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Exposing MT4 Scams - Brokers Plugin!

  • #101
  • Aug 17, 2017 3:44pm Aug 17, 2017 3:44pm
Quoting peepbb
Dear Alex Reid, So, you are a professional trader and you making consistent profit day by day. You trade 3 years, so you know everything about Forex industry now. That says it all! You are actually genius. I will give you also advise. Never make fun of someone who speaks broken English. It means they know another language/languages. Anyway, good luck with your professional trading for a living.
Dear Peepbb,
I never claimed to be a professional or an expert, just simply giving my opinion. Used my past activity (3 years) with IG to further my point of them being reputable. Your cherry picking information and using it to justify your insults.
Good Luck trying to desperately trying to sell your signals to novices and convince them your part of the "0.01%" that can trade.
  • #102
  • Aug 17, 2017 4:27pm Aug 17, 2017 4:27pm
Loool what a joke look at just about every broker on Forex peace army and it has terrible reviews, why? Because novices that couldn't develop a profitable strategy go onto these sites and blame the broker for there losses.


Not every broker has a bad review. This is another mistake. You should trust more in people than in brokers.

Read this: http://www.forexpeacearmy.com/forex-...atcbrokers.com

113 review 5 stars

If you are consistently profitable why you are not a professional trader? Do you love to work rather in the factory?

You should try to make money for living and then your opinion regarding brokers will be valuable otherwise you do not have enough experience and your opinion is not enough knowledgeable.

Can you show me proof of your claim regarding my desperately trying to sell my signals to novices and convince them?

Are you a foreigner? Why "blame the broker for there losses." Should be not there blame the broker for their losses?

Or Sir is also grammarian?

I just kidding you. It is not insult

Honestly Good luck for you!
  • #103
  • Aug 17, 2017 5:19pm Aug 17, 2017 5:19pm
Quoting peepbb
Loool what a joke look at just about every broker on Forex peace army and it has terrible reviews, why? Because novices that couldn't develop a profitable strategy go onto these sites and blame the broker for there losses. Not every broker has a bad review. This is another mistake. You should trust more in people than in brokers. Read this: http://www.forexpeacearmy.com/forex-...atcbrokers.com 113 review 5 stars If you are consistently profitable why you are not a professional trader? Do you love to work rather in the factory?...
Pulling me up on a missing question mark lol, read your last comment about 3 times but i am still none the wiser as to what half of it actually means.
I recently made the transition from working/trading to trading full time as my profits outweighed my wages so i don't regard myself as a professional yet even if i have been trading successfully for 3 years. Ill wait until im sitting in a comfortable position to call myself a professional.
When it comes to choosing a broker from peace army i personally don't trust ONE source, i look at multiple sources and gather an overall opinion on a broker. I find that often peace armies reviews are biased and different to multiple other sources.
Anyway you have your opinion i have mine but we trade differently as you use multiple EA's i assume on smaller time frame and i trade manually on longer time frames, so were always going to have a difference of opinions when it comes to the best broker.
Lets leave it there, good luck to you also
  • #104
  • Aug 17, 2017 9:23pm Aug 17, 2017 9:23pm
I've read multiple times that the broker won't pay you. I mean if you trade and you generate profits then are the brokers allowed by law to disallow you to withdraw your profits? I undertstand that you if you are generating profits that they will ban you, but if you already have winnings don't they have to pay you?
  • #105
  • Edited 12:56am Aug 18, 2017 12:35am | Edited 12:56am
stop spreading assumptive rumors. unless you work at a broker or in a bank, trust me. u don't know what you are talking about and am merely creating fictitious logics, akin to area 51 harboring aliens.

i used to work as a interbank dealer, the ultimate market maker of the food chain, so trust me when i say that brokers do route orders to us and we do share some ecn servers with them.

the main issue is. that it is a long food chain. along the line. your order might be filled by someone else, way before it reaches us. it all depends on how your broker is set-up.

brokers generally have 2 options,
1a) make a market for you, based off interbank pricing. pass it off to you as a ecn match and charge you a commission plus your possible trade losses
1b) match it internally against their pool of clients, pass it off to you as a ecn match and charge you a commission (left hand pass money to right hand situation, but technically still a ecn, only in-house)
2) straight thru pass your order up along the food chain, charging you a commission for honest work done.

which option, depends on their risk management team's assessment and their risk appetite. usually if you are too big a fish and they do not want to book any inherent risk

now, if a broker route your trade via option 2, it then moves into a "expresslane" with many exits, each exit is a trader from all walks of the industry and beyond. (pb/pop/funds/companies/other traders from other brokers/blackboxes/etc) this is what a ecn/interbank is. only if none fills, then banks will book it. at the end of the day, even thou you are on the ecn server, there will be times, someone will have to make a market for you.

this interbank foodchain is different from the interbank that banks trade with one another. so do not be confused.
if you are trading spot FX thru a bank broker, such as OCBC in singapore, your channel will be the latter.

do also note that irrelevant which channel you are on, all roads lead to rome. because banks are the ultimate maker, they do have the right and is obligated to offload positions to protect their baseline p&l. that's where the sudden spikes throut all brokers appear on the chart for no inherent reason to you, but to them they do know where the clusters of entries are because they are the one booking it. yes, it is "acceptable manipulation" in some sense. that is why banks also have guidelines and caps on how much they can profit from such offloads.

with regards to plugins in the broker's end. alot of regulation has been in placed to prevent it. i can honestly say that most if not all of the tier 1/2 regulated brokers do not use it as their regulators dictate. if you want to be sure, there are websites/applications that pits your brokers OHLC against the entire industry's. if it is way deviated from the norm, there are channels for you to make a claim. PS, not including blackswan events
  • #106
  • Aug 18, 2017 7:19am Aug 18, 2017 7:19am
Hi all
First i must appreciate for all info. and experiences about this market and the most important issue about Brokers.
But i would like to ask you this question.
As most of you know about these tricks "Why don't governments and legal institutes do anything about them?"
cheers all
  • #107
  • Aug 18, 2017 7:26am Aug 18, 2017 7:26am
Quoting foxtraderfx
Hi all First i must appreciate for all info. and experiences about this market and the most important issue about Brokers. But i would like to ask you this question. As most of you know about these tricks "Why don't governments and legal institutes do anything about them?" cheers all
what tricks? virtual dealer plugins? ASIC/FCA has taken action against such brokers before . with regards to banks offloading their book/booking a position, as i said, it is justified. because they are the market.
  • #108
  • Aug 18, 2017 10:31am Aug 18, 2017 10:31am
Quoting Bicarus
{quote} what tricks? virtual dealer plugins? ASIC/FCA has taken action against such brokers before . with regards to banks offloading their book/booking a position, as i said, it is justified. because they are the market.
I'm under the impression that the more hardcore broker conspiracy theorist ITT think that brokers take the liberty to move price independently against the client, at will, and against the current direction of the rest of the market. To be fair that used to happen to some extent (back in the 90's/early 00's), but now that every Tom, Dick, and Harry and run multiple instances of MT on a VPS for virtually nothing, they aren't going to be able to move the market far because it will instantly get arbed out. That really only leaves them with spread widening as a tool to stop out clients, and it's why I refuse to use a broker with a dealing desk.

To those complaining about stop-hunting, it's not just happening at your broker it's the entire market. You have to remember that a SL is an opposite Stop order and a TP is an opposite Limit order. If I'm a huge trader/bank with unlimited capital and I want to go long I'm going to look at the DOM and if I see a large pool of liquidity below the current price and a thin order book on the way there, I'm going to sell every order down to that pool and then buy it all the way back up.
  • #109
  • Aug 18, 2017 5:45pm Aug 18, 2017 5:45pm
Quoting peepbb
{quote} 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.
Yes a censor resistance ledger than can settle transactions trustlessly is exactly what is needed here. The big banks are already playing with the technology although they have got the wrong idea with private blockchains (that is not much better than a distributed database), however one day we will have decentralized exchanges trading assets representing currencies, crypto, stock tokens and things like starbucks points etc) It will be the new wave of innovation to take us passed the dot come internet boom.
  • #110
  • Aug 18, 2017 10:18pm Aug 18, 2017 10:18pm
Quoting Bicarus
stop spreading assumptive rumors. unless you work at a broker or in a bank, trust me. u don't know what you are talking about and am merely creating fictitious logics, akin to area 51 harboring aliens. i used to work as a interbank dealer, the ultimate market maker of the food chain, so trust me when i say that brokers do route orders to us and we do share some ecn servers with them. the main issue is. that it is a long food chain. along the line. your order might be filled by someone else, way before it reaches us. it all depends on how your broker...
Great post. In short, brokers can choose to offer you option 2 (now that is the bona fide ECN model). Remeber, just "choose to". So, as usual, I urge retail traders be vigilant as much as possible. It is not unfair to say there exists rip-off-newbie-and-the-stupid mentality in the retail (not just forex) market.
IG seems like a reputable company, but it is not.
  • #111
  • Edited 7:10am Aug 19, 2017 6:01am | Edited 7:10am
Quoting theone964
I've read multiple times that the broker won't pay you. I mean if you trade and you generate profits then are the brokers allowed by law to disallow you to withdraw your profits? I undertstand that you if you are generating profits that they will ban you, but if you already have winnings don't they have to pay you?

Hi,

The broker will say just you used some technique which is not allowed. It used to be scalping, EAs usage, etc. for many years. Now brokers use more sophisticated tools and after first trade use just plugins. This is financial crime and brokers are not allowed do so. For example, FXCM gets penalty $16 900 000 & $4 000 000 for usage of virtual dealer plugin. Now brokers use still more sophisticated tools than VDP. Brokers are not well regulated. I also think here to forums write a lot of brokers and they try to downplay the situation and devaluate my comments. Even if the broker will get penalty £20 000 000 they make on criminal techniques known as VDP plugins £100 000 000 or even more money. Imagine they make £100 000 000 and get penalty £20M, so still in profit £80M, they should be jailed for the financial crime, not penalized. When your account is profitable they just adjust more and more obstacles for you. This is nowadays Forex retail trading = financial crime = this does all brokers. If somebody as AlexReid play with $1000 on the account in unpredictable times, of course, he doesn't have experience about manipulations. IF HERE IS ANY BROKER WHO Does NOT USE THESE TECHNIQUES VDP or equal plugins PLEASE LET ME KNOW!!!!!!!
  • #112
  • Edited 4:18pm Aug 19, 2017 7:47am | Edited 4:18pm
Quoting peepbb
{quote} Hi, The broker will say just you used some technique which is not allowed. It used to be scalping, EAs usage, etc. for many years. Now brokers use more sophisticated tools and after first trade use just plugins. This is financial crime and brokers are not allowed do so. For example, FXCM gets penalty $16 900 000 & $4 000 000 for usage of virtual dealer plugin. Now brokers use still more sophisticated tools than VDP. Brokers are not well regulated. I also think here to forums write a lot of brokers and they try to downplay the situation and...
Why do you keep mentioning me in your ridiculous posts, iv been trading successfully for a while, not sure why your talking about $1000 ha. I've managed to avoid this B.S "manipulation" this FOOL talks of. Your post contradict each other, you talk of them creating virtual plug ins and manipulating the market in order to defeat your strategy, this is an obvious excuse made by NOVICE traders. Look at it this way....
Your create an EA (or copy one as most do) you tweek and you tweek and you tweek until it finally generates some consecutive profits, then all of a sudden you deem the strategy profitable. A month or two later when the markets changes direction or they move into range or into a trend your strategy no longer works, the only reason it worked is because when you were tweaking it you were adjusting it to the conditions of the market at that time. Now the market has changed your EA is no longer profitable, you loose most or all of your money and your left with two options.
1. I take responsibility for my lack of knowledge and i move forward and try to learn from my previous mistakes.
2. I blame the broker claim every single broker is figuring out my strategy and manipulating the market in order to take my $100 account, i also use examples from the small majority of illegitimate brokers that have used techniques such as hunting S/L in the past.
To me its pretty obvious that paranoia has festered its way into you, from the way you blame the broker to the way you accuse my of BEING a broker purposely coming onto these threads to advice people not to listen to you.... i mean come of it. Anyway i am done replying to your conspiracy theories, my advice to anyone reading Peepbb comments do your own investigation into whether a broker is legitimate or not do not take the advice ONE trader.

"I am the trader able to make 1000% a day seriously." That says everything you need to know about Peepbb.
  • #114
  • Edited 8:18am Aug 19, 2017 7:59am | Edited 8:18am
Quoting AlexReid
{quote} Why do you keep mentioning me in your ridiculous posts, iv been trading successfully with for 3 years, not sure why your talking about $1000 ha. I've managed to avoid this B.S "manipulation" this FOOL talks of. Your post contradict each other, you talk of them creating virtual plug ins and manipulating the market in order to defeat your strategy, this is an obvious excuse made by NOVICE traders. Look at it this way.... Your create an EA (or copy one as most do) you tweek and you tweek and you tweek until it finally generates some consecutive...
AlexReid I do not use EAs. I do not work in fabric, so I have enough time to properly setup my scripts. I have a collection of 40 000+ EAs + indicators I have testers. There are not profitable EAs on this planet. Even if EA is profitable it is a just little bit.

You said you able make profit consistently. This is not possible for a worker who trades Forex as a hobby. Can you show your own verified account on My Forex book if you are serious?????? If you will show I will apologize. If not just S up. You are a very arrogant trader if you are considering traders from FPA as noobs. How do you know there are only novices?

I am really not interesting about your continuous accuses. Are you IB of IG? Do you know if you lie about this you breaking the law?
  • #115
  • Aug 19, 2017 8:07am Aug 19, 2017 8:07am
Quoting Bicarus
{quote} what tricks? virtual dealer plugins? ASIC/FCA has taken action against such brokers before . with regards to banks offloading their book/booking a position, as i said, it is justified. because they are the market.
Market price is displayed on the screen. If brokers and LPs are not able to pay that price, there should be a different way to trade retail Forex and all brokerage firms + LPs should be off this market.

We traders know the price. Do you want excuse brokers +LPs they wait 20 seconds to open position and then another 30 seconds to close the position? Why you are talking brokers do not use VDP??? Why???

I every single day experiencing this problem.
  • #116
  • Aug 19, 2017 8:13am Aug 19, 2017 8:13am
Quoting foxtraderfx
Hi all First i must appreciate for all info. and experiences about this market and the most important issue about Brokers. But i would like to ask you this question. As most of you know about these tricks "Why don't governments and legal institutes do anything about them?" cheers all
Brokers + LPs should be shut down!

A new trading platform must be developed without these crooks.

BLOCKCHAIN is our chance. I already applied for the first trading platform on Blockchain.

Price should be displayed only real which counterpart is able to pay for.

These people should be jailed. You received the first answer from the broker. From their point of view, they do not anything illegal of course.

If you will ask traders about virtual dealer plugin most of the traders even do not know about the existence of this kind of plugins. So that's why from my point of view government didn't take proper action yet.

Regulators exist, but they are very slow and far behind the brokers + LPs.
  • #117
  • Edited 4:41pm Aug 19, 2017 8:18am | Edited 4:41pm
Quoting peepbb
{quote} AlexReid I do not use EAs. I do not work in fabric, so I have enough time to properly setup my scripts. I have a collection of 40 000+ EAs + indicators I have testers. There are not profitable EAs on this planet. Even if EA is profitable it is a just little bit. You said you able make profit consistently. This is not possible for a worker who trades Forex as a hobby. Can you show your own verified account on My Forex book if you are serious?????? If you will show I will apologize. If not just S up. I am really not interesting about your...
It was pretty easy to trade and work as i am a manual long term trader, and amazingly enough im not interested in getting people invested into my strategy or selling my signals, so for me creating a fxbook whether its to prove myself to a bunch of internet warriors or to try and get investments isn't worth it.
I only mentioned my experience as you keep attacking it with no knowledge.
I only posted on this forum as i believe it will turn new traders away with conspiracy theories and MAYBE ruin an opportunity for them to be successful in this business.
"Are you IB of IG?" You caught me... Im IB of IG i come on these threads in order to silence the truth and it if weren't for you bunch of Forex noobs and your meddling dog i would of gotten away with it.
  • #118
  • Aug 19, 2017 3:01pm Aug 19, 2017 3:01pm
Your opinion as introducing broker with IB & IG on this topic is at least conflict of interests. You are more on another side. Yes, people like you can be consistently profitable in Forex with introducing people to brokers, but this is not income from trading. The topic is regarding virtual dealer plugin which preventing real traders to make money against the law.

I never worked in fabric like you. I start business immediately when I finished my MSE. I get many lessons and one of this lesson is trust people bad reviews because good reviews write people like you IBs and brokers about themselves.

I trust people on FPA and it is not nice to ridicule these traders and mark traders who do not agree with your opinion as noobs. BTW you trade Forex just 3 years. You are a noob. Open your eyes.
  • #119
  • Edited 4:44pm Aug 19, 2017 4:26pm | Edited 4:44pm
Who said I've only been trading for 3 years, i said I've been profitable for 3 years cherry picking information again. You are also the one that keeps bringing this up, i only motioned it to prove the legitimacy of a broker. Not sure why your questioning my knowledge, i never claimed to be an expert. The amount of time i have traded for is irrelevant, someone could trade 10 years and never make a profit but are they better and more knowledgeable than someone who has traded for 5 years and made substantial profit, surely it depends on the persons ability to interpret the markets.
Your on here claiming "I am the trader able to make 1000% a day seriously. I pretend to be able just to make 30-40% a month with my broker.".....
Anyway you have your ideas i have mine, lets stop with this back and forth its getting boring. Good luck in your quest to find a legitimate broker.
  • #120
  • Aug 25, 2017 5:48pm Aug 25, 2017 5:48pm
Surely every trade placed no matter what platform you use then runs through the brokers system. It has too so he knows his own income, ie the spread. He also has to know his own liabilities etc and produce figures for the tax man. It then gets run through a series of other computers depending on how he lays off the trades. Given that you are with a registered broker, if he messes about with trades ie manipulates charts he would probably loose the licence which would then put him out of business.
Unless you are trading large amounts why would he bother. A and B books I think are run by most Brokers. But if the broker is messing with charts I suspect that there would be less A book trades on the books. If income comes from spread then he wants the A and B book and his licence. To go to the extent of having a program written and maintained to pick off individual small trades and amend the feed to an individual out of many is unlikely. If he chooses to in house B book trades he still has to account for moneys in and out which would mean more maniipulation of figures. There is a message else where on A and B book. But given you are using a Broker guess the clue is in that word, ie Broker, you send the trade to him and it is then up to him to Broke that trade to the place or places best suited to it allowing for profit.
Re referenced post about and a and B. With small trades I would guess the spread would take care of 1 or 2 pips, but Tight stops it appears are low hanging fruit for bankers on a quiet day who would be heading for deeper fruit in obvious locations, 10 pips under last low or high. All they have to do is put a large trade counter direction instant clear out of stops and a momentary spike which would not be long enough to register in standard candles other than in the body since it would have little duration as it would be 1 or 2 trades
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