting thread!

But I believe blaming MT4 brokers for bad trading and saying it is the reason why many fail is false. Yes there are brokers that use little tricks, but if you are a good or a great trader it will not have major affect on wheather you ultimately succeed or fail.

All I will say is the market is not random, history repeats itself over and over. The traders that fail, are gambling!

MM
  • #67
  • Oct 21, 2015 12:36pm Oct 21, 2015 12:36pm
Its not about traders loosing, its about the house playing fair, we loose but we do so fairly( well i don't loose, when i saw we im talking on behalf of my fellow traders), SO THE HOUSE MUST WIN FAIRLY WITHOUT MANIPULATING ANYTHING, ALREADY THE FAVOUR IS IN THE HOUSE, THE ODDS ARE IN THE HOUSES FAVOUR SO WHY DO THEY HAVE TO CHEAT???? What they are doing is equivalent of a rich man taking money from the poor.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #68
  • Oct 21, 2015 12:43pm Oct 21, 2015 12:43pm
Quoting Soros
Its not about traders loosing, its about the house playing fair, we loose but we do so fairly( well i don't loose, when i saw we im talking on behalf of my fellow traders), SO THE HOUSE MUST WIN FAIRLY WITHOUT MANIPULATING ANYTHING, ALREADY THE FAVOUR IS IN THE HOUSE, THE ODDS ARE IN THE HOUSES FAVOUR SO WHY DO THEY HAVE TO CHEAT???? What they are doing is equivalent of a rich man taking money from the poor.
You do realise the WHOLE market is FIXED??? If anyone wants a fair game, my suggestion is trading markets is not for them.

The sooner people realise that, your 1/10th of the way to figuring out how jump on the bandwagon with the big boys.
  • #69
  • Oct 21, 2015 12:53pm Oct 21, 2015 12:53pm
Quoting Madmoney
{quote} You do realise the WHOLE market is FIXED??? If anyone wants a fair game, my suggestion is trading markets is not for them. The sooner people realise that, your 1/10th of the way to figuring out how jump on the bandwagon with the big boys.

It's "fixed" when I lose .... Btard broker %^^8 took my money ...
  • #70
  • Apr 6, 2016 5:19pm Apr 6, 2016 5:19pm
Quoting yxcvbn
{quote} why are you making up stuff? theres nothing on their pds about trading against dark pools and liquidity providers and pretty much every broker pool the clients money ( no wonder on 15 january all nerds tried to withdraw their funds ). last but not least; if you for whatever reason get margin called, it's because you in first place are an idiot trying to gamble with your equity
You dont understand the market maker business
  • #71
  • Jul 20, 2016 9:38pm Jul 20, 2016 9:38pm
I think tomorrow I am closing my live trading account. I had let profitable EA's trade exclusively on MT4. I am afraid I am going to lose my entire trading account due to fraud. I opened a demo account with Oanda and I placed previously profitable EA's that were pre-tested and had no bugs.. into the Oanda demo. I set use money management to true under inputs, and I inputted the proper lotsize.. when I depressed the EA button to activate to trade.. instead of opening three .01 lot size positions at once.. the EA opened three 9.99 LOTS AT ONCE INSTEAD!. This was not a fluke, at other broker demos the same EA opens exactly what I previously inputted. I tried again with another profitable EA that was previously tested with another broker demo, then I installed the same EA onto MT4 demo account and I inputted under inputs .05 lot size. When I activated this EA it opened 100 LOTS SIZE INSTEAD! Just between the spread and commission was $700.00 to open this 100 lots. If this was real instead of demo, the broker would say that the trader assumes all responsibility, and they would say that they are not liable in any way right? They would pocket all the commissions, and the trader would be the loser. Trust me, you have a better chance of making a gain in a casino then with the crooked broker and big bank trader price manipulators. I don't believe the NFA registration they are given means anything. They are all in it together to liberate the little guy from his money.
  • #72
  • Aug 16, 2016 1:44pm Aug 16, 2016 1:44pm
Is there a plug in called delay plug in? I was scammed by LCG recently. My stop order and stop loss were left untouched when the price pass them and get filled only when the market reverse. The orders will show green color on the trigger price when it is within 10 pips from bid/ask. If the bid/ask get too far from the trigger and the orders are still not filled then they are forced to fill with a big slippage, for example 15 pips.

I feel this plug in is much worse than the virtual dealer plug in because 5 seconds is not the limit. Orders could be left behind for a few minutes, not a few seconds! I had an order filled with 15 pips slippage and I assume that is the purpose for holding orders? The dealer banks 15 pips on clients cost. Behind the closed door LCG copy clients' trades and send them to their liquid providers. The trades LCG receives from the liquid providers should be within 1-2 pips from the requested price and the difference on the filled price(13-14 pips) is taken as a profit by the dealer.

Has anyone have the same experience? Other brokers I tried has never done such things to me. I am pissed because I lost my profit accumulated during first 6 months with LCG.
  • #73
  • Aug 31, 2016 7:04am Aug 31, 2016 7:04am
Quoting tdhowl
I think tomorrow I am closing my live trading account. I had let profitable EA's trade exclusively on MT4. I am afraid I am going to lose my entire trading account due to fraud. I opened a demo account with Oanda and I placed previously profitable EA's that were pre-tested and had no bugs.. into the Oanda demo. I set use money management to true under inputs, and I inputted the proper lotsize.. when I depressed the EA button to activate to trade.. instead of opening three .01 lot size positions at once.. the EA opened three 9.99 LOTS AT ONCE INSTEAD!....
Sounds like EA bug.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #74
  • Oct 11, 2016 2:01pm Oct 11, 2016 2:01pm
Quoting sidhujag
{quote} You dont understand the market maker business
take your time to read my answer again, you are missing my point
  • #75
  • Oct 15, 2016 8:24pm Oct 15, 2016 8:24pm
Quoting yxcvbn
{quote} take your time to read my answer again, you are missing my point
You are assuming i didnt get your point but u have and you haveng gotten mine yet... rethink my post and come back. You need to understand an unregulated business to know that odds are stacked against you on the outcrowd... now that there are better alternatives to forex for trading you will start to see banks and liq providers try to ease up but too little too late. ..
  • #76
  • Aug 16, 2017 7:17pm Aug 16, 2017 7:17pm
Quoting sidhujag
if broker is direct to liquidity provider their wins will be liquidity provider losses. Brokers must hedge if they are market makers thus you play the broker and market.. If liquidity provider keeps losing they will ban the broker. Either way the system is stupid.. Bank never takes a risk and only reaps the reward... Before long will be replaced by trustless exchanges and platforms... The blockchain is unhackable and will make these crooks go bankrupt rightfully.
This is exactly true. If you do not believe that I can trade any of your accounts. When I will turn to profit your account will be banned and you will be not paid. Imagine if I will scalping on your account and I will make profit £20 000 (+200% in just a few hours) do you believe broker is going to pay?????

In this case, the broker will never ever pay you!

Only the Blockchain is our chance in the future.
  • #77
  • Aug 16, 2017 7:27pm Aug 16, 2017 7:27pm
Quoting Soros
Its not about traders loosing, its about the house playing fair, we loose but we do so fairly( well i don't loose, when i saw we im talking on behalf of my fellow traders), SO THE HOUSE MUST WIN FAIRLY WITHOUT MANIPULATING ANYTHING, ALREADY THE FAVOUR IS IN THE HOUSE, THE ODDS ARE IN THE HOUSES FAVOUR SO WHY DO THEY HAVE TO CHEAT???? What they are doing is equivalent of a rich man taking money from the poor.

You said 95% of Forex traders are losing money. This is not true because in reality 99.9% of Forex traders losing money! Traders can have profitable strategies, but brokers will use many tricks as spread widening 30+ pips, huge slippage, hit your SL, not execute your trades, slow down executions and select the worst price for you ( I had broker which slow down execution 50 seconds!!!!), ban your trading account, etc, etc.

The broker can't afford you to be profitable due to his LPs.

Do not count inconsistently profitable traders.

If you become consistently profitable 1 of 10000 traders your brokers will ban your account. Doesn't matter which trading platform you will use. Even if you will use fix API you will be banned quicker than MT4.
  • #78
  • Aug 16, 2017 7:44pm Aug 16, 2017 7:44pm
Quoting peepbb
{quote} You said 95% of Forex traders are losing money. This is not true because in reality 99.9% of Forex traders losing money! Traders can have profitable strategies, but brokers will use many tricks as spread widening 30+ pips, huge slippage, hit your SL, not execute your trades, slow down executions and select the worst price for you ( I had broker which slow down execution 50 seconds!!!!), ban your trading account, etc, etc. The broker can't afford you to be profitable due to his LPs. Do not count inconsistently profitable traders. If you become...
I should probably sign up for your signals then http://forexsignals7.com/
  • #79
  • Aug 16, 2017 9:17pm Aug 16, 2017 9:17pm
Hi daileycon,

Just today my scalping: http://www.myfxbook.com/portfolio/fo...nals-7/2221126

For safety reason just demo account.

Just imagine this is just 2 hours scalping and 221% gain profit! I can even do better.

Do you think broker is going pay you?

BTW even I have the latest technology to deliver signals copiers are a little bit slow due to a distance between provider - trader - broker.

All the best in trading.
  • #80
  • Aug 17, 2017 7:48am Aug 17, 2017 7:48am
Quoting peepbb
Hi daileycon, Just today my scalping: http://www.myfxbook.com/portfolio/fo...nals-7/2221126 For safety reason just demo account. Just imagine this is just 2 hours scalping and 221% gain profit! I can even do better. Do you think broker is going pay you? BTW even I have the latest technology to deliver signals copiers are a little bit slow due to a distance between provider - trader - broker. All the best in trading.
I'm confused, you say "99.9% of Forex traders losing money" but you are charging people for your forex signals. Why would anyone sign up for your signals? Are you that 0.01 percent or are you trying to rip people off? By the way, your myfxbook account is private.
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