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MetaTrader 5

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MetaTrader 5 – Platform Overview and Traders’ Feedback

MetaTrader 5 is a commonly adopted trading platform created by MetaQuotes Software. Its purpose is to facilitate online trading across a variety of financial markets. This platform grants access to currencies, cryptocurrencies, stocks, futures, commodities, metals, and other assets. Hence, it is regarded as a versatile solution for traders.

Trading Terms and Platform Features  

The MT5 platform offers an extensive array of technical tools for market analysis. Its service enables users to personalize various chart types, apply indicators, and trigger scripts and advisors. The platform’s capabilities empower traders to scrutinize market conditions and make well-informed decisions.

MT5 provides support for automated trading options. The terminal comes equipped with pre-built robot variations. Users can seamlessly integrate advisors into the software without necessitating programming skills. This approach allows market participants to conduct round-the-clock trading without their direct involvement.

MT5 grants access to economic news and an events calendar. Users can keep track of significant global developments and their market-influencing announcements without the need to scour external resources.

The developers have considered traders who prefer mobile trading, creating a specialized mobile app. Metatrader5 offers fast order execution with minimal delays, crucial for volatile markets, and it supports deposits as low as 1 unit of the base currency. Spreads and commissions vary depending on the chosen broker.

How Scammers Deceive Traders on MT5

MetaTrader 5 is simply software. Its developers have obtained a license and ensure the quality of the service. Access is granted exclusively to legitimate brokerage firms, so using MT5 doesn’t inherently involve the risk of losses due to program malfunctions.

Nonetheless, fraudsters exploit the software’s strong reputation. They lack the capability to provide investors with the genuine platform version, hence programmers from unauthorized companies replicate it through code duplication. They assert the utilization of a plagiarized version (naturally, presenting it as the original) within the MetaTrader5 investment project, leveraging the positive software reviews, which serve as implicit promotion for the fraudulent project.

The altered platform lacks the features of the original. In reality, it’s a facsimile. The new software retains only the visual interface of MT5. Upon closer examination, it’s clear that the platform provides minimal functionality. Traders are offered a basic set of options: to buy, sell, configure trade volume, draw trend lines, and use a significantly reduced list of indicators.

Such platforms are manipulated by their developers. The platform’s algorithms are programmed to specific tasks, simulating trading activity and its outcomes. If the goal is to inspire clients to deposit more funds, trades are closed with profits. However, when traders are no longer seen as financial contributors, the market begins to move against them, ultimately leading to the complete loss of their accounts, purportedly due to incorrect market analysis.

These facades are employed by companies operating under the so-called “kitchen” financial scheme. Programmers must work diligently to create the illusion of price movement on the terminal screen.

Metatrader 5 – Investor Feedback

The MetaTrader 5 trading platform is user-friendly for the majority of traders. Traders who use its original version, provided by legitimate brokerage companies, leave positive reviews about their experience with the software. For instance, Daniil Budyansky, in his post, praises the platform’s straightforward interface, its advanced features, and its reliable performance.

MT5

Online, there are users who are familiar with the MT4 terminal, and they were not particularly impressed by its update to the MT5 version. These investors have no inclination to dive into the nuances of the new project, and they view the innovations as drawbacks. They express these sentiments in their MetaTrader 5 reviews. For example, Olga, in her comment, mentions the need for further exploration of the terminal and highlights the restriction on trading strategies with locks as a downside.

Метатрейдер 5 – отзывы о разводе

A distinctly negative tone characterizes the content of reviews about MetaTrader 5 from customers of fraudulent companies offering access to the supposedly legitimate platform as their primary trading platform.

Метатрейдер 5 отзыв

Maxim, in his commentary on the terminal’s performance, notices its sluggishness when switching timeframes. In reality, this serves as a warning signal indicating potential risks of deception.

Expert Opinion

When selecting a broker for trading activities, one critical factor is the range of trading platforms supported by the company. The success of your trades depends on the proper functioning of the trading terminal. A registered software license is an assurance that your transactions won’t be tampered with by the financial service provider.

The platform should provide analytical tools that traders are accustomed to using. It’s advantageous if you can customize the appearance of asset charts, apply indicators, and automate trading. Ideally, the platform’s interface should be user-friendly.

Final Verdict

MT5 is widely embraced by traders due to its functionality and advanced features. Despite the favorable reviews of the platform, the crucial decision lies not in selecting the platform itself but in choosing the right broker for collaboration. It’s important to consider their reputation, legal status, trading conditions, and security level.

Want to check a Forex broker for reliability? Learn about the risks of investing

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Forex Platform Rating: Best Forex Platforms 2024

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VertexFX

VertexFX is a trading platform developed by Hybrid Solutions, which has been occupying its niche in the world of financial technology and trading software since 2008. The terminal is advertised as an advanced tool for automated trading, promising users convenience and functionality. However, the software has developed a reputation as a platform surrounded by controversial opinions and doubts, especially in the context of technical failures and problems with widening spreads.

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SaxoTraderPRO

Saxo Bank is a fully licensed and regulated Danish bank that offers an online trading platform allowing you to invest in global financial markets. The bank provides access to a wide range of trading instruments, including stocks, ETFs, bonds, mutual funds, options, futures and other leveraged products. Saxo Bank stands out for its powerful trading platforms such as SaxoTraderGO and SaxoTraderPRO, which are available to all clients from a single account. The company is committed to offering a transparent pricing structure and a secure, regulated trading environment. As an active trader, you may qualify for lower commissions and additional benefits. A review of Saxo Bank showed that the company talks very nicely about itself and its services. In reality, we are dealing with another scam development.

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Tradespoon

Founders of the project Tradespoon claim to have created an innovative trading intelligence platform. The program is supposedly designed to help traders trade more efficiently and profitably, but in reality, scammers exploit the software to profit from newbies.

The service uses quantum scientific techniques to simplify the process of finding and managing high-quality, high-yield trading opportunities that are typically only available to elite investors. You need to understand that this is just part of the scam legend. They released useless software and beautifully packaged it in a legend about a scientific approach.

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LaraWithMe

Office LaraWithMe is an investment company offering to make money using artificial intelligence. Clients, having transferred money to trust management, will be able to withdraw a profit of 3% per day from the deposit amount. The robot system analyzes the market, selects and concludes the most profitable transactions. The program can run on any device – PC, smartphones, tablets. This is what the platform creators say. But a detailed analysis and analysis of the office will help you figure out how things really stand.

The site looks simple and cheap, like for an investment project. It is not possible to create a personal account there. Registration is done through the Telegram channel. Money is deposited through the same channel and the trading bot is connected. The client can only collect profits and bring new participants to the project. Looks too good to be true.

On the site LaraWithMe investments There is no information about how to withdraw money. Apparently this function is not provided. Nothing is known about the authors of the project. It is completely anonymous. There is no information about the legal registration of the project. The office does not have a license for investment activities.

The company hides the office address. Most likely, the office does not exist in reality. No phone numbers or email are provided for contacts. All communication with site employees is maintained only through Telegram. Anonymity indicates a scam. This is confirmed by users in reviews.

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ChartTrader

ChartTrader is one of the key programs offered by the brokerage company Interactive Brokers, designed for active traders who are looking for deep integration of analytical charts with instant order execution capabilities. This platform is ideal for traders seeking maximum efficiency and speed when dealing with financial markets, providing a powerful set of tools for analysis and trading directly from the chart.

Like all IB broker products, the terminal in question turned out to be a dud. Users actively write that the platform works with constant freezes and crashes. Developers ignore the importance of releasing software updates in a timely manner. Therefore, investors continue to lose money due to the fault of the company.

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ProRealTime

ProRealTime is an advanced trading platform designed for professional traders and investors. This software provides access to a wide range of financial instruments, including stocks, futures, options and currencies. Key features include in-depth market analysis, automated trading, and personalized charts. The developers’ statements are traditionally far from reality, because this is exclusively fraudulent software created for scam brokers.

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Latest Reviews

Irina

Just another scammer who only wants to take your money. I didn’t invest here and I don’t advise you to.

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Alexander

Another SCAM. At first glance, everything is profitable, but then the money pumping just begins. Nothing has been returned yet.

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Egor Krivosheev

There are no documents, no license, fake contacts. It's an ordinary scam, I don't recommend it.

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Alexei

The same scam as other such sites. Same conditions everywhere. It is clear that they are just clones to scam people. When will they be covered?

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Hope

I feel like they literally reached into my pocket and pulled everything out. They drained all my money and left me with nothing. These are ordinary scammers, not a broker.

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Nicole

I don’t recommend it, I was deceived here, and they took almost all the money I had saved for the house. Fraudsters!

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