Does anyone see their broker on the pdf? #dealerplugins | Forex Factory

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Does anyone see their broker on the pdf? #dealerplugins

  • #1
  • First Post: Jan 20, 2017 10:08am Jan 20, 2017 10:08am
Yes, it is well known that brokers in general are quite dishonest and really cannot be trusted. Also, it is generally a well known fact that brokers use plugins.

That being said, the purpose of posting this was simply to emphasize this point and hope that anyone who "did not know", now knows! Take a look at the pdf and see if your broker is listed!

STP, ECN, DMA, are all words thrown around by brokers which really have no meaning whatsoever as they completely open to interpretation by the broker. There really is no legal definitive meaning for these words that brokers have to legally follow (in most countries), which is also why even regulated brokers claiming that they are STP, ECN, or DMA, really are not.

From personal experience, I would go as far to say that 95% of brokers are bucket shops claiming to be STP. With brokers being so dishonest, it should then be up to the broker to prove to you they are not. Instead like sheep we believe that because our broker says he is STP to liquidity providers, that they must be telling the truth! Wrong!

I suggest you ask your broker to prove this. How? Simple!

Email your broker and ask them for a receipt as to which bank/lp filled your order. They will most likely email back with some excuse like "sorry we are not set up this way" or "sorry we use dark pool liquidity". All BS.

Every broker uses a routing provider such as gold-i or onezero (many more) which all keep accurate records of exactly what happened to the clients trade. Whether it was warehoused (held within the broker/market maker) or partially warehoused or sent directly off to the lp.
Attached File(s)
File Type: pdf Ashira [Takeprofit Technology].pdf   577 KB | 2,724 downloads
  • #2
  • Jan 20, 2017 10:54am Jan 20, 2017 10:54am
We are listed...

But we did not purchase this particular product. We did, however, purchase the source code of their klondike bridge and use it with some of our custom pricing feeds.

I know that generally uninformed retail clients like to demonize market makers, but without them, there is no market. All the leading banks in FX are market makers, dealers, and they all use algos to combat and alert them to 'sharp' or otherwise toxic flow with high decay levels. Like or not these market players are needed, period.

What this industry really NEEDS is REAL education. As the retail sector becomes more aware of the market they are trading in we now have a sector of the industry I would refer to as 'professional retail,' BUT even this sector is in the dark on the true nature of what happens when they click to buy or sell on their broker's platforms.
Kevin Murcko | CEO at FXPIG
  • #3
  • Jan 21, 2017 5:15am Jan 21, 2017 5:15am
Quoting davidforex20
Yes, it is well known that brokers in general are quite dishonest and really cannot be trusted. Also, it is generally a well known fact that brokers use plugins. That being said, the purpose of posting this was simply to emphasize this point and hope that anyone who "did not know", now knows! Take a look at the pdf and see if your broker is listed! STP, ECN, DMA, are all words thrown around by brokers which really have no meaning whatsoever as they completely open to interpretation by the broker. There really is no legal definitive meaning for these...


I think that some kind of this stuff is used by most brokers. Especially if you have a small account.
I can tell you that on my account when I have became more profitable I have noticed an improvement on execution, when my account was loosing It looked like the order were slower.

Some kind of profiling is used to understand if the user is making money and send the order to the market with the good execution.

With other brokers I did notice something similar.

Very likely they use some scoring for the user. If you are good they send you to the market, otherwise they don't.

But let's tell the truth this is only an issue if you are profitable and only if you have issues withdrawing money.

Otherwise it doesn't matter.
Buy at the Low, Sell at the High You make money by waiting not by trading.
  • #4
  • Jan 21, 2017 9:07am Jan 21, 2017 9:07am
Quoting davidforex20
Yes, it is well known that brokers in general are quite dishonest and really cannot be trusted. Also, it is generally a well known fact that brokers use plugins. That being said, the purpose of posting this was simply to emphasize this point and hope that anyone who "did not know", now knows! Take a look at the pdf and see if your broker is listed! STP, ECN, DMA, are all words thrown around by brokers which really have no meaning whatsoever as they completely open to interpretation by the broker. There really is no legal definitive meaning for these...

Thanks for the note, also I find much more useful to check their ToS (execution provisions). If they are MM they are obliged to state that in the legal document.
Its for those you couldn't find in the list.
  • #5
  • Edited 2:13pm Jan 21, 2017 1:30pm | Edited 2:13pm
Reprehensible and shameful. This is down right devious, conniving and dirty handed.
What despicable little muppets.
  • #6
  • Last Post: Jan 21, 2017 2:25pm Jan 21, 2017 2:25pm
Quoting FXPIG.Kevin
We are listed... But we did not purchase this particular product. We did, however, purchase the source code of their klondike bridge and use it with some of our custom pricing feeds. I know that generally uninformed retail clients like to demonize market makers, but without them, there is no market. All the leading banks in FX are market makers, dealers, and they all use algos to combat and alert them to 'sharp' or otherwise toxic flow with high decay levels. Like or not these market players are needed, period. What this industry really NEEDS is...

That MMs are neccessary is beside the point. Its implossible to slice this any other way, using such a plugin is nothing less than fraudulent and plainly contradicts every best execution disclosure. The correct way to deal with toxic clients is to stop doing business with them, plain and simple. Your comment speaks volumes about how your firms handles them. You can probably get away with it with a Vanuatu domicile, lol.
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