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How brokers can mess with your account and take your money

raj4x

Member
Hi all,

Does anyone have more info on the Virtual Dealer Plugin? This seems to be a nasty one. It allows the broker to totally customize and control all your trades: standard order delay, slippage, requotes, bad/no fills, stophunts, increase spreads, and yes....even temporarily change your margin so you could get margin called.

For example, do a google search for "NFA Virtual Dealer Plugin". You'll see that some brokers (GAIN etc) actually got caught by the NFA using such tools.

So beware of these games...and I hope this may help you pick a better broker.

Raj
 

peldoman

Member
Virtual Dealer Plugin

Virtual Dealer Plugin

You can use 4xSentinel , it detects Re-quotes,Margin changes,Execution delays,Spread spikes and Slippages.

It cost $59 for a single account.
You will be surprised if you going to used this tool, no matter what broker you use!!
 

stovedude

Active member
I would also like to know how exactly they can disable an EA from trading. I know you can usually get around it by copying trades or entering manually, but it would be nice to know anyway. Changing magic #s/comments and EA names/copyright info doesn't work. Perhaps they can see the file size or, more likely, I believe they can view the entire code, even though they say they can't on MT4.
 

maximo

Member
Oh they can mess with you alright...

You've got to be warey when a broker rings you for business lol. Called me asking to try their new MT4 trading platform. Even the demo spreads are 33% larger than an average broker, no thanks.

I kept on getting trade context error 146, so I added some nice code to fix that... guess what... still get them, not as frequent but still messing with orders. Should expect that from a market making broker... wont be opening an account with them.

SD, have you ever noticed a significant delay in ticks on the chart your EA is trading every time you recompile that EA to be a little better? somethin fishy like EA transmission to broker me thinks...
I get my EA's to place an arrow on the chart its trading to provide a visual means that the signal happened on that very bar & time. If the trade doesn't go through I know that its broker manipulation then.



// my context busy code just before orderclose & ordersend, shouldn't get error 146

for (double tb=0; IsTradeContextBusy() && tb < 30; tb++) Sleep(100); //Wait upto 3 seconds (ie 30 x 100milliseconds)
if (tb > 0) Print("Trade context was busy ", DoubleToStr(100 * tb / 1000, 2)," seconds");
if (!IsTradeAllowed()) return;


// my arrow codes to tell me that my EA had a signal but if No Trade was executed? That would more than make me suspicious, I'd have proof!

// Place code before or after ordersend BUY

ObjectCreate("X137_Buy_" + Time[0], OBJ_ARROW, 0, TimeCurrent(), Bid);
ObjectSet("X137_Buy_" + Time[0], OBJPROP_ARROWCODE, 228);
ObjectSet("X137_Buy_" + Time[0], OBJPROP_COLOR, ArrowUP);

// Place code before or after ordersend SELL

ObjectCreate("X137_Sell_" + Time[0], OBJ_ARROW, 0, TimeCurrent(), Bid);
ObjectSet("X137_Sell_" + Time[0], OBJPROP_ARROWCODE, 230);
ObjectSet("X137_Sell_" + Time[0], OBJPROP_COLOR, ArrowDOWN);
 

peldoman

Member
How brokers can mess with your account and take your money

( I would also like to know how exactly they can disable an EA from trading)

They can stovedude! for 7 weeks i had a talk with someone who works for an forex broker, i promised not to mention the name of this well know broker.
What he told me did shocked me, and that was my also one of the reason i stop trading forex for living what i did already for a few years.
Now i trade only with a small account, just for fun.

As far i could understand (English is not my native language) they can do more you ever will know, only they will deny it.
NFA is sometimes making investigation and giving penalty,s but it,s hard to prove for them that brokers do these things.

This guy told me if he wanted, he could do everything he wants with my MT4
and could control it complete.
He told me a lot more but i had to promise him not to tell this in public so i wont.

I,am realy very disappointed in these brokers, they make it (kaput) for the traders who risking their money and have an trust in them.

Be careful guys and a lott of pips for you all.
 

DiF0r

Member
I've thought that things are fishy but not that much:mad: Brokers already make millions and on top of that some of them even screw their clients..

So how are the things on STP/ECN brokers? I know that market makers can use the metaquotes virtual dealer plugin for spread, slippage manipulation but how is this with ECN/STP brokers?





______________________________________
 

tiapan99

Active member
You can use 4xSentinel , it detects Re-quotes,Margin changes,Execution delays,Spread spikes and Slippages.

It cost $59 for a single account.
You will be surprised if you going to used this tool, no matter what broker you use!!

4xSentinel did not work on all brokers. I think some of the brokers have counter measure to disable it. At least, it did not work out on InstaForex.
 

grood

Member
Well on Alpari UK Classic I get more or less ok fills with EA (some slippage/requotes), with manual trading they requote me up to 10 times in a row. Always. And they introduce a delay of up to 5 seconds that leads to worse execution. Probably this was switched on because my manual trading went quote profitable, and the EAs sucked lately.

By the way, this was not the case some weeks ago, also it does not happen on my Micro Account.

On FXCM I usually also got big execution delays (EA+manual trades, even on their own platform) and slippage in their favour, even on limit orders up to 5 pips (plus ridiculous spread on EU of 2.8 pips).

Suckerage, not brokerage.
 

uvaisf

Member
Well on Alpari UK Classic I get more or less ok fills with EA (some slippage/requotes), with manual trading they requote me up to 10 times in a row. Always. And they introduce a delay of up to 5 seconds that leads to worse execution. Probably this was switched on because my manual trading went quote profitable, and the EAs sucked lately.

By the way, this was not the case some weeks ago, also it does not happen on my Micro Account.

On FXCM I usually also got big execution delays (EA+manual trades, even on their own platform) and slippage in their favour, even on limit orders up to 5 pips (plus ridiculous spread on EU of 2.8 pips).

Suckerage, not brokerage.

Alpari UK is FSA regulated, so if you suspect they are doing anything funny, send the FSA an email with all your proof, I am sure they will investigate it. Check out the FSA website for more info.
 

uvaisf

Member
Oh they can mess with you alright...

You've got to be warey when a broker rings you for business lol. Called me asking to try their new MT4 trading platform. Even the demo spreads are 33% larger than an average broker, no thanks.

I kept on getting trade context error 146, so I added some nice code to fix that... guess what... still get them, not as frequent but still messing with orders. Should expect that from a market making broker... wont be opening an account with them.

SD, have you ever noticed a significant delay in ticks on the chart your EA is trading every time you recompile that EA to be a little better? somethin fishy like EA transmission to broker me thinks...
I get my EA's to place an arrow on the chart its trading to provide a visual means that the signal happened on that very bar & time. If the trade doesn't go through I know that its broker manipulation then.



// my context busy code just before orderclose & ordersend, shouldn't get error 146

for (double tb=0; IsTradeContextBusy() && tb < 30; tb++) Sleep(100); //Wait upto 3 seconds (ie 30 x 100milliseconds)
if (tb > 0) Print("Trade context was busy ", DoubleToStr(100 * tb / 1000, 2)," seconds");
if (!IsTradeAllowed()) return;


// my arrow codes to tell me that my EA had a signal but if No Trade was executed? That would more than make me suspicious, I'd have proof!

// Place code before or after ordersend BUY

ObjectCreate("X137_Buy_" + Time[0], OBJ_ARROW, 0, TimeCurrent(), Bid);
ObjectSet("X137_Buy_" + Time[0], OBJPROP_ARROWCODE, 228);
ObjectSet("X137_Buy_" + Time[0], OBJPROP_COLOR, ArrowUP);

// Place code before or after ordersend SELL

ObjectCreate("X137_Sell_" + Time[0], OBJ_ARROW, 0, TimeCurrent(), Bid);
ObjectSet("X137_Sell_" + Time[0], OBJPROP_ARROWCODE, 230);
ObjectSet("X137_Sell_" + Time[0], OBJPROP_COLOR, ArrowDOWN);


Hey Maximo, do you have any coding tricks to overcome requotes?
 

maximo

Member
Hi uvaisf,

I have only ever suffered requotes from Market Makers such as CMC, IG Markets and GFT.

Years after saying goodbye to them I've been free of requotes, go figure.

Sorry no coding tricks, just a change broker attitude for that one.
 

wah_castle

New member
Hi uvaisf,

I have only ever suffered requotes from Market Makers such as CMC, IG Markets and GFT.

Years after saying goodbye to them I've been free of requotes, go figure.

Sorry no coding tricks, just a change broker attitude for that one.

Can you please PM me which brokers you are using now? Thanks.
 

Murphy12

Member
Thank you for this thread i find this information very informative and insetting.

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fxdon88

New member
Thank you for this thread i find this information very informative and insetting.

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Yes I agree, this thread is very informative for me as well. thank you. :)
 

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