myfxbook trades rigged/fake/cooked? | Forex Factory

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myfxbook trades rigged/fake/cooked?

  • #1
  • First Post: Edited Jul 5, 2018 6:28am Jun 21, 2018 6:11am | Edited Jul 5, 2018 6:28am
I tried to ask this in the MyFxBook.com's General forum but my post was deleted. Some time ago I asked this directly from the support and they said they will look into it but they newer returned to the topic.. So I am trying here.

Can somebody please explain me how is it possible to make a trade outside of the current market range or is the whole reporting system rigged ?

Here is an example when the system did a trade a way outside of the current market range. The trade should be a clear loss but was reported as profitable.

You can find these situations a lot everywhere.

I hope I am just a stupid and do not see why this happens but if there is nobody able to explain this then I will see this whole MyFxBook.com system is a scam.
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  • #2
  • Jun 23, 2018 12:19am Jun 23, 2018 12:19am
Quoting TickSeeker
I tried to ask this in the MyFxBook.com's General forum but my post was deleted. Some time ago I asked this directly from the support and they said they will look into it but newer returned to the topic.. So I am trying here. Can somebody please explain me how is it possible to make a trade outside of the current market range or is the whole reporting system rigged ? Here is an example when the system did a trade a way outside of the current market range. The trade should be a clear loss but was reported as profitable. You can find these situations...
The trade is reported correctly. Look at the time and open and closing price. Use MT4 of any major fx broker. The arrow on the chart and the chart they use however needs to be fixed. The chart above is 4 digits. Most brokers now use 5 digits. Maybe that is the reason for the discrepancy.
  • #3
  • Edited 2:34am Jun 23, 2018 2:05am | Edited 2:34am
Quoting Supertrader9
{quote} The trade is reported correctly. Look at the time and open and closing price. Use MT4 of any major fx broker. The arrow on the chart and the chart they use however needs to be fixed. The chart above is 4 digits. Most brokers now use 5 digits. Maybe that is the reason for the discrepancy.
Thank you very much for the comment !

Here is the situation from TradingView/Oanda which is showing the same discrepancy. Nothing to do with the digits. The difference is about 10 pips.
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  • #4
  • Edited 2:55am Jun 23, 2018 2:44am | Edited 2:55am
Could it be I and MyFxBook are looking the wrong time zone ?
In what time zone (UTC+/-) are you as you can see the trade is valid ?
  • #5
  • Jun 25, 2018 12:25am Jun 25, 2018 12:25am
Quoting Supertrader9
{quote} The trade is reported correctly. Look at the time and open and closing price. Use MT4 of any major fx broker. The arrow on the chart and the chart they use however needs to be fixed. The chart above is 4 digits. Most brokers now use 5 digits. Maybe that is the reason for the discrepancy.
Yes you are right! But I have enough doubt on myfxbooks since, so many unrealistic results here & there.
  • #6
  • Jul 3, 2018 11:32am Jul 3, 2018 11:32am
Quoting TickSeeker
Could it be I and MyFxBook are looking the wrong time zone ? In what time zone (UTC+/-) are you as you can see the trade is valid ?
It is gmt+3 from second Sunday in March and reverts to gmt+2 on the first Sunday in November. That is the most widely used open and close of the fx market as far as I know.
  • #7
  • Jul 3, 2018 11:33am Jul 3, 2018 11:33am
Quoting MariaEduard
{quote} Yes you are right! But I have enough doubt on myfxbooks since, so many unrealistic results here & there.
Myfxbook is great but only if the track record is from a reputable established brokers.
  • #8
  • Jul 3, 2018 11:33pm Jul 3, 2018 11:33pm
Quoting Supertrader9
{quote} It is gmt+3 from second Sunday in March and reverts to gmt+2 on the first Sunday in November. That is the most widely used open and close of the fx market as far as I know.
This means my time zone was correct in both cases.

People! It looks like MyFxBook.com is a SCAM.

These discrepancies are all over the place in myfxbook.com trade reports. Just go and check yourself.
  • #9
  • Jul 4, 2018 6:56am Jul 4, 2018 6:56am
Quoting Supertrader9
{quote} Myfxbook is great but only if the track record is from a reputable established brokers.
Good point, I agree with you! Because, there have so many objections from the market maker brokers on that side.
  • #10
  • Jul 4, 2018 3:13pm Jul 4, 2018 3:13pm
Which system is this on myfxbook?
  • #11
  • Jul 7, 2018 12:15am Jul 7, 2018 12:15am
Quoting businessguy0
Which system is this on myfxbook?
Sorry can't remember that one but just do some browsing and you'll find easily many of them. They are everywhere. Because they are so many I first thought it's me who is doing something wrong but now it seem I'm not. It's the system what's bad. It looks like people have found a way how to cheat the system and when the myfxbook.com doesn't check the trades it's possible to publish manipulated data.
  • #12
  • Jul 7, 2018 12:26am Jul 7, 2018 12:26am
Quoting TickSeeker
{quote} Sorry can't remember that one but just do some browsing and you'll find easily many of them. They are everywhere. Because they are so many I first thought it's me who is doing something wrong but now it seem I'm not. It's the system what is bad. It looks like people have found a way how to cheat the system and myfxbook.com does not check these trades so it is possible to publish manipulated data.
here FF has fake systems, too. but I don't think it's the problem of FF and myfxbook. If the name of the brokers you never heard, just ignore these systems.
A chart helps those who can read it.
  • #13
  • Jul 8, 2018 7:21am Jul 8, 2018 7:21am
Yes, next time you spot one of these discrepancies please let us know the broker name.

Quoting TickSeeker
{quote} Sorry can't remember that one but just do some browsing and you'll find easily many of them. They are everywhere.
  • #14
  • Last Post: Jul 8, 2018 10:02am Jul 8, 2018 10:02am
Quoting clemmo17
Yes, next time you spot one of these discrepancies please let us know the broker name. {quote}
Just do a search by the default values except Drawdown max 10% and Public History. You'll find lot of bad system easily. I'm talking about normal systems *not* Autotrade or Signal Starts. Specially those which have steady equity curve.
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