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Exposing MT4 Scams - Brokers Plugin!

  • #21
  • Aug 24, 2015 1:25am Aug 24, 2015 1:25am
Quoting shg
Okay lets assume that one broker is modifying or playing with mt4 but if you have more then 1 account with different brokers and if you see in both mt4 that the price and candle have same pattern and opening or closing price then i think you can trust them...I mean there is a chance that both broker have 1 pip difference and i think that is acceptable specially for me when i am trading H1 or H4... Anyway thanks for the video and info... which are the best brokers you suggest for other platforms...i will give it a try... thanks

They are many tricks that they are using, modifying candles is just 1 trick, i will keep updating this thread daily to expose as much as i can.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #22
  • Aug 24, 2015 1:28am Aug 24, 2015 1:28am
Quoting BubaYaga
Almost all ECN brokers will have A book trades and B book trades. Just because the broker says they're ECN doesn't necessarily mean they're not taking the other side of your trade. It just means they have ECN, and if you're a successful trader who consistently makes profits there's a good chance your trades will be A book. But, if you're like most retail traders and kinda hit and miss with questionable risk management you're probably on the B book. And if you're a scalper using low time frames, brokers are going to manipulate MT4 and get you on...

Correct, you must also remember that brokers group you by alot of things.... By country, by Deposit and by your trading style just to name a few.. so in the bigger picture 95% of retail traders are screwed.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #23
  • Aug 24, 2015 1:30am Aug 24, 2015 1:30am
Quoting brucewhain
{quote} But MT4 is also, I believe, the biggest store of open source trading software in the world. Therefore -- and this really applies mostly to FXCM CEO Drew Niv et al, direct descendants rising from the ashes of the REFCO scandal, who own MetaQuotes, and are continually introducing "difficulties" for traders (e.g. Alerts won't sound in Visual Testing; Language Editor can't be reversed except by making several clicks for each increment, requiring incessant clicking and maneuvering just to reach the "back" arrow again) and who have made it clear...
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #24
  • Aug 24, 2015 1:34am Aug 24, 2015 1:34am
if broker is direct to liquidity provider their wins will be liquidity provider losses. Brokers must hedge if they are market makers thus you play the broker and market.. If liquidity provider keeps losing they will ban the broker. Either way the system is stupid.. Bank never takes a risk and only reaps the reward... Before long will be replaced by trustless exchanges and platforms... The blockchain is unhackable and will make these crooks go bankrupt rightfully.
  • #25
  • Aug 24, 2015 1:39am Aug 24, 2015 1:39am
mt4 was built for retail clients to loose they money.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #26
  • Aug 24, 2015 4:56am Aug 24, 2015 4:56am
Quoting Soros
this is why 99% of forex traders loose!!!!!!!!!!!!!!!!!!!!!!!!
))

Statement -Statistically most of retail traders(wihout any action from a broker side) sooner or later will blow their accounts up!
Question -If the statement above is right,why a broker needs to go for additional tricks and manipulations?

Rgs.,
Success is nothing more than a few simple disciplines, practiced every day.
  • #27
  • Aug 24, 2015 5:37am Aug 24, 2015 5:37am
If you are a short term trader , like scalper etc you are screwed by default. Countless people posted stuff about it here on FF over the years.

Unless you learn how to trade on longer terms you are screwed.

I'm not talking about monthly candles, but anything below 15 min is suicidal.

And that applies to everybody and everywhere not metatrader only
So, you think you have rights? LOL
  • #28
  • Aug 24, 2015 5:58am Aug 24, 2015 5:58am
I dont normally participate in threads like this but there are a lot of people here believing this BS that their broker is changing their candles etc.

Lets think about that for a second ...........

Let use my broker, IC markets.

They are regulated in Australia and are ECN and have a huge huge huge client base

First for them to be changing candles there would have to be manager who tells and employee that he must go and sit down in front on the computer and go into clients account feeds and spike them out of a trade while all other platform are not affected.The employee must then sit there for hours a day trying to do that.He might be making at the very most $10 k a day for the broker if they scam many many traders and trades.Now lets say they get caught doing that.They will be fined Millions and might even lose their licence.Not at all worth the risk never mind the fact that the manger and employee who does this will go to jail.

Secondly- Which is better for a broker.Scamming you out of a $500 or 1k account and losing you as a client or having you pay $7 commission (never mind the cost of the spread ) for many profitable years.

If you trade 1 lot per trade and trade 5 times a day and trade 5 days a week for 8 weeks then they have made $1400 out of you just in commissions without stealing a cent

$7 per lot * 5 trades a day * 5 days a week * 8 weeks = $1400

Most traders lose money because they trade with unregulated brokers and / or dont know what they are doing.

There are many many examples here of traders who use mt4 and make boat loads of money.Either you know what you are doing or you dont.If you can believe that your mt4 is robbing you then please use a different platform to trade and come share your new winning results here but blaming mt4 for losses is just shifting the blame away from yourself.

I need to get back to my trading but wanted to share.

All the best to everyone here

Rooi



PS - Watch this video and listen to how he explains market making as most people don't understand how they make a market.

If you dont understand how the business works then you wont understand ECN or liquidity proving
Inserted Video
We miss 100% of the shots we don't take
  • #29
  • Aug 24, 2015 6:02am Aug 24, 2015 6:02am
Quoting ForexOracle
If you are a short term trader , like scalper etc you are screwed by default. Countless people posted stuff about it here on FF over the years. Unless you learn how to trade on longer terms you are screwed. I'm not talking about monthly candles, but anything below 15 min is suicidal. And that applies to everybody and everywhere not metatrader only
Agreed!
  • #30
  • Aug 24, 2015 6:09am Aug 24, 2015 6:09am
Agree here too, Rooi.
For sure start of this thread has very subjective sight.
Most traders -unfortunately- don't need an unfair broker to blow their accounts.
There is one easy strategy to use - go für H1, H4 timeframe with no SL a few pips away.

josch
trading is war - life is simple
  • #31
  • Aug 24, 2015 6:53am Aug 24, 2015 6:53am
scam milk means milk without fat ,what does scam brokers means
focus while relaxed to see better
  • #32
  • Aug 24, 2015 8:16am Aug 24, 2015 8:16am
Quoting Soros
you can have a winning strategy and still be a looser, because when you loose broker wins, its all a casino!!!
The word is lose not loose.
All you touch and all you see, is all your life will ever be.
  • #33
  • Aug 24, 2015 3:53pm Aug 24, 2015 3:53pm
Quoting Rooi
I dont normally participate in threads like this but there are a lot of people here believing this BS that their broker is changing their candles etc. Lets think about that for a second ........... Let use my broker, IC markets. They are regulated in Australia and are ECN and have a huge huge huge client base First for them to be changing candles there would have to be manager who tells and employee that he must go and sit down in front on the computer and go into clients account feeds and spike them out of a trade while all other platform are not...
Have a read of the Terms of agreement for that broker. They are trading against dark pools and liquidity providers. IF you start to win you bet they will start to mess with your order process.

Also they have this hackish process that if everyone goes into margin call territory they are allowed to take equity out of accounts which are positive to balance out the entire broker account if its about to make the broker go bust. So essentially all clients are pooling their money together in hopes that the pool isnt margin called. LOL ponzi scheme or what?
  • #34
  • Aug 24, 2015 11:52pm Aug 24, 2015 11:52pm
Repetitions, repetitions, repetitions, repetitions, so what?

Are you able to change this or to manage it?
If not, go out of this business und you won't be screwed!
Take another one, where all partners are patronizingly and the world still is rosy.

Good luck
josch
trading is war - life is simple
  • #35
  • Aug 25, 2015 12:59am Aug 25, 2015 12:59am
Quoting sidhujag
{quote} Have a read of the Terms of agreement for that broker. They are trading against dark pools and liquidity providers. IF you start to win you bet they will start to mess with your order process. Also they have this hackish process that if everyone goes into margin call territory they are allowed to take equity out of accounts which are positive to balance out the entire broker account if its about to make the broker go bust. So essentially all clients are pooling their money together in hopes that the pool isnt margin called. LOL ponzi scheme...
What you are saying is exactly right.They bundle together orders and accounts and provide leverage.If they didnt not do that most traders with small accounts would not be able to trade.The bigger the broker can be the better rates they receive from liquidity providers

Where could you go with an account of even $100 000 to trade on the open market.What would the cost and spread be if you negotiated your costs by yourself.

You can phone Barclays , HSBC , Bank of America etc and request to fill some orders of 100 k in whatever denomination and then they will laugh at you on the trading desk or charge you a massive fee and or even a 50 pip spread on the EurUsd like most bank do for their real retail clients.I just filled some orders end of last month with bank from USD into ZAR and got charged 500pip spread and a nice big fee.That is what the market is if you remember correctly.

I like that they are trading IN dark pools and against liquidity providers.Trading against each other in competition is the nature of the market.Your statement supports my point not yours.Why would it be bad to trade in dark pools ?

All accounts are segregated by law at IC Market.An accounting/law firm takes control of a bankrupt broker and pay their clients.Just like with Alpari going under.

What you are complaining about is A booking and B booking practices and that only bothers losing traders because if brokerages keep winning traders in their B book then they are just losing money hand over foot.

Rooi
We miss 100% of the shots we don't take
  • #36
  • Aug 25, 2015 1:16am Aug 25, 2015 1:16am
Quoting sidhujag
{quote} Have a read of the Terms of agreement for that broker. They are trading against dark pools and liquidity providers. IF you start to win you bet they will start to mess with your order process. Also they have this hackish process that if everyone goes into margin call territory they are allowed to take equity out of accounts which are positive to balance out the entire broker account if its about to make the broker go bust. So essentially all clients are pooling their money together in hopes that the pool isnt margin called. LOL ponzi scheme...
I'd like to say that you are "deflecting" my friend. You mentioned that a broker can do several things to prevent their firm from going bust. Yet, between the market, yourself, and the broker, which has the highest chance to go bust? The answer would be the broker. Remember that the broker is giving us "leverage" which allows us to trade with the micro lots which we are allowed to in the first place. If the broker doesn't stop us out at say x amount, then the market can clearly keep running against us (our floating loss) thus making the broker "hold the bag" as they gave you the leverage to begin with. Remember if the clients balance goes below 0, then the broker has to cover the loss!
Second of all, people are so quick to blame the brokers for their losses, when the reality is the broker doesn't decide what we buy or sell, and for how much. Simply look at what happened yesterday on EU and other yen pairs. People's stop loss would get it, and right after it does, they would open a fresh position in the same direction which they lost in. Basically defeating the purpose of the stop loss to begin with. Our bias causes our losses, as we treat forex as a casino game instead of a supply and demand market which it is.
The broker isn't to blame when we ignore "price action". The broker isn't to blame when we don't take profit. However the broker is to blame when we have a huge floating loss or even a margin call... We need to stop deflecting and figure out that it isn't the broker, but the trade that is the problem.
Simply ask yourself this one question, if the market was to begin it's very first tick in 10 mins... Would you buy or sell? If prior to the first tick you already have an idea of either buying or selling the reality is you are ignoring "supply and demand" and "price action". How could a person trade SUPPORT OR RESISTANCE before the first tick. Support and resistance change every single day, and it is evident with how the prices leave wicks at DAILY pivots. Open up your eyes and stop blaming the brokers, as the brokers don't cause people to hold for 800 pip drawdown!
To be or not to be; a loser. That's the question.
  • #37
  • Aug 25, 2015 1:27am Aug 25, 2015 1:27am
Quoting ForexOracle
If you are a short term trader , like scalper etc you are screwed by default. Countless people posted stuff about it here on FF over the years. Unless you learn how to trade on longer terms you are screwed. I'm not talking about monthly candles, but anything below 15 min is suicidal. And that applies to everybody and everywhere not metatrader only
I'd disagree with you 1000%. How could anyone be "screwed" if they trade on anything lower then 15m tf, when what you see on every tf lower then the 15m is what creates the very candle on the 15m which makes you buy or sell... Think about how many people trade the higher tf, and open and close positions PRIOR to the candle on thaeir respected tf even closing. In other words, if you are trading the 1hr tf, and you are opening positions before or after the 1hr bar closes, then you aren't trading the 1hr tf. You are trading tick or even 1m without even knowing it.
No matter what tf you trade, you see the very same exact formations. Which of course means that the higher you go, the less accurate your entry will be, thus causing you to have to risk less to avoid larger drawdowns. People don't like trading the lower tf because it is to "fast" or has to much noise but the reality is right before you see a breakout of say 100 or 200 pips, isn't there 1 candle on the 1m which is engulfed, and never re-engulfed. By the time you get confirmation on the higher tf you are 1 hr to late and chasing the moving train.
The most common way to trade is swing trading, and we clearly see how well it has gone for people in breakout markets. Scalping is considered unorthodox because that is how the system actually works. Herd trading proves that, why do you think we see "Accumulation" after break outs? Well because that is when the market can absorb the most volume in order to figure out where it can make more money prior to the new breakout. If the market goes flat for say 4 hours, and the buy side has gotten 350millions dollars in buys, and the sell has gotten 50 million do you think that the bulls should win? Of course not, as supply and demand states that the market will move AGAINST the herd and not with it!
I think we lack the ability of understanding how the market works, which is why we take the easy way out and try to pick tops and bottoms, instead of looking for the 20-30 pip move at a time.

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The price kept moving up, he kept stopping out, and he kept shorting, only to post the above message. Of course he would say that the lower tf is against him, but how could a person SHORT when not one candle on the lower tf has engulfed the new high created. Remember with an ENGULF that is your CONFIRMED signal that either bear or bull has lost control.
To be or not to be; a loser. That's the question.
  • #38
  • Aug 25, 2015 1:41am Aug 25, 2015 1:41am
Quoting ForexOracle
If you are a short term trader , like scalper etc you are screwed by default. Countless people posted stuff about it here on FF over the years. Unless you learn how to trade on longer terms you are screwed. I'm not talking about monthly candles, but anything below 15 min is suicidal. And that applies to everybody and everywhere not metatrader only

Trading a higher time frame only means that it takes longer to blow the account...
It gives the appearance of success because survival lasts a little longer ...
  • #39
  • Aug 25, 2015 1:44am Aug 25, 2015 1:44am
Quoting Mingary
{quote} Trading a higher time frame only means that it takes longer to blow the account... It gives the appearance of success because survival lasts a little longer ...
Very true, the time frame does not matter. It also does not matter if you are using MT4 or not.
Forex is a losers game.
  • #40
  • Aug 25, 2015 8:21am Aug 25, 2015 8:21am
Quoting Mingary
{quote} Trading a higher time frame only means that it takes longer to blow the account... It gives the appearance of success because survival lasts a little longer ...
Thats true for pretty close to 100% of the so called " forex traders" .

But you find a few ones that beat the odds.

That said i never had the privilege to meet a scalper who made it.
So, you think you have rights? LOL
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