I am concerned I have been scammed

Nick Z

Newbie
Dec 15, 2016
2
0
1
31
I am wondering if the broker manipulate clients' order or the broker provide wrong price, what clients could do? I don't know what to do. Can someone give me some suggestions? Thanks!
 

Nick Z

Newbie
Dec 15, 2016
2
0
1
31
It's because I set the pending order, but I suspect the broker change the price, stop loss and take profit. For instance, I set up a buy stop order for XAUUSD, the price is 1180. What if the broker change the price 1180 to another price?
 

Enivid

Administrator
Staff member
Nov 30, 2008
15,980
798
144
Odessa
www.earnforex.com
You would see it. If you are concerned by such things, you could be taking screenshots (or recording a video) of all your orders to have some proof in case of the broker's misconduct. However, I'd suggest finding a broker which you trust.
 

garena

Master Trader
Jan 28, 2014
243
5
54
It's because I set the pending order, but I suspect the broker change the price, stop loss and take profit. For instance, I set up a buy stop order for XAUUSD, the price is 1180. What if the broker change the price 1180 to another price?

This is not rare, many brokers are cheating their clients by editing or erasing trading history or manipulating the prices. If you doubt anything, try to record everything.
 

garena

Master Trader
Jan 28, 2014
243
5
54
Is that true, I've never come across such a thing in my years of trading forex, maybe I was lucky?
If you trade with only one broker, you could be lucky, just try several brokers for a long time and you will face.
 

hayseed

Master Trader
Jul 27, 2010
555
157
109
usa
it's also a good idea to fully understand pending orders.... how they can be placed..... how they can be executed..... how the original stop loss and profit target can be changed.....

in normal instances pending orders will be executed as planned.... but anyone using large numbers of pending orders knows this is not always the case.... it simply can not always be the case....

i've had both buystop, sellstop, buylimit and/or selllimt orders activated 100's of pips from their original planned entry price....

and i've had profit targets executed 100's of pips better than my original planned price, which might be the equivalent of someone's buystop/sellstop be executed out of place......

nothing was done wrong by my brokers..... nothing..... it was just the prevailing market price on my "pending" orders.....

you would need a stock type 'fill all or kill all' type orders to guarantee your entry price.... not sure if any forex broker offers those.....

entry price of buystop, sellstop, buylimit and/or selllimt orders are not guaranteed..... and when the entry price changes the stoploss and profittarget usually changes in suit......

deep large bank liquidity protects entry prices....... without it your at the markets mercy..... and so is your broker......h
 
A

AntjeWagner

Guest
It's because I set the pending order, but I suspect the broker change the price, stop loss and take profit. For instance, I set up a buy stop order for XAUUSD, the price is 1180. What if the broker change the price 1180 to another price?

record it or take Screenshots!
 
Jan 30, 2017
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Market makers add mark up in the spreads that they offer to their clients. Forex Brokers who are usually unregulated and adds the mark up to the spreads are scammers. If you are trading any of these brokers, you are going to lose big time.
 

marciakeary

Newbie
Aug 6, 2021
2
0
1
65
I would like to know if brokers, in this case unregulated 24xforex, should be charging 7% commission on the full amount of your balance and even on your own money you put in plus swap before they will allow you to withdraw. I believe forex has manipulated metatrader4 as well. They tell me this is impossible but from my research it seems entirely possible. At this point I just want my capital back but I’m being told I need to pay commission on my entire balance first.
 

Enivid

Administrator
Staff member
Nov 30, 2008
15,980
798
144
Odessa
www.earnforex.com
@marciakeary I am sorry to be telling you this, but you have been scammed. Them, asking you to pay some commission to withdraw your funds is just a way to scam you for even more money. Write the loss down, report them to the authorities, and never send them another dollar.
 
Aug 5, 2021
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I would reach out to the broker to see if they have an explanation…maybe you could be missing something? Otherwise, I’d definitely withdraw my money and go elsewhere. There are so many others to choose from that you shouldn’t be stuck dealing with that.
 

Glossy

Trader
Aug 2, 2021
27
3
9
31
Poland
I strongly advise you all to carefully read all the documents on the broker's website.