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Webcometrade Review: Webcom eTrade A Definite Scam?

Webcometrade Review: Webcom eTrade A Definite Scam?

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Webcom eTrade is a Forex trading education company and software vendor based in India. Webcometrade.com claims that its training is highly practical and is focused on both the Forex and international financial markets.

Unfortunately, Webcom eTrade is also known for scamming traders.  In this Webcom eTrade review, we will revisit past issues that this robot vendor has caused victims who mostly appear to be based in India.

They offer 3 different types of trading software. These include Trade Goldmine Analysis software, Trade Goldmine NFX (Robo) and Trade Goldmine Max or Gold Magic Robo software.

None of these robots appear to have fulfilled the purpose for which they were designed.

And according to consumer complaints and reviews on the internet, Webcom eTrade is primarily looking to scam traders by selling robots that don’t make any money.

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Webcom eTrade review

The website appears to be owned and operated by Mr. Sudhanshu Malhotra.

He claims that his idea of starting this Forex trading school was not to make money but to help his fellow countrymen gain success in the financial markets.

The website claims to stand for honesty and integrity in addition to excellent customer service to consumers who are between 18-68 years.

Webcom eTrade has also provided their phone number (+91) 07042194197/99 and a FAX number as well (+91) 41648711)

It’s a very strange thing that some people are still using FAX technology for communication in the era of Whatsapp and Telegram.

 

But anyway, there are more serious things to consider about this trading school.

Unfortunately, Webcom eTrade is also known for scamming traders.  In this Webcom eTrade review, we will revisit past issues that this robot vendor has caused victims who mostly appear to be based in India.

They offer 3 different types of trading software. These include Trade Goldmine Analysis software, Trade Goldmine NFX (Robo) and Trade Goldmine Max or Gold Magic Robo software.

None of these robots appear to have fulfilled the purpose for which they were designed.

And according to consumer complaints and reviews on the internet, Webcom eTrade is primarily looking to scam traders by selling robots that don’t make any money

We are concerned with the kind of trading software which Webcom eTrade offers to its customers. They also claim to offer trading education but no specific details were published on the site. In fact, this information is quite vague.

Webcom eTrade review – trading products

Trade Goldmine analysis software generates buy and sell signals for Forex pairs as well as in markets such as NSE, FNO, MCX and NCDEX.

Webcom e-Trade claims that Trade Goldmine Analysis is based on 26 technical parameters which includes momentum, trend, divergence, Volume, SMA, EMA, Direction, xAverage and so much more.

 

The accuracy rate is 80%. We are not sure why Web e-Trade is not providing third party verified results to prove that the software has 80% accuracy.

On the other hand, Trade Goldmine Robo appears to have been designed to exclusively work with the Indian financial markets. It’s an automated trading system. However, Webcom e-Trade provides generic information about the robot.

Gold Magic robo is described in broken English. We couldn’t understand what Webcom eTrade was trying to say here. However, the description is in 3 sentences and is generic in nature.

Price of each one of the 3 robots has not been revealed upfront but according to some customers, Webcom eTrade sells copies of their trading robots for $1500 each.

No history of trading performance for Webcom eTrade

We like it when developers are transparent with their customers. Unfortunately, Webcom eTrade is not transparent. In fact, they go contrary to what they promise on the sales page.

The accuracy rate is 80%. We are not sure why Web e-Trade is not providing third party verified results to prove that the software has 80% accuracy.

On the other hand, Trade Goldmine Robo appears to have been designed to exclusively work with the Indian financial markets. It’s an automated trading system. However, Webcom e-Trade provides generic information about the robot.

Gold Magic robo is described in broken English. We couldn’t understand what Webcom eTrade was trying to say here. However, the description is in 3 sentences and is generic in nature.

Price of each one of the 3 robots has not been revealed upfront but according to some customers, Webcom eTrade sells copies of their trading robots for $1500 each.

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With no trading history to view the performance of these robots, we would say these products are not worth buying.

Customer reviews

There are lots of complaints against this website. Most consumers say they are scammers. But of course there are one or two fake reviews which endorse the products they sell.

These reviews have obviously been sponsored by the crooks who run this operation. If not, they owner has literally published those reviews by pretending that they are clients of this website. Either way, we need to take note of these things are stay away from this website at all cost. This should be considered a red flag since the site is engaging in deceptive marketing practices to persuade traders.

Our best advice for you

This is the kind of trading school or software vendor you should avoid at all cost. Invest in proper trading products instead. If these folks are serious, we would like to see them fixing their broken English for a more professional website. This is important because serious clients cannot trust a website whose text make no sense. We would also like them to provide proof of trading performance before we can consider purchasing their products. This is always the bottom line. If there is no proof of trading performance, there’s no need to invest in that product. On the other hand, if this proof is available and the trading performance is outstanding, then definitely this is something to consider.

In summary, Webcom eTrade fails us in various areas and we are not ready to recommend a trading service provider like this one. If you have any experience with this service provider, please leave your review below this post.

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