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Artificial Spike

Discussion in 'Scam Alerts' started by Germano Rossi, Sep 2, 2010.

  1. Germano Rossi

    Germano Rossi Recruit

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    I am trading with a Broker and last week the broker burnt me on GBP/USD on artificial spike.
    I am sure that it is a spike because I checked the other brokers trading platforms and I saw that the lowest price during those hours is 50 pips away

    I contacted them and they told me it is not a spike but the real market what can I do?
     
  2. Earl Hayek

    Earl Hayek Recruit

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    verry suspicious!

    50 pips is extremely irregular. If it was a true spike in the market you should’ve seen it everywhere.
    Did you check the calendar? Maybe something happened around those times to cause this spike.
    Who is this broker? Are they regulated?
     
  3. Germano Rossi

    Germano Rossi Recruit

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    e-global forex. no regulation, but i don't read bad things for them...
    i check calendar, i don't see something that could cause this when trade close... there was news 1 hour after close, do you think it matters?
     
  4. Pharaoh

    Pharaoh Colonel

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    If the nearest news event was an hour after the spike, then it is highly unlikely to have anything to do with the spike.

    Get screenshots of charts from 3 or 4 other brokers plus one of E-Global at the time of the spike. Send them all to E-Global and ask them to check again.
     

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