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  • c7traders

    Hello, any feedback on this broker: ?

    They have a lot of signals, but it seems their draw down is not shown correctly. Some are saying the real draw down on some system is over 80% and some even blew out, while on simpletrader they show only about 10% DD. How is this possible? This broker might be the next scam, so any feedback is appreciated. We need to warn people if something is wrong!!!

  • #2
    Here is the signal I was looking at: You can see it shows only 9% DD. but in reality, it blew...


    • #3
      I also found this:

      And on forexpeacearmy there is a warning issued:


      • #4
        The same user who ran this system you posted that blew but didn't show the real drawdown is also the same one running Dilong.

        If you look at the closed trade history, you will see that some how they are giving myfxbook access only to the open price and take profit point but the draw down is hidden even if trade duration is 2 hours or more. Here a pic of what I mean:

        Would be nice if someone who is following these signals writes something about this.


        • #5
          These markets are brimming with scammers!! Wtf.

          How is it possible they fudge myfx book so well

          Sent from my SM-G930F using Tapatalk


          • #6
            Originally posted by dupapa
            These markets are brimming with scammers!! Wtf.

            How is it possible they fudge myfx book so well

            Sent from my SM-G930F using Tapatalk
            Pretty sure they are a signal service and a broker? I thought i remembered nick saying steady capture was listed there
            Too since few momtjs ago cos they got chinese money access? Dunno


            • #7
              I don't know if the guys at simpletrader have fixed something, but I'm sure the drawdown shown on the Dilong signal is now showing much larger than it was a couple of days ago :-

              Simpletrader says 20.02% on the 'Trading Overview' table (though the drawdown history still only shows 1.18%)

              FX Blue is a leading provider of apps and services for forex traders. FX Blue offers analysis of trading results, apps such as trade copiers and trade simulators, plus charts and alogrithmic news feeds.

              MyFxbook says 1.66% drawdown


              • #8

                this is steady capture signal at C7trader website.


                • #9
                  Hi Guys, I believe you are mistaken. I am an existing copier of the strategy Dilong, allow me to explain.

                  Firstly, I am trading with C 7 Traders after the introducing by one of the Signal Provider and I have been running without a problem since.

                  The issues you guys raised seems to be a Simpletrader issue.

                  There was no trades performed by Dilong in the couple of days back but the D.D suddenly changed from 5.89% on SimpleTrader to 20+%. I believe this is some sort of formula change or recalculation bug that happened. This sort of bug has impacted Signal Providers in the past and Dilong is not the only one affected by it.

                  With regards to myfxbook, the D.D calculation is different from SimpleTrader and therefore it doesn't give the same results. This is something all traders know about. In fact, myfxjunction, simpletrader, signalstart all gives different D.D results. From my experience, myfxbook is the most accurate. But sometimes, they give odd results too.

                  Each of the strategy hosted on Simpletrader is performed by individual traders trading with C 7 Traders. I know the guy behind Dilong but Im not too sure about the one behind USDCAD. In any case, i doubt they are hiding stuff because the USDCAD myfxbook clearly shows the account going burst but SimpleTrader is not. Therefore, this means that it is a SimpleTrader issue.

                  Unless of course, if C 7 Traders is in cahoot with SimpleTrader to rig the results, then they could be a scam. But this is highly unlikely so in my opinion, all is good here )


                  • #10
                    Yup, its a simple case of different platforms using different D.D calculation. I dont think you can blame the broker here, they are simply providing the platform for traders to trade. Unless you can spot any trades that have a fake fills.

                    I have looked through past data of Dilong and matched against my broker, all seems good to me.


                    • #11
                      Weird that both of these accounts are created today and the guy behind the USDCAD is the same one behind Dilong

                      The signal description is the same as Dilong

                      What I find very interesting is that Dilong just changed his description from "No Hard Stop" to now saying 10% Hard Stop lol and is placed now back to first place.


                      • #12
                        If C7 are good and legitimate why are they having warnings from regulator? Another thing, there is no way the DD on Dilong is so low (1.66%), because if you see he starts increasing lots once he is in DD and only that surpasses the low DD from myfxbook. He opened 1.48 lots and went into DD of -49 pips but in the end he closed trade in profit of 43 pips which resulted in being 5% profit. So this means his DD was over 5% in one point plus not to mention all other trades he had before were adding to the loss... You can check it here:

                        So the real DD is entirely different than it is presented and if broker shows only trades being closed and not trades while in DD than this is something fishy to me. Also simpletrader needs to recheck all of this and give some explanation. How can they correct DD one day and the next day it is all back? They corrected the DD based on something, no? If they can see the trades in current time, than they must see the real DD...

                        I do not like where all this is going and some random guys opening accounts here just to post here in this specific thread is really fishy. This is fake review as was warned in forexpeacearmy...


                        • #13
                          Also here is the proof the DD for Dilong system on myfxbook is fake:

                          If you count all trades that were in that basket you can clearly see that those 2 trades that have 5% profit and covered for the whole basket to end in profit, were also in more than 5% DD each, combined with all the trades from the same basket the DD was at minimum over 15% only on that basket, so how can myfxbook show DD of only 1.66%?


                          • #14
                            It would be nice to see some kind of comment from the Admins, would seem worth looking into.

                            After all, Dilong is the top rated signal, and the others from MohitV (using C7 Traders, same description) are scattered around the top 30 .....

                            (Apart from USDCAD Scalper, RIP)


                            • #15
                              do note that fx book also has some bug issue regarding the stats!