Negligent brokers and advisor protection.

Recently, the industry for providing brokerage services has expanded greatly and every day we see the emergence of more and more different brokers. Dealing centers and their subsidiaries also began to actively develop.

The emergence of such competition in this area has given traders maximum deposit bonuses, promotions and all sorts of delights without which it is very difficult to imagine trading. What is it worth to provide leverage of 1 to 1000, when a couple of years ago it was difficult to get 1 to 500.

The number of bonuses and advantages of some brokers over others can make your head spin. However, among all the advantages that came with the development of this area, it is worth noting that the number of dishonest brokers has also increased significantly.

 This is primarily explained by simple statistics. On average, only three percent of people are able to make money on the Forex market, and everyone else, to my deep regret, simply wastes their day. But if you face the truth, in real life approximately the same percentage of people achieve success.

And now about the sore point. Look, if almost everyone is draining their accounts, then what is the point of bringing transactions to the interbank market? This is what a typical deceiver thinks, who not only does not place transactions on the interbank market, but also helps successful people drown with a crowd of losers by slipping various dirty tricks into trading.

One of the most popular tools in the hands of an unclean broker are requotes and slippages.

Slippage is the difference between the price at which the trader wants to close the position (he told the broker about it) and the real price. I think many people have had such cases that when the price moves sharply, you want to fix your profit, but the broker simply does not allow you to do this, giving an error that he cannot perform this operation, since the price has changed during the signal transmission to the broker. And instead of taking profit, you get a loss, and if you are a scalper, you simply lose the trading signal to enter .

Advisors, especially scalpers and those who trade on the breakdown of important levels, suffer greatly from this kind of pranks. In order to avoid this, many developers implement the slip function into the Expert Advisor algorithm. In most cases this line is called slip or slippage. In it you can set the maximum slippage in points at which an order will be opened.

A requote is when a broker asks you for a new price without allowing you to open. In the second case, you have no chance to protect yourself, and the advisor can ask for a price endlessly and will be allowed to open when it is clearly unprofitable for you.

The second powerful weapon in the broker's hands against you is the loss of communication. This often happens before or after the release of important economic news, so that at a time when there is no connection you will not be able to record losses or profits. It is almost impossible to fight such a phenomenon, and the only thing you can do is try to record such a phenomenon. To do this, various expert assistants are used, who, if the connection is lost, send you a message by email. If this happens to you quite often and it is not due to poor internet, you should urgently withdraw money and change broker .

Also, a more blatant tool in the hands of a broker is manipulation of your profit and stop order. Yes, yes, it’s manipulation. I have more than once encountered the fact that my stop order could have worked either earlier or, on the contrary, not worked. This kind of cheating is done by a broker when your expert is your expert or you are working with a large number of orders. A lot of people who use Forex advisors and networkers have noticed this picture.

There is no point in fighting such a broker, however, as a preventive measure, you can use an advisor that will close your positions when a certain profit or loss is reached, without sending data to the broker’s server (when opening a position, you simply do not indicate the profit and stop). Also, when writing an advisor, you can ask the programmer to implement such a function.

The scariest tool in the kitchen may be the quote fight. Just a year ago there was a scandal with one of the brokers who managed to draw a candle out of nowhere by as much as 100 points. If this happens to you, try to remove this fraud and contact the broker’s regulator to reimburse you for your losses.

To be honest, fighting the tricks of dishonest brokers is almost a useless exercise. If you notice that you are being deceived, just take the money and get away from him. When looking for a broker, pay attention to the type of order execution. Brokers that use the Instant Execution very often issue requotes and slippages. Therefore, I recommend working with market execution of transactions such as Market Execution . Thanks for your attention, good luck!