How Forex Brokers Manipulate Your Trading. Real Examples
Your Forex broker could be manipulating your trades right now - and you would not even know it.
They can rig your charts, trap you in losing trades and steal your money.
In this article, I will expose how they do it, I will show you a real example how broker's manipulations can lead to bad trading decisions and significant losses.
What I’m about to show you will change the way you trade forever, and you’ll never look at your trading charts the same way again.
The story started with a trading live stream in my academy with my students.
We spotted a nice setup to trade.
We found a strong 4H support on Silver with a confirmed liquidity grab after its test.
As a confirmation, we identified a cup & handle pattern on an hourly time frame and a breakout of its neckline with a bullish imbalance.
When I got my entry signal, I opened my trading terminal to execute the trade.
And the way I trade is very specific: I use TradingView for chart analysis BUT I have a separate trading terminal for trade execution.
When I opened the same setup in my trading terminal, I saw a completely different picture and a strong bearish signal.
The broker that I use for technical chart analysis is OANDA , while my trading terminal uses ICMarkets quotes.
On the right is the price chart of SILVER with IC.
There we can see a valid breakout and a candle close below the support with its consequent retest.
From a price action perspective, it is a strong signal to sell .
I got a strong feeling that some kind of manipulation is going on here, so I decided to check Silver charts of other brokers.
Only the broker that I used for market analysis on TradingView provided a bullish signal, while other brokers had very bearish charts on Silver.
It looked very suspicious and felt like OANDA broker was inducing me to buy, knowing that the price is going to drop. So I made a decision not to take a trade.
Look what happened then.
After a retest of a broken support, Silver dropped sharply.
Checking the same trading setup on different brokers' charts can help you to avoid the manipulation.
My simple decision to examine more charts helped to avoid a losing trade.
I strictly recommend you doing the same thing before you place a trade.
IF you see a strong deviation of your charts from other brokers, stay alert and vigilant. Probably it is not a good idea to open the trade.
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I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
