MQL5 Review

1.139 • 29 REVIEWS
Updated: Feb 5, 2023 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.

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Established: 2000
Contact: Unknown
1.139 • 29 REVIEWS

Traders Reviews

, Australia,
Nov 29, 2013,

Found that most of the signal providers there are cowboys. Very few if any use stop losses and a signal rarely lasts more than a few months due to them doubling down almost always. I had the pleasure of finding this out with real money. After one week it was down 80% so I unsubscribed to find out I wouldn't get part of my monthly fee back either. I was told to read the rules and no where did it say no subscription will be refunded. So basically the signal provided had a thousand people pay $30. I'm not sure what mql5s cut is but I'm sure its big. I guess they spent the money before the month is over. Kind of like how my boss doesn't pay me prior the the months work I do because whats the chance I will go back? Kinda stupid. So yeah, signals are poor. Site admin are rude and lack good character and are now refusing to refund my other subscription fees to other signals after they banned me for asking for $20 back. Oh well its probably a good thing because there are plenty of other reputable PAMM account providers elsewhere returning more and risking less. I'd avoid this site if you wish to hold onto your capital and dignity.
Hungary, Hungary,
May 28, 2015,

Stay away far from this site. Absolute beginner "programmers". Though you define clearly what you need, everyone promises but no result. After asking an arbitration the work is cancelled on your favour, but some of the money is deducted from your deposit. This happened 3 times with me. Though site states no option even to evaluate the suppliers. So no way for your money back. It is locked, though i asked back. Nice business: more times a programmer fails the more income to the site owner. Bastards. Finally because i wanted spend my money rather then leaving it there bought 2 indicators. Absolute rubbish.
1 trader has found this review helpful
Evagoras Georgiou
Limassol, Cyprus,
Mar 1, 2016,

I paid to make me EAs and indicators to their freelance. AWAY guys, are amateurs. They write you an indicator for sale without to write whole the code. Speciffically they wrote me an indicator for the marketplace which i must have and the other indicators to work and the most funny they recognize that the freelancer has right just to not loose money.I understand that if somebody is really professional programmer will work in a big company and not there. ONE THINK I WILL SAY , AWAY FROM THIS SITE!!!.
, Netherlands,
May 20, 2016,

Highly fishy site. Also very strange there are no more reviews about this site on FPA.
This company sees all the code before people upload their EA's. So, they can pick code from people's EA's, rename it and do whatever they want. Also, in their user agreements they have some rules that are illegal by law. It pretty much states that they can do whatever they want and you will not sue the company owner, CEO or you name it. Well, they must seek some better legal advisors because making up rules as you please in some agreement does not make those made up rules legal nor legally binding. Otherwise people can just put down a lot of BS (like MQL) into their agreements. Too bad for MQL5 that it doesn't work that way.

If I get more BS from them I will ask my country authorities to look at their finances. And tell them the things I know.

Also, they have a non-refund policy. According to EU regulation they MUST. And even more important, a seller must abide by regulations of the country of the resident it is seling to. So, hiding in some off-shore tax haven, doesn't give ultimate protection. You can't get away with delivering buggy material and think a non-refund policy can protect you. Well, maybe a load of people before me bought that story. But I know my way around...

Hopefully, soon to be updated
1 trader has found this review helpful
Jan 9, 2017,
Registered user

Support in this site is terrible. After paying for the subscription, I did not get any help or any support no matter how many emails i sent them. Its not working.

Worst of all, it is written here that they are not giving refunds. This business pratice qualifies as a scam. I am beginning to lose hope that this will be fixed because I am not getting any support from MQL5. They just responded to the paypal messages when I asked for refund but no response in their website.
1 trader has found this review helpful
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