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Problem MetaQuotes
- Thread starter EcnJesus
- Start date
-
- Tags
- metatrader
I am having an issue with a company
They would probably argue, that you are copying the design of the MetaQuotes page layout!
There is an easy way around this but it would require a bit of work on your part!
For each underhand method used, just inform us all in your own words, what backend MT4 actions a broker instigates to tilt the trades against their clients.
You could then post them on YouTube and Forex forums and maybe send them to all the financial regulators!
PS. Obviously any statements you make must be 100% accurate with you retaining any screenshots as undeniable proof!
There is an easy way around this but it would require a bit of work on your part!
For each underhand method used, just inform us all in your own words, what backend MT4 actions a broker instigates to tilt the trades against their clients.
You could then post them on YouTube and Forex forums and maybe send them to all the financial regulators!
PS. Obviously any statements you make must be 100% accurate with you retaining any screenshots as undeniable proof!
Last edited:
EcnJesus
Private
- Messages
- 10
New video - how to change trading history.
[video=vimeo;34026798]http://vimeo.com/34026798[/video]
You can find it duplicated:
Dailymotion
Facebook
Veoh
You can place requests on what you would like to be shown. Don't forget to share this video, in the forums i have been banned at - Forex Factory, Forex-Tsd.
Thank you for your support
[video=vimeo;34026798]http://vimeo.com/34026798[/video]
You can find it duplicated:
Dailymotion
Veoh
You can place requests on what you would like to be shown. Don't forget to share this video, in the forums i have been banned at - Forex Factory, Forex-Tsd.
Thank you for your support
Last edited:
EcnJesus
Private
- Messages
- 10
What i find worrying is that in the time-frame while the MetaTrader exists no-one has ever stood up for traders. Sure, some stuff was leaked before, like the VD pdf. But as I'm assuming, people don't take this kind of stuff seriously. They are, for some reason, always hoping that this stuff might be fabricated.
So what's actually happening on both sides?
Broker
It's quite easy to setup a brokerage company. First thing you need to decide is what kind of broker you want to be - regulated, unregulated, mm or ecn. The amount of investments you will need depends on your decision. The most cost effective is regulated/unregulated Market Maker. Since the unregulated brokers always seem more SCARY and unreliable then the regulated ones, not much difference separates them. The regulators are more or less a badge they hang to attract you. So the basic steps of getting on your feet as a broker - buy yourself a cool domain name with letters FX in it, get yourself a black box - your market quotes which are stolen from some bank and finally get yourself a team of soulless fu**s who will gladly take the last 25 dollars from a Nigerian widow - and I'm not exaggerating here. So since you are a market maker, you don't need real liquidity, only thing you need is for people to think that this is real liquidity. Even if you had the balls to make a 100 k investment to get your self some real liquidity provider, you ain't gonna use him much, since 95% of all trading will never go outside your company. The fact is that the 95% of people will loose with some or a lot of help of the broker. The other 5% thou, might damage you a lot. Either he sends your orders to the liquidity providers, or he makes you loose.
Trader
You poor bastard. If you had the privilege of being born with enough brain to get yourself well educated enough, to never trade - you are lucky. You are very lucky, if you have found a way to cheat when trading (cheating - a low risk, guaranteed income). You are even more lucky if you have made up a great strategy, which allows you to be profitable at all times. And you are the luckiest person in the world if you are THE Trading Guru. But if you are reading this, most probably you are not lucky. You have been cheated and scammed. And your fight against the wrong broker for the money is like a bunny vs napalm bomb. You blame yourself for the loses, you read the ****ty material - books, forum posts, articles which the brokers themselves post, for you to find a way to blame yourself. The forums are full of insiders, pretending to be your friends, to be one of your kind. Writing good reviews for themselves and throwing poo at each other. So if you are still persistent enough to trade with the classic setup mm+mt4, or any mt4 broker in that case - i wish you best luck. You deserve to loose.
So what's actually happening on both sides?
Broker
It's quite easy to setup a brokerage company. First thing you need to decide is what kind of broker you want to be - regulated, unregulated, mm or ecn. The amount of investments you will need depends on your decision. The most cost effective is regulated/unregulated Market Maker. Since the unregulated brokers always seem more SCARY and unreliable then the regulated ones, not much difference separates them. The regulators are more or less a badge they hang to attract you. So the basic steps of getting on your feet as a broker - buy yourself a cool domain name with letters FX in it, get yourself a black box - your market quotes which are stolen from some bank and finally get yourself a team of soulless fu**s who will gladly take the last 25 dollars from a Nigerian widow - and I'm not exaggerating here. So since you are a market maker, you don't need real liquidity, only thing you need is for people to think that this is real liquidity. Even if you had the balls to make a 100 k investment to get your self some real liquidity provider, you ain't gonna use him much, since 95% of all trading will never go outside your company. The fact is that the 95% of people will loose with some or a lot of help of the broker. The other 5% thou, might damage you a lot. Either he sends your orders to the liquidity providers, or he makes you loose.
Trader
You poor bastard. If you had the privilege of being born with enough brain to get yourself well educated enough, to never trade - you are lucky. You are very lucky, if you have found a way to cheat when trading (cheating - a low risk, guaranteed income). You are even more lucky if you have made up a great strategy, which allows you to be profitable at all times. And you are the luckiest person in the world if you are THE Trading Guru. But if you are reading this, most probably you are not lucky. You have been cheated and scammed. And your fight against the wrong broker for the money is like a bunny vs napalm bomb. You blame yourself for the loses, you read the ****ty material - books, forum posts, articles which the brokers themselves post, for you to find a way to blame yourself. The forums are full of insiders, pretending to be your friends, to be one of your kind. Writing good reviews for themselves and throwing poo at each other. So if you are still persistent enough to trade with the classic setup mm+mt4, or any mt4 broker in that case - i wish you best luck. You deserve to loose.
Javier Keeth
FigFx Representative
- Messages
- 160
Hello Readers,
I was asked to comment on this thread, which -to be honest- is sort-of interesting.
Let's talk more about the videos.
Video #1
--------
The Virtual dealer plugin exists, and nobody can hide that fact.
Still, it is not a plugin that gets installed/bundled with Metatrader platform when brokers buy the system to start a business. It comes at an additional cost of $5,000 I believe and can be installed as a stand-alone plugin to help dealers complete certain tasks.
Please notice that I am not here to defend Metaquotes as I have no interest in doing so. For me Metaquotes is simply a software company that I use.. But as far as being involved in the "kitchen" as the thread author calls it, I really believe that the virtual dealer plugin was not made with the captured usage in mind.
Here is an article by Yevgeny Bardebanov explaining in details what, how and weather this plugin is needed or not at all.
https://support.metaquotes.net/en/articles/142
Yes, it can be used to delay orders execution, that's a fact. But if metaquotes will ask for a professional developer's review about it, I bet the developer will say that the plugin has much more to offer than simply delaying executions. At the end, when a broker wants to hold an order from being executed, they can simply stare a few seconds before clicking the "OK" button in their dealing platform/manager. Why pay the $5,000
Here is a snapshot of how MQ introduces the plugin to its audience:
Video #2
--------
Well said, this is a rarely used technique to hunt people down. And yes, this is a built-in feature of the MT4 platform.
Again, i do not believe the intention was to give brokers a way to cheat on thier clients. Specially that in today's world, when a trader sees such a spike, they can simply open the client of another broker and check the prices there.. Any difference in 1-2 pips is normal due to the "origin" of prices.. but such a spike like that in the video will deffinatel;y add one more broker to the scam list here at the FPA. It is ugly to see those let me confess, and I am not quiet sure if those spikes are still seen nowadays.
Video #3
--------
This is a built-in feature in the MT4 platform, and it was actually the way Forex was being done like 5 years ago before the evolution of STP/ECN/ETC came in..
In a dealing room of a market maker, the dealers had to "receive orders", look at their "Tenfore" or "Reuters" price source to see the prevailing prices.
If the price matches that on the "global" markets, they can "confirm" the execution at that price asked by the user, "return" the order to the execution queue so it goes to another dealer, or "reject" the order for understandable reasons. In the video, the "return" button was used for something illegal/inaccurate/unethical.. A good approach I must confess
Video #4
--------
Well well, this probably would be the worst thing in the world a broker can do.
Metatrader4 being a software that deals with "orders", must have a way to "manage" those orders.. The manager/dealer must have a way to edit things, correct things just like you do with a wordpress administration interface to edit a post.
I would bet that such editions to traders orders will lead brokers to nowhere except loosing their clients, and probably gaining a superior bad reputation.
Conclusion:
-----------
I feel someone from Metaquotes staff was not paid their salary or deserved wages, so he/she decided to teach them a lesson. The author has simply made reviews of how a broker can use features of the software to abuse traders.
In my personal opinion, there is nothing new or super-secret revealed here. I would also say there is nothing worth making this whole buzz around the topic at all. A car for example, can be used to kill people, just like Electricity and so on.. That does not the Ferdinand Verbiest or Thomas Edison criminals. What we're discussing here seems like the common phrase "guns don'e kill people; People kill people" !!
And one last thing, If the author has some free time and a good lawyer to consult, I can smell a nice monetary compensation from Youtube for blocking his videos. I see absolutely nothing copyrighted in those videos.. The software the author used to demonstrate his theories are all available for the public at different public domains.
Disclaimer:
-----------
Everything mentioned/reviewed/explained in this reply is my own PERSONAL opinion and does not in anyway represent or describe the corporate Entity I work for. The explanations made above are made strictly for educational/informational purposes only. I am noway related nor affiliated with MetaQuotes.
I was asked to comment on this thread, which -to be honest- is sort-of interesting.
Let's talk more about the videos.
Video #1
--------
The Virtual dealer plugin exists, and nobody can hide that fact.
Still, it is not a plugin that gets installed/bundled with Metatrader platform when brokers buy the system to start a business. It comes at an additional cost of $5,000 I believe and can be installed as a stand-alone plugin to help dealers complete certain tasks.
Please notice that I am not here to defend Metaquotes as I have no interest in doing so. For me Metaquotes is simply a software company that I use.. But as far as being involved in the "kitchen" as the thread author calls it, I really believe that the virtual dealer plugin was not made with the captured usage in mind.
Here is an article by Yevgeny Bardebanov explaining in details what, how and weather this plugin is needed or not at all.
https://support.metaquotes.net/en/articles/142
Yes, it can be used to delay orders execution, that's a fact. But if metaquotes will ask for a professional developer's review about it, I bet the developer will say that the plugin has much more to offer than simply delaying executions. At the end, when a broker wants to hold an order from being executed, they can simply stare a few seconds before clicking the "OK" button in their dealing platform/manager. Why pay the $5,000
Here is a snapshot of how MQ introduces the plugin to its audience:
Video #2
--------
Well said, this is a rarely used technique to hunt people down. And yes, this is a built-in feature of the MT4 platform.
Again, i do not believe the intention was to give brokers a way to cheat on thier clients. Specially that in today's world, when a trader sees such a spike, they can simply open the client of another broker and check the prices there.. Any difference in 1-2 pips is normal due to the "origin" of prices.. but such a spike like that in the video will deffinatel;y add one more broker to the scam list here at the FPA. It is ugly to see those let me confess, and I am not quiet sure if those spikes are still seen nowadays.
Video #3
--------
This is a built-in feature in the MT4 platform, and it was actually the way Forex was being done like 5 years ago before the evolution of STP/ECN/ETC came in..
In a dealing room of a market maker, the dealers had to "receive orders", look at their "Tenfore" or "Reuters" price source to see the prevailing prices.
If the price matches that on the "global" markets, they can "confirm" the execution at that price asked by the user, "return" the order to the execution queue so it goes to another dealer, or "reject" the order for understandable reasons. In the video, the "return" button was used for something illegal/inaccurate/unethical.. A good approach I must confess
Video #4
--------
Well well, this probably would be the worst thing in the world a broker can do.
Metatrader4 being a software that deals with "orders", must have a way to "manage" those orders.. The manager/dealer must have a way to edit things, correct things just like you do with a wordpress administration interface to edit a post.
I would bet that such editions to traders orders will lead brokers to nowhere except loosing their clients, and probably gaining a superior bad reputation.
Conclusion:
-----------
I feel someone from Metaquotes staff was not paid their salary or deserved wages, so he/she decided to teach them a lesson. The author has simply made reviews of how a broker can use features of the software to abuse traders.
In my personal opinion, there is nothing new or super-secret revealed here. I would also say there is nothing worth making this whole buzz around the topic at all. A car for example, can be used to kill people, just like Electricity and so on.. That does not the Ferdinand Verbiest or Thomas Edison criminals. What we're discussing here seems like the common phrase "guns don'e kill people; People kill people" !!
And one last thing, If the author has some free time and a good lawyer to consult, I can smell a nice monetary compensation from Youtube for blocking his videos. I see absolutely nothing copyrighted in those videos.. The software the author used to demonstrate his theories are all available for the public at different public domains.
Disclaimer:
-----------
Everything mentioned/reviewed/explained in this reply is my own PERSONAL opinion and does not in anyway represent or describe the corporate Entity I work for. The explanations made above are made strictly for educational/informational purposes only. I am noway related nor affiliated with MetaQuotes.
Last edited:
RahmanSL
Major
- Messages
- 2,938
Javier, let's say I didn't expect to see you here replying to this thread....and, I must add, my esteem of you has gone up a few notches after reading your post reply
Have a very Merry Christmas and a Prosperous New Year....and that goes the same to you too, my old friend Pharaoh, King of 3 kingdoms and upper and lower Nile....and, not forgetting our new friend here EcnJesus who help highlight this possibility in Metaquotes.
Well, I will be taking a very keen interest in this thread as I want to learn out more before I dare to think to be a forex trader.
......and you are right about that possible "lawsuit" thing Javier!
Have a very Merry Christmas and a Prosperous New Year....and that goes the same to you too, my old friend Pharaoh, King of 3 kingdoms and upper and lower Nile.
...and, not forgetting our new friend here EcnJesus who help highlight this possibility in Metaquotes.Well, I will be taking a very keen interest in this thread as I want to learn out more before I dare to think to be a forex trader.
......and you are right about that possible "lawsuit" thing Javier!
Pharaoh
Brigadier General
- Messages
- 20,308
Intriguing insights Javier. I hope our video maker comes back soon and give his own reply.
There is one point that I do have a small issue with:
It should be noted that standard electrical gear comes with cautions, warnings, and safeguards to minimize the risk of injuries. The same applies to cars. If someone tried to market cars with special features designed to make killing pedestrians and occupants easier, that would qualify as a criminal action.
Since you say the feature shown in video 3 is how things were done before STP and ECN came onto the scene, I would wonder if this "left over" feature that can be misused to cheat clients could be considered to be the moral (and perhaps legal) equivalent of building a new car while ignoring all the safety advances had been made since Henry Ford's time.
There is one point that I do have a small issue with:
It should be noted that standard electrical gear comes with cautions, warnings, and safeguards to minimize the risk of injuries. The same applies to cars. If someone tried to market cars with special features designed to make killing pedestrians and occupants easier, that would qualify as a criminal action.
Since you say the feature shown in video 3 is how things were done before STP and ECN came onto the scene, I would wonder if this "left over" feature that can be misused to cheat clients could be considered to be the moral (and perhaps legal) equivalent of building a new car while ignoring all the safety advances had been made since Henry Ford's time.
I think you will find that copyright has not been lost, just because it is already in the public domain!
As far as I know, copyright is an automatic thing so long as there is proof ownership and date!
If you write a song or a book, you still have the legal ownership of the copyright, even if millions have been purchased.
Inventions are not the same!
You have to apply for a patent!
If the invention is made public before the patent application date (even by selling just one or randomly telling people), a patent will not be granted!
