Today we are reviewing Newgen Trades, a website that claims to have high performance trading systems which lead to shocking win rates and profits. They also claim to have worked with hundreds of happy customers and that their trading systems are so simple to use that even an 8-year old could use them to make money. Newgen Trades has two products which target binary options and Forex traders.
The two products which they are promoting on the sales page are Korex Forex indicator and binary options trading software called Korvo. If visitors subscribe to the site’s newsletter and would like to proceed to checkout one of these products, they will get a 15% discount. For that reason, these products are our center of focus for this review. We will let you know whether or not these two products are worth subscribing or even purchasing for the stated price.
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The sales page tells us that the people behind Newgen Trades are experienced because they have worked in the stocks and programming industry for over 15 years of experience. Of course there is a problem with this statement since it sounds odd if a group of stock traders have suddenly switched to Forex and Binary options trading when they should be concentrating on what they know best – stock trading.
Newgen Trades does not share their location with their audience. However, they have provided a phone number and an email address which can be used to contact their support. The developers behind these trading systems claim that the reasons we should sign up is because their trading systems are powerful, guaranteed and revolutionary. This makes us think that if they are going to stick to these claims, then they will have to provide some proof of performance in order to justify those claims.
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The company is also giving us some random numbers which show that they have attracted over 600 customers and have 15 years of experience. They are also promising us 100% satisfaction although we know that these things are not possible in trading.
The Korex indicator is described as a Forex trading system that can easily dominate currency pairs in 5 minutes or even less. They go ahead to give us some 3 reasons as to why we should consider getting a copy of this trading system. They describe the software as safe, sensational and accompanied by 24/7 customer support. These promises are supposed to make the trader believe that indeed Newgen Trades is giving something revolutionary.
After doing research on the working of this Forex indicator which is offered by Newgen Trades, we discovered that it works the same way an ordinary Forex indicator would work. Once the software has been installed on the MT4 platform, it can provide buy and sell signals based on the set parameters. Once traders purchase this indicator from Newgen Trades, they will get the template, a free PDF setup document, strategy and free updates. The developer claims that this is a no repaint Forex indicator. This is something hard to be persuaded about because most of these Forex indicators somehow work the same way.
The price of this Forex indicator is $80. However, the trading strategy or even the pairs it is optimized for was not revealed. Even the time frame is not known.
This vendor has a good sales page that is also very presentable. However, they omit some very important information. Newgen Trades vendor does not reveal to us their trading strategies or even the pairs that they have created this indicator for. This is a huge setback for them because we really need this information. Other features which they are promising include 30 day money back guarantee and Team Viewer installation which means that the developer will install the software for you if you have no idea how to do it.
One thing you should remember is that it can be very difficult to make the decision of purchasing any trading software if crucial information like trading strategy or methodology has not been revealed.
This Korex indicator does not have past performance to demonstrate its efficacy. They only provide us with screenshots of how the indicator is working. However, they are not giving us any hard proof of performance. They do not have a myfxbook account to showcase what this software has done in the past.
Whereas the site is quite professional in its presentation, we cannot understand the reason as to why they are missing out on the most important aspects of presenting a trading product. This is very common among most software developers and so it does not catch us by surprise. But it is indeed working against them.
So Newgen Trades is actually making two critical mistakes. They are not telling us their trading strategy and at the same time they are denying us evidence of successful trading with this Forex indicator.
In this day and era, every Forex robot developer must be able to share their trading results with the masses if they want their products to compete fairly with others in the market place. If they fail to do this, it simply means that they are not confident about the software in question. Newgen Trades is therefore a failed product based on these two mistakes which the developer has committed.
Newgen Trades must make a few adjustments to their sales page in order to convince us that their product is worth buying. If you have read this review, these adjustments should be pretty obvious. They need to describe how this Forex indicator works in addition to telling us how we can access past performance to see how good or bad the results are. Newgen Trades is therefore not instilling confidence in their audience. If you are really in need of a good Forex trading system, click this page for more info.
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