FxDialogue.com Review

WARNING! MexcelTrader Makes Discrete Connection with Remote Server.

Hello Fellow Traders:

I bring you greetings and a stern warning. I posted some of this in another thread but realized that it deserves its own thread. There are LOTS of scams out there in Retail Forex and each of you need to be vigilant about protecting yourselves and your capital.

I purchased MexcelTrader believing what all FxDialogue customers believe, that I was purchasing a Stand Alone Software Product. I had no reason to believe that after I made my purchase using PayPal, that FxDialogue had any rights to my newly purchased Personal Property. When you buy Microsoft Excel, it belongs to you. You are the owner. You own the license. You own the rights to the exclusive use of that Stand Alone Software Application.

FxDialogue, pretends that it is selling you a Stand Alone Application with full rights of ownership after the purchase. They never tell you the truth, however. The truth is that they are selling you a Web Service. A service that FxDialogue will disconnect when you ask for Technical Support. When you ask to many deep questions about how MexcelTrader works and why it does not work as advertised, FxDialogue simply shuts down your access to MexcelTrader, by disabling your account! This is one of the proofs that you never purchased a Stand Alone Software Application as advertised.

The very fact that they can "Disable" your MexcelTrader "Account" is proof positive that you were sold a Web Service without being told as much. But, that's just the beginning of the problems with FxDialogue. There is a MUCH bigger problem with the way that company operates.

MexcelTrader Maintains Persistent Connection to Unknown Third-Party Webserver

Are you familiar with Windows Ports? Well, you need to be very familiar with how they work whenever you use MexcelTrader.

The FxDialogue MexcelTrader application makes an unauthorized back-end connection from your computer to a Third-Party server across the internet and delivers your MT4 Account Information to that server.

You don't buy MexcelTrader - you lease it as a service from FxDialogue. Each time you logon to MexcelTrader, it goes out on the internet and connects with an undisclosed third-party server to verify your version of MexcelTrader. However, after "verifying your version of the software" it maintains a persistent connection through an open port on your computer to that SAME machine on the internet that it used to "verify your version." But, there's so much more trouble here.

If you check the network connection from your computer to the computer MexcelTrader connect with, you will note that it not only maintains a persistent connection but it is also TRANSFERRING DATA OUTBOUND from your computer while you are logged into MexcelTrader.

MexcelTrader is not the Stand-Alone Application that you thought you were buying from FxDialogue. It is a service. And, the company DOES NOT tell you that before you buy. MexcelTrader maintains a persistent port connection to a server that belongs to a completely different company!

Why? Why would FxDialogue connect your purchased version of MexcelTrader to a third-party system and then maintain a persistent connection from your computer to a third-party machine, without telling you that's what they are doing?

MexcelTrader installs with a default configuration that connects to MT4 and then accesses your account information. That account information from your broker(s) is then brought into MexcelTrader through its Excel/MT4 API. Whenever you logon to MexcelTrader, FxDialogue can see your account details through the persistent port connection that it maintains to this third-party webserver.

FxDialogue refuses to provide technical support when you ask questions and the person behind the company (by the name of "Art") will disconnect your MexcelTrader connection, when you start asking too many questions. This is proof positive that you are not buying a Stand Alone Application as they tell you on their website.

There website says nothing about you buying a Service. MexcelTrader is never classified as a Web Service on the FxDialogue website. They sell you the idea that you are buying a Stand Alone Product, but then they turn around monitor your MT4 connection to MexcelTrader while maintaining a persistent port connection from your machine to a third-party machine on the internet. That's ABSURD!

To prove it - (if you own MexcelTrader which I strong suggest you don't) simply open at the Windows Resource Monitor (under Win7) and click on the Network tab while connected to MexcelTrader. You will see that 'Excel' maintains an Inbound and Outbound connection to a third-party machine that does not sit in the same domain as FxDialogue. This port connection remains open and active during the entire time your MexcelTrader account is loaded with your BROKER's details. It is like having a built-in back-door to your account information and account status.

Customers of FxDialogue were supposed to have a stand-alone application that connected Excel to MT4 on their hard-drive only. You were never told that a back-end internet connection from MexcelTrader (Excel) would be made to a remote third-party system. That was done without your knowledge.

Shame on FxDialogue. This is dangerous for any trader. Your entire MT4 account status is LIVE in MexcelTrader and should never be exposed to an unknown third-party system.

I've written numerous letters of complaint to "Art" at FxDialogue about the total lack of technical support and the unauthorized back-end internet connection that MexcelTrader maintains from my computer. I have complained about being sold a Web Service after being told that I was buying a Stand Alone Software license. When you purchase stand-alone software it becomes YOUR personal property. Therefore, it is my believe that FxDialogue, in disabling my access to MexcelTrader, has committed the criminal act of theft at a minimum.

I've contacted the London authorities, especially as FxDialogue is also a Retail Forex Broker. Imagine opening up an account with a Retail Forex Broker that was this dishonest and unethical. I would NEVER suggest that anyone even come remotely close to opening a trading account with such a fraudulent company. Do your homework, traders. Be wise and learn from the mistakes of others.

I spent more than one (1) full month migrating my automated trading system to MexcelTrader because of its ability to stream live historical data into Excel. I had to struggle with functionality issues from day one with absolutely no support from "Art" at FxDialogue. His excuse? That his company was short staffed and had difficulty keeping up with support demand. Yet, it is "Art" who seems to be the ONLY staff who responds to Presales and Postsales communications with FxDialogue.

MexcelTrader does not work as advertised and it bogs down Excel to the point of making Excel almost unusable. MexcelTrader does not handle CPU cycles, threads and windows memory very well at all. A quick look at the resource monitor while MexcelTrader is running tells shows you that it is MexcelTrader, not MT4, that hogs CPU and eats through Memory whenever you load MexcelTrader with MT4 indicators and history data. Shut down MexcelTrader and all of a sudden Excel runs quickly once again and both CPU and Memory stats go from being maxed out to relatively untapped - even with MT4 running.
So, MexcelTrader has serious threading issues.

When you start asking "Art" about all of this he gets very defensive. When you require him to respond to your email requests more frequently than once a month, he disables your MexcelTrader account, which is something you never knew that he could do, because you thought you had purchase a Stand-Alone Application that was now YOUR personal property. If it was truly your personal property and if YOU paid for it, then no one should have the ability to disconnect you from what you own.

This company is dishonest to say the least. How many other MT4 account details have they scammed? How many other MexcelTrader users have they taken? How many other MexcelTrader users have they lied to about being sold a Service? How many other MexcelTrader users have had their access to personal property blocked by a company that lied to them about what they were purchasing? How many other traders were as foolish as I was for even thinking about doing business with FxDialogue - scam artist of the year?

Beware and be safe.

Special Regards,
M346

@David Schwarz: Yes, you right. It is only one person dealing with the support of MexcelTrader. The reason it connects to a server is to make sure that only people who have paid for the application can use it and prevent abuse. There is a newer version which does not connect to a server and you can find it at www.mexceltrader.com

I had been trying to develop a software for some time to do this then came across this one. I was initially very excited as I thought it would solve all my problems. But not true,
It use it now mainly to download the data and create my strategies, I don't run them live because it hasn't worked for me yet in the time I have had it. It relies heavily on being connected to some server at the other end and this can go down at any time. Getting in touch with support is a pain as it is just one guy from what I have gathered. If he is around he may answer once, but you wont get hold of him with a second complaint.
It has the potential to be something good but the management here is the biggest downfall.

The client J.T. USA purchased our Mt4 Excel Plugin at a heavy discount and does not owe a trading account with us. His grief is regarding the plugin MexcelTrader.

He stands out as the only user we have come across for the last 3 years who submits extremely lengthy emails asking questions and looking for information on basically how the software was build. At a point it become obvious that he is either not happy with the application or he is looking for information not relevant to the use of the software but more as to how it was build. We decided to disconnect his account and issued him immediately with a refund. His illusion that the software belongs to him in the manner he would like to imagine is similar to believing that he owns his google account, the mt4 platform he is trading on with any broker or the bank account he uses. At any given moment he can be asked to stop using all 3 and the only thing he is entitled to is a refund. Which he instantly received in our case.

We would like to encourage similar clients like J.T. reading this thread to consider a competitor instead.

P.S. The reason that MexcelTrader constantly pings data back and forth to our server is to check your login credentials in order to avoid trial misuse which we often provide to people.

From the start, I had problems getting FxDialogue to reply to even the simplest of technical questions related to their product. They do not have an 800 number and their support (if you ever get any) is very shallow.

I would not recommend this company under any circumstances simply because they refuse to respond to technical support queries. There attitude seems to be that you should just go buy their product, so I did - believing that once I became a customer, I'd receive a higher level of attention. After paying for one of their products, the very first thing I encountered was the inability to login! I was blocked from using the very application that I had paid real money for, and no one at FxDialogue would respond via email.

Days later, I finally get an email from someone calling himself "Art," where he instructs me to resubmit technical support questions that I had already submitted before! What - they don't keep queries from customers or prospective customers? I had to troubleshoot the problem myself, before I was able to even login to the application (MexcelTrader). However, I still had outstanding technical support questions that to this very day, they REFUSE to respond to.

They simply IGNORE your emails for support - even after you pay for the product. That is completely unacceptable and I will consider their behavior as having NOT delivered the product they promised and forward my complaint to PayPal, in the hope that I receive a full refund for the purchase price.

The fact that FxDialogue now calls itself a Forex Broker, is scary! I can't possibly ever imagine sending real money to open a trading account to a company who can't even support its so-called flagship product. I can't possibly imagine needing to exist a position in the market when their MT4 platform "hangs" or "requotes" me to death, and not being able to get a solitary response from "Technical Support."

To FxDialogue:

If you are going to put yourself in business, then start acting like one by responding to your CUSTOMERS! Otherwise, when you take money from the public and your product DOES NOT WORK as advertised AND you fail to respond to legitimate requests for product support, then you are doing nothing more than STEALING money from people.

Start acting like a real software company and start providing the responsive support that your customers need. Otherwise, get out of the business - period.

I will hand this matter to the proper Authorities in the United States and in Europe (London), post haste.
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Folks, do yourselves a favor and stay away from FxDialogue, unless you enjoy being a paying customer who gets routinely ignored when you need support.

J.T.

About broker business.
Pro account description say "As low as 0 pips on Majors". However real EUDUSD of the pro account is 1.7 pips spreads and commission. It is hard to use this broker under current condition.

Keep looking forward to the future with no rating.

These guys have bin advertising heavily in Vietnam so I decided to try. Opened the account 3 weeks ago and so far they are ok. I am still learning so perhaps I do not have much experience. But I wanted to let everyone know becouse they offer an excel addon for MetaTrader, but will not develop the new features I want unless more people ask for them. So, try them out and ask them to implement more graphic design in their excel addon.

Traded with them for a month. So far so good. My personal favorite is the excel plugin for MetaTrader.

Suprised to find them under software.

Review Moderation Team Note: We were surprised to find out they are now a broker. :)

I have been using their application for a while but I saw today that they have recently become a broker. They are now offering a MetaTrader plugin for Excel as part of the a live account.

I have used their application but I dont have experience with them as a broker.

You might want to move these guys to the Broker section. They have recently become brokers. Havent tried them so, I cant comment. But, I have used their software for a few months now and I find it very helpful - I really think these guys are geniouses for having created something like MexcelTrader. I would however like to see that application expand to include the ability to connect to multiple MT4 brokers at the same time! I have asked them to do that but they will need more people asking for that feature before they implement it. So, if anyone is using their MexcelTrader and would like to see it connect to multiple MT4s, please vote here or send them an email.

KingOfPips