Is there any substance and proof to this assertion? What makes you think you know that the market makers at IB had access to client flow? Not saying it's impossible but highly unlikely. Plus it's quite a difference between a broker that handles on boarding professionally and ethically within the regulatory framework VS a broker who already from the get go makes shady statements and talks shit. What a market maker does is one thing but you can't blame the account opening client facing guy for it. Which other broker than IB let prospects take an industry knowledge exam before even considering them customers? No matter how hard I look I can't see parallels between IB and many of the other shady broker outlets. Nobody is perfect but what matters is general conduct across a large number of observations.
So in short, they are interested. I also always thought this was the business model of TopStepTrader and OneUpTrader. Trade your best traders' positions with leverage.
So to avoid piggybacking you should place your (real) order and place a second one at the very cheap price that will not be touched anymore because the price is not realistic. Because the second order is not filled they cannot trade my signals. They have to wait till the fill of the second order. Which will be never. Am I right?
How to know if you broker is shady or not? Everybody knows you should stay away from shady brokers. But how to know they are or not?
Lol, no back peddling ... I thought that was a very good post. Not saying it's factual, but definitely was a conflict of interest there.
I will tell you something from my personal experience. When I was trading Forex with an US based broker (who still exists and has thousands of employees) our orders were timestamped at the moment the order was executed (was before the internet era). On that timestamped order were all details about the executed order. So also the account on which this order should be booked. One day a stockbroker got arrested for fraud. He placed orders for his clients but he cheated. If the transaction was profitable it was booked on the account of the stockbroker; if it ended with a loss it was booked on the client of the stockbroker. The stockbroker stole million $ from his clients. When I answered the us broker how this was possible with time stamped orders you refused all comments. This US broker has still clients all over the world and probably nobody knows about these practices that happened and maybe still happen. Can you give me a list of brokers who can be trusted and also absolute proof of that? Everybody was for many years sure that email was save. Till we heard about the NSA. Insider trading is forbidden too, but a few US politicians were caught selling all their stocks before the Covid-19 problem became public. You are never sure about any broker. The only way to see if they piggyback you is to have full details of all orders that were executed around the time you placed your order. Full details included identity of the owner of the account. But before you get that data it can already be manipulated. In this thread was posted:The broker said he can do it as long as he doesn't front run the order but a lot of skilled traders scale up with multiple orders so technically he would be front running after the first order. Maybe you can tell me how I can checked if the broker follows the rules? Because if I cannot check it this rules make no sense. By law you cannot kill or steal. But everyday people get killed or robbed.