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Exposing MT4 Scams - Brokers Plugin!

  • #41
  • Aug 27, 2015 12:23am Aug 27, 2015 12:23am
Quoting Rooi
{quote} 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...
Or you can go oanda and trade against other retailers. There's no bs with dealer. With large accounts you can get closer to interbank but in the end trading against banks will get you account cleaned.

Even better is is to wait until someone implements forex of a blockchain then trade trustlessly without banks which will slowly wither to dust
  • #42
  • Oct 1, 2015 3:25pm Oct 1, 2015 3:25pm
Quoting sidhujag
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?...
why are you making up stuff? theres nothing on their pds about trading against dark pools and liquidity providers and pretty much every broker pool the clients money ( no wonder on 15 january all nerds tried to withdraw their funds ). last but not least; if you for whatever reason get margin called, it's because you in first place are an idiot trying to gamble with your equity
  • #43
  • Oct 1, 2015 5:05pm Oct 1, 2015 5:05pm
If all what is being said so far on the majority is true then why trade Forex?
Manipulations of candles, dark pools, stop hunting, Dealing desk, no dealing desk, liquidity providers, MT4, ECN and all what not......., if all these things are against you then don't trade forex else the Casino will be a more better place to go give away somebody's money.

When a candle is manipulated per say or a dealer is trying to stop hunt a first trader, it is clear that the dealer on the other hand is also helping a second trader who is trading in the opposite direction as the first person.
  • #44
  • Oct 1, 2015 6:13pm Oct 1, 2015 6:13pm
Quoting maxwell-eqtn
If all what is being said so far on the majority is true then why trade Forex? Manipulations of candles, dark pools, stop hunting, Dealing desk, no dealing desk, liquidity providers, MT4, ECN and all what not......., if all these things are against you then don't trade forex else the Casino will be a more better place to go give away somebody's money. When a candle is manipulated per say or a dealer is trying to stop hunt a first trader, it is clear that the dealer on the other hand is also helping a second trader who is trading in the opposite...
I sent you a pm some weeks ago. I was expecting your reply. It was a question concerning another thread (more simple is impossible) i would highly appreciate if you reply as soon as you see the PM.

Thanks.
  • #45
  • Oct 1, 2015 7:01pm Oct 1, 2015 7:01pm
Some people here are so lost, I feel sorry for you......It's a tough game no doubt about it.
YES it is true that many brokers play some tricks with their clients, it is true that MT4 by default was designed for market makers to attract gamblers who want to bet on cfd and forex.. It is true that there are many plugins and all kinds of software to manipulate orders........ BUT SO WHAT??? I guarantee you that even if the whole market was perfect and everything was 100% fair, the majority of people are still going to lose on daily basis!
By default (without proper training, understanding of the game and enough experience) people just suck at trading.( and that is actually true for any profession). Stop complaining and learn how to trade. OR quit! It's OK to quit. After all, trading is one of the hardest games in the world. It's not suitable game for the weak, the lazy or the stupid.
By the way, now there are so many MT4 brokers who offer pretty good conditions. (with the STP bridges on the backend, raw interbank spreads, fast execution, relatively good commissions......) If you cannot make money with these brokers - then there is no hope for you!
Some people here are probably too young to remember the trading conditions from 10 years ago. Things like 3 - 5 pips spread on the majors, re quotes, slow execution.. buggy software..... And yet some people made money day in day out for years! Some made fortunes. Even with these horrible trading conditions (by today's standards).
Winners train hard, work hard and win big. Losers complain all the time and quit!
  • #46
  • Oct 1, 2015 9:04pm Oct 1, 2015 9:04pm
Quoting Rtm
{quote} You said it! Unfortunately though I have come across a new scam broker which I submitted my entire application, and made the mistake of depositing money also through skrill before anything. Royal forex (rfxt.com) And there was nothing that ever came back to me! NO emails saying I even signed up, I talked to support a couple times, they said to wait. Nothing. Called number, no answer nothing. So here has nothing to do with trading just a PURE SCAM.
Well, if the they really cheat you, report about it to the regulators! Of course there are scams everywhere in any business. But you have to do your homework first. Do a proper research before you put your money on the line. And even after you do research start small. Test the water. And NEVER put all of you capital in one broker.(even if they look like the best in the world).
I personally use only brokers regulated by the FCA in UK, CFTC/NFA in US and ASIC in Australia. Everything else is just too risky. Especially companies registered in third world countries or tax heavens/islands.
  • #47
  • Oct 2, 2015 3:27am Oct 2, 2015 3:27am
It seems to me that the bottom line is simple. When going into any business or profession one must, firstly, examine the pros and cons of that business or profession. Then having satisfied oneself that it is the way you wish to go to build your new business there are certain things you must do.
1.Get a proper professional education from a reputable place.there are some about but please do not just go on a weekend course and expect to be making money on monday morning It will not happen because at that point you know sweet FA about the business of trading.
2.Get a regular meeting with some people who are doing the business and making money,learn from them and role model excellence,spending time to learn a good methodology that works, based around price action, supply demand and reading charts for thousands of hours.
3 Use a demo account with a reputable broker correctly registered and if that broker is based near you go and visit them ,they are all happy for you to do that and if not do not use that broker ( am in UK so could visit my broker in London to see what they really are doing etc.)
4. Prepare yourself to develop a consistent pattern of profitable trades with correct money management.
5 When you are trading consistently with a 2:1 minimum profit:loss ratio you are ready to go live with a small amount of real money.
6 Make sure you fully understand the money management side of the business.
7 Make sure you are very clear about how to handle the emotional side of the business. Trading is actually really boring and needs untold patience, discipline, focus, belief, a sense of humour tolerance etc.
8 As a trader you click the entry button,you click the stop placement and the target.you monitor your trade.You and only you are responsible for each and every trade. If it wins, why? learn from that trade If it loses, why? learn from that trade.Keep a journal.Your decision, your responsibility NOT THE BROKER,
your wife, girl friend, boyfriend, the news, the weather, political statements, and so on. YOU DECIDED TO DO THAT TRADE NO ONE ELSE.
Most people who complain about things in life do so because they are not very good at what the are complaining about.Take responsibility for your actions.
Look in the mirror, work it out, stay positive, learn something new every day.Trading is a very tough game ,however it can be very rewarding to those who understand the way it works ,that takes time, patience and dedication. Good luck.Happy Trading.
  • #48
  • Oct 2, 2015 4:41am Oct 2, 2015 4:41am
Quoting Soros
{quote} ECN accounts are the same thing, they want you to believe thats its true ECN but meanwhile its not, brokers keep Books.... you will never be succesful in the long run as a retail trader, unless you move to Prime brokers which requires a minimum of $25k deposit, but i believe Ctrader is very honest and transparent, so if you trade via Ctrader then you can have a chance to beat these brokers.
what do you mean by beat? a broker always makes money doesn't it? i mean, you always pay spread or commision.
do you think that this ''system'' also used on demo accounts via mt4? or only at live accounts?

if this is true and you wont be able to make money on mt4... then it will be hard for me to step over to ctrader (.mq5 custom made indicators)

greeting, TK
quality comes before quantity
  • #49
  • Oct 2, 2015 5:08am Oct 2, 2015 5:08am
http://www.tradingmemes.com/wp-conte...2219406301.jpg
  • #50
  • Oct 2, 2015 5:55am Oct 2, 2015 5:55am
wow nice expose of dirty tricks which brokers user. Now i understand why do i get requotes with scammers and always market execution accounts have this weird stop hunting problems. This is a curse to scalpers on market execution accounts. Dont you think if brokers can do this with MT4 why cant they do it with Ctrader or any other webplatform?
Believe in your thesis and stick to the plan, don't get scared with moves
  • #51
  • Edited 9:57am Oct 2, 2015 9:16am | Edited 9:57am
Why dont you guys trade with a broker and watch price on another broker. When there is something different you yell fire. This is what I do but i don worry about little pips because I trade looking for 100's of pips.
  • #52
  • Oct 2, 2015 10:57am Oct 2, 2015 10:57am
Quoting akash14
wow nice expose of dirty tricks which brokers user. Now i understand why do i get requotes with scammers and always market execution accounts have this weird stop hunting problems. This is a curse to scalpers on market execution accounts. Dont you think if brokers can do this with MT4 why cant they do it with Ctrader or any other webplatform?
These (probably unregulated) bucketshops will not suddenly become reputable brokers just by offering other platforms than MT4. If the "broker" wants to cheat on you, he'll find a way irrespective of the platform he's offering to you.
There are plenty of honest MT4 brokers by the way. It's not the platforms fault.
  • #53
  • Oct 4, 2015 4:56am Oct 4, 2015 4:56am
guys even the biggest and most regulated brokers are doing these tricks, if you do your research you will find out that brokers like Gain Capital have been fined for such tricks!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #54
  • Oct 4, 2015 4:59am Oct 4, 2015 4:59am
Here is an article on FXCM, i wonder what Jason Rodgers will say about this: http://www.financemagnates.com/forex...-clients-back/
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #55
  • Oct 4, 2015 2:55pm Oct 4, 2015 2:55pm
Quoting Soros
guys even the biggest and most regulated brokers are doing these tricks, if you do your research you will find out that brokers like Gain Capital have been fined for such tricks!
I agree with Gdi post #51... Did you even do research on your own except reading some articels on fxcm
quality comes before quantity
  • #56
  • Oct 4, 2015 3:15pm Oct 4, 2015 3:15pm
It is all part of cam piton, stocks and other markets is loosing money, coz traders invest in forex.

Ok, there is plugins and all kind off stuff, so what. Stop scalping and start swing trading, thats it, problem is solved.
In stock market there is no such a thing as scalping m1,m5 coz that madness. First you have a fee for every trade, second you getting fear price by the market, which can be any where, 10, 20 pips from your entry, third sliperege, it is when big order is coming, and they close your position not by the Sl but 50 pips below your stop. And many, many other stuff.

what do you think, they sit there and monitoring every trader, thats bs. coz we all use the same stuff, patterns, movings, Tl. How they say, if 1000 ppl can see the same at chart, what you see, that means you are in the right trade. Ha ha, and all that 1000 ppl, including you have the same SL.

have fun))))) enjoy trading))))
  • #57
  • Oct 4, 2015 7:09pm Oct 4, 2015 7:09pm
Great story but i am not convinced. Firstly, the logistics of doing this. Every broker around the world would not only have to be doing this 24hrs a day 5 days a week they would all have to be doing the same thing. Why? because it would be too easy to look at another brokers chart and see the difference.

Secondly, in my country Australia at least, this would be highly illegal. Not only would the broker be fined a lot of money but they would have their financial service license taken away from them. And the CEO's would not be able to work in the financial field for at least 10 years.

Im sure there are lots of dodgy brokers in unregulated countries out there as there seem to be many horror stories but i don't think, in my country at least, this is something that happens. Besides, why would brokers offer other trading platforms if they can do all this on MT4 but not the others?

And lets think about this again. If person A has a buy order at a certain price and Person B has a sell order, who do they take out? Or do they take them both out? If they take both out the charts would look rather silly. And what about longer term charts such as the daily? It would be hard for them to spike the price thousands of pips and then change the candle size without anyone noticing.

And besides, i trade rather profitably, so why does this not happen to me? Am i special? I just dont see how any of this could be possible. Unless the person who wrote this post works for a broker and has seen a real MT4 back end at work. Not some plug in for end user MT4.
  • #58
  • Oct 9, 2015 3:58pm Oct 9, 2015 3:58pm
Quoting Soros
Here is an article on FXCM, i wonder what Jason Rodgers will say about this
Hi Soros, here's my response from an earlier discussion: http://www.forexfactory.com/showthre...70#post8190670
  • #59
  • Oct 11, 2015 4:13am Oct 11, 2015 4:13am
I have experienced the 4-5 second delay as you posted first video. Now that kind of makes sense. I clicked close....was waiting.... Waiting....thinking f##k....and sure enough my scalp closed negative as opposed to the couple of points I had when I executed close order

Had it work in my favour too....price jumped up and 2 extra points in the bank. Unreliable....doesnt happen every time....just sometimes.

Not sure about c trader....their mobile app totally sucks....and i like mt4 android. Its great. You can have indicators...etc....just like on computer.

Will have to try the pc platform. Is there any proof that it cant be manipulated just like the mt4??
  • #60
  • Oct 11, 2015 5:01am Oct 11, 2015 5:01am
Quoting Forexmeoff
I have experienced the 4-5 second delay as you posted first video. Now that kind of makes sense. I clicked close....was waiting.... Waiting....thinking f##k....and sure enough my scalp closed negative as opposed to the couple of points I had when I executed close order Had it work in my favour too....price jumped up and 2 extra points in the bank. Unreliable....doesnt happen every time....just sometimes. Not sure about c trader....their mobile app totally sucks....and i like mt4 android. Its great. You can have indicators...etc....just like on computer....
I can tell my experience with a Market Maker bonus broker, when I was loosing money I generally had a very bad excution (not always)

I got a lot of delays and requote... And the particular thing the the worst requote delay was on profitable trades.... When closing a red trade never a problem :-)


But, when I started to be profitable the execution changed.... And I didn't have any problem (actually was really good!). I can tell you that the requote and problems disappered totally .... So, I think the A-BOok and B-book is real.

So, i am pretty sure that there is some targeting from the broker for the clients who loose money and probably are placed in the "looser class"...
Buy at the Low, Sell at the High You make money by waiting not by trading.
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