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Trader on Chart Review: Is traderonchart.com Scam?

Trader on Chart Review: Is traderonchart.com Scam?

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Tradeonchart.com is a position size calculator and MT4 trade panel that claims to aid trade easily from the chart on MT4 desktop. Other claims state businesses performed using traderonchart.com are ten times faster in one click. The upper hand with this trade panel is that it calculates launch sizes automatically. The calculation is done based on preset stop loss, take profit, and money management settings.

To benefit from TOC, one should attach the TOC to an MT4 chart. The installation is an easy process that takes place in less than 5 minutes. On the website, there is a visual aid snippet on how to commence the trading made available.

Secondly, one is supposed to choose risk by the preset desired position size, stop loss, take profit, and much more. A privilege that comes along with this trade panel; it allows for lot size to be set in terms of percentages, fixed lots, or money.

There is also the provision of a snippet on the same to aid new traders to undertake the process effortlessly.

Thirdly, one is supposed to commence, now just trading. This simple process is made possible in one click by clicking on the buy or sell buttons. The vendor provides an email for customers to utilize whenever they felt the urge to get in touch with him. The email provided is [email protected] There is a 30-day satisfaction guarantee, and one can cancel whenever they wish.

This review is going to take a much more in-depth look into the nitty-gritty workings of this trade panel. However, if you wish to consult with legitimate and reliable Forex indicators immediately, that’s the way to go!

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Investment plans

Three plans are made available to a trader wishing to apply these services. These plans are; The monthly plan, Annual plan, and 4-year plan. The monthly list goes for 15 euros per month, coming along with relentless trickling updates.  One is supposed to pay every month. However, they caught our attention after we tried paying, and we were automatically redirected to another website.

Trader on Chart Review, Traderonchart.com Platform

Amongst the conditions made available on the website is automatically enabled auto-renewal of subscription; this meant that the vendor could charge credit cards without necessarily consulting the owners. The annual plan assimilates the monthly plan; however, one is supposed to bill annually. The yearly fee is 120 euros.

Finally, the final plan is the four-year plan, which goes for 240 euros. All the prices are VAT exclusive; the vendor also claims that they accept customers globally. In an attempt to aid the latter property, they provide for currency exchange platforms, which enables traders to change the currency from one form to the desired form. An additional 30-day money-back guarantee is available.

Trading features

Some of the features that you are bound to encounter when in a contract with this vendor are as follows;

Auto calculates position size. This platform claims to have this automated position size calculator, and this means that if it trader selects 1% per trade, the trade panel sets the exact lot size so that, in case of stop-loss is hit by trade, strictly less than 1% in losses are encountered.

The other property is that it enables a trader to trade easily from the MT4 trade chart. It helps open trades faster in just a single click. Moreover, it claims to permit ease of catching price breakout in both direction orientations.

Hence it allows the creation of straddle pending orders, and one can place buy stop and sell stop in a single click; must set the wanted pip length and other details, and the trade panel performs the rest for the trader. This property makes it suitable for amateur and breakout traders.

The next property is said, smart break even, and this helps cover swaps and commission expenses automatically. Then they claimed that regular interval even is not efficient to cover the costs if one decides to close it at open price.

The other detriment is the broker commission and opposing swap fees. It allows for stop loss to be set at an exact price level so that even if the market comes back at a trader to close the trade, some profits will still be banked.

There is the trade that it operates on MacBook, through windows via parallels. It allows one to connect that trade panel to MT4 while using parallels for Mac, enjoyably. They provide well-simplified guidelines to aid one benefit from this privilege.

Intentional advertisements techniques

See, the vendor has noticed that most people tend to have a certain sloppiness and lag towards reading. Consequently, he invests in several videos: with the first video being on how to install the TOC 1.8.3 and use it on MT 4. This video lasts for 19 minutes and can be found on YouTube. He also provides another 23-minute video that offers various types of demos and tutorials on how to trade with a risk of 2%  per trade.

Domain

This road panel is registered under the domain traderonchart.com. It was created on the 9th of August 2019 and seemed to have already expired. The domain is only one year, one week old, and it’s a domain having the “.com” extension and an estimated worth of $8.95, and a daily income of 0.15 dollars.

It possesses a Google backlink of 16,800 and an IP address of 184.168.131.241 US. This domain seems to have affiliations to Fxmagnetic. com. Belonging to one, Rimantas, this vendor seems to be the only person who gives online reviews on this trade panel.

Security features  end rankings

This trade panel has no HTTPS security feature. It means that once credit card credentials are keyed in a while still on the website. The data is prone to multiple online criminals and bullies. It falsely also claims it has estimated traffic of 30,186, daily traffic of 181,116, and daily value of $260,640. However, it is hosted by the Liquid web.

Important accessory features end online feedback

We noted that this trade panel provides no trader chat free trial. It should at least make available a demo account, where traders are supposed to trade with unreal money until they gained the prerequisite experience: that leads to the successful fruition of trades.

Interviews and online feedback that we came across were very minimal. Most of it claimed that it had a 4.4 rank out of the possible five-star rank. However, the FPA rank displays otherwise. Another critical factor is the price factor. It should be promptly addressed and attempts to lower the price less than $2000 should be the next moves in the market.

Final verdict

As much as this trade panel possesses claims on several essential, provisional, characteristics, they do not fully persuade us that they are legitimately operating in the market. Some loopholes that stress the public image need proper addressing, or else the occurrence will be it being deemed as a scam.

On the contrary, there’s no need to wait till there is the provision of backup data to validate claims made upon fishy websites you bump into once in a while or several. By merely consulting the legitimate Forex signal providers, one is redeemed from unnecessary emotional turmoil and the hustle and bustle of trying to process chargeback because of scamming.

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