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Absolutely not. This is a huge misconception. A broker is a tool to carry out trading activities. If you skimped on the tool (by choosing a kitchen), it is your own personal screw-up and no one is to blame but you. Don't work with kitchens, there are plenty of normal brokers out there.
I can tell you about a joke of mine.
I was working with a big broker.
One day a profitable stop was 68 pips ahead of my profitable stop. I decided to make a joke. I decided to make a joke and write a claim: why was my TP 68 pips larger than my order? While I was preparing a claim for three minutes my order profit was corrected without my request to the level of point to point, as I had placed it.
How will the broker shoot a virtual elk, if he can't see where it is and whether it exists at all? The broker will not artificially move the prices by several figures for the sake of an individual stop-loss. The broker has very limited room for maneuver. It is a beast on a short leash.
Good. Since you insist.
I'll describe my experience. But I will reason as a naive trader and as a monster sectarian broker who has no conscience or honour.
I register a real account with a broker. I do not read the rules and regulations. Spread on the dollar-euro pair is 5 pips. I make a deposit of $350. I start to trade by hand. I trade as instructed. Stops stay as I was taught.
I have a problem with scripts. Although all of the necessary checkboxes are checked and the terminal is set correctly. My scripts are simple: open an order and set stops. I am writing to support.
I get the answer:
- You cannot trade automatically on this type of account. Using of expert advisors is forbidden.
- I don't use Expert Advisors, I don't trust them. I do everything by hand. I use only scripts to optimize simple operations.
- Scripts and Expert Advisors are forbidden because they (I forgot the word you wrote) function almost identically.
- I am not comfortable without scripts.
- You can write an application to change the trading conditions so you don't have to wait for the transfer of funds from one account to another. Trading conditions will be changed on your account within 24 hours.
I am making a request. Two hours pass. I get an e-mail confirming the changes. I restart the terminal, authorization is passed and, oh my god, the spread is 15 pips, expert advisors and scripts are working. I have not changed the terminal settings. What have you got? My broker deleted unnecessary checkboxes in software and set permissions, changed spread in the programme and adjusted it.
Many brokers do not go this way. They just offer to open a new type of account with already prepared settings. It is easier for the broker, but for the trader it is not clear and confusing.
Now the broker.
I attract fresh financial blood with small spreads. I allow only manual trading. Reaction time for the trader to make a decision is quite long. Xa-xa trader won't make much with his hands. He starts to make mistakes - the death of his deposit will correct my (brokerage) condition. Stops will have to be placed and I will see them. I will draw a little longer shadow of the candle, and in three to five days I will correct the story. I argue that the market may be influenced by the current market situation.
Where automatic trading is allowed, more oversight is needed, but I can use additional software that reacts in the right way.
It is very difficult to be a looter broker. The point is that brokers draw candles and change quotes history at their discretion. I have come across this. I opened real accounts with different types at the same broker, the terminal version is the same, but the quotes chart was different and changed over time. Of course there will be no special operation behind a single stop. Why do many people believe that there is only one stop at this level? The broker sees all the stops and will only conduct a diversion when there is a significant number of victims. Many criminals and crooks commit their actions hoping they will not get caught. If they do get caught, some part will still be in his pocket, not all will have to be given away. All the brainwashing resources are deployed to do this.
Then there is the virtual stop. If we are able to track drones or scripts, then we will be able to identify what has given the command to close the order. Therefore, if the conditions coincide, the electronic resistance will be activated against the trader's drone.
For example, after a complaint about an order not being closed or a closed order will be written:
- The trade flow was too high. The trading situation changed quickly, there was no subsequent volume at that price. (No matter when it happens or during the active trading sessions or during the sluggish ongoing Asian sleepy session when quotes are not received and the price stays at the same level for several minutes)
- Our sect has little guarantee of execution when orders are placed manually, but even less so when orders are placed by your crooked drones.
- Pay attention to the internet connection. Not enough data transfer speed. (busting my stomach with laughter. I started with a simple modem connection, now it is 5 mbps, I tried it directly from the hub of my provider - it is several dozen times faster and the same result is obtained, a friend has organized it).
So it's a trader on a short iron chain and the broker is not limited by anything. If you imply some kind of law and a supervisory authority, the broker does not care. From time to time all brokers pay fines, but that won't stop marauding brokers from further sabotaging participants in the "shop-market".
Absolutely not. This is a huge misconception. A broker is a tool to carry out trading activities. If you skimped on the tool (by choosing a kitchen), it is your own personal screw-up and no one is to blame but you. Don't work with kitchens, there are plenty of normal brokers out there.
Everyone here falls into two categories:
1. those who have already gone through what you are describing;
2. those who have to go through this bitter science with their own money.
As a rule, traders dig themselves a hole and blame it on brokers.
You are right. Even recommending a broker is now impossible and not possible. In the super democratic western countries, in Asia and in Russia it is the same.
Note the header of the website. The Trading section has appeared. As I understand it, MetaQuotes is now offering the opportunity to trade.
How does a "normal broker" bring your $10 bet to the interbank market?
Of course this is the big question over $10. There are quotations from central banks at which they agree among themselves to exchange currency or at what price to trade commodities for which they are willing to pay that price for goods. There is always a liquidity provider with the name "Ъ", who at the right time or at the right moment will help the broker justify a long, out-of-the-ordinary, out-of-market shadow of a candle. Which will justify the breakdown of loss-making stops in favor of the broker.
That's another thing. Many reputable brokers now include binary options in their trading. Some version of roulette red (sell), black (buy). And while the ball is spinning on the roulette wheel (for a minute or more), enjoy the adrenaline.
On one of the forums found.
The payout percentage of the winnings.
I sometimes play pneumo roulette. It seemed that, unlike slot machines with a winning percentage setting, the game is fair, with a casino advantage of 2.3%. However, two recent incidents have made me wary. The first time was 13 blacks and zeros, the second time 9 reds. Naturally, I bet on the opposite colour. The most surprising thing is that it happened when I was alone at the table. At first, when there were a lot of players, nothing surprising happened. But as soon as everyone was gone, I was alone and played against the bank, I started a very unlikely series.
After a search on the internet, the doubts were dispelled completely, pneumo electronic roulette is a common scam with a set percentage of winnings.Here are the links found:
Quote from the manual
"It's written in black and white:
"In admin mode, you can:-change the percentage of payout of the slot machine in the range from 76 to 98 per cent
- change the price of credit from 1 rouble to 10 roubles
- to view and reset to zero counters
- make viewing of fiscal counters. "
On the other hand, the software manufacturers assure me that the game is fair.
Watching the price in the market gives the impression that there is a constant hunt for stops...
How to make money here ?????
Good observation, this is one of the growth stages :-) Just keep watching!
It's like in relationships, first you don't understand anything, then you observe some patterns, then you can predict the development of the situation.... but no matter how it goes through all the stages... life goes on...