Download MetaTrader 5
To add comments, please log in or register
Do you want to write a technical indicator? Find solution in MQL5 Reference!
cpyu99
20
cpyu99 2014.12.01 20:18 

I joined a fx company and they manage my money very well. But somebody told me that their transaction maybe fake, so their performance is very good.  

My situation is as following 

1. I need to use their system to trade and not major FX perform like FX-pro. 

2. I can find their company name in MT4 mobile version, but I cannot find their company name in MT4 desktop version.

3. I have account and password for my account and I can see they are doing transaction real-time in my MT4 account. Also, I can see the transaction history generated from those real-time trade. 

4. The price showed in their server is similar to other fx provider.

In above situation,  could they still able to make fake transaction  and have very well performance ? If so, how I can prove it ?

 

Thanks you in advance 

barnacle7
376
barnacle7 2014.12.02 06:48  

Unfortunately I am not sure how you can tell if the transaction is fake or not , however I have put below some checks I would consider when choosing a broker which may help avoid an suspicious broker.

1/ Look on forums to see what other peoples experience with your broker.

2/ May be you could download a demo from another broker who you have more trust with and see if the open/High/Low/close candles on the chart are the same. (All brokers will differ by a few pips here and there however generally the candle should be similar).

3/Choose a broker that is regulated in your country.

4/ Some brokers maybe and "A Book Broker" or a "B Book" Broker and so handle your trade differently. (do a internet search to understand this more) both are ok , I think B book may be more up to date broker.

5/ Some Brokers on a Spike may fill you at the high/Low of the spike always (Worst fill) although it can happen at any broker that you are filled at the worst price if it happens alot you may want to reconsider the broker. (Especially if your strategy requires trading news/volatility).


Good Luck

/
To add comments, please log in or register