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A few days ago, I read an article at ForexFactory.com. It is about a plugin for MetaTrader4, forex trading platform that is used by most of forex trader. It is called "Virtual Dealer Plug-In". I was surprised that MetaQuotes was developing such plug-in to help broker for cheating clients. With this plug-in, brokers could do many things to make an order from client to be failed such as:

  1. Confirmation of the clients' requests with regulated execution delay up to 5 seconds and recheck of Limit & Stop Level and Freeze Level.
  2. Processing of pending order activations, Stop triggering, and stopouts.
  3. Confirmation of requests on stream prices (Instant Execution) with adjustable permitted slippage.
  4. Watching symbol gaps, during which pending order BUY STOP and SELL STOP and stops of open positions are activated not at the client's requested price, but at the gap price.
  5. Automated moving up the Limit & Stop Level and Freeze Level according to the preset list of news time.
  6. Disabling (setting,modifying,deletion) of pending orders during news receiving.
  7. Working in parallel with real dealers. In this mode, only those requests are processed the volumes of which do not exceed the preset level.
From this explanation, I felt disappointed of MetaQuotes. They are supporting brokers to cheat clients. I think the idea of brokers are cheating us to chase our Stop Loss and avoid the Take Profit level is true. I think we better to find another platform that support of fair trading between brokers and clients. Don't let brokers fool us. I hate brokers who cheat their clients!

source : http://www.forexfactory.com/showthread.php?t=70582

2 Comments:

  1. Anonymous said...
    Hello,
    trading with MT4 brokers has it's advantages too because they provide high leverage and swap free accounts, but i always wondered why does my close order delay and my SL/TP order execute instantly ?!!

    You gave the answer to this .. thanks
    Anonymous said...
    i bet all those complaining have been using EA's and was kicked out from those brokers, due to trading on delayed prices or scalping.:p

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