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Identify Manipulated Trading History and Flag Broker Diskussion

Apr 05, 2015 at 13:47
1,741 Visa
19 Replies
RedRhinoLab
forex_trader_165856
Medlem sedan Dec 03, 2013   631 inlägg
Apr 05, 2015 at 13:47
How to identify manipulated trading history?

Follow the Ticket Numbers.

The ticket numbers MUST be in ascending order otherwise the trading history has been manipulated.

Step 1. Please include the ticket numbers into the Trading history tab. Optional if necessary.

Today, we can view the ticket number of the orders by clicking on the Symbol of the trade within the TradeHistory. then myfxbook will show the actual trade in the Trading Browser window ( Actual Data Chart appears ). Once we are viewing the Trading Browser chart, we can click on the B or S to see more information about this particular trade and at this point we can see the actual Ticket Number of the position. If you allow the Ticket Number in the trading history, your website can easily spot out and find manipulated trading history and Flag the trading system.

 Just like how the accounts must be verified as real and authenticated , it is time to prevent brokers from manipulating trading history.




If the Ticket Numbers are not in ascending order, we know the trading history has been manipulated and now we can Flag the broker as dishonest/Scam.

This feature is needed because MT4 brokers can adjust the trading history as needed/ as necessary.


Medlem sedan Feb 04, 2012   85 inlägg
Apr 06, 2015 at 02:38
EXCELLENT THREAD! It was really needed as the number of manipulated ('cooked') accounts have exploded recently on MyFxBook. Currently the only assurance of an account being REALLY verified is if it were running at a reputable broker.

Thanks, RedRhinoLab!
Medlem sedan Mar 22, 2010   31 inlägg
Apr 06, 2015 at 06:23
Yes, MyFXBook needs a brokers' 'Hall of Shame'.
Medlem sedan Apr 25, 2014   249 inlägg
Apr 06, 2015 at 09:48
Hi,
label the broker as scam broker who manipulates history!
Help others
Medlem sedan Dec 04, 2010   1557 inlägg
Apr 06, 2015 at 10:33
very good idea, as yes seem like brokers could be working with vendors in some cases to cook the books.
Medlem sedan Sep 04, 2009   879 inlägg
Apr 06, 2015 at 11:16
Excellent suggestion!
Medlem sedan Feb 04, 2012   85 inlägg
Apr 06, 2015 at 12:23
So far all 'Holy Grails' on MyFxBook have turned out to be results of collaboration between SCAM ARTISTS and SCAM BROKERS.

Until they are weeded out we should trust 'verified' results only from mainstream brokers. Anybody with the 'Holy Grail' could easily set up an account with a reputable broker and reproduce the results with them. If they are not willing to do that, it is a BIG RED FLAG.
RedRhinoLab
forex_trader_165856
Medlem sedan Dec 03, 2013   631 inlägg
Apr 07, 2015 at 06:53
Thank you for all the votes for this suggestion.

I need to elaborate a little more to make sure this feature is implemented correctly to flag the dishonest activity associated with MT4 brokers.

We also need to know if the ''Ticket numbers do not have any gaps between consecutive orders''.

What I mean by this is if

EURUSD trade #1 is ticket number 1111 and if trade #2 is ticket number 1112 , trade #3 is ticket number 1113, etc , this broker and Trading statement needs to be flagged. This indicates that the trades are being isolated on a private MT4 server and no other traders/clients are using this same MT4 server.

Trade #1 is the first trade within the trading history and trade #2 is the next open trade of that same Currency Pair.

If this pattern, ' currency pair has consecutive ticket numbers ' through the trading statement we need to know from what dates. Is it for 1 day, or is it for 1 month, or more than 1 year.

If the currency pair has consecutive ticket numbers within 1 minute or even 1 day, maybe that is ok because I guess an unknown broker may have only a few clients and only 1 trader may trade that currency pair so that one trader could have consecutive ticket numbers for 1 day in a row, but a popular broker has many clients and it is rather difficult to have two consecutive ticket orders unless the open time is within the same minute.

If the trading history has consecutive ticket numbers for more than a few days, we should be indicated by a YELLOW Warning.
If the trading history has consecutive ticket numbers for more than one week, we should be indicated by a ORANGE Warning.
If the trading history has consecutive ticket numbers for more than a month, we should be indicated by a RED Warning.
If the trading history has consecutive ticket numbers for more than a year, we should be indicated by a SCAM Warning.
RedRhinoLab
forex_trader_165856
Medlem sedan Dec 03, 2013   631 inlägg
Apr 07, 2015 at 06:55
Paracelsus66 posted:
So far all 'Holy Grails' on MyFxBook have turned out to be results of collaboration between SCAM ARTISTS and SCAM BROKERS.

Until they are weeded out we should trust 'verified' results only from mainstream brokers. Anybody with the 'Holy Grail' could easily set up an account with a reputable broker and reproduce the results with them. If they are not willing to do that, it is a BIG RED FLAG.

I agree with your statement and I would also like to see the holy grail systems to trade at more than 1 broker to clarify that the results are in fact REAL.

What is mainstream and what is reputable is difficult to say who is what. Regulation doesn't seam to matter, the age of the broker doesn't seam to matter, and only thing that really separates the brokers today are the platforms that they offer. If they only offer MT4 it is difficult to say that broker is reputable but I would assume some will argue.

For all I know, the scams are clearly from MetaTrader Only brokers.
RedRhinoLab
forex_trader_165856
Medlem sedan Dec 03, 2013   631 inlägg
Apr 07, 2015 at 06:57
To conclude the Feature again

1.) If ticket numbers are NOT IN ASCENDING ORDER ( for ALL currency pairs ) based on OPEN TIME , Flag the trading history

2.) If the Ticket Numbers DO NOT have gaps between the Ascending order from that SAME Currency Pair , Flag the Trading History

3.) If the Ticket Numbers DO NOT have Gaps between the Ascending Order from ALL currency pairs, Flag the Trading History

Thank you again for all the votes.
rob559
forex_trader_29148
Medlem sedan Feb 11, 2011   1916 inlägg
Apr 08, 2015 at 21:21 (redigerad Apr 08, 2015 at 21:21)
wow super job,a good way to unmask those fraudsters😀
Medlem sedan Nov 21, 2011   1718 inlägg
May 27, 2015 at 14:38 (redigerad May 27, 2015 at 14:38)
Ok nice I idea.. I vote too.

But then, even we start to detect scam brokers on this way, they will simply start to change ID trades into data history... It will be more work for them, but this can be done easily by programm.
Medlem sedan May 06, 2012   6 inlägg
Jun 07, 2015 at 21:58
Great idea and this looks like something that can be automated so brokers can be publicly shamed if there are a few bad ones.

Are there any situations though when the numbers might be out of order for a legitimate reason?
Medlem sedan Feb 04, 2012   85 inlägg
Jun 08, 2015 at 10:13
37 voted: YES
0 voted: NO

I wonder why MyFxBook is not catching up on the idea...?
BOAR
forex_trader_250523
Medlem sedan May 18, 2015   18 inlägg
Jun 08, 2015 at 12:48
38 voted Yes now :)

But CrazyTrader also has a valid point. If Brokers can manipulate the books, they can surely include the Ticket numbers in their manipulations.
Medlem sedan Dec 04, 2010   1557 inlägg
Dec 02, 2015 at 10:37
44 votes for yes any action from myfxbook? The highest voted suggestion in a long time...
Medlem sedan Dec 04, 2010   1557 inlägg
May 20, 2016 at 07:49
50 votes now for yes. No word from admin still? this needs to be implemented.
Medlem sedan May 31, 2016   2 inlägg
May 31, 2016 at 09:58
It is the support staff through chat which can make a huge impression about the forex broker on the current and prospective clients. Traders always like those brokers which have a very good responsive and co operative operators on the chat because this market is fully online based and need to continue communication to understand every matter and solve any issue of the trader. I have got a lot of help from the support staff of ayrex.com in just an hour and I can surely tell that they are the best in the business in terms of support service provided to the traders.
Medlem sedan Jul 31, 2009   1444 inlägg
Jun 07, 2016 at 12:11
aeronthomas posted:
50 votes now for yes. No word from admin still? this needs to be implemented.

This has been discussed several times in other topics and by email. The methods suggested in this thread will not filter out sophisticated manipulations.

You should keep in mind that an owner of a trading platform can manipulate data as one has direct access to the database, therefore, such a feature will be partial at best and would miss its purpose.
Medlem sedan Dec 04, 2010   1557 inlägg
Jun 07, 2016 at 12:17
Ethan I think this suggestion here: https://www.myfxbook.com/community/suggestion-box/prevent-discussion-until-verified/1132476,1#?pt=2&p=1&ts=42&o=1132476

is more important and likely to have a very big impact on scammers on the site. Too many newbies are getting trapped in scams on here. Hopefully this can be implemented soon.
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