Personal Finance & Money Asked by Aaaargggh on August 28, 2020
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?
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:
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.
Correct answer by glglgl on August 28, 2020
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.
Answered by J W on August 28, 2020
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