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Forex Broker steals the entire Forex account in 3 minutes.

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  • Forex Broker steals the entire Forex account in 3 minutes.

    Watch as a Forex Broker steals the entire Forex account in 3 minutes. We need your help to catch the criminal

    https://www.youtube.com/watch?v=mz2iyfrsFew
    Last edited by RenkoGuy; 08-01-2017, 10:20 PM.

  • #2
    I watched the video, the guy is not being 100% honest or he is just an idiot. The difference between demo and live is the spread, if you didnt know that I have nothing to say. A new month started, spreads went up, brokers that have poor liquidity providers had higher spreads and thats why he lost. I dont know his time zone but Im going to make an educated guess it was not long after the new month started. Another thing to think about, 10 lots is 1 million, he only had 3.5k. That means his leverage was more than 200:1, what the hell was he thinking?

    When you lose money you come up with a lot theories why the broker made you lose. I dont know who they are and whether they are regulated or not, from what I get the spread opened and he thought it was the broker. This shows whoever made the video is completely amateur or he was paid by competitors to trash that broker. Brokers can open the spread, yes, but because it was the start of a new month it will be hard to prove.

    Conclusion: dont believe everything you read on the internet.

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    • #3
      I dont think you watch the video

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      • #4
        I did, the guy is an amateur if he doesnt understand the spreads. I am not saying they didnt open the spread on purpose but you will have to prove it. If he opened the trade during regular trading hours, fine, they did it on purpose. If it was at the rollover or right after economic news then he has no idea what he is on about. I saw the comments in the youtube as well, im surprised no one brought it up, it tells something about them.

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        • #5
          Originally posted by Tame788 View Post
          I did, the guy is an amateur if he doesnt understand the spreads. I am not saying they didnt open the spread on purpose but you will have to prove it. If he opened the trade during regular trading hours, fine, they did it on purpose. If it was at the rollover or right after economic news then he has no idea what he is on about. I saw the comments in the youtube as well, im surprised no one brought it up, it tells something about them.
          First of all the account size was not 3.5k but 5k
          The EA dont takes positions if the spread is more than 1 pip
          The lotsize was 5 lots not 10 lots

          You see yourself as a smartass ?

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          • #6
            I did very quickly skim the video - and it looked very much like a DMA feed around rollover. Exactly how a DMA feed reacts.

            That is why most brokers choose to be ECN so they can smooth out price feeds.

            For a broker to manipulate price like that, is a big ask on the MT4 side....

            Just my 2 cents on it any way.

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            • #7
              Originally posted by WillT View Post
              I did very quickly skim the video - and it looked very much like a DMA feed around rollover. Exactly how a DMA feed reacts.

              That is why most brokers choose to be ECN so they can smooth out price feeds.

              For a broker to manipulate price like that, is a big ask on the MT4 side....

              Just my 2 cents on it any way.
              I meant to quote renko and not you, sorry.

              You need proof it was intentional and from where I see it he opened that trade at the rollover or right after some news. About the EA not taking positions, who said the spread didnt get bigger after he was already in the trade? About the trades, are you blind? He was 10 lots open and 10 lots short. He got margin called on one of the trades so only one was open, 10 lots. About the money, yeah, it was $5k.

              Its not a manipulation of the broker, the guy is just stupid, anyone can see that.

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              • #8
                And then he complains why the broker closed one of his hedged positions, the guy is an idiot. The EU regulations said years ago that when you hedge you still need a margin for one of the trades so thats why the broker automatically closed one of his trades. If he didnt know that then he has no idea about hedging either, he shouldnt even be allowed to trade.

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                • #9
                  I guess you guys don't know that presenter and even question why was he recording, not something a brand noobie trader would do???

                  The Double in A Day Forex Technique and Forex EA enables the Automatic doubling of your account on a risk free basis using break even top ups
                  The eyes are useless if the mind is blind...

                  Comment


                  • #10
                    None of you watched the video to the end clearly!!

                    Sent from my SM-G930F using Tapatalk

                    http://www.myfxbook.com/members/dupapa

                    Comment


                    • #11
                      Yup. He got scammed. No doubt in that. One of the worst brokers indeed.

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                      • #12
                        Amazing how people can watch and comment but clearly didn't actually watch it lol

                        I think the lesson is don't risk it with bucket shop brokers in the first place

                        Sent from my SM-G930F using Tapatalk

                        http://www.myfxbook.com/members/dupapa

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                        • #13
                          Not surprised..

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