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MT4 Brokers' Virtual Dealer Plug-In

  • #341
  • Feb 3, 2009 1:15am Feb 3, 2009 1:15am
Face the facts the Spot Fx Was, Is and Will Be A roll of the Big Dice game...

Just use your tolerance for loss threshold and Get Out While you are ahead!
If your making money then your of the few that Just Simply have Odds in your favor Lucky. (Do note this is subject to a cyclic sensation like all other aspects of life) Every single gateway to trade the OTC Market is nothing more than Playing the electronic gaming forums online. Your Trades are all virtual components of a whole. Stop wasting good energy working out a bug that you cant even see, or find. it's all VIRTUAL REALITY !!! just buy and sell on a whim... And walk a way when you've had your fill of entertainment win,lose. or draw. And for those of you that have been at this for a few years and would like to begin trading rather than fancy gambling look into the Futures markets or stocks.... But please relieve yourselves from loathing after counterfeit opportunities of misfortune... It's a Sum Zero game.
"Look Left Think Right"
  • #342
  • Feb 4, 2009 1:19pm Feb 4, 2009 1:19pm
Quoting CurrencyAnalyst
Face the facts the Spot Fx Was, Is and Will Be A roll of the Big Dice game...

Just use your tolerance for loss threshold and Get Out While you are ahead!
If your making money then your of the few that Just Simply have Odds in your favor Lucky. (Do note this is subject to a cyclic sensation like all other aspects of life) Every single gateway to trade the OTC Market is nothing more than Playing the electronic gaming forums online. Your Trades are all virtual components of a whole. Stop wasting good energy working out a bug that you cant even see,...
Exactly true. Further, it absolutely does not matter if that "Virtual Dealer Plug in" is turned on or not because people will lose anyway on the long run. So it's not worth discussing that Plug in. Same applies to Spreads, it does not matter if the Spread is 3 pip, 6 pip or 20 pip. On the long run, everyone lose (the ones who REALLY make money in this market are Brokers and major Banks , thats also the reason why they sponsor this Forum btw.), no matter how wide the spead is. FX is nothing else than a very expensive form of entertainment.
Forex is a losers game.
  • #343
  • Feb 15, 2009 8:19am Feb 15, 2009 8:19am
Quoting 8fingers
This guy is right! ALLLLLLLL FOREX IS SCAM! Cant wait for the stock market rebound!

So FXPRO is a scam then...you show them (plus MBT) under your profile)?
every Saint has a past. Every Sinner has a Future
  • #344
  • Feb 15, 2009 8:04pm Feb 15, 2009 8:04pm
Quoting trader121
Exactly true. Further, it absolutely does not matter if that "Virtual Dealer Plug in" is turned on or not because people will lose anyway on the long run. So it's not worth discussing that Plug in. Same applies to Spreads, it does not matter if the Spread is 3 pip, 6 pip or 20 pip. On the long run, everyone lose (the ones who REALLY make money in this market are Brokers and major Banks , thats also the reason why they sponsor this Forum btw.), no matter how wide the spead is. FX is nothing else than a very expensive form of entertainment.
So trader you are on this forum because?
  • #345
  • Feb 16, 2009 8:48am Feb 16, 2009 8:48am
Quoting turnip15
So FXPRO is a scam then...you show them (plus MBT) under your profile)?
YES-the answer to your question is YES! All brokers are running a casino of sorts. Forex is the market most highly stacked against the gambler. I do use these 2 only-FXPro and MBT- to trade accounts under 1000. bucks each. I program and love the Mt4 Platform EA function. I do realize that all this "FLUFF" is nothing more than an adult distraction to the sad fact that Forex is for "Gamblers"-not investors. Play here and have fun-but u will leave lighter and madder than when u arrived!
FF = Forex Faggots
  • #346
  • Mar 4, 2009 9:15am Mar 4, 2009 9:15am
Need to demonstrate this plugin was in use when trading on my account w/ MT4; I only have the logs of all my trades; is there any way to demonstrate this plugin was in effect from my trading logs ? many thanks
  • #347
  • Mar 4, 2009 1:37pm Mar 4, 2009 1:37pm
Over the past few weeks I've been very frustrated with IBFX and the number of re-quotes I get when trying to enter or close a position at market, when I finally get my order through I am usually ways away from the entry or exit I wanted. Then I found this thread while trying to find a new broker to move my account to.

Has there been any news regarding this plug-in? Seems like after a few pages in this thread the conversation went of course.
  • #348
  • Mar 4, 2009 9:19pm Mar 4, 2009 9:19pm
Quoting iice74
Over the past few weeks I've been very frustrated with IBFX and the number of re-quotes I get when trying to enter or close a position at market, when I finally get my order through I am usually ways away from the entry or exit I wanted. Then I found this thread while trying to find a new broker to move my account to.

Has there been any news regarding this plug-in? Seems like after a few pages in this thread the conversation went of course.
Dont waste any more time. Move to another broker before you lose all your funds. We all know that this plug in is in place; nothing we can do about it except find a more user friendly broker.
  • #349
  • Mar 4, 2009 10:09pm Mar 4, 2009 10:09pm
Quoting iice74
Over the past few weeks I've been very frustrated with IBFX and the number of re-quotes I get when trying to enter or close a position at market, when I finally get my order through I am usually ways away from the entry or exit I wanted. Then I found this thread while trying to find a new broker to move my account to.

Has there been any news regarding this plug-in? Seems like after a few pages in this thread the conversation went of course.
I've been with IBFX and trading the AUD/NZD. It is the most frustrating experience ... everytime I'm nearing my T/P, they would consistently widen their spread by almost 40 pips. Then when it starts moving against you, the spread appears more normal ... And, when trying to manually close your orders there's almost always a requote ... Best thing to do is get the hell out of IBFX ...
  • #350
  • Edited Mar 5, 2009 4:26am Mar 4, 2009 11:28pm | Edited Mar 5, 2009 4:26am
I have had significant increase in slippage over the last few weeks. And would encourage everyone to submit their own complaint.... UNLESS you have proof of ongoing slippage make your complaint about the software. Complain about the software as it is the problem and will be an ongoing problem for traders no matter what platform you are using if it does not get stopped immediately. Ask for regulation and fines for implementation of such fraudulent software. Lets work together on this forex community, because if MT4 (metaquotes) are doing this, its just as likely or possible that other software is doing this too its just that we don't know about it.

Here is a link about the company.... Boston Technologies
Inserted Code
http://bostontechnologies.com/


Here is a website for the USA.
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http://www.cftc.gov/customerprotection/redressandreparations/howtoreportinformationtous/complaintform/index.htm
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http://www.nfa.futures.org/BasicNet/Complaint.aspx

Here is a link for Australia...
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http://www.fido.gov.au/fido/fido.nsf/byheadline/How+to+complain+to+ASIC?openDocument

Here is a link for Britian
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http://www.fsa.gov.uk/Pages/about/complaints/contact/form/index.shtml

Here is a link for Switzerland, however the Swiss being Swiss don't have everything in English so this was the only contact info I could find...
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http://www.finma.ch/e/pages/kontakt.aspx

I also posted this thread on the metaquotes own website... If this gets deleted and not answered I believe it is sure sign of big boys being naughty...
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http://www.metatrader4.com/forum/13219

Anyway I hope this helps people.....
  • #351
  • Mar 5, 2009 2:19am Mar 5, 2009 2:19am
Hi folks,

I posted a question to metaquotes about this piece of software

and you wouldn't guess

And also copied the picture etc....

But the post was deleted within half of day of it being first posted.

Naughty naughty m*e*t*a***q*u*o*t*e*s
  • #352
  • Mar 5, 2009 2:22am Mar 5, 2009 2:22am
I just realised that METAQUOTES also deleted my sign ability to their forum because of the post....

So they are not even interested in talking about it...

hmmmmmmmmmmm


sounds very suspect to me.....
  • #353
  • Mar 5, 2009 2:47am Mar 5, 2009 2:47am
Quoting ghy23
Need to demonstrate this plugin was in use when trading on my account w/ MT4; I only have the logs of all my trades; is there any way to demonstrate this plugin was in effect from my trading logs ? many thanks

Go to post number #350.

Make a formal complaint about the software, instead of your actual personal trading.

For example make a statement like.

Forex dealers such as IBFX, FXCM and Alpari have two ways of making money. One is spreads which is fair and legitmate, the other is hedging against our losing positions, which is also fair. But as a result they make money when the trader like me loses.

But what is not fair is when Dealer / broker deliberately uses software such as Virtual Dealer Plugin by Boston Technologies in conjunction with MetaQuotes, which deliberately and willfully slows down execution of trades in Meta Trader 4 platform to turn possible profitable trades to be less profitable or make them a loss.

Slippage at point of entry can allow the broker / dealer to make more money and the trader less if there was no real slippage there.

Slippage at point of exit can reduce the actual ability for exiting a trade, and therefore make a trade less profitable for the client. It can also hide the real exit point and allow for profit to be taken by the broker instead of the client.

The fact that Virtual Dealer Plugin 3.16 can also be targeted at traders who trade below a certain lot amount as is seen in the screen shot is appaulling. This is particularly bad because a trading company / broker / dealer can target users who are likely to be new to the market and have little trade with and maybe do not know the dirty tricks that some brokers get up to.

Virtual Dealer Plugin and any other similar programme should be made illegal as it is deliberately aimed at taking money from traders who could easily be making profit.

Many metatrader users have noticed an increase in slippage may occur with some brokers if they show themselves to be profitable in the first months of trading. This occurs even during highly liquid times in the market. And because brokers can benefit out of some of the clientelle going bust by hedging, I believe that the NFA need to step in.

Millions of dollars of fines to owners and managers of companies that employ these tactics are needed. Because a few slippages a day for thousands of traders each day adds up to a real lot of money.
  • #354
  • Mar 5, 2009 4:28am Mar 5, 2009 4:28am
Quoting Phil_GMT
If only a 5 second delay, then should it affect people who use 1hr charts much or not?

I think metaquotes should offer a free version which has limitations and one which people have to pay, if they really want the money, they don't have to go this low, I'm sure users are willing to pay a monthly subscription.

Phil

Yes definitely, cause its not about length of time in trade its about execution and entry into trade...
  • #355
  • Mar 5, 2009 4:40am Mar 5, 2009 4:40am
Quoting CurrencyAnalyst
I have not visited this forum for some time now, and upon skimming the hords of posts this one in particular interested me. First of all understand that the language of the Boston Technologies is geared towards the broker/dealer marketing scheme, Henc the average layperson i.e. retail trader will read into the wording of the posted images in question in a biased , most defensive position. Ehat is being offered via software is full permissable and legal for the OTC market were speaking of. (spot FX). It's all about risk and the hedgeing of the risk...

I do actually agree with you but

Why would metaquotes not release or even talk to people about this 'technology'?

As every trader that has had questions has been deleted from their existence never to be answered or spoken to at all.

If this plugin is as it appears to be, then there are very serious concerns about the transparency of any broker that could benefit out of "slippages", which is what this software deals with.
  • #356
  • Mar 5, 2009 4:52am Mar 5, 2009 4:52am
Quoting opie999
They claim to be a true ECN that uses MT4? And they still charge on the spread rather taking a commission? Is this believable?
ODL do actually have an STP-ECN feed, that they $4USD per 100000 traded. They only give it though if you request it.
  • #357
  • Mar 6, 2009 9:14am Mar 6, 2009 9:14am
I have obtained tremendous insight from this incredible website; but my fellow Forex Traders, all the complaints will do little if it cannot be clearly documented that this Plug-in has been inserted into any dealer/broker server somewhere. If anyone has knowledge on how to document this problem don't hesitate to let me know! I will get it to the right place where changes might begin to happen. thanks
and keep up the good advice!
  • #358
  • Mar 7, 2009 11:44pm Mar 7, 2009 11:44pm
Hi ghy 23,

Refer to post 350 of mine in this forum.

It gives the appropriate links for a number of countries.

It also gives a suggestion on how to make a complaint. Complain about the software rather than the trading. Complain that certain rules need to be introduced to show that a broker is not cheating via the use of software (or any other method) in execution of trades and MASSIVE fines are to be given if trades are being executed in a way that robs the trader of income.

Because although they might not be able fix people's accounts, they might be able to stop it from happening in the future... ...if we target the software.

Because if MT4 are doing this it is likely that other platform developers are also doing it or will do it...

Cheers...
  • #359
  • Mar 9, 2009 3:22pm Mar 9, 2009 3:22pm
Stop wasting your time boo hoo-ing and wimpering. Definition of SPOT FX:
No clear defined execution Rules...
** At the moment Price swapping of One Currency For another........
Non Exchange flow controlled, meaning I buy you Buy we Buy we sell They sell etc. And nobody has a record of order flow as a WHOLE!!!

So to try and make a point of slippage, wipage, pipage, regarding Standard mutual price is simply going on deaf ears, because the ears can not acknowledge your point. Note: Spot FX trading for retailers was a spawn of the electronic internet Growth Boom some 10 years ago just like the online casino type gambling was... hint.....

If ya can't take the heat of un-orderly price flow abroad, and just are not making money it's time to realize your just not a good player in the game of SPOT!!! Time to Move On.
"Look Left Think Right"
  • #360
  • Mar 9, 2009 5:21pm Mar 9, 2009 5:21pm
Quoting CurrencyAnalyst
If ya can't take the heat of un-orderly price flow abroad, and just are not making money it's time to realize your just not a good player in the game of SPOT!!! Time to Move On.
You are right until you get slipped 5 out of 7 trades on either entry exit or both. They have all been pending orders and not one was during a news release.

I am also getting 1 - 3 requotes per trade during non-news times. That's pathetic and I am with a so called 'reputable' broker. I have the best internet connection going, P4 quad core with 4GB of RAM and I'm getting re-quotes... Somehow I think it is the brokers lag that's causing it... possibly this type of software.

Despite that I am still making profit, but what these dealers are doing to put it simply is stealing your money. No 2 ways about it. Unless you work for a dealer / broker your statement appears to be either a very ignorant or just plain foolish. So quit your jibe at people, do something about this or your broker may find it useful when they start doing it to you.

If money is of no concern to you, then throw it my way, I'll gladly help you get rid of it.

And by the way, these comments do not fall on deaf ears, as I have already had 2 responses from financial governing bodies in different countries.

Cheer up you can, we can, I can... ...make a good difference in this world.
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