Signal provider fake record? Possible?
It is possible for signals provider to somehow fake their trading records? Too often signals providers don't perform as good as their history shown. Please comment thank you.
Its not impossible, I've seen it (very rarely) happen and sometimes MQL5.com delete such signals and/or ban the signal providers and the brokers involved.
But the most common case is that the history you see in a signal its short/brief and that was a very good/lucky period for the signal provider that is very difficult to continue/repeat.
Its not impossible, I've seen it (very rarely) happen and sometimes MQL5.com delete such signals and/or ban the signal providers and the brokers involved.
But the most common case is that the history you see in a signal its short/brief and that was a very good/lucky period for the signal provider that is very difficult to continue/repeat.
What do people think about this signal? <link removed>
I answered you in a private message.
I am trying to answer you in a private message but the messaging system is not working once again, so I place my answer here:
"The scam part in all this is that the drawdown value is fake! The small drawdown value is only true for the time this signal is connected to the MQL5.com database, which is only 15 days!!! That means that this signal could have touched -98% drawdown several times in the past 3 years and you wouldn't know about it, since that is not recorded in its history!"
Yes,it just happend.
There is a post in Chinese forum,the original poster suspects the signal provider modified the open price after the position was closed.
The signal added position #1217538 buy 3.00 XAUUSD at 1336.26
The subscriber followed to open an order #12175626 buy 2.10 XAUUSD at 1336.26
but after the signal closed the position #1217538, the open price was modified to 1333.91 instead of the original 1336.26
The subscriber followed to close the order #12175626 at 1337.17
Yes,it just happend.
There is a post in Chinese forum,the original poster suspects the signal provider modified the open price after the position was closed.
The signal added position #1217538 buy 3.00 XAUUSD at 1336.26
The subscriber followed to open an order #12175626 buy 2.10 XAUUSD at 1336.26
but after the signal closed the position #1217538, the open price was modified to 1333.91 instead of the original 1336.26
The subscriber followed to close the order #12175626 at 1337.17
I think - it should be reported to the service desk (they will check thee situation).
It is possible for signals provider to somehow fake their trading records? Too often signals providers don't perform as good as their history shown. Please comment thank you.
Hi,
It seems that is impossible if the signal provider uses a regulated and trusted broker.
So, if you are selecting a signal provider, make sure the signal provider account is run in the regulated broker.
Anyway, we should not discuss brokers here and prohibited.
Good luck
Hi,
It seems that is impossible if the signal provider uses a regulated and trusted broker.
So, if you are selecting a signal provider, make sure the signal provider account is run in the regulated broker.
Anyway, we should not discuss brokers here and prohibited.
Good luck
That's a good point Yohana, we should always choose trusted and regulated brokers, whether we are signal subscribers, providers, or just simply forex traders.
How can I find out if the broker regulated?
by google for example.
this forum will not help as the discussion about the brokers is prohibited on the forum.
How can I find out if the broker regulated?
On the footer of the brokers website, usually you will find the authority(ies) that regulates it.
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It is possible for signals provider to somehow fake their trading records? Too often signals providers don't perform as good as their history shown. Please comment thank you.