MT4 Brokers' Virtual Dealer Plug-In

No Spam Intended...... To Answer Your Question.... Open E Cry

Hi. What's the advantage/s of having an account with e-cry versus opening an account with Gain directly (I understand from the website that the latter acts as counter-party to fx transactions made at e-cry)?

Thanks!

Hi All,

I've got this Information from another Forum, This is not April's Fools or another jokes, i post in here because i think you have to know this Horse Shits.

Please go to these links (hurry Up) and you will see

http://tinyurl.com/cp75uf
http://tinyurl.com/dke4qh

http://i40.tinypic.com/96fc01.gif


The House always Win




Sad regards,

VERY Inflated!! but starting a brokerage is a way to make some nice money. I've checked the numbers and you can get into the biz pretty cheaply (setting up offshore) - nice cash for a small operation if you're happy just earning the spread. (have to do STP. No Games.)

MT4 can be bought extremely cheap - that is why alot of 'brokers' (and bucketshops) use it. Problem starts when they become dishonest and try to manipulate your trading instead of taking the spread. this is what i have found with the likes of Alpari and FXCM - avoid these.
Not totally against Virtual Dealer as most have similar systems, but when brokers start abusing the settings, trading becomes impossible (my case with Alapri requotes)

Lower Daytrading Margin, Very good platform, 24 hours service ... Things most Spot FX traders are used to, that not all futures brokers accommodate, usually the IB's have the perks, All they get is a little commission out of the deal. It's another world people... The broker is only a gateway to the exchange they have nothing to do with your trading other than routing the order to exchange.

would that 500k investment include running costs aswell or is that a start up cost? Dont forget you have to pay for employees, tax, advertising, website creation, website running (although relativly cheap), if u want regulation thats a couple of grand too... not saying it wouldnt be profitable just that would require quite heavy investment to get it running to a point where its self sustaining. Plus you are competing with many other brokers.

Please look at these beauties from http://www.bostontechnologies.com/do...anual%20v4.pdf

http://i40.tinypic.com/349fczl.png


http://i43.tinypic.com/23uq0ow.png



http://i41.tinypic.com/2gv25ix.png

http://i41.tinypic.com/29mm5v8.png

If there is anybody out there that does not believe what brokers are up to and why you get slipped or spread widen then the post above by Adal is the real smoking gun.
But for the experienced traders we have known this all along. Some brokers come to mind straight away; specially the one that has wide spreads at any time of the day. No need for me to name them any more as everyone should know by now.

ALL BLOOD SUCKING B@$T@RDS !!!! these brokers.

Those example settings really dont bother me to much. I WISH they would just leave the favoring at 1 pip!! - If he gets a better price than I asked for by 1 pip or 2 I wont cry. - In those example the client still gets in at the price they requested. I wanna see the SMOOTHING, FREEZING, DELAY inputs. Those are the tricks that steal the most cash from us. Its the brokers that abuse the setting that make me sick!

Go to post #350 and #353 if you would like to be pro-active and do something about this scam looking software.

Maybe MT4 is a Trojan. It connects automatically somewhere for history, updates etc. Ever heard of conficker? You have a lot of financial info on your PC.

Makes as much sense as any prior rant.

I 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
http://bostontechnologies.com/


Here are the websites for appropriate complaints in the appropriate country...
Here are websites for the USA - CFTC
http://www.cftc.gov/customerprotecti...form/index.htm

or NFA
http://www.nfa.futures.org/BasicNet/Complaint.aspx


Here is a link for Australia...
https://www.edge.asic.gov.au/008/com...29407270aadcd1

Here is a link for Britian...
http://www.fsa.gov.uk/Pages/about/co...rm/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...
http://www.finma.ch/e/pages/kontakt.aspx

DO NOT POST THIS ON THE METATRADER4.COM forums. The reason is:
And by the way... ...if you ask metatrader at their metatrader4 forums, your post will be deleted without any correspondance and you will be banned from their websites via IP address. Hence changing the sign in name and password and email will not allow you to re-post in their website forums. This leads me to the idea that this software is really quite possibly real.

Hope this helps people, and I hope that metaquotes are forced to be accountable to the appropriate regulatory authorities.

Where do you live guys?
Every forex platform can do these sort of thing.
This plugin could well be what is under the "non dealing desk" stuff... there's no human dealer, the plugin does the job.

Every broker/delaer can do whatever he want with this or other software.

The point is not what brokers/dealers can do, but what they ACTUALLY do.

I believe the point is:

That retail market makers can benefit from customers losing or becoming less profitable which is why in their contracts you read and are required to sign:

"THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. INTERBANKFX, LLC IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, INTERBANKFX, LLC'S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT OR OTHER WRITTEN DOCUMENT INTERBANKFX, LLC ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU THE PRICES INTERBANKFX, LLC OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE AND INTERBANKFX, LLC MAY OFFER DIFFERENT PRICES TO DIFFERENT CUSTOMERS. IF INTERBANKFX, LLC ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT INTERBANKFX, LLC MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE INTERBANKFX, LLC ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM INTERBANKFX, LLC OR ANY OF ITS SOLICITORS."

So if the dealing desk has this boston technology software (or anything similar) they are effectively manipulating the price and deilberately profiting by not honouring what you clicked, they should be charged with stealing or fraud. Hence what this software is doing could be more easily called stealing or fraud. Moving the price against you in order for them to benefit, instead of what you click is what you get should be made illegal and therefore software like this should also be made illegal. However, an individual trader would never be able to tell and therefore this is an area that I would happily suggest should be regulated.


Hence I believe making formal complaints to the appropriate authorities about the software is a necessity. Because MT4 are doing it and have been for some time (version 3.16 of the software), this would mean that other software vendors for trading platforms are probably or have developed there own versions. It needs to be stopped and the only power we have is to complain on mass to the appropriate authorities.

No amount of regulation can stop bucket shops to act dishoneslty.
They could, just in case, change their "pricing algorithms", to effectively spread the users at the price feed level (not at the execution level, like this plugin does).
And they could do many other thins. Regulation don't protect you. Regulators can't be trusted.

Complaining is a losing path.
Just use some brokers you trust and go trading.
Everybody knows ibfx is a scam but they have thousands of clients. People like to lose, the majority are losers.

Didn't know the "everybody's doing it" was a valid excuse for dishonesty...and to just bend over and take with out even a mild response. If you know its happening don't you have some responsibility to at least say something?

Greetings all, including reps from dealing desks pretending to be novice traders, and posting here as such. As background, interested souls should familiarize themselves with the work of NDD forum and website. Further insight can be gained from the bottom of this Trading blog, especially bottom links related to bucket shops and permitted anomalies such as "internalization". As an aspiring, (not new), trader, I am sympathetic to the idea of formal complaint mechanism, and support it fully. I am likewise supportive of boycotting known brokers who are known to manipulate prices and engage in stop hunting. Both avenues should be pursued. This subject is not new. In the coming days of anticipated reform, what can we expect? It is possible that we are entering a phase, as market participants, where everyone loses. Tenacity as a trader can be mutated to other pursuits. One does not of necessity have to trade. A first step to claiming the right to a level playing field may well be a total trading boycott. Don't pay to play in a game that is rigged. Don't buy into the bullshit that sounds like advice from trading "professionals". Don't buy the courses that teach you how to trade on a playing field that will not let you win. If a so called honest broker presents himself, it won't take long for a large number of traders to provide business. That broker can scam selectively, be profitable, and traders can delude themselves, believing that all is finally well enuf!