Re: The Worst Forex Brokers List - Scam brokers, Liars, Cheats, Bucket Shops & Swindlers

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knsxrty459 wrote: Sat Mar 02, 2024 2:11 pm JohnnyRy -- Since you are getting into the weeds of Brokers -- I know Brokers can see your positions, I was wondering if you know if they can also see what specific Indicators and Ea's that you are using ? I have seen discussions ( in the realm of using bootleg software ) were people have said yes and no when it comes to what a broker can see when trading with different instrument's . What's your opinion on that ?
Thank you for your important question. The MT4 and MT5 client terminals automatically print the names of all attached indicators and EA's to the Journal tab in the terminal, and the terminal automatically forwards that information to the Metaquotes data server (not the trade server). This is evidenced by some broker-dealer's trading agreements that expressly prohibit "excessive printing to MT4/MT5 Journal tab." The legitimate reason could be that broker-dealers simply don't want their MT4/MT5 data servers bombarded by an onslaught of incoming data that would slow service for everyone. The suspect reason could be that broker-dealers don't want to sort through a mountain of incoming spoof data in order to track the names of indicators and EA's that profitable traders are using.

Indicator and EA settings (inputs) also automatically print to the Experts tab, but I've never seen Expert tab terms in a broker-dealer's trading agreement. That is not to say that a broker-dealer can't view Experts tab information. I simply don't know.

Regardless of the above thought experiment, I have adopted some best practices. In my MT5 live account, I always rename my indicators and EA's to something silly like "Trident_2" or "Black_Magic," and hard code fixed settings into the source codes. My understanding is that the broker-dealer can't access the terminal's MQL4/MQL5 folder, which they would need in order to view source code. I also rename my custom chart (in MT4, offline chart) names to something sill like "GBPJPY_555" because it automatically prints to tabs as well.

Broker-dealers can absolutely view the instruments/symbols traded. You simply can't get an order executed without communicating a symbol to the broker-dealer's trade server. The upside of this (at least, in the US) is that a trader has the right to spot inspect the broker-dealer's aggregate executed orders surrounding any given trade of that trader. The downside is that this is how some US broker dealer's enforce their prohibition of hedging, triangular arbitrage, and/or slant hedging.

Getting back to the thought experiment... I can't really imagine a broker-dealer paying employees to sit around and sort through traders' data in an attempt to discern their strategies. Time would likely be better spent on sales and marketing, given the high level of competition in the forex industry. I can, however, imagine an algorithm that automatically collects information.
“[A]s we know, there are known knowns—there are things we know we know. We also know there are known unknowns—that is to say we know there are some things we do not know. But there are also unknown unknowns—the ones we don’t know we don’t know.”—Donald Rumsfeld, 2002




Re: The Worst Forex Brokers List - Scam brokers, Liars, Cheats, Bucket Shops & Swindlers

77
wojtek wrote: Tue Apr 09, 2024 5:24 pm Maybe for Europe / outside the US, but they are located in the US:
Does not work for me using my home (US) ISP but if I use a EUROPEAN VPN it will load....... so what does that say......... 🤔🤔🤔 Hmmm they dont even let the website load for US citizens or any other part of the world except EUROPEAN etc.......... no way would personally trust them they are a bucket shop designed for bullshit trading
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Re: The Worst Forex Brokers List - Scam brokers, Liars, Cheats, Bucket Shops & Swindlers

79
Jimmy wrote: Tue Apr 09, 2024 6:17 pm The site doesn't load for me either (Australia).
The site loads for me in the U.S. Non-loading is likely due to Javascript or Flash issues in browsers.

In any event, this appears to be a CFD (contracts for difference) dealer (https://livescalpingonline.com/about.html), CFD's are banned in the U.S. because they have no underlying connection to the interbank (prime) forex market. The phone number area code appears to trace back to the State of Pennsylvania in the U.S.
“[A]s we know, there are known knowns—there are things we know we know. We also know there are known unknowns—that is to say we know there are some things we do not know. But there are also unknown unknowns—the ones we don’t know we don’t know.”—Donald Rumsfeld, 2002


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