How forex brokers cheat you!

safvan said:
Below is the link with pictures of the software that many brokers use to cheat their profitable customers under forex. Personally I would avoid trading anything that is not traded on a regulated exchange.

http://alansforexblog.com/2008/04/20/proof-that-forex-brokers-cheat-you/

Read the comments below the main post for more insight on their dirty tricks.
Click to expand...

I think they have deleted it now but Boston Technologies used to have a very detailed guide on how to implement various tricks to deprive people of their money using their bridging software. It more or less came down to introducing various amounts of slippage as determined by the 'broker'. MT4s VT plugin is just another example that has surfaced because Gain Capital were caught using it, no doubt there are other programs out there doing exactly the same thing.

Stay away from forex, the industry exists to take your money off you, by fair means or foul.
 
I just switched broker and will be trading through Currenex. Even though I'm too small for my for former MT4 broker to worry about I still feel better now the conflict of interest is no more.
 
Anything that is not traded on an exchange is trouble some. One simply cannot prove anything and its considered legal.
 
If you can't prove anything then it is not illegal. Legality requires evidence in court.
 
BeginnerJoe said:
If you can't prove anything then it is not illegal. Legality requires evidence in court.
Click to expand...

So if I were to shoot you but there wasn't enough evidence to prove it was me that would mean it wasn't illegal. Think again Joe.
 
pboyles said:
I think they have deleted it now but Boston Technologies used to have a very detailed guide on how to implement various tricks to deprive people of their money using their bridging software. It more or less came down to introducing various amounts of slippage as determined by the 'broker'. MT4s VT plugin is just another example that has surfaced because Gain Capital were caught using it, no doubt there are other programs out there doing exactly the same thing.

Stay away from forex, the industry exists to take your money off you, by fair means or foul.
Click to expand...

is it really that forex broker cheat because i loose almost $200000 in forex
 
Hi
I am not a professional trader in the forex business. As a newbie one thing that I notice that is some broker cutting the commission per lot something more then my expectation. And I have this only reason that seems they are cheating with us.


:confused::confused::confused:
 
I use three Forex brokers, all of them shows different candlestick peak/spike price. So the "only problem" is your stop loss in crazy market.
 
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