MQL5 Review

1.139 • 29 REVIEWS
Updated: Nov 7, 2022
MQL5.com

MQL5.com is community site and a marketplace for Metatrader 4 and 5 trading platform users and coders maintained by MetaQuotes software developers. It includes MQL5 market, MQL5 Indicators, MQL5 signals, community and more.

Please note that MetaQuotes is not a registered investment advisor, or broker it is a technology provider. Trading strategies, signals available at MQL5 marketplace belong to independent providers.

Related sites include Juvenille-Emperor.com.

Details

Established: 2000
Contact: Unknown
1.139 • 29 REVIEWS

Traders Reviews

N
france, France,
Oct 26, 2021,
Registered user

Worst support + Too many scams around

Service use: Live Length of use: over 1 Year
Traders be aware, MQL5 is one of the worst businesses I ever dealt with.

Have been scammed with a nice looking backtest EA that totally fails in real account (M5 Scalping by seller Vadym Velychkov:https://www.mql5.com/en/users/vadim89127).

Following that scam, I contacted the support and they just sent me away, no compensation, no refund, no exchange, nothing. These guys are just as bad as their sellers.

Do not trust them and better to run far away from this marketplace.

ALSO, due to this scam, I opened a forum sub for letting people know how bad this seller is, they just banned me.
1 trader has found this review helpful
F
NY, USA,
May 28, 2021,
Registered user

Stay away from MQL5.....

Service use: Other
I bought ea on MQL5,
because many people on MQL5 online gave this product 5 stars,
$399$499$599. I was cheated.
I felt wrong with 2.3 days.
I started to ask for refund. It was too far from the introduction.
MQL5 no refunds, also restricted my account.
The MQL5 website is more hateful than the seller.
2 traders have found this review helpful
F
VA, USA,
May 24, 2021,
Registered user

Indicators are sold and then pulled

Service use: Live Length of use: over 1 Year
I have purchased thousands of dollars of indicators from this site to try and find a system that can help me. You would think there would be some type of recourse in the name of customer service. But they do not respond. They send you to a board where others do the answering for the company.

Many of the indicators that I have purchased have been removed. I was never able to use all of my activations. For example, I paid 200 dollars for an indicator that had 8 remaining activations. When I try to download, I get a message that says;
""Unfortunately, "SUCH AND SUCH is unavailable
You can check out other products of SO AND SO:""

Often times they only give five activations and this is theft. If (as I have) you download the MT4 Demo from say, Osprey, and they only give you a 30 day free trial, the indicator activation is counted against you and you cannot retrieve it. The Vendor will lie to you and say "we are only allowed to give five activations.." But if this was true then other Vendors would not be able to follow the same rules. You have four left. Not Cool! You pay for the indicator and you should have it as long as you want.

Nevertheless, it is apparent that the website works out some sort of deal with the Vendor and cashes in on the commissions. The website provides the number of sells per month to encourage this theft. As I said, many of the vendors only give you five activations, but the more honest Vendors provide much greater than five (some up to 100) if they choose.

Many of the indicator reviews are frauds. Meaning, they sell an indicator and toss in a bonus if you leave a positive review on the site. This has hurt countless others from reading unbiased reviews.

Also, many of the indicators are simply free indicators with a bell or whistle added. It appears the MQL site does not do proper screening for the indicators efficiency. I have one that cannot be removed unless you close out the chart.

NO ACCONTABILITY for the theft that occurs on this site.
2 traders have found this review helpful
T
dELTA, Nigeria,
Dec 1, 2020,
Registered user

THE CUSTOMER SUPPORT/SERVICE DESK AT MQL5 IS THE WORST I HAVE EVER FACED

Service use: Live Length of use: 0-3 Months
YOU FUND YOUR ACCOUNT, YOUR PROFILE IS BLOCKED, AFTER GOING THRU THE RIGOURS TO SATISFY THE ADMIN, YOUR ACCOUNT IS UNLOCKED AND IMMEDIATELY YOU CLICK THE BUY BUTTON IT IS BLOCKED AGAIN.

YEUP IT HAPPENED TO ME.

MQL5 IS TOTALLY A DISGRACE.

MQL5 FOR HAVING SO MUCH CUSTOMERS SHOULD DO BETTER.

I WISH I COULD GIVE LESSER THAN A STAR REALLY...
2 traders have found this review helpful
A
Adelaide, Australia,
Oct 9, 2020,
Registered user

BIGGEST SCAMMER ON PLANET

Service use: Live Length of use: over 1 Year
BIGGEST SCAMMER ON PLANET

STAY AWAY > I HAVE BEEN TRADING SINCE 2006 AND FOUND NOT A SINGLE PRODUCT OUT THERE TO SUPPORT YOU.
3 traders have found this review helpful
R
singapore, Singapore,
Oct 6, 2020,
Registered user

scamer platform MQL5

Service use: Live Length of use: over 1 Year
I have been trying to do withdrawal from MQL5 for more than a year. Either no response or they will find all sort of excusese to reply me and then missing in action. It is a extremely low standard scammer platform. Please boycott this platform or u wont get back a single cents.
3 traders have found this review helpful
M
Marco
Rome, Italy,
Aug 24, 2020,
Guest

WORST CUSTOMER SERVICE EVER, INCAPABLE CODERS

Service use: Live Length of use: over 1 Year
The worst freelancing website ever, absurd fees, no customer service at all, you deposit some money there hoping that someone will act as intermediary between you and the (incompetent) coders, while they just don't do anything... you are on your own!! no reply to support tickets, just USELESS SERVICE, they are so ignorant that they even don't care about bad reviews! STAY AWAY!!!!!!!!!!
3 traders have found this review helpful
D
Florida, USA,
Jul 5, 2020,
Registered user

consider some other sources for your MT5 needs

Service use: Live
Once you give them money it's theirs , no refund , no money back guarantee, nothing , you can not even communicate with them , this whole operation stinks.......
2 traders have found this review helpful
P
Perth, Australia,
Jun 16, 2020,
Registered user

https://www.mql5.com/ = SCAMMERS!!!

Service use: Live Length of use: over 1 Year
SCAM WARNING SCAM WARNING!!!!
They are a scam site supporting other scam vendors.

I bought hundreds of dollars worth of EAs and Indicators and when I bought an EA that completely did not work I kept contacting them for support to get a refund but they couldnt care less. You could spend any amount of money on a faulty EA or indicator and they will do nothing.

Then I was contacted by a scam software vendor Hugo from
scalarfinance com selling Non Repainting Trading System =BS scam system,
and after reading many good reviews and checking they had a 30 day money back guarantee which is actually a NO MONEY BACK GUARANTEE for useless scam software I was banned from MQL5 until 2030 lol for trying to warn other traders in the forum not to get scammed from this vendor.

For honest traders there is no support but the scammers they support and promote them- disgraceful dishonest site.

Avoid these thieving scammers
2 traders have found this review helpful
C
Australia, Australia,
Jun 13, 2020,
Registered user

Terrible Customer Service

Service use: Live Length of use: over 1 Year
Mql5 have the worst customer service. I've had queries for a month and still no reply. They don't seem to care about anyone's concerns.
1 trader has found this review helpful
B
Nottingham, United Kingdom,
Apr 6, 2020,
Registered user

Scam

Service use: Live Length of use: over 1 Year
The website doesn't screen and test their products. EAs even though not proven are sold overpriced. Signals even if they only work for a month are still sold. There are signals that last longer but there is no way to copy them because they are delayed or slipped. It is the responsibility of the owner of the website to screen these products to protect the buyers. This website don't do any testing of their products. They left the testing to the poor buyers who every time loose their money to do the website's work. This is unethical. Some government agency or worldwide authority should investigate and ban this website. This is an international scam.
1 trader has found this review helpful
A
South Texas, USA,
Nov 1, 2019,
Registered user

Takes No Interest In The Welfare Of Purchasers

Service use: Live Length of use: over 1 Year
I just had to share my experience with MQL5 author/seller. I tried the EA and it worked well with decent profits on my MT4 Strategy Tester. The EA didn't have a rental option but wasn't priced too high either (between $300 and $400) so I purchased with high expectations and looking forward to some nice profits. Well after installing the Ea and waiting for it to show me what it was going to do, it became evident that it was not the same as the one in the Strategy Tester. The purchased one made exactly the same sell recommendation on a currency pair everyday at 11 pm. The one in the Strategy Tester would make good buy, sell, abstain recommendations that were profitable long-term. The purchased one was as useful as a compass that always points in the same direction... worthless. Some other EAs aren't much better. MQL5 is a plethora of EAs with no thought put into them to protect the user... many with no stop-loss, no spread filters, trade against the trend, martingale strategies, grid strategies, descriptions that make no sense due to poor language to English translations, authors abandoning software after a few weeks/days, and support turnaround in days or weeks. EAs often don't have adequate instructions on how to use such as best currency pairs for EA, time frames, whether inputs are in points or pips, minimum balance required to safely use EA, etcetera. And some require that you set GMT to broker time zone difference yourself, if you don't it doesn't function properly... I guess the authors weren't smart enough to program that into the EA themselves. This what you pay for and poor support. It wouldn't exist if people weren't supporting it financially. You'd almost think they were part of the MQL5 and brokers team and profiting from losing traders. Less expensive EAs seem like they're written by authors that barely graduated from a community college with minimal skills in programming in MetaQuotes Programming Language 4 (MQL4) with just classes in basic MQL4 and writing martingale and grid programs with moving averages for direction. More expensive ones seem better but are just marginally profitable and often blow your account sooner or later going into deep draw down, or they take weeks or months to produce a small profit. And little or no recourse to get a refund even if it appears to be a scam/fraud... I think they're a large part of the reason PayPal no longer wants anything to do with Forex transactions and I don't blame them. A person can spend thousand of dollars on EAs and not have one good one to show for all the expenses. The indicators aren't much better. Free ones are available that are nearly the same just not as nicely packaged. If you have a problem with MQL5 it won't be easy to find a page to get customer service. I think it mainly exists just to set up a deposit system to get your money and little else... excluding PayPal of course, which probably won't be part of the payment/deposit system much longer. I have some sympathy for some of the reviewers and empathy for others since I've experienced what some have experienced. The best thing that could happen is competition by a competent company that would put all of them out of business and in the streets jobless but I doubt that will happen.
2 traders have found this review helpful
M
Midwest, USA,
Oct 24, 2019,
Registered user

Absolutely the worst—I mean the worst—customer service

Service use: Other Length of use: 3-6 Months
Absolutely the worst—I mean the worst—customer service I've ever experienced to date. I assumed since they were connected with the MT platform (or so I think) the organization could be trusted without researching reviews. In short, I was wrong! Here is what happened:
- I hired a developer who did a terrible job. He would not follow our directions, implementing what he wanted, instead of what we requested. He was 2 months late. And, the quality of work was poor. The EA wasn't professionally created.
- I initiated a dispute resolution to cancel the project, and I requested a full refund.
- MQL5 split the amount escrowed, giving the developer 50% for nothing useable to us.
- After reviewing the developer's dispute rating and his comments regarding the resolution process, I begin thinking this is how he makes his money—creating something just to say he is working, then a dispute resolution is initiated, giving him a split. Now, I'm wondering if the developer is affiliated with MQL5.
- So, now the project is cancelled and I wanted to retrieve the remaining funds.
- it took months to receive the remaining balance due to their quirky and archaic requirements, and gross neglect. For example, I was refused a refund because I didn't have any earned money. Therefore, withdrawal options were not available. I don't even know what that is. It seems as though you have to be a seller AND get paid even though you are just buying.
- They said I could delete the account and request a refund. However, I was concerned if I deleted the account, what would happen to the funds
- After expressing my concern, they mentioned I could request a withdrawal...duh, that's what I've been doing.
- After months, they finally enabled the withdrawal option for me to withdraw the remaining funds.
- Upon asking them why it take so long for them to respond, trying to give them the benefit of the doubt, they deleted my account with no response.

YOU ARE AN UTTER FOOL IF YOU USE THIS COMPANY AFTER ALL OF THESE NEGATIVE REVIEWS!!!! Fiverr is way more professional and responsive than MQL5 could ever dream of being.
2 traders have found this review helpful
A
Sussex, United Kingdom,
Sep 10, 2019,
Registered user

Terrible customer service

Service use: Live Length of use: over 1 Year
I have been using MT4 over three years with some minor problems. Recently I have been blocked from their website without any warning of any kind. I am trying to find out why they have done this but they have failed to explain why.

I'm now looking at TC2000 and Ctrader, both appear to be far superior, so will dump MT4 for one or both platforms.

You could say that they have done me a favour now
2 traders have found this review helpful
M
Mike
Spijkenisse, Netherlands,
Mar 2, 2019,
Guest

Mql5 is a scam website

Don't get scammed, 99% of the ea's / signals are not worth it, you will buy a worthless ea or invest in a worthless signal and you will lose your money again and again. Mql5 support is indeed terrible. Everything on this site is not worth your money at all, neither it's worth your time / effort. Be smart, don't use this useless website.
2 traders have found this review helpful
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