Misrepresentation of micro account
Dec 21, 2009 at 21:21
1,572 Views
5 Replies
Member Since Oct 29, 2009
76 posts
Dec 21, 2009 at 21:21
(edited Dec 21, 2009 at 21:23)
Well, never really thought about this until it was brought to my attention.
I have open an micro account with fxopen which is represented in cent. But my fxbook portfolio is representing it in dollars.
This does and is construed as a misrepresentation... It will not stop someone from opening a micro account, and indirectly inflate it as a $$ account.
I could easily say that I am trading a $100,000 account when i am only trading a $1k account...
Have a look see...
https://www.myfxbook.com/members/bestforexea/my-lovely-megan/10132
I am actually only trading $1k but it's showing as a $100k account. No doubt one of the vital information is the % return rather than the net return.
But in the forex world... everything can happen...
I have open an micro account with fxopen which is represented in cent. But my fxbook portfolio is representing it in dollars.
This does and is construed as a misrepresentation... It will not stop someone from opening a micro account, and indirectly inflate it as a $$ account.
I could easily say that I am trading a $100,000 account when i am only trading a $1k account...
Have a look see...
https://www.myfxbook.com/members/bestforexea/my-lovely-megan/10132
I am actually only trading $1k but it's showing as a $100k account. No doubt one of the vital information is the % return rather than the net return.
But in the forex world... everything can happen...
NEVER say DIE!!!
Member Since Jul 31, 2009
1449 posts
Dec 22, 2009 at 09:49
Casey, thank you for bringing this to our attention.
This is indeed a serious issue which we have over looked.
We'll be investigating further to find a solution to this issue.
Thanks again! 😄
This is indeed a serious issue which we have over looked.
We'll be investigating further to find a solution to this issue.
Thanks again! 😄
Member Since Sep 04, 2009
879 posts
Dec 23, 2009 at 05:11
I see also a lot of supersmall acc. where are full lots traded there... that's just not possible... i think there is a heavy decimal issue
i.e. https://www.myfxbook.com/members/anki37/bts-bedjo-trading-system/11011
i.e. https://www.myfxbook.com/members/anki37/bts-bedjo-trading-system/11011
Member Since Jul 31, 2009
1449 posts
Dec 23, 2009 at 07:48
pc8multifx, this is actually not an issue.
It might seem in the chart that the trader traded 6 lots with a $500 balance (which is not likely), but remember that what you see in the chart is the daily totals - so it can be for example 6 trades with 1 lot each (use the history to see the exact break down).
It might seem in the chart that the trader traded 6 lots with a $500 balance (which is not likely), but remember that what you see in the chart is the daily totals - so it can be for example 6 trades with 1 lot each (use the history to see the exact break down).
Member Since Sep 04, 2009
879 posts
Dec 23, 2009 at 11:02
no, that's not what i was referring to.. plz go to trade history of the above mentioned example and u will see what i was talking about. These shown full lots there cant be in reality. U cant get a single full lot with this acc. size. So, if these break down is wrong is than the given daily total wrong too?
Anyway, one of the two lot size infos is not correct.
Anyway, one of the two lot size infos is not correct.
Member Since Jul 31, 2009
1449 posts
Dec 23, 2009 at 11:29
Ok, seems like you're right.
It appears to be a mini account, although we currently have no way of determining it - we'll investigate further.
As for the statement - it is taken directly from the broker, so all of the data is correct.
If you have any suggestions or ideas, let us know.
It appears to be a mini account, although we currently have no way of determining it - we'll investigate further.
As for the statement - it is taken directly from the broker, so all of the data is correct.
If you have any suggestions or ideas, let us know.
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