Problem MetaQuotes (Meta Trader) Complacent in White Label Scams

[Scam Reporters]

I wonder if there is any MetaQuotes representative on FPA... would be great to see some comments from the company. And be able to ask questions...

 

[The Punisher]

I wonder if there is any MetaQuotes representative on FPA... would be great to see some comments from the company. And be able to ask questions...

They were invited to the thread, no one every showed up!

 

[exchangeviews]

My bet is they never will !!

 

[The Punisher]

There is a reason they are being banned. Look at the thousands upon thousands of victims cheated on MT and MQ has done absolutely nothing to help a single victim or give a means for scam brokers to be investigated.

MetaTrader Banned on Apple's App Store. What Does This Mean for Brokers?

At X Open Hub we’ve been closely following this week’s developments surrounding MetaTrader and Apple. . Without any prior notification or formal announcement, Apple removed the MetaTrader 4 and Met...

www.financemagnates.com

 

[4evermaat]

I still maintain that metaquotes (or any technology company for that matter) cannot be fully liable for how their tech is being used.
Apple has its own issues. Do you really want to own a device where the manufacturer has so much control over how the device can be used? Including what type of software to use?
Otherwise you will have centralized control over said tech, which would become a nightmare.

 

[exchangeviews]

I still maintain that metaquotes (or any technology company for that matter) cannot be fully liable for how their tech is being used.
Apple has its own issues. Do you really want to own a device where the manufacturer has so much control over how the device can be used? Including what type of software to use?
Otherwise you will have centralized control over said tech, which would become a nightmare.

Gee and I thought it was Samsung who were caught abusing user's privacy red handed. I believe the ship has sailed long ago in relation to tech user's privacy anyway.

As for those Russian oligarch's from MQ, I maintain they are at best a very bad actor in the scammer's web of deceit. Let's see how it pans out for them.

 

[Forexer4life]

I still maintain that metaquotes (or any technology company for that matter) cannot be fully liable for how their tech is being used.

I'm not suprised at all to read all the above. About a decade ago I've read about a broker that traded people on his platform against eachother.
When you place a trade you expect it to end up on the servers of those huge forex exchanges.
What happened is/was this: When a trader tried to sell, the platform tried to let that trader sell to a trader on the same platform that wanted to buy.
That way the broker could pocket the spread. So while you expected to trade on a market with an insane volume, you sometimes/often were trading in a low volume broker enviorment that passed on the trades to the 'real world' with a delay if it couldn't match the trades inside its own fenced area.

My point is this; if a broker can do such a thing, it's programmed into the platform.
If such a thing is fraudulent then the opportunity to do so was programmed by MQ. And for me personally that means they suddenly become a whole bit more liable for what others do with their software.

 

[The Punisher]

I still maintain that metaquotes (or any technology company for that matter) cannot be fully liable for how their tech is being used.
Apple has its own issues. Do you really want to own a device where the manufacturer has so much control over how the device can be used? Including what type of software to use?
Otherwise you will have centralized control over said tech, which would become a nightmare.

There is rarely 100% control but the difference is MQ/MT provide absolutely zero ability to report any type of fraud or scam to them and its clear they take no steps to shut down or stop fraud brokers. Microsoft, Apple, etc. all have this capability for users and there are many ways to report things to them. If MQ wasn't making money off these scams then they would likely provide assistance to victims and shut down fraud brokers. They got kicked off the Apple playstore for a reason!

 

[Scam Reporters]

I still maintain that metaquotes (or any technology company for that matter) cannot be fully liable for how their tech is being used.
Apple has its own issues. Do you really want to own a device where the manufacturer has so much control over how the device can be used? Including what type of software to use?
Otherwise you will have centralized control over said tech, which would become a nightmare.

I agree. This is also true, you cannot blame MQ for everything.
The issue is, though, that the company was surely aware of many problems in the past years. It would have been better for them to have at least addressed the issue somehow or tried to provide some assistance to people who complained. Instead they decided to remain silent. Now events unfold against the company.
Truth be told, I doubt it will go any further then iOS ban.

PS lucky break for Trading View, cTrader, NinjaTrader and others

 

[georgef99]

Hi guys
Anyone a copy of virtual dealer pdf from meta or Boston.
I scoured the Internet for hours and can't get it
I'm building a court case.
Thanks.