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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'

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.

nas100 7177.27 at 2018.11.08 19:45

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?

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  • GIven that a trade takes a millisecond, how can you see the price change DURING a trade? The trade is the moment the broker processes the order, not before, not after. That said, there is a SHOCKING amount of lug ins for serve rside metatrader that alllow brokers all kinds of crazy behavior, including giving a client a bad price within a certain time span. – TomTom Nov 14 '18 at 19:27
  • @TomTom I assumed that if the line does not go about 7180 during that moment that it would not make a sale for 100 dollars more. Especially since I remember making that sale at around 7180 – Aaaargggh Nov 14 '18 at 21:09
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    @TomTom Where can I read more about these "features" of MetaTrader that allow crazy behavior by brokers? – Flux Aug 21 '20 at 8:09
  • @TomTom what I mean is that I bought at 7180 and they later changed it to 'bought at 7280' – Aaaargggh Aug 21 '20 at 10:13
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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:

  • Assume the order book for a given "thing" (be it apples, dollars or Google shares) is emty.
  • A wants to sell 4000 of it at a minimum price of 7500 €. As no one is here to buy, the order is added to the order book.
  • B wants to buy 1000, but is not happy with the price and wants to pay only 7100 €. So another order is added to the order book, but on the other side.
  • C wants to sell now 1500 at a price of 7000 €. As there is already a matching offer, 1000 of these can be sold to B at their price (7100 €). A sell order of the remaining quantitiy of 500 is placed at price 7000 €.

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.

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  • Does the inverse apply? If OP offered to buy at $7280 but someone wanted to sell at $7178 would the seller get a bonus because of the higher offer? – Freiheit Nov 16 '18 at 15:01
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    @Freiheit I tried to explain it a bit deeper now. I hope I didn't mix up any details. – glglgl Nov 16 '18 at 15:28
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    @Freiheit No, Your buy price is translated as "I'll pay $X or less" and the order would be matched from the 'top' of the order book (the lowest sell order) and work its way to increasingly more expensive sell offers until either a) the number of shares requested have been bought, or b) no sell offers exist at or below the target price level, whichever comes first. – Brian R Nov 16 '18 at 17:46
  • Thanks for the explanation. I guess this means that I have indeed been scammed. – Aaaargggh Nov 17 '18 at 9:57
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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.

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  • It's not the same for every exchange. Sometimes they can deviate a little bit. But a lot of the Forex exchanges are scammers and this is indeed one of the tricks they employ. – Aaaargggh Aug 21 '20 at 10:10

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