Is it possible for brokers to act dishonestly?

It could happen. If this happens, you can contact their CS, or if you are not comfortable, leave immediately.

Thanks.

@Robin: The possibility of broker fraud by executing orders opposite to our positions certainly exists. First, I need to determine in which account they are executing the reverse orders.

1. Reverse orders in our account

This is a very clear sign that this broker is fraudulent. Brokers are not allowed to manipulate our transactions because this would violate the terms and conditions when opening an account. If this happens to you, withdraw your funds and look for a good broker. This usually happens with market maker or non-dealing desk brokers.

Please read more here: Understanding Market Maker (Dealing Desk) and Non-Market Maker (Non-Dealing Desk/NDD) Brokers

2. Reverse orders in their account

This case happened in 2017 which caused FXCM to be sanctioned by the CFTC. Brokers are not allowed to open positions against their clients as this would create a conflict of interest.

For the security of your trading and funds, we recommend choosing a broker that is regulated by a credible international regulatory body, namely: CFTC, NFA, FCA, FSA, FINMA, MiFID, ASIC and FMA. Credible regulatory bodies are those that have been tested and internationally recognized, and provide strict sanctions to brokers if they are found to violate agreed terms. These regulatory bodies are also responsible for the security of client funds. We do not provide recommendations to specific brokers. Please check (and re-check) the list of several brokers at:

• Forex Broker Reviews
• List of Popular Forex Brokers in Indonesia

Thank you

It did happen in 2017. But it has been resolved. That means someone took responsibility. Besides, FXCM has never failed a withdrawal... Unlike small brokers whose withdrawals take weeks. Even failing altogether. That's why we've never been interested in brokers who claim to be honest but are actually dishonest. By the way, I want to ask the master:
1. If a broker offers account types such as a cent account, or other types of accounts that shouldn't exist under account rules, isn't that a DD broker type, master?
2. Is it advisable to be recommended a broker that uses illegal payment methods, master...? 
3. What type of broker is good in terms of registration for opening an account? Is it the one where if we register a real account, the documents are in accordance with government and regulator rules (complicated)?  Or the one where if we register with an easy process, we can immediately have an account number...? Without going through a complicated process...? 

For fellow traders. Please choose a reputable broker. One that has been around for decades but remains the best. Honest, etc. Insta is also a long-standing broker. I still remember back then I was trading in 2006. Luckily I didn't deposit immediately. Because I wanted to find out reviews of the broker first.

Then look for brokers whose names always appear in the news. And choose them registered with NFA, FCA UK, ASIC, and other major regulators. And it's better if they have multiple registrations. Apart from those major registrations, don't. They are dishonest.

@Ahmad: That's right, FXCM was found guilty and settled the issue. I was just explaining what the questioner above asked, and I gave the example of FXCM from the past.

1. If a broker offers account options such as a cent account. Or other types of accounts that shouldn't be in the account rules, isn't that a DD master broker type?

What are the account rules in question?

Brokers are not just 2 types: DD and NDD brokers, but there are also hybrid brokers (a combination of DD and non-DD). Many hybrid brokers are fair. For the hybrid type, losing traders will be directed to DD and consistently profitable traders will be directed to NDD. Is that allowed? This is perfectly legal, and it is part of the broker's business model.

So, don't panic quickly if someone offers a cent account, first check if they are purely market makers, throw to LPs, or hybrid. What we need to be wary of is the purely market maker, because they don't throw any positions to LPs, so all profits come from their own pockets. This will become a source of problems if it turns out someone can be profitable or make a big profit at that broker.

2. Is it recommended to use brokers that use illegal payment methods master...? 

Good brokers do not use illegal payment methods. It's a bit complicated and the fee cuts are expensive, but security is better than brokers that allow payments (deposits and withdrawals) through third parties.

3. Which type of broker is good in terms of registration to open an account. Is it the one where if we register a real account  documents that comply with government and regulatory rules (complicated). 
or the one where if you register with an easy process you can immediately have an account number...? Without going through a complicated process...? 

The complicated one. Usually, this broker will match the name and address of the registrant's ID (KTP/SIM/Passport) with supporting data (electricity bill, water bill, telephone bill, savings book, etc.). If the name and address do not match, the registration will be rejected. Similarly, the supporting data (electricity bill, water bill, telephone bill) data must not be older than 6 months.

Why can it be complicated? Because a good broker doesn't just accept any random data. Brokers now implement KYC (know your customer) and AML (anti-money-laundering) rules that make registration and payment processes at brokers more stringent.

Thank you

Which is more recommended between FXCM and FXTM, bro @Rizki Rosadi? I plan to switch brokers and want to try Day Trader trading style. Thanks.

@Bejoe: I personally prefer FXCM