Is my Forex broker manipulating my trades?
Is my Forex broker manipulating my trades?
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Aaaargggh · External communityPost link
External question — Personal Finance Stack Exchange
Author: Aaaargggh
Original post: https://money.stackexchange.com/questions/102084
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I am doing Forex trading with MetaTrader4 and I think I saw the price of the trade change during the trade.
When I look at the history I see this:
The order says: 'buy nas100 for 7280.67 at 2018.11.08 19:43'
When I look at the price of nas100 on 2018.11.08 I see that it was at +/- 7180 at that moment.
Does this mean that my broker is changing my trades on the server to make me lose money? And if so, what should I do?
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glglgl · External communityPost link
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Author: glglgl
Original post: https://money.stackexchange.com/a/102135
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I don't know for sure for forex trading, but I wouldn't expect it to be different from other kinds of trade.
There your buy offer contains the quantity as well as the maximum price for each item you are willing to offer. If someone offers you the same for less money, the trade should happen for this amount.
To be more exact, the price is determined in the following way:
Assume the order book for a given "thing" (be it apples, dollars or Google shares) is emty.
A wants to sell 4000 of it at a minimum price of 7500 €. As no one is here to buy, the order is added to the order book.
B wants to buy 1000, but is not happy with the price and wants to pay only 7100 €. So another order is added to the order book, but on the other side.
C wants to sell now 1500 at a price of 7000 €. As there is already a matching offer, 1000 of these can be sold to B at their price (7100 €). A sell order of the remaining quantitiy of 500 is placed at price 7000 €.
Now, various buy and sell orders can be placed, the ones which can be matched are executed, the remaining ones are placed into the order book.
The price is determined by the orders which are already contained in the order book.
I explain the way how it goes in a simplistic way, but that's about the way how it must be imagined.
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J W · External communityPost link
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Author: J W
Original post: https://money.stackexchange.com/a/130081
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I have had the same situation, and people share the same story. In my case, I opened a trade with a stop loss, and witnessed as the price deviated just enough to hit my stop and close the position with a loss. This was so evident that I looked at the history of prices, and the trade closing price was OUTSIDE of the low-high range for the same bar.
While I can't confirm your doubt 100%, I do believe that forex is a scam. There is someone on the other side who is waiting for you to open a trade to move the price in the opposite direction and take your money. Obviously, there are many traders and the scammers follow the path of best profit.
I used forex.com, but I went to trustpilot and checked the reviews for Oanda too. Lots and lots of negative reviews on both, barely any positive. And I think, those positive may change later.
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Quoted from Forex.com.bd-Editorial External answer — Personal Finance Stack Exchange Author: J W Source score (net votes, not local likes): 0 Original post: https://money.stackexchange.com/a/130081 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. I have had the same situation, and people share the same story. In my case, I opened a trade with a stop loss, and witnessed as the price deviated just enough to hit my stop and close the position with a loss. This was so evident that I looked at the history of prices, and the trade closing price was OUTSIDE of the low-high range for the same bar. While I can't confirm your doubt 100%, I do believe that forex is a scam. There is someone on the other side who is waiting for you to open a trade to move the price in the opposite direction and take your money. Obviously, there are many traders and the scammers follow the path of best profit. I used forex.com, but I went to trustpilot and checked the reviews for Oanda too. Lots and lots of negative reviews on both, barely any positive. And I think, those positive may change later.
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