Broker Manipulation | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Binary options manipulation by a large broker? 14 replies

Broker's Feed Manipulation??? 54 replies

Broker manipulation on indicators? 8 replies

Broker Price Manipulation? 35 replies

EURO Manipulation - Call the cops 12 replies

Attachments: Broker Manipulation
Exit Attachments

Broker Manipulation

  • #21
  • Apr 8, 2012 5:24pm Apr 8, 2012 5:24pm
I have never used IB, but always had the impression they were one of the better retail brokers. I know 3 top tier traders who happily use them.

That said, when I was thinking of opening an account with IB their customer service was abysmal and they seemed to pride themselves on this fact.

Are IB MM’s?

Eat, have you tried Duka?
  • #22
  • Apr 10, 2012 11:47am Apr 10, 2012 11:47am
I have never used Dukascopy before... I heard bad things about them from a forex trader friend of mind so decided not to even check them out. I'm staying away from forex for awhile, the manipulation is unbelievable. It's almost as if the market is driven against all traders all the time, and this is in fact what moves the market. The retail traders lose...
  • #23
  • Apr 10, 2012 12:56pm Apr 10, 2012 12:56pm
Quoting Eatmypips
I have never used Dukascopy before... I heard bad things about them from a forex trader friend of mind so decided not to even check them out. I'm staying away from forex for awhile, the manipulation is unbelievable. It's almost as if the market is driven against all traders all the time, and this is in fact what moves the market. The retail traders lose...
Dukas is one of the better brokers out there... they just don't grove well with new traders.

It sounds like you're trading without a clear plan, just taking bets based on your opinion. For new traders, this usually leads to losses.

Consider it a learning experience and take a break to spend time building systems and backtesting / demo forward testing new trading ideas.

Funny enough though, sometimes when things are acting very choppy and there's a lot of mixed signals, I ask myself "what could the market do right now that will screw over the most traders?"... the answer usually plays out. That's not to say it's rigged, just that such observations can be an edge where you're on the winning side of that movement, even if the trade goes against your intuition.
FXGears.com
  • #24
  • Apr 10, 2012 5:56pm Apr 10, 2012 5:56pm
meaning?

Quoting Jack_Larkin
Dukas just don't grove well with new traders.
  • #25
  • Apr 10, 2012 6:02pm Apr 10, 2012 6:02pm
Quoting PeterE
meaning?
Kinda making my quote look out of context by malforming it like that. :/



JForex is unique to Dukas and a lot of new traders find the learning curve a little steep. A lot of newer traders get attached to MT4 as well, which Dukas doesn't work with directly.

Plus, newer traders with smaller accounts don't get the most attractive commission rate..

At least, these are the complaints I hear the most from new traders. Personally I love JForex and find their commission structure pretty good for accounts of size.
FXGears.com
  • #26
  • Apr 11, 2012 11:22am Apr 11, 2012 11:22am
Hi Jack, yes i'm going to take a break, consider it an expensive lesson, but most importantly I am changing brokers. Can someone please tell me, how is forex trading possible, when the broker who makes money from your losses, feeds you whatever prices they choose? Please see attached charts. Time is approx 12.00 pm East Std Time. No news out, market is quiet. In my charts with two data feeds, I have a seperation of plus 14 pips at one instance, and then a seperation of minus 2 pips at another instance not too much later.

I would like to propose an experiment with everyone who wishes to paticipate. Here is my experiement.

Going off the time located at this link here http://www.timeanddate.com/worldclock/city.html?n=179 with New York selected, I propose the following....

Everyone willing to participate hits a "print screen" on there computer at exactly 1300 hrs tomorrow. That is exactly 1300 hrs and 00 seconds, press the print screen button, then go into paint program and hit "control v", and paste the results into this forum to compare different data feeds...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: IB SUX1.png Size: 234 KB
Click to Enlarge Name: IBSUX2.png Size: 240 KB
  • #27
  • Apr 11, 2012 11:26am Apr 11, 2012 11:26am
The price feeds above are Interactive Brokers 1.3118 and Mig bank 1.3104 and then IB 1.3104 and Mig 1.3106 if it's too small to read.


And no, I don't think there is a delay with data feeds big enough in a quiet no news market to create this seperation... Looking forward to seeing other results from 1300hrs tomorrow.
  • #28
  • Apr 11, 2012 11:54am Apr 11, 2012 11:54am
Quoting Eatmypips
The price feeds above are Interactive Brokers 1.3118 and Mig bank 1.3104 and then IB 1.3104 and Mig 1.3106 if it's too small to read.


And no, I don't think there is a delay with data feeds big enough in a quiet no news market to create this seperation... Looking forward to seeing other results from 1300hrs tomorrow.
You mean 1300hrs GMT or New York time?
  • #29
  • Apr 11, 2012 12:35pm Apr 11, 2012 12:35pm
1300hrs EDT (eastern daylight time) Just under 24 hours from now. Clickong on link is the time to use. When the time in the link is 1300hrs...
  • #30
  • Apr 11, 2012 12:40pm Apr 11, 2012 12:40pm
Forgot to mention the pair. I will submit a print screen of all the 6 major pairs prices at 1300 hrs tomorrow. If you can't have 6 charts open at once then do euro, followed by gbp, chf, aud.
  • #31
  • Apr 11, 2012 12:44pm Apr 11, 2012 12:44pm
To clarify... I will submit one print screen of the 6 major charts all on one scrren taken at exactly 1300hrs tomorrow with Interactive brokers data feed...
  • #32
  • Apr 11, 2012 12:44pm Apr 11, 2012 12:44pm
Hi Eatmypips,

what i can see is that the IB prices are correct and the other one is a Demo-account.
do never take a demo-price-feed to prove something.

If a Broker would have wrong pricefeed that would be a gift to traders.
I would buy the IB-Price at 1.3105 and sell on a other broker 1.3118
  • #33
  • Apr 11, 2012 12:49pm Apr 11, 2012 12:49pm
Hi climber. I understand it's a demo account data feed, but it should still be pretty close. This is only one of many many things that has raised my suspicions with Interactive Brokers. PLease paticipate in the 1300hrs experiment tomorrow.
  • #34
  • Apr 11, 2012 9:51pm Apr 11, 2012 9:51pm
Quoting Eatmypips
The price feeds above are Interactive Brokers 1.3118 and Mig bank 1.3104 and then IB 1.3104 and Mig 1.3106 if it's too small to read.


And no, I don't think there is a delay with data feeds big enough in a quiet no news market to create this separation... Looking forward to seeing other results from 1300hrs tomorrow.
Most FX brokers will have different prices. This is due to FX not being a exchange market. Pepperstone will have different prices to both posted and if you looked at IG markets maybe different again.

If you are sick of FX maybe FX futures are better for you as it's exchange traded.

scfx
The best indicator is price.
  • #35
  • Apr 12, 2012 10:14pm Apr 12, 2012 10:14pm
Here's the prices if anyone else also did same.

Euro - 1.31775
Chf - 0.91195
Gbp - 1.59585
Aud - 1.04355
Cad - 0.99475
Jpy - 80.91
Attached Image (click to enlarge)
Click to Enlarge Name: IB Data Feed.png Size: 269 KB
  • #36
  • Apr 12, 2012 11:57pm Apr 12, 2012 11:57pm
^ still uses internet explorer.
  • #37
  • Apr 13, 2012 3:12am Apr 13, 2012 3:12am
Quoting Eatmypips
Here's the prices if anyone else also did same.

Euro - 1.31775
Chf - 0.91195
Gbp - 1.59585
Aud - 1.04355
Cad - 0.99475
Jpy - 80.91
i have the same Prices on 2 Brokers, max difference is 2 pips because of the larger spreed.
  • #38
  • Apr 14, 2012 2:10am Apr 14, 2012 2:10am
Hi Climber. I would like to do this test again, but next time I will be live in 1 - 2 trades, and the time for test will not be advertised. Are you interested? If so please pm me...
  • #39
  • Apr 19, 2012 4:26am Apr 19, 2012 4:26am
Hi Climber,

Care to post your results????

Unless of course you work for interactive brokers! Right?

Nice one.
  • #40
  • Jul 21, 2012 5:40am Jul 21, 2012 5:40am
Hi, sorry to hear about that, for what it's worth,you are in good company, it happens to a lot of people. How do you think that the broker chased your stop though? Given what you said, they would have to have the firepower to move the market at least 11 pips (assuming the mkt was at the spike level when you placed the stop)...do you think that is possible...I understand increasing the spread by a few pips when the market is close to your stop loss level, but being able to move the market to chase a retail size stop loss seems a bit far fetched...I imagine it would take billions to achieve something like that and even then that would be very difficult

Quoting Eatmypips
Hi pipmutt. Yes that's what i'm saying. I believe they are individually targeting my account, possibly because prior to them sending me this disclosure statement to sign, which you are correct, it is the same statement, I had been successfully trading against them. Why did IB send me this statement 2 months ago when I had been trading forex with them for almost 2 years and have had my account with them for 7 years? Why did I find it impossible against great odds to make ANY profitable trades with tham after they sent me this to sign? As for IB chasing...
0 traders viewing now