Can a broker provide a fake/fictitious MT4 quote
- The quotes are different for every broker (sometimes - very different, sometimes just slightly different by high/low of the bar).
Because forex market is not unified. Thus, the quotes must be different. - You buy on Ask price, and sell on Bid price. But the charts show Bid prices only.
That is why it is different from what you are checking.
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I am invested in a scheme whereby a company offers algo trading and any profits are shared between myself and the company. From Jan 2021 to now they have never made a loss. I am half convinced this is a ponzi scheme. In addition I noticed that their broker is in a country where financial oversight is slight.
Once I put some money in, I was given an MT4 login.
I decided to crosscheck their trades. On 9/9/21 11:15 (GMT0) they bought XAUUSD at 1793.7400. I crosschecked this with Oanda, same date, time, and tz the ask price for XAUUSD in oanda is 1796.9986. That’s a 325 pip difference.
I did the same for other trades and for almost every single XAUUSD trade the price difference between this broker and oanda is 300-500 pips.
This doesn’t make sense, thus my question. Can an entity provide a fake price quote on the MT4 platform?