I am invested in a scheme whereby a company offers algo trading and any profits are shared between myself and the company. From Jan 2021 to now they have never made a loss. I am half convinced this is a ponzi scheme. In addition I noticed that their broker is in a country where financial oversight is slight.
Once I put some money in, I was given an MT4 login.
I decided to crosscheck their trades. On 9/9/21 11:15 (GMT0) they bought XAUUSD at 1793.7400. I crosschecked this with Oanda, same date, time, and tz the ask price for XAUUSD in oanda is 1796.9986. That’s a 325 pip difference.
I did the same for other trades and for almost every single XAUUSD trade the price difference between this broker and oanda is 300-500 pips.
This doesn’t make sense, thus my question. Can an entity provide a fake price quote on the MT4 platform?
Looks like you had a good deal, if unrealistic. Gold is very volatile and can move very quickly within a 1M chart. The price range on this day was between 1800 -1784. Whether it’s a genuine set up or not, only way to check it out is to request a 10% withdrawal and see what happens.
If you could post a screen shot of the MT4 chart that would be useful. The important detail is at the top of the screen, above the chart and the file zone. It should show your account number and MT4 live, not MT4 demo…
I haven’t yet downloaded MT4 for the PC, but this is the screen on my phone.
Ok, this is my bad. I was told the broker’s server is GMT. They are apparently GMT +3. It’s no wonder my investigation yielded wildly different prices. All good so far.
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Excellent thread - on the subject of timezones. That one can get you more than once 
Yes, I know some brokers who fake trading histories. There’s one that operates in this manner in Indonesia to scam people. Be wary.
