An indicator and signal provider, the Megalodon Trading (Megalodontrading.com) review, is here. The platform seems to be all over the trading world with different products and services. What remains to be their biggest challenge is communicating what they offer. Although they bring out the right first impression, a lot leaves to be desired. They provide a service with numerous aspects and fail to delve into the specifics. And this is what turning away most investors from signing up with the platform.
After landing on their homepage, there is a video presentation about automated trading. The voice of the presenter sounds American, and the video itself is from other platforms. It is clear to see that the video tries to depict a real trading platform but to no avail. The failure to offer a comprehensive guide to what they are selling is their downfall. Apart from that, the platform could have become a great success. And this begs the question, why are they not doing more to expose their services?
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Megalodon Trading is claiming to be developing tools for the TradingView platform. Interested parties get courses, pro indicators, and pro signals. They use the term ‘script’ to refer to their indicators. The platform is also offering courses in trading Crypto, Forex, and stocks. They seem to be all over the place, and yet the trading community just knows of TradingView platform. And this is the reason why we must be careful with such platforms with no full transparency.
They claim to have algorithms with a probability ratio of 76 percent. The platform claims to offer profitable signals and strategies for trading Crypto, Forex, and Stocks. Another product on their shelf is the automated trader. Although not much information is provided, this platform claims to offer this service. What caught our eye is the guarantee of having consistent profit margins. This is a clear sales pitch that is used to boost sign-ups. For those who don’t know, no expert or trading tool can guarantee a constant profit. The market prices are volatile, and making such bold statements is a transparent lie.
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There are two names which may be linked to one person. On their homepage, they claim Bugra is the founder of the platform. After looking for the person, we could see that there is a YouTube channel under the name Bo Sukas. The channel has barely 500 subscribers, and on the channel, they claim a company owns the product. Sukas Ltd is the company that is listed as the sole proprietor of the product. Where the company’s headquarters are located is not mentioned, which is a cause for concern. What seems to be the case is that Bo is the sole proprietor of this platform.
Information on the website claims that Bugra has been programming since the age of 13. He claims to have an undergraduate degree in economics and computer science. The degree is from the University of New Mexico, and he boasts of having over ten years of programming experience. Other praises he heaps on himself include creating consistent profitable investing planning with valuable trading algorithms. With such a prolific profile, one expects the owner to be recognized by at least one other developer. Frankly, no one seems to know him.
We see that the page has some testimonials of what seems to be satisfied clients. The two testimonials seem to be heaping praise on the indicators. Both of these are videos that could be from actual clients who won with the platform. Since they only claim to have won and provided no link to myfxbook, we are on the fence. The least they would have done is post a link on FX Blue or myfxbook. It would have been easier for third parties to verify whatever they say. All in all, these could be paid traders who are in it for the cheque.
With over ten years of programming history, there are a lot of discrepancies with their domain history. The information from a trusted domain checker shows the site went live on 23rd September 2018. From what we uncovered, IP history has had over 41 unique changes over 15 years. Does this mean that the platform was operating under another name? The domain background is a problem since the site is not being transparent. It seems that the developer bought this website to buy his online reputation.
The platform offers forex indicators and signals to interested traders. Prices for their products and services range from $95 to $2,500. The strategy of the platform remains undisclosed, which is another challenge for investors. They fail to mention the available pairs, which we believe are for Crypto, Forex, and Stocks. The platform also fails to disclose the signal frequency, which is another problem. It seems that with all their services, there appears to be vital information missing.
Megalodon Trading is far from having a fully licensed product, which means there is no insurance cover. Even though these products may come with a money-back guarantee, it is a risky move. Smart investors go for reliable products that will offer money-back guarantee features. Without these features, the platform is putting investors at risk. The developer might sell the website and give the product to another owner. With the history of the site changing owners, this would not be a surprise. And the result would be clients who get no insurance cover from the new owner.
Disclaimer at the footer of their homepage shows a different story. The platform admits the figures and results are used individually as examples. And this is proof that the platform is not willing to go for a license. They know that they would not pass the strict requirement to get a valid license. With products from all markets, the platform must make a regulatory deposit to protect investors. And this is a massive blow to the platform even if their signals have high accuracy.
It seems that Megalodon Trading is furnishing users with one package when it comes to indicators. The package is selling at $297, which is considered a high price for indicators. What naïve investors don’t realize is that online trading indicators have a set rate of around $250. The Megalodon Pro+ is what the vendor sells at this high price. They claim to offer signals via the Telegram channel with the top 10 commodity pairs. Users are also promised a calculator to help combine indicator data, price, and volume.
They do have a chat service where users are to leave their email and phone number. Interested parties should also leave their message and expect a response in three hours. They have provided a phone number that is not going through. The live chat button is not working except that Bugra leaves a Skype address. Users should be wary of Skype calls as the support team sends download links that have malware. Your personal information might be privy to unknown persons.
Megalodon Trading provides dozens of charts that are far from being verified. And this is a problem since no one can check these credentials. Without FX Blue or myfxbook links, these just become charts with no real data. As we earlier stated, the disclaimer at the footer of their homepage says it all. These are not valid data but made up facts that try and mimic trading examples. And this is where we draw the line as the developer shows a lack of proof of concept.
We have stated that Megalodon is providing numerous services with no bright aspect. No one knows what they offer in terms of indicators and signals. Without a verified trading result, it all seems to be sketchy.
It is not recommended that traders use this platform since there is no proof of concept.
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