A Forex robot that sells at $2990 better have some high accuracy levels and verified results. The basis behind this On Control EA (Oncontrolea.com) review is the hyped profit claims they make. OncontrolEA claims to control the forex trading arena with an average gain of 2 percent in 2018. Considering you are paying nearly $3,000 for it, you would want more than 2 percent in ROI. And this is why we had to dig deeper and check out this robot.
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The disclaimer at the footer of their homepage claims this is the final solution for your peace of mind. With a solid guarantee of weekly profits in trading with gold, they hail this robot as a game-changer. The robot claims they have a strategy that works to take advantage of market conditions. Without explaining how the strategy works, the vendor wants investors to commit fully. There’s a problem with this platform as most of their accounts on myfxbook are closed.
We could sense some trouble with this platform as the website design is outdated. It looks like a remake of the year 2000 website. There’s not much to go on as the person who did this design was joking. All we see is a list of features with no images on the site. One would expect to find a featured image, but there’s none. We have a video from what looks like a paid actor. The person clearly doesn’t have a clue about trading. And they even make a video claiming the platform makes 95 percent profit.
There’s a 37-minute video that tries to explain how the robot works. On Control EA is making the bold statement of making 95 percent of trades work in your favor. And this is probably the reason why they have the most overpriced robot in the industry. The average monthly gain is 2 percent, which means that the quoted accuracy is inaccurate. These are scam tactics to try and get as many users to sign up with their bogus robots. We also found some more disturbing features; continue reading this post for more.
Information on who actually owns and runs the platform remains a mystery. And this is a problem we all have to face with online trading platforms. Any robot that does not willingly share their own details is a huge risk. One expects the team behind this platform would want some recognition for their high success rate. Since they post no details about their platform, we believe that this is an offshore led robot scam. Even their contact page leaves no returning address.
One would expect to find some consumer ratings of this robot. We could not find even a single comment from any member who won with this platform. And this leads us to believe that no one is interested in the platform. No one in their right mind will risk that much for an unknown robot at such a high buying price. It goes to show the level of maturity investors and traders have earned over the years. No one wants to buy an overpriced robot and only gets 2 percent of the ROI.
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What is shocking with this platform is that it has been around for over five years. Records from a trusted domain checker reveal the website went live on 1st January 2015. There has been only one change in their IP address over the past five years. The change is an indicator that there have been no major updates on the platform. Even ranking pages don’t have any information on the site’s metrics. We do believe that the website is a trap to lure naïve investors into buying the robot.
Even the name sounds off, on control, it should be in control. These are clearly offshore scam artists who want a chance to get easy money. The listed features include easy to understand analysis and operate with four and five digits after the decimal point. All these features can be seen on their dismal homepage. None of these features apply as the platform seems to have no one interested. The powerful management tool is another hoax to lead unsuspecting investors into signing up.
You can see this coming; On Control EA is not a valid robot and has no permit to operate. We found some Instagram screenshots of what seems to be the developer’s name. The platform phone number is located in the UK, and we couldn’t get through. We had to check with Forex regulators in regards to the license of the platform. It turns out that the platform has no business in the industry. The FCA has received several complaints in regards to this platform. With the complaints come money-back claims.
Once you buy the robot at an exorbitant price, there’s no way of recovering it. Even if you don’t use the robot, the vendor does not issue a money-back guarantee feature. And this means all liability is on the user. It’s why one must try and read the terms and conditions first before committing to a platform. These scam artists will bury investors with liability and claim you did not read their terms. And in most cases, their terms already indicate that you probably won’t make any profit with the robot.
On Control EA is furnishing users with a lifetime license of $2990. Users can also rent the platform for a month at $99, which is on limited access only. For three months, one can rent this platform for $299. Even with their rental subscription plan, the investor is paying a hefty price. These robots that over-charge investors are creating a bad name for the forex market. It’s why we must expose them and ensure the market has reliable trading tools. For MT5 users, the platform offers a robot for $2,100 for lifetime access.
The contact page says it all; the vendor does not want any interaction with users. What you get is a message board that gives you the option of leaving your queries. The phone number listed is ever busy, and no one picks it up once the call goes. With a platform that goes for nearly $3,000, they should offer live chat support. After sending a message asking more about their products, a response came three weeks later.
There are four payment methods to choose from when making purchases. These depository options include Neteller, PayPal, Skrill, and Wire Transfer. Before you purchase the platform, ask around whether there’s any dispute regarding the vendor. We do believe that PayPal does offer some insight into disputes regarding some merchants.
We do see that the vendor has six myfxbook accounts, of which three are closed. The three remaining accounts show a monthly average win of 2 percent. It’s not what one would expect with the claim of making a 95 percent accuracy level. These accounts also have one thing in common; the vendor owns them. We haven’t had an account associated with this platform from an individual trader. And the results are over two years old with a 1.6 profit factor.
On Control EA is a definite scam that has been around for a while. We are thankful traders are not signing up with the vendor.
We have no other option but to blacklist the use of this robot. No one on earth can recommend this platform. The price is too high, and the results are from the last two years.
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