White Label Severs MT4 SCAM (real accounts)

CodeNameTBW

CodeNameTBW.com Representative
Messages
19
Hey guys

Thought this should be brought up. And as many forex traders should be made aware of this as possible.
But there is this video going around the internet talking about "White label severs" Metaquotes has taken it down more than three times.....
Now I wouldn't bore you with all the details, but basically if you pay like 5k-10k you can have your own MT4 server.

And you can make DEMO and REAL accounts. And you can change any details to the accounts deposits, withdraws, profits, and losses,
This is incredibly dangerous and be used to cheat people into thinking someone has a good trading record. But truth is they just got a White label sever. And they just typed in the results they wanted. Also the person can connect the account to any third party website. Like Myfxbook, FXBlue, or even FPA..... :oops:

And they can have it look as if it's a real, Live broker Like ICmarkets, FXopen, Forex.com etc it works with all of them.

I really think you guys should have a look. @Pharaoh can you have a look as well, and give your option because this is incredibly worrying.
(Can someone PM Pharaoh if he doesn't see it)

If I'm wrong here then great. I hope I'm wrong, or late, or maybe I have outdated information. But a quick google of "white label severs MT4" and you will see haft dozen websites offering this service rite now.


Youtube Video


Instagram Part2 video
http://instagr.am/p/B3G-7YYAin_/
 

Pharaoh

Colonel
Messages
19,995
I find this VERY disturbing. Using this, even taking a quick look under the hood with an investor login won't give away the cheating.

I saw your PM. I'll be sending you a few questions.
 

karimS

Recruit
Messages
4
What you are saying is what I am trying to check if it is true or not, can a scam server exists on metatrader platform ? The broker can scam me while showing me a fake ( real account on metatrader) .. I am sure I have been scammed by a very similar way to what you have explained ,, the server name is platformsfx-server ,, it shows that my account is real but they took all my money basically through a website called o-markets.com
 

NotquiteSure

Recruit
Messages
8
Hi guys,

I have been using a broker by the name of Hengxin (HXI) and after having invested significant amounts of money with them realised that they are a white Label broker (unregulated).

Using their services I have been able to attain profits double of my initial investment opening and closing trades by myself using MT4. As I attempt to withdraw funds, they are stating that I need to pay a tax on the profits earned within a week to be able to withdraw my funds due to the high tax rates for my country (Australia)

Would the White Label Broker (HXI in this case) be able to manipulate my screen and have my account set up as a demo whilst showing me that it was a real account instead? This would explain why I am unable to withdraw funds and they wish for me to keep pushing money in to get my existing funds out.

This is raising a lot of red flags for me and I am seriously concerned if I would be able to get back any amount of my funds back. They have also threatened to freeze my account if the tax is not paid in full.

Can anyone give some guidance on this please?
 
Top