Can a broker manipulate mt4 so it looks good ?
Basically can a unregulated broker plug in to manipulate mt4 so it looks like you are doing good
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Possible. Unfortunately there are some really bad people in this world and if there is a way for them to scam they will. Always best to use a safe broker.
@sophie181068, They don’t just trade against you… they trade against their clientele as a whole.
I’m sure this type “Broker Alchemy” has been improved since this old tutorial video was produced…
~USD$12,000 for the Broker to purchase and just… Plug in…
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I’m not sure but I did use MT4 for a while but I found the platform cumbersome and I never trusted the site.
Cheers
Blackduck
Mt4 is an open system. If there is any manipulation, you can easily spot it. Just like other platforms, mt4 gives real times price and data. If it does not correlate with other platforms or price feeds, you can use that to determine what went wrong. If the broker manipulated the price to hurt you or trick you, you can always know.
Note: Only Price feeds and execution time can be manipulated. They cannot touch the core system. If a broker wants you do be successful, they’ll just leave the price feed and execution in perfect condition. If they want to hurt you, they’ll start by freezing the server to cause delay in stop loss or take profit execution, this would lead to high slippage and huge loss for you. If you notice it, stay away from such brokers.
So if I go into my MT4 account and see a statement it shows what I have which after 4 weeks is some growth. I have watched the charts when they buy and it shows it going in the right direction. At the end of the trade it shows in my account with me and also with A few other friends I have. I will watch like you said in another platform. I can see the start price also so can I look for historical prices to check ?
Thanks again
The unregulated broker can manipulate the trades by providing poor execution speed or by widening the spreads at the time of trade execution. It completely depends on broker to broker. All the brokers do not manipulate the trades so one must choice the broker wisely
Thanks for that, if I go in to my MT4 I can see what the balance is profit etc etc so can they manipulate this to show I have a certain amount in there. ?
I don’t know but I imagine that would be difficult for them to do.
Hello, they cannot alter the figures of your profit on the mt4. They can cancel some of your profit to affect your balance. In that case, you will ask them why? If you are not satisfied with the answer, you can take them to FPA court first, before reporting them to regulatory bodies. SO make sure you check FPA for a broker with many such cases and avoid them.
They can manipulate price bars etc. in which case you can take screenshot or make video of it and ask them to explain it to you.
The candles were moving up on mt4 while I was watching and the end result was a profit showing in my account which someone said they can’t alter. That’s great but looking on another platform it did move that much at the same time which makes me think they are making it look better so I and others I know invest more money. Very confusing as they are not regulated also. So don’t know if it’s a scam or if it’s genuine. I took screen shots so if I put these up could someone look at them ant tell me ??
Really appreciate any help as don’t want to get scammed or others also if it’s a con
It looks like they have don’t this but my profit is in there and someone said in here they can’t alter this ?
The regulated brokers do not more than the unregulated brokers. Go and see their reviews on FPA for yourself. A bad broker is a bad broker whether regulated or not.
@sophie181068. Unfortunately there is a lot of misinformation being feed from many of the respondents on this thread. Much like the forex education market in general. And just like the education market it will be up to you to filter through the crap.
But lets get some facts out there. Your broker can’t manipulate MT4 in as much as they and they alone set the price. The fact that you are here at BP’s strongly suggest that like the rest of us, you simple do not have funds sufficient to trade with a prime broker. A prime broker will not offer MT4 as a trading platform.
So like the rest of us you must use a retail broker. Any trade you enter into, your broker and your broker alone sits on the other side of the trade. Your risk solely lies with them. They and they alone will set the price loosely based on the underpinning market price they received from their liquidity provider. That price is subject to market volatility and liquidity and as such can see enormous swings in bid ask and therefor spread.
All part of the beast you will have to master if you wish to play this game. But with that said, all you have to remember is that price can only do 0ne of two things. Price will go up or price will go down. Trends, patterns ,structure, supply/demand, harmonics, support/ resistant, all preached and all crap.
I’m a beginner in search of a new broker, but before choosing a broker, I would like to know if it is possible for a broker to manipulate the MT4 platform to make certain trades look good and later scam me?
So can the broker trade against you, if not the trading platform?
Not if you go for an ECN broker. Dealing desk brokers will always profit in your loss but that’s not the case with pure ECN ones.
Your broker has no interest in trading against you. Just to provide a platform for you to trade on. They know your more than capable of losing all your funds all by yourself
Wrong. If your broker issues the contract he and he alone sits on the other side. Pure, hybrid or what ever the term they use.
Any suggestions?