MT4 Broker plugin Platform scam?

This is well known and not a surprise as MT4 is mostly used by bucketshops.


Paul
 
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 .

O D T
 
the real website where you can get all the juicy details of how many retail FX brokers are in the same bed is bostontechnologies.com
 
err.. not necessary complete scam.

i do know there are companies able to provide mt4-plug in for traders and the feed was definitely Tier 1 level, direct connect with bank. but most of the people wont get such mt4 connectivity as its for institutional/fund manager only

if youre not for scalping, bucketshop broker still can make money except higher spread & little disadvantage pricing.
 
err.. not necessary complete scam.

If it aint a scam, perhaps you could try requesting some information about this plug-in from Metaquotes staff over on Metaquotes forum. I suspect they wont wish to discuss it, and all traces of your enquiry will soon disapear.

Approach them as a potential new bucketshop and their sales staff may be more accommodating :LOL:
 
don't trust any broker offering mt4,
it's a scam platform, and all the brokers offering it
are nothing but scammers! and thieves!
beware!
 
Last edited:
don't trust any broker offering mt4,
it's a scam platform, and all the brokers offering it
are nothing but scammers! and thieves!
beware!

:clap:

Not all and I don't agree with you. Yes, there are hundreds of scam brokers on the Forex market and they do offer MT4 platform.

MT4 platform is the most popular platform for trading all over the world so if you don't want to trade with MT4 you better stay away from Forex at all.
 
:clap:

Not all and I don't agree with you. Yes, there are hundreds of scam brokers on the Forex market and they do offer MT4 platform.

MT4 platform is the most popular platform for trading all over the world so if you don't want to trade with MT4 you better stay away from Forex at all.

it's NOT the most popular trading platform in the world,
that is just what they want you to believe so you would be using it,
but it sure is the most popular one for them, because it is so easy to rip you off.
take a look at the attachment, I certanly don't trust ANY broker using softwares
that makes it possible to steal my money, and that is exactly what it's for,
originally developed for market makers just for that purpose
 

Attachments

  • metatrader virtual dealer plugin guide.pdf
    208.4 KB · Views: 3,872
Thanks for sharing the PDF file. it's scarey what can be done with this plug in. this is why I feel we need better regulation in the forex industry.
 
yes Im not saying that all brokers offering MT4 is scammers,
it's the software I don't trust,
the fact that you CAN be cheated when using MT4 makes it a little scary.
but I also think there is honest mt4 brokers out there,
but it's hard to know who is honest and who isn't.
 
I use MT4 for charting only - I use oanda and have found their proprietary ordering system is much more reliable (and faster) at executing my trades.

But in reality, every broker is essentially the casino and all they want you to do is come inside and spend money. You have to understand the deck is going to be stacked against you and figure out ways to deal with this.

Just my 2¢
 
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