This is well known and not a surprise as MT4 is mostly used by bucketshops.
Paul
Many brokers are using this to steal from your real accounts .They will not allow traders to place limit orders and freeze limit orders ,and they will set slippage loss on trader.They got new slippage software called slippage infliction plug in.It is aimed at hitting clients with slippage on stop and market orders by as much as 3 pips.
They are serving you a redirected price capable of being manipulated by the brokers.Broker clearly states market orders, Buy Stop, Sell Stop or Stop Loss is executed at the level less profitable for the Customer; Buy Limit, Sell Limit or Take Profit is executed at the level more profitable for the Customer.
The broker uses automated software to steal my cash with slippages,stop hunting,pending order squeeze,front running etc.He does not need a dealing desk to do it.
Forex Systems and Forex Signals Reviews | broker reviews
At the begining of this year I did open a demo with a metatrader broker and I was very happy. I start trading live with 1 minilots per trade.
On live accounts Broker was disabling pending limit orders regularly.Many orders did not get filled.I use pending limit Entry Orders usually 10 or more pips away from market price and an average of 60 pips stop loss.
I was surprised that most of the time my orders where taken with 1/2 or 3/4 pips diference from my entry order price (not in my favor of course),, they did close most of the time my trade up to 3 pips diference (again, not in my favour).The same happened with the stop loss, up to 3 pips diference (one more time not in my favour).This happens 80% to 85% of the times.NOTE: I was tardeding only with 1 mini lots!.
During this time I was trading and had an open position with stop loss set at 50 pips, Broker liquidated stop loss at 83 pips .
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