You never wondered why dealing centers are so insistent on their pages offering traders the trading platform? Also free of charge. The fact that MT4 trading platform was developed by individual company, and other trading platforms developed by the relevant computer companies, which have a mediocre connection to real trading .
On the one hand, one could suggest that this is done for convenience of clients who do not need to download a separate terminal, to separately open an account with a broker. Also, one would assume that dealing centers purchase the program from the developer and modify it in accordance with their own unique features. But then why the terminals are free of charge? And why the same MetaTrader 4 can be downloaded for free anywhere (not just from the broker?). Everything is not so simple.
MT4 trading platform: how to protect yourself from fraud
The MT4 trading platform is one of the most popular among traders. However, the information that it was developed specifically for broker, is hided. The components of trading platforms:
Metatrader klient. Direct client terminal, through which trade takes place. This is the trading platform that a trader downloads and works: open trades, uploads technical tools and advisors;
Metatrader server. The operating core that handles ongoing operations, the processor of MT4 platform;
Metatrader manager. A part of the terminal, which is under the control of the broker through which it has the ability to manage customer accounts and quotations.
Below is a screenshot of such a hardware MT4. It can be seen that the employee of the dealing center sees all customer accounts, their types, etc., Accordingly, it costs nothing to make a barely perceptible adjustments that can bring the client a loss.
Examples of such adjustments:
setting own quotations;
the failure of stop-loss;
“random failures” of the terminal.
And this is not a complete list of how MT4 trading platform can be adjusted. However, in 90% of cases, the novice traders themselves lose their deposit without such fraudulent actions on the part of the dealing center.
In an effort to be safe, here is another screen, maybe it will help you.
Summary. To protect yourself from fraud on the part of the dealing center is not easy. Experienced traders recommend:
do not keep money on account, far exceeding the security deposit, that is, to withdraw money on a rolling net profit;
to work with dealing centers (brokers) of the top ten (although that too is not a guarantee;
in case of the slightest doubt make screens, which you can later share with other traders (even regulators) – you will not return the money, but at least warn others.
Nobody will give 100% guarantee, that there is no plug-in that “sits” in MT4 trading platform. However, there is a second option: to work directly with brokers and not the dealing centers (the difference we described in this article), going on the European and American markets. Anyone will hardly cheat you there.