MT Forex Indicator Review: Does It Win or Lose?

MT Forex Indicator

MT Forex Indicator is a trading solution that was designed by My EA Academy. This brand is a part of SinryAdvice. They claimed that “Don’t trade without confirmation.” Is it a good FX tool to invest in? Let’s find out.

What is MT Forex Indicator?

The presentation includes some information explained: 

  • The system is an indicator – so, it’s semi-automatic software. 
  • We can run it on the MT4 platform. 
  • We are allowed to trade all available cross pairs and time frames from a single chart. 
  • The signals aren’t changed after providing. 
  • The system works the “best for scalping, day, and swing trading.”
  • The accuracy rate can be up to 86%.
  • The advisor will never be sold once again. 
  • The system is delivered with free updates when it’s needed. 
  • It works with market trends. 
  • We have alert and email notifications on the board. 
  • We can trade on a single real and demo account. 
  • We have to download a user guide and follow the steps. 
  • “MT forex is programmed to analyze the Trend, Price Action strategies, high and lows of the charts and many more factors in order to give signals that made the MT Forex Indicator have above 86% verified accuracy in its signals.”
  • There are over 4300 happy clients. We don’t believe in this. 

Official MT Forex Indicator website

The site looks ridiculously simple. There’s a little information provided. We’re sure that the devs must explain everything better. 

How can we use MT Forex Indicator?

  • The system should be attached to any chart we want. 
  • The terminal should be MT4. 
  • We have to follow the signal’s alerts and place orders manually.

Pricing & refund

MT Forex Indicator pricing
MT Forex Indicator pricing

We can purchase a system for $39 instead of $60. This price is okay, taking into account how much the similar solutions cost on the MQL5 forum. We can rely on a single real account license. The system is delivered with support and updates. 

Trading strategy

  • The system focuses on trend trading. 
  • It works with all pairs. 
  • We may use it with all available time frames. 

We couldn’t manage to find any sign of backtest reports published on the site. It’s a significant con because we have no idea how the system worked on the past data and what results it achieved. It’s important to understand what win rate and drawdowns we should expect to have on a real account. 

Trading results

MT Forex Indicator screenshot of trading activities
MT Forex Indicator screenshot of trading activities

We have no trading results revealed as well. The presentation includes some screenshots like this one where we can see how the system acts when it’s attached to the chart. This is not enough. We would like to see real trading results where we could find win rate, drawdowns, gains, profit factor, average win and loss, average trade length, and so on.  

What are the real customers saying about MT Forex Indicator?

Customer testimonials
Customer testimonials

The presentation includes several faceless testimonials that we can’t trust. There are no other testimonials about the system written on the web.  

Other notes

It’s very suspicious that the developers decided not to show trading results. There could be something wrong. 

Summary: is MT Forex Indicator a trustworthy system?

MT Forex Indicator
2.2 5 0 1
MT Forex Indicator is an indicator that informs us when it’s the right time to open a buy or sell order on the market. The presentation doesn’t include any sign of backtest reports or verified trading results. The same we have about testimonials. We can’t suggest you use it.
MT Forex Indicator is an indicator that informs us when it’s the right time to open a buy or sell order on the market. The presentation doesn’t include any sign of backtest reports or verified trading results. The same we have about testimonials. We can’t suggest you use it.
2.2 rating
2.2/5
Total Score
  • Strategy
    2.0 rating
    2/5 Bad
  • Features
    2.0 rating
    2/5 Bad
  • Trading Results
    3.0 rating
    3/5 Neutral
  • Reliability
    2.0 rating
    2/5 Bad
  • Pricing
    2.0 rating
    2/5 Bad

Like

  • Affordable pricing

Dislike

  • No risk or money management advice given
  • No settings explanations provided
  • No backtest reports provided
  • No trading results shown
  • No refund policy supported
  • Lack of verified people feedback
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0
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