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Be cautious of Myfxbook stats. They can be manipulated.

  • #21
  • Apr 28, 2016 6:54am Apr 28, 2016 6:54am
Quoting trader34
{quote} I told You already it's not right place to Discuss our system That's why i post my link to ask questions. also i told you i will answer all questions there because we have discussing all with our management team up to date so again i remember you please come to my System treated page or myfxbook discuss page I have to introduce them because that is my impotent part of revenue.. yes of course!! About The pips DD: simple answer for you that our system not a Signal service the latest option allowing to set a risk level for investor how much...
Don't judgement anyone without study bcz we have stable growth from 2014 so we are the winners[/quote] Thanks but no thanks...I won't be giving your thread any traffic... You say this is not the place to discuss it...well, it seemed a good place for you to promote it! As for your stable growth for 2 years..please refer to the entire point of this thread which is that so called verified history is easily faked. So, how about you stop trying to recruit and just keep winning [/quote]


You catch the point.. That's it.!!!
We will prove our all links not fake Why? Simple answer is that the BPGE PAMM and Sector Capital PAMM was a top performing PAMM accounts at HotFroex with 5M Equity/thousand of Investors.
Good Luck and Happy Trading..oh...NO, filtering Scam
  • #22
  • Apr 28, 2016 8:24am Apr 28, 2016 8:24am
As an admin of Donna Forex, I have had extensive working knowledge of and cooperation with Myfxbook and signal providers.
To the best of my knowledge, there are older security holes with myfxbook that are all long patched that could have allowed manipulated statements to be uploaded. Nowadays, though, there are only 2 ways to "fake" myfxbook stats - 1 is just to offer photoshopped screen caps, which obviously doesnt hold up if people want to actually look at details or dig further. The other way is to be running a broker server that is in collusion with the scammer, as someone said this is often a real broker, just a shady/scammy one. The broker server CAN have its data extracted/manipulated/injected.

So this would leave an obvious solution for anyone who wants to trust myfxbook stats:

*** make sure the details are all OPEN/VISIBLE (not hidden) and the account is double verified ON A KNOWN AND TRUSTED (preferably regulated) BROKER ***. Not someone shady who offers bonuses and has a list of complaints a mile long based in a Caribbean country or Cyprus. Someone with a long and visible history, an Oanda, an FXCM, an Axi....these brokers arent perfect and still are off-exchange metatrader retail forex brokers, but at least they have too much established business to lose to be colluding with a scammer.

I am unaware of any software that can crack into MT4 on the client end and somehow recreate or generate then inject fake statements/data. Im not saying it isnt possible, Im saying I dont have any knowledge of it, and have never been told that exists. AFAIK the client side is secure from that.

So there are tons of scammers, yes, but avoiding scams isnt all that tough.
forexfusiondotcom
  • #23
  • Apr 28, 2016 9:00am Apr 28, 2016 9:00am
Quoting odysseus11
: *** make sure the details are all OPEN/VISIBLE (not hidden) and the account is double verified ON A KNOWN AND TRUSTED (preferably regulated) BROKER ***. Not someone shady who offers bonuses and has a list of complaints a mile long based in a Caribbean country or Cyprus. Someone with a long and visible history, an Oanda, an FXCM, an Axi....these brokers arent perfect and still are off-exchange metatrader retail forex brokers, but at least they have too much established business to lose to be colluding with a scammer.
This much I agree with!
Wealth comes from what you keep, not what you earn
  • #24
  • Apr 28, 2016 7:30pm Apr 28, 2016 7:30pm
The 2nd and 3rd paragraphs of this article support the previous statements in this thread, however, it is a very interesting article to read about "The best live trading, verified and long term MyFxBook trading account results": http://mechanicalforex.com/2014/08/l...t-results.html

The highlights in connection with this thread:

"First of all, we have to be clear in that myFXbook results can also be fake (despite verification). If a party is interested enough in cheating you – show you altered yet apparently audited long term results – they can buy metatrader server software to create a server that they can disguise as a recognized broker and then simply hide their account number and other information such that it appears that they are trading on a real account, while they fake their entire history by server side modifications. Such techniques are also used sometimes by shadowy unregulated brokers to show highly profitable fake accounts with extremely low slippage values that may encourage new traders to join.

A party can also hide equity loses – have huge floating loses that don’t show in the statistics – by making their trading history and open trades hidden and trade grid-like trading tactics. Because of all the above I have only considered accounts that have an open trading history, trade on recognized brokers (this means large brokers with significant market capitalization), are verified (access/trading privileges) and have the account number open, allowing me to verify the account’s existence with the broker they belong to. Moreover I only considered accounts with trading records of more than 3 years."
  • #25
  • Jun 12, 2016 11:48am Jun 12, 2016 11:48am
A manipulated link for example . Scam by profundtrading (Lion Fund)
(This link not available on direct search at myfxbook)
http://www.myfxbook.com/members/FF20...duCIN82KMR2LZY
  • #26
  • Oct 7, 2016 3:25pm Oct 7, 2016 3:25pm
Speaking about scams I have seen it all. One day I got sick of them and revealed their ugly truth here in my article about Forex scams.
"You are too special to go with the rest." - Rimantas Petrauskas
  • #27
  • Jan 24, 2017 5:43am Jan 24, 2017 5:43am
Hello everyone! I am new to the forum, and I apologize in advance for it. But this forum has valuable and important information.

And I quote MasterGuru

Quoting MasterGuru
{quote} I have seen such manipulations but those have turned out to be collusions between MyFxBook scammers and SCAM brokers (although probably they were the same entity). The brokers have simply handcrafted the excellent trade results on the scammer's MyFxBook account and verified them to get more and more clients. They even handcrafted virtual profits for their clients who poured more and more funds into the accounts; like in a typical Ponzi scheme as Bernie Madoff did. Of course, eventually both the scammer and the scam broker were gone for good...

The problem is not that commercial statistics can be manipulated from myfxbook, the problem is that myfxbook is not secure because in your system can be stolen statistical data, information and strategies that are later sold, the profit goes directly to brokers that support this platform . That's the real problem! And it's alarming ...
That is, it's not that brokers are scammers and then they leave myfxbook. Is that myfxbook consents to these brokers because they pay large sums of money to myfxbook for advertising, which is nothing more than a guise to operate their scams.

How can a new trader trust a platform like this? It's not safe at all, that's why years ago myfxbook had been blocked by brokers and metaquotes. Their IPs are not reliable.
  • #28
  • Feb 22, 2017 4:38am Feb 22, 2017 4:38am
Another thing users should be aware about at myfxbook...

A Myfxbook account can be set as "live" when it's really a demo. Look to see if the trader has made any withdraws on the account. This will for sure let you know if the account is real or not.

The withdraw info I just mentioned above is more reliable then myfxbook's "track Record Verified" and "trading Privileges Verified"

If an account has 0 withdraw history and you want to make sure it's real, ask that trader to make a small $20 withdraw. If he declines or is not able to, this will tell you.
  • #29
  • Last Post: May 22, 2018 10:28am May 22, 2018 10:28am
Quoting Cubbybgood
I wanted to start a thread to shine a light on manipulated Myfxbook stats. It can be done. I've already caught one member. Someone that calls himself "GoodBoy". He was haunting this forum with faulty stats to dupe traders into investing with him. It's just awful. I think it's important for this thread to be out there so traders are more protected from these manipulated stat predators. I know there's more of you out there! See how I caught Goodboy here...http://www.forexfactory.com/showthre...71#post8857671 Now, How are stats...
I said it before and I'll say it again...

First off, regardless of GoodBoy Myfxbook results, you really should only focus on asking for the investor password to his MT4 terminal. That pretty much eliminates the Myfxbook scam/manipulation. So long as he is the owner of the account in question seen in the "Navigator" menu, Myfxbook is just an overview of the trade performance..nothing more. So it's imperative that you ask for the investor password and use it for it's intended pupose. The PL can be seen under "Terminal" and then "account history".

Victims of scams are always caused by lack of information. They don't do their research.
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