1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Stay away from Iamfx

Discussion in 'Scam Alerts' started by amir132, May 16, 2013.

  1. amir132

    amir132 Private

    Joined:
    May 16, 2013
    Messages:
    31
    Likes Received:
    3
    I've had experienced something wrong with Iamfx especially stop loss hunting.Please share your opinion with this broker here.
     
  2. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,688
    Likes Received:
    2,241
    Can you please share some more details here?
     
  3. amir132

    amir132 Private

    Joined:
    May 16, 2013
    Messages:
    31
    Likes Received:
    3
    I've been experiencing stop loss hunting as some says like that.
    I don't know if it is because the broker or the banks,but what I know,when I enter a trade,it immediately reverse its direction,and it happened several times.

    For example,if I "buy" a pair,it goes down immediately,and vice versa...I thought that I am maybe in dillusion but it was real.It doesn't happened in the first week,but after a while,in the 3rd week,I experienced it,just like other brokers.
    I opened 2 trades,if not mistaken,maybe 3 on 22 March 2013,around 17:00(2 short and 1 long)
    The file that I uploaded showed a different broker but the trades are with Iamfx.There is large spike that is way beyond expectation in a 1 hour chart.I've never seen such spikes before in 6 months already and I'm sure there is something that doing that,not because of the market acting like that.

    Here is the chart....

    fake breakout bcause of market manipulation...opened buy @1.297 but listed as open order @1.2997. fake breakout bcause of market manipulation...opened buy @1.297 but listed as open order @1.2997.

    I know this is a chart from fxopen,it is because i cannot retrieve the exact chart from iamfx....
     
    #3 amir132, May 18, 2013
    Last edited: May 18, 2013
  4. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,688
    Likes Received:
    2,241
    Let me put it to you this way. If a totally different broker shows the same spike, the only people hunting your SL would be large players in the market.

    Think about it - if a fake spike takes you out on one broker, why would a different broker have that spike on their charts?
     
  5. amir132

    amir132 Private

    Joined:
    May 16, 2013
    Messages:
    31
    Likes Received:
    3
    I don't think so...my friend with diff broker didn't get hit...but mine get hit....furthermore,I should have know that iamfx is not entirely ecn broker...they are STP

    Furthermore,there's no way that large players reverse the price action as soon as I enter the trades...I mean less than a second...How come large players know where the traders' entry points...they may can figure out where the stop loss,but they also know where is my entry points?

    I tried this out,when I double trades...when I did that,the price just stops and didn't go anywhere..so,if I buy,it goes down,and vice versa...

    but if I put both buy and sell,the price just stops...how come the price stop as soon as I hedge my trades?

    This is very confusing...

    Or,maybe I have to assume that the banks know our trades' entry points,stop loss,take profit...By this way,I can't blame the broker

    I won't easily blame others because I always think it is my fault,
    but when things get confusely weird,I just cannot think but to find a logical reason behind it..

    <Humans are based on logical thinking and common sense>
     
    #5 amir132, May 20, 2013
    Last edited: May 20, 2013
  6. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,688
    Likes Received:
    2,241
    Price feed will vary a bit from broker to broker. My broker shows candles within a pip or two of your charts for that time frame.

    Big players do sometimes "know" what people are doing. There's a reason that many "classical trade setups" fail. Imagine if you know that a large number of people will place stops 10-15 pips past a certain easily identified support or resistance level, and that you (and maybe a few friends) have the ability to enter some very large trades to push price in that direction to grab stops. Since different brokers connected to different LPs, some may show the spike and some may not.

    Forex is huge. The days of one super trader being able to manipulate the market and cause big, long-lasting moves at will are gone. The days of a single big trader or a group of large traders being able to force temporary spikes are definitely still with us.

    If you really want to test this, find a friend or two who uses the same broker and perform an experiment. Make certain there are no big news releases planned, and open trades in the opposite direction (NOTE: If you've accepted bonuses, this can be hazardous to your account - if not, no one should care). Both of you make videos of your screens. If your chart spikes one way and your friend's chart spikes the other way, then you've got real proof of broker manipulation of the price feed.
     
  7. amir132

    amir132 Private

    Joined:
    May 16, 2013
    Messages:
    31
    Likes Received:
    3
    Yeah,I know sometimes the big players know where our stop losses are..but the point I want to highlight is the ENTRY POINTS...how come the price reverse at the moment I entered for several times continously....unless,someone saw my entry points....I enter trades at random points but still the price reverses each time I enter a trade without fail....

    I want to show the proof but I can't...I don't want to risk any more of my money on that broker....and I'm sure if in demo,this thing won't occurs...
     
  8. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,688
    Likes Received:
    2,241
    By default, all orders open a small amount negative due to spread. There are brokers that will try to spike you out, but that only works if you take so much risk that you can be forced into a margin call or if you put a stoploss very close to current price.

    You would need better evidence to prove any manipulation.

    It could be worse. Typically when I buy physical gold, the markets take a significant drop within the next 24 hours. If there's a 1 day delay in my purchases, the markets always go up before I can get there and pay.
     
: iamfx, iamfx.com

Share This Page