Cent account Discussion

Myfxbbok should identify those cent account and mark it as cent account . ( So now we have demo , real ,cent ) .
Many people get scam by those cent account on myfxbook . ( People open cent account with $100 but on myfxbook show $10,000 .
Than those people start offer signal to followers . At the end the account was wipout completely while the SP collect $100 a month from few hundred people ) .
The other scam is people use cent account to run EA than try to sell EA for investors .
Here is the link from one of sad ending from cent account .
https://www.myfxbook.com/members/profitrobot/profit-empire-robot/737501

For now before the myfxbook fix the problem than investors should beware of cent account .The best way is check the broker first to see if that broker offer cent account .If yes than void it .
Good luck .

Vn, there is no specific way to find out if an account is a cent account or not.
Even if a broker offers a cent account, it reveals nothing regarding a specific account.

If you have any suggestion on how this can be achieved programmatically, you're more than welcome to post it here.

On the same note, I would like to point out that it is not an issue with Myfxbook but with the broker offering such accounts with no way of identifying it. Myfxbook is a 3rd party validation tool and as such, it shows exactly the same data as in the trading account of the user.

In this case, the possible way would be if brokers (who offer cent accounts) provide USDc as an account base currency.

And you will see the following under the title of a myfxbook system: Real (USDc)...'

MRodrigez posted:
In this case, the possible way would be if brokers (who offer cent accounts) provide USDc as an account base currency.

And you will see the following under the title of a myfxbook system: Real (USDc)...'

Great suggestion!

Can you suggest me a list of brokers who provide good conditions fro cent accounts? I have one my own (I mean the broker with whom I am trading now - NAS Broker), but I also would like to have a few good in a mind for a case.

mariav posted:
Can you suggest me a list of brokers who provide good conditions fro cent accounts?

TradeFort, Alpari NZ, Forex4you offer good cent accounts

Staff posted:
Vn, there is no specific way to find out if an account is a cent account or not.
Even if a broker offers a cent account, it reveals nothing regarding a specific account.

If you have any suggestion on how this can be achieved programmatically, you're more than welcome to post it here.

On the same note, I would like to point out that it is not an issue with Myfxbook but with the broker offering such accounts with no way of identifying it. Myfxbook is a 3rd party validation tool and as such, it shows exactly the same data as in the trading account of the user.

That's untrue. Are you of all people unaware that Myfxbook does unequivocally display cent accounts as USC for certain brokers? Here are a couple of examples:

https://www.myfxbook.com/members/bavtrader/alpari-cent/940210
https://www.myfxbook.com/members/Quantumfx/mc-exness-cent-cp1/643439

I'm baffled as to why this capability to identify cent accounts is not extended to the rest of the brokers. For instance, the Profit Empire Robot system uses Roboforex as it's broker. Just as the 2 brokers [Alpari/Exness] I hi-lighted in the link above, Roboforex also has specific servers for it's cent accounts, which are the ProCent and FixCent servers. Myfxbook should be able to identify Roboforex's cent accounts through the servers just as it did with Alpari and Exness' cent servers.

It would be great if Myfxbook could look into this issue of irregularity amongst brokers with cent accounts. As we speak, netizens are being deceived into believing that the cent accounts are regular accounts and scammers are on the rampage with impunity.

Regards..

And to make the data more accurate FXbook should either ban cent accounts or not put those account to community .
(Just imagine one person with $10 k cent account it will put in the system as 1 billions $ .That is scary when you see the fxbook community with $20 billion live account .We dont know may be 2/3 of that is cent accounts ??? )
Please ban cent accounts or ban accounts from borkers allow to open cent accounts or not let cent account join the community data )

Staff posted:
Vn, there is no specific way to find out if an account is a cent account or not.
Even if a broker offers a cent account, it reveals nothing regarding a specific account.

If you have any suggestion on how this can be achieved programmatically, you're more than welcome to post it here.

On the same note, I would like to point out that it is not an issue with Myfxbook but with the broker offering such accounts with no way of identifying it. Myfxbook is a 3rd party validation tool and as such, it shows exactly the same data as in the trading account of the user.

@Staff Your system automatically checks the Server for authentication of Trading History and while the accounts becomes fully verified, your system knows what Server the account is linked to.

The server Type is exactly what we need to end this debate and your system can already do it.

As you can see in this picture, RoboForex broker has a server ONLY for CENT accounts, it is called ProCent while the standard accounts use the server PRO or ECN .

I believe you can complete this task satisfactory for this community quickly to end this on going debate

MyFxTrader posted:
Roboforex also has specific servers for it's cent accounts, which are the ProCent and FixCent servers. Myfxbook should be able to identify Roboforex's cent accounts through the servers just as it did with Alpari and Exness' cent servers.

Regards..

Thank you for sharing this. I had to test it out myself and you are 100% correct that myfxbook does have the resources to complete this task.

If myfxbook can Display the Server NAME, wouldn't that clear up the issue?

Guys, we have implemented a solution based on your suggestions and you can see now the 'Cent' word under the system name however as previously mentioned, this is not a 100% solution and will work only for brokers that indicate the server is a cent server.

Your system doesn't seam to work as this is a cent account while roboforex server clearly states Cent in the server name

https://www.myfxbook.com/members/profitrobot/profit-empire-robot/737501

Can you investigate further and make it work correctly.

Thank you for reporting this, our dev team is working on a fix.

Can you display the server Name Under the system name along with

Real (USD), RoboForex, Technical, Automated, 1:500 , MetaTrader 4 , ServerName

RedRhino posted:
Can you display the server Name Under the system name along with

Real (USD), RoboForex, Technical, Automated, 1:500 , MetaTrader 4 , ServerName

Will forward to the development team.

I know this is old, but I stumbled upon this subject by chance and i don't understand what's bad about the 'cent' accounts.
I'm new in this forex world, and from my point of view, there is not much of a difference. The profit these people get in their accounts is the same, the only difference is the total ammount of money in the account, so what's the problem?
You are going to check the performance not the quantity of their money.
And if they want to scam people, i don't think they are going to make good trades, if they make good trades they don't need to scam people... i don't see the point.

I traded on FXTM cent account, instant execution, it is ok as for instant. But for professional trading it is not serious of course.

Hi
I re up this discussion would be very usefull having a flag that can dive by 100 all the results shown by cents account.
would be easier compare Personal Portfolio performance.

Tnx a lot for your help

Accurate posted:
Hi
I re up this discussion would be very usefull having a flag that can dive by 100 all the results shown by cents account.
would be easier compare Personal Portfolio performance.

Tnx a lot for your help

Was this implemented ?
If not, +1