Eightcap

In the ever-evolving world of Forex trading, the trust and confidence we place in our trading platforms are crucial. The recent experience I had with Eightcap in relation to price manipulation has certainly challenged my faith and ignited my skepticism. It was an average trading day when I encountered a bizarre anomaly in the forex market. Amidst my typical trades with AUDCHF at 3 PM, something abnormal transpired. The price plummeted 25 pips in a fleeting moment, an abnormality impossible to miss, even to a novice's eye. This was not a case of increased spreads at market close or a mistake on my end. The actual selling price exhibited this unpredictable behavior. To confirm my suspicion, I compared the data on MetaTrader and Sierra Chart. Their differences were glaring and unexplainable, no 25-pip wick on the 3 PM candle was featured on the latter. This anomaly stirred unease, but what transpired next was even more frustrating. A significant AUD announcement was made at 5:30 PM that day, causing the price to ascend by 50 pips in a mere few minutes. Had I not been stopped out due to the earlier oscillation, I would have tripled my gains in an instant. The question left hanging, was it a mere coincidence that everyone got stopped out before the news hit the market? Trusting and investing in Eightcap for well over a year, this event was a severe letdown. Their richly deserved reputation for impeccable customer service and effortless deposit and withdrawal methods seemed to fade in the light of this event. Similarly, my Hotforex account told a peculiar narrative. According to its MT4 chart, USDTRY had spiked to an unprecedented 6.39, causing my account to be stopped out. However, a cross-check with multiple other charts revealed that the price hardly crossed the 5.85 mark, piling on to my doubts about the credibility of these Forex trading platforms. Moreover, I noted a clear case of price manipulation on GBPCHF in January 2018. It plummeted about 60 pips before quickly reverting to the original price - an event absent on other trading platforms. Price manipulation and fraudulent stop hunts have become common practices among certain brokers. They claim to rectify such discrepancies but often blame their liquidity provider for the palpable differences in price, denying any responsibility. In conclusion, Eightcap and platforms like it have been seen to manipulate prices, increasing the risk of significant losses. Many traders, including myself, have come to realize that the easy initial winnings and withdrawals are only shiny distractions carefully placed to mask the lurking risk of potential loss. The consequences can be severe, making it paramount to exercise caution in these uncertain waters. Hence, I urge potential investors to opt for reliable and authentic trading platforms that offer transparency and integrity in their operations.

In a day's trading that can best be described as bewildering, I was unexpectedly stopped out of a trade due to what I strongly suspect to be Price Manipulation. At straight-up 3 o'clock - and yes, I am all too aware that spreads are high at this time - my AUDCHF situation (of all the trade pairs I was working with this was the one I was most focused on) plummeted 25 pips in barely a blink. But this wasn't your typical 'I got stopped out because of high spreads' quagmire. The anomaly lay in the very core of the incident: the actual PRICE took a nosedive. To further investigate, I turned to Sierra Chart, a highly reliable trading platform I use along with MetaTrader. To my surprise, the Sierra Chart data feed showed nothing out of the ordinary. No 25 pip wick at 3 o'clock was registered in its feed - a stark discrepancy. As if the mysterious situation wasn't sketchy enough, a significant AUD announcement followed at about 5:30. Within a matter of minutes, the price surged by over 50 pips, a dramatic turnaround that could have offset my losses threefold had I not been stopped out so abruptly. Was it mere coincidence that trades were halted just before this major announcement? I leave it to you to infer the curious sequence of events. This situation has considerably dented my trust in Eightcap Trading, a platform I had come to rely on for over a year without encountering any major issues. They had earned my faith through their prompt customer service and effortless deposit and withdrawal system. Unfortunately, this incident has thrown a shadow of uncertainty over my experience. Looking back on a similar event on 26/08/2019, my HotForex account had been stopped out due to a sudden spike in the USDTRY according to HotForex's MT4 chart. Upon further scrutiny, I discovered that the spike was exclusive to the HotForex chart, indicating potential data manipulation. On another occasion, on Jan 26, 2018, the GBPCHF plummeted nearly 60 pips before stabilizing back to its original price. While it was a moment of panic, upon comparison with data from other platforms, there was no such crash, raising questions about the integrity of the price feed. Regrettably, there have been instances of blatant stop hunting, with the broker deflecting the issue onto liquidity providers. With such discrepancies often being 300-350 pips away from other brokers, suspicions about price manipulation are not unfounded. These binary options may seem enticing at first due to easy wins and withdrawals, yet they can quickly turn into a vortex of losses. It becomes alarmingly easy to get addicted, and before you’ve realized what's happening, you could lose a significant chunk of your investment. My losses amounted to about $35,000 - a harsh lesson learned. For those wishing to venture into trading, it would be wise to investigate and analyze a platform thoroughly before investing. The lure of quick profits can steer you towards risky decisions, but remember that trading is also about preserving your capital and investing wisely."