Metatrader is a very popular trading platform. Easy to use, flexible as possible the custom indicators and custom scripts, can run the automatic trading (expert advisor / robots), and do not need large resources so it can run on any computer like.
But behind its simplicity, it turns out there is another side to harm the client but profitable brokers. This is actually done by the manufacturer Metatrader own in March 2006 announced the availability of an additional program (plugin) that can be purchased by the broker Metatrader platform users.
The program is intended to benefit the broker can be further increased by manipulating trading without being detected. Additional programs are called Virtual Dealer Plugin.
This plugin can do the following things:
- Delay execution, so that clients experience requotes
- Increase or decrease the spread
- Stop (freeze) terminal poada especially when news that the client can not perform any transactions
- Make the stop losses are not effective, so loss becomes larger
- And many other things that benefit the broker but is detrimental to the client
Remarkably, all this happens automatically, brokers do not bother doing it manually, the plugin will handle everything with an automatic. Clients are made to experience loss, so the money went into the hands of brokers. Clients are not made aware that the loss was due to a trick so difficult to prove and prosecution.
One example that often occurs is the spike in prices suddenly (spike) as shown in the figure below:
Spike is a natural thing happens in forex which is usually due to the fundamental news release.
But when the spike occurs in the absence of news, then it deserves to be suspected. An easy way to detect whether the spike is a natural thing, compare it with another broker. If another broker does not show the same spike, then immediately move a broker because the broker is obvious manipulation.
The other thing is sometimes done brokers make the price movement chart its own so different from other brokers as shown in the figure below:
Visible in the image above that there is a difference of price movement. Only use a broker that has the same price movement with other brokers. Brokers who do their own price movements are usually a scam brokers, as had previously been written on the article Forex broker .
Increase or decrease the spread is very easily done by the broker, as shown in the figure below:
From the figure above shows that the GBPUSD has spread 111.4 pip and USDCHF 101.3 pip, but usually spreads are both only about 3-4 pips. Note the bid and ask distance lines (red lines and gray) is so far proving that the value spread is very large, up-to pass a few candles.
The following figure shows such as what if the transaction has been done before spreads enlarge:
Surely, if entry made before spreads widened and given a value of stop losses, could have affected the value of stop losses are spread so that the enlargement of experience loss. But if the entry done at the time spread has enlarged, imagine how hard it is to obtain profit because they have to close the spread of such magnitude.
If you currently still have not been consistent profit and loss, the things above are not much to worry about. However, if it has managed to consistently profit for at least 2 consecutive months, then yours will live acccount automatically entered into the watch list broker.
Keep in mind, when used is Market Maker or Dealing Desk broker then your profit is actually earned the money belongs to the broker. So the broker will do everything possible to secure himself and make trading conditions in order conducted endeavored that loss. If you do not understand the kinds of brokers, please read it here: Market Maker & ECN Brokers
Therefore, as indicated capable of consistent profits for at least 2 months broker will automatically enter your account number into the watch list. The goal for accounts that are in the watch list is made to the possibility to get the profit will be lower.
Virtual Dealer Plugin program will run only for special accounts that are on watch lists. Requotes will often occur, sudden spike occurs, the spread is suddenly enlarged, stop losses are not functioning, and various other things that are experienced not profit, but loss continuously.
Below is the experience of an experienced trader who previously managed to profit after a few months:
Although the article mentioned above is clearly the name of a broker who commit fraud, but actually a trick like this is not limited only to the broker. The entire Market Maker broker who is or Dealing Desk brokers will tend to commit fraud to secure his own.
Um, not imagined how difficult forex. Can trade well and then be able to generate profits is difficult enough, especially after it was cheated by brokers.
In conclusion, the journey to get profit from forex to go through two stages. The first stage, beat the market so as to be consistent profits. The second phase, an adventure from one broker to another broker until finally finding the right broker and did not act fraudulently.
It is theoretically good broker is an ECN type, but choosing the right was somewhat difficult because currently many brokers who promote themselves as ECN but the fact remains as Market Maker or Dealing Desk broker. ECN is only used labels for marketing purposes only so many clients are interested in, but actually is not a pure ECN broker.
Hopefully this can help many people to be more alert to the broker. Brokers move immediately when experiencing things like the above if you do not want to be harmed.
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