MT4 Brokers - Warning

[pboyles]

The problem with such studies it lacks evidence , so basically we're taking your word for it .Until now the issue isn't clear to me , so if it goes against you your trade is accepted and if it goes your way it's rejected ? i don't see how , many MT4 platforms accept trades when it goes your way but will give you slippage with it . Can you clarify more and maybe post your EA here .

Google FXCM fined or Gain Capital fined. You will see exactly how they do it and why.

 

[tar]

Just close the thread. I don't want to stop trade2wins funding. 120 rejections in one day. Is that enough information? I don't want to disclose the EA. If anyone wants to test it out themselves go for it. I was just trying to help. Why would i flame these brokers for no reason?

This thread is pointless anyway. I'm just showing what everyone knows already.

I am surprised why you're getting rejections they would love to fill you with extra slippage , maybe you should change the settings of your EA to accept deviation from your requested price . That being said i wouldn't be surprised if these so called brokers are playing games , IMHO these are not brokers nor you are really trading when dealing with them , you are just taking a punt on numbers .

 

[tar]

Whilst Brettus has not provided proof we know for certain that MT4 brokers do use asymmetrical slippage practices to defraud clients. These are not my words, this is what regulators have said when levying huge fines against brokers for doing exactly what Brettus alleges.

Now I know we should all give them a chance, innocent until prove guilty blah, blah, blah but given the number of companies fined for doing this its not unreasonable for him to draw these conclusions.

He's talking about rejections not "asymmetrical slippage" .

 

[brettus]

I am surprised why you're getting rejections they would love to fill you with extra slippage , maybe you should change the settings of your EA to accept deviation from your requested price . That being said i wouldn't be surprised if these so called brokers are playing games , IMHO these are not brokers nor you are really trading when dealing with them , you are just taking a punt on numbers .

Did that too. Next...

 

[x4x]

Doesn't make any sense to me either - I've never traded with any MT4 broker, but to say they only accept losing trades doesn't add up.

 

[tar]

Did that too. Next...

Well in that case we cant make any judgement here without taking a look at your EA .

 

[counter_violent]

Well in that case we cant make any judgement here without taking a look at your EA .

Not only that.

Why is it that punters never test for ++++slippage on limit order closes.
Does my head in when all that's talked about is downside never upside.
Clearly, it doesn't suit some peoples agenda!

 

[pboyles]

Not only that.

Why is it that punters never test for ++++slippage on limit order closes.
Does my head in when all that's talked about is downside never upside.
Clearly, it doesn't suit some peoples agenda!

Maybe you should read the FXCM judgment and fine. Slippage is controlled and set to favour the broker.

 

[counter_violent]

Maybe you should read the FXCM judgment and fine. Slippage is controlled and set to favour the broker.

Yes i've read all that, but your starting point is, that all brokers are crooks and are using the virtual dealer plug in.
That would clearly be nonsense wouldn't it ?

 

[pboyles]

Yes i've read all that, but your starting point is, that all brokers are crooks and are using the virtual dealer plug in.
That would clearly be nonsense wouldn't it ?

I'm not saying they all use virtual dealer plugin, there may be other such tools out there. As for all being crooks, well I'm not so sure that would be nonsense, it depends on your definition of crook. Enough of them have been caught to give rise to reasonable suspicion that such practices are endemic in the industry. I mean does anybody still believe they just make money from the spread? Given what we have seen in the past couple of years that would appear a bit naive.

 

[counter_violent]

Brettus seriously, post up the EA and let others do some tests on the brokers. They might also be able to look over the EA, in case there are issues with that.

I don't see the downside in doing this !

 

[tar]

I'm not saying they all use virtual dealer plugin, there may be other such tools out there. As for all being crooks, well I'm not so sure that would be nonsense, it depends on your definition of crook. Enough of them have been caught to give rise to reasonable suspicion that such practices are endemic in the industry. I mean does anybody still believe they just make money from the spread? Given what we have seen in the past couple of years that would appear a bit naive.

IMO they make money from the spread and clients losses , but that's irrelevant here .

 

[pboyles]

IMO they make money from the spread and clients losses , but that's irrelevant here .

So you'd reject any of the proven cases where they have made money from slippage and fraudulent margin practices?

 

[Pat494]

My AAAFX demo account is still working. Not sure if they will get hit by the Cyprus situation.

 

[tar]

So you'd reject any of the proven cases where they have made money from slippage and fraudulent margin practices?

Didn't i just say that they make money from clients losses ?!

 

[pboyles]

Didn't i just say that they make money from clients losses ?!

I'm not talking about trading losses I'm talking about clients being defrauded.

 

[tar]

I'm not talking about trading losses I'm talking about clients being defrauded.

Slippage is a loss , so it is included ! but if you meant fake built-in slippage then i cant accuse all "brokers" of that .

 

[brettus]

IMO they make money from the spread and clients losses , but that's irrelevant here .

Agreed. I didn't see the point in rejecting bets, as a punter is most likely to lose their shirt anyway.

It's not as simple as that Counter Violent.

This thread is just getting frustrating. I'm sorry but I've worked for a broker offering spreadbetting and MT4. Anything that's off market goes to the dealer. It doesn't take a genius to work out what happens from there. If this thread isnt proof then just close it. It doesn't bother me in the slightest.

 

[tar]

This thread is just getting frustrating.

Ditto

 

[brettus]

Slippage is a loss , so it is included ! but if you meant fake built-in slippage then i cant accuse all "brokers" of that .

Has anyone been filled on a better price on a limit trade from the most reputable spread betting company out there IG Index? And have you ever been slipped? This is exactly why FXCM got fined. Because they didn't pass on positive slippage. Yet they hedge all their business with bnp paribas, who I have dealt with and their prices were ridiculous especially around big volatile moves. I'm talking 100 point slippages lower/higher than any other bank quoting a price.