Is Meta Trader 4 a rigged platform ? | Forex Factory

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Is Meta Trader 4 a rigged platform ?

  • #1
  • First Post: Edited Nov 14, 2009 11:37pm Nov 1, 2009 10:36pm | Edited Nov 14, 2009 11:37pm
It is my opinion that the meta-quotes trading platform Meta Trader 4 and Meta Trader 5 are nothing more than rigged slot machines..

I've previously used the mt4 for my trades and still do for charting and analysis. I've had various incidences of error messages such as - 'no connection' 'invalid price' 'off-quotes' and a myriad of other messages when trying to enter/exit the market at crucial times. Obviously I became suspicious and did a little digging on good old google.

This is what I've came up with -





This video MADE MY BLOOD BOIL -

Inserted Video

Inserted Video


I've also read on here that a user phoned up meta-quotes pretending to be a brokerage firm wanting to use their product . Apparently the rep from meta-quotes will tell you all about the add-ons / plug-ins that will ensure that YOU(meaning the broker) will always have an edge so that the retail trader will lose.

Is this all bull-sheet ? Well, I guess you research for yourself and make your own mind up. I personally will never use mt4 for live trading due to my OWN experience.
  • #2
  • Nov 2, 2009 12:09am Nov 2, 2009 12:09am
You will find that every single platform including banks and hedge fund platforms are all the same. Have dealer options to protect the dealer before the client.

Calling mt4 a scam would be the same as calling spot-fx a scam. Because even the banks do these things to traders orders.

Want protection from this? Trade cash on spreads. You won't make very much, but at least you won't be paranoid. Because you hold the cash in your hands.
  • #3
  • Nov 2, 2009 12:34am Nov 2, 2009 12:34am
Quoting Takisd
You will find that every single platform including banks and hedge fund platforms are all the same. Have dealer options to protect the dealer before the client.

Calling mt4 a scam would be the same as calling spot-fx a scam. Because even the banks do these things to traders orders.

Want protection from this? Trade cash on spreads. You won't make very much, but at least you won't be paranoid. Because you hold the cash in your hands.
I never called MT4 a SCAM, I merely posed the question - " Is MT4 a scam platform?"

And just for the record, I'm not "paranoid" one little bit. I just posted what I have discovered spending 1-2 hours investigating a hunch I had. It's on the web for everyone to see. It's up-to you what you do with the information.

You could be right, maybe spot fx is indeed a scam . After-all, if 95-98% of spot FX speculators fail then surely that must tell it's own story.

I'm coming to realise what the term BROKEr really means .
  • #4
  • Nov 2, 2009 4:50am Nov 2, 2009 4:50am
http://www.econosseur.com/assets_c/2...mb-510x337.jpg
/ ... clarifying decisions ... /
  • #5
  • Nov 2, 2009 5:58am Nov 2, 2009 5:58am
Errr... Images don't show.

Anyways, meet the dreadful reality, MT4 is one of the leading platforms, no one likes pip-hunters, brokers are interested to be profitable, traders get dumber and dumber and the end of the world is near (in 2012).

Seriously, what do you expect? 99.99% of all brokers don't get your positions anywhere, but rather you trade inside the brokers' servers. Even in ECN/STP still happens the same, while the chain is a bit longer. So when you profit, you take funds DIRECTLY from the broker. You think he likes it? No way.

Now the other thing is, that all brokers know scalpers eventually lose their deposits. Always. That is why you are allowed to hunt your 2 pips sometimes.

Who do you think Metaquotes sell their platform to? To traders? No way, to brokers. Why on earth would anyone act in the interests of his customer, who pays him money, I wonder? Any ideas?

So here it comes again, blah-blah, they don't allow me to scalp, SCAM everywhere, and The Great Brokergate Conspiracy Theory, sick and tired of reading this. Your inability to trade and comply with Money Management doesn't make a broker scam. It makes you... (No, sorry, here we have bad words.)
  • #6
  • Nov 2, 2009 9:30am Nov 2, 2009 9:30am
Quoting liquidmoment
It is my opinion that the meta-quotes trading platform Meta Trader 4 and Meta Trader 5 are nothing more than rigged slot machines..

I've previously used the mt4 for my trades and still do for charting and analysis....
All the tools available to brokers are there in MT4, but that doesn't mean the brokers necessarily use them. With the advent of MT4 ECN brokers, bucketshops risk losing their clients if they try to screw them at every opportunity. Traders aren't stupid, and know when they're being screwed with.

About 3 years ago, if you wanted to use MT4, the bucketshops held all the cards. Not so anymore. MBT, ATC Brokers, PFG, all are ECN's that offer MT4 now. Quite easy for an upset bucketshop client to just switch, and the buckets know this, so I don't believe they use all of the "trader defeating" tools that are available to them.
  • #7
  • Nov 2, 2009 10:56am Nov 2, 2009 10:56am
This is just silly. Borkers are not going to bother taking out individual stops. They don't need to. They know it's only a matter of time before you blow your account anyway due to trading incompetence/inexperience/stupidity/drunk/bad hair day/whatever.

Traders are their own worst enemy, not borkers.
  • #8
  • Nov 2, 2009 11:01am Nov 2, 2009 11:01am
Quoting opie999
This is just silly. Borkers are not going to bother taking out individual stops. They don't need to. They know it's only a matter of time before you blow your account anyway due to trading incompetence/inexperience/stupidity/drunk/bad hair day/whatever.

Traders are their own worst enemy, not borkers.
Lol, well I have no great love for the "borkers", but I agree that learning how to trade effectively is the better place to apply your efforts...
  • #9
  • Nov 2, 2009 11:15am Nov 2, 2009 11:15am
Quoting TC East
Lol, well I have no great love for the "borkers",
Nor I. That's why I rarely use hard stops.
  • #10
  • Nov 2, 2009 12:32pm Nov 2, 2009 12:32pm
I feel its better just to seek out a broker that doesnt play those games. Trading is tough enough that if you even THINK your broker stop-hunts its time to head for the door. As more ECN brokers come online this will eventually become a problem of the past. We'll be telling our grandkids - "I remember when brokers traded against us and hit our stops on purpose - REALLY GRANDMA!? WOW - THATS CRAZY!!"
  • #11
  • Nov 3, 2009 8:35am Nov 3, 2009 8:35am
Quoting Acrita
Errr... Images don't show.
Try this.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: metaQuotesVirtualDealer1.jpg Size: 108 KB
Click to Enlarge Name: metaQuotesVirtualDealer2.jpg Size: 111 KB
  • #12
  • Edited 4:14pm Nov 3, 2009 9:00am | Edited 4:14pm
There are 'stealthy' stop and profit indicators around so its nothing new...

I think the purpose of the video is trying to get people to visit there site and get hits on there affiliate advertising...
  • #13
  • Nov 3, 2009 9:16am Nov 3, 2009 9:16am
Bingo.
  • #14
  • Nov 3, 2009 10:54am Nov 3, 2009 10:54am
Quoting opie999
Bingo.
Hmmm.. nice way of advertizing, gotta keep that in mind. It's like telling people obvious wide-known things and attract them to your website.

Yo, PEOPLE! SMOKING IS VERY BAD FOR YOUR HEALTH! Visit my website!!!

Anybody? Does it work? I better go check my Google Analytics account, brb.
  • #15
  • Nov 6, 2009 6:07am Nov 6, 2009 6:07am
Quoting Acrita
Hmmm.. nice way of advertizing, gotta keep that in mind. It's like telling people obvious wide-known things and attract them to your website.

Yo, PEOPLE! SMOKING IS VERY BAD FOR YOUR HEALTH! Visit my website!!!

Anybody? Does it work? I better go check my Google Analytics account, brb.
My intuition tells me that 'Acrita' and 'TC east' are on the side of the brokers. I see that the both of you are pretty much defending brokers over on the '
http://cdn.forexfactory.com/images/m..._finallink.gif MT4 Brokers' Virtual Dealer Plug-In' Thread

My intuition also tells me that you both have hidden agenda's and are on the same payroll .
  • #16
  • Nov 6, 2009 7:28am Nov 6, 2009 7:28am
You need to use MT4 with an ECN broker. If you get off quotes or requotes errors on an ECN, just tell the broker they are liars and close your account. Those errors do not happen on a real ECN. They are Dealing Desk errors.
  • #17
  • Nov 6, 2009 7:50am Nov 6, 2009 7:50am
Quoting liquidmoment
My intuition also tells me that you both have hidden agenda's and are on the same payroll .
Yeah, you have figured us all out. Every year all the brokers' representatives gather in an old cemetery wearing black robes and masks, they serve the black mesa and ritually kill one trader and then drink his blood. Then, when done, they pay me my 30 pieces of silver and go away.

Oh wait, shi... You were not supposed to hear that. Sorry, I guess I know the victim for the next year gathering. What's your address please?

You are funny. When you are told about your inability to make reasonable trading you start blaming everyone for participation in the great conspiracy theory. I wish anyone paid me for telling people they are bad traders. Anyone? Anyone hire me please?
  • #18
  • Nov 6, 2009 7:54am Nov 6, 2009 7:54am
Quoting liquidmoment
My intuition tells me that 'Acrita' and 'TC east' are on the side of the brokers. I see that the both of you are pretty much defending brokers over on the '
http://cdn.forexfactory.com/images/m..._finallink.gif MT4 Brokers' Virtual Dealer Plug-In' Thread

My intuition also tells me that you both have hidden agenda's and are on the same payroll .
Lol, yeah this is pretty funny. I wasn't sure what Acrita was talking about until I saw this. Your right Acrita; oh crap! He found us out!! Liquid-how does your "intuition" serve you in your trading if you don't mind sharing?

I mentioned MBT, PFG, and ATC brokers as ECN's that are an alternative to bucketshop brokers; who's "payroll" am I on would you suppose?

Hehe...best of luck
  • #19
  • Last Post: Nov 6, 2009 8:14am Nov 6, 2009 8:14am
I'm a little dumber now after reading this thread.
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