For over a decade I have been involved in trading, and the MT4 platform was a lifesaver when it came to trading and many other things. The MT4/MT5 trading station is developed by Russian company MetaQuotes Software Corporation. After the giant success of MT4, MetaQuotes Software Corporation decided to discontinue the platform, particularly the 32-bit edition, and focus solely on developing the MT5 station, although many brokers and users worldwide still rely on the MT4 platform. Although it may not seem wise, this is indeed the case. The company also developed an MQL language for its trading stations with which you can develop automated robots that will, using an MT4/5 station, trade automatically for you based on a strategy that you programmed into the robot, which is called Expert Advisor, or EA for short.
The company info is available at their website, mql5.com.
On their website, they also have a freelancing service where programmers can develop an EA for you. But that’s when you have to be extremely careful.
Many people are used to the Western way of precision and efficiency, which is in total conflict with this Russian company and freelancing service, which is located here: https://www.mql5.com/en/job. Perhaps that westernized mentality is used against the people who lose money expecting something that was paid for.
The majority of people (about 95%), whom they call developers, are unable to finish any kind of job.
I would classify them as
– Idea hunters—people who will sweet-talk you into giving them your idea/project, and you will never hear from them again.
– Sellers—People who will get your project idea, then tell you how bad it is, and sell you another “great” EA. And they will act as lifesavers.
– Manipulators—So you give them a project to finish for you. Now that they’re in “charge,” they’ll try to convince you that you’re wrong, and you’ll answer Viber calls at night. They will attempt to intimidate you in every way, belittle your intelligence, and hurl insults, simply because they are unable to complete your project. If you disagree with them, they will try to trick you into ending up with a job. And with all flows of the MQL5.com website, they will get paid, and this goes on forever. And in the end, many people just simply give up and pay up just to get rid of the problem. MQL5.com will do nothing; why should they? They will get 10% payment anyway.
So it is impossible to do anything about it because MetaQuotes Software Corporation did not set any rules about anyone being a developer. According to their outlook, even a simple task will not be completed by 95%+ of developers. And how the MetaQuotes arbitration works: as a customer, when you file a complaint (request for arbitration), you will always pay 10% of the original price to MetaQuotes regardless of whether you get your EA finished or not. Meaning that customers always lose either 10% or 100%. Developers never lose anything, even if they do not do anything.
It happened to me that I originally ordered EA for $200, but because six developers did not finish my EA, I ended up paying $120 just to MetaQuotes Software Corporation. Last time I ordered EA, and after a month the developer did not give me a single line of code. It took them 3 months to return my payment, minus, of course, 10%. And just another example: I ordered a $300 EA program, and the developer produced an EA that had nothing to do with what I ordered. He won because apparently he did not understand my complaint; that was the reason, and a day later the case was closed in the developers favor as “due to inactivity???” So I am out of $300 and out of EA. The complaint was very basic: EA was opening 3 trades instead of two, as requested by the specification order. But they were constantly playing the game of “developer does not understand your complaint.” Subsequently, I discovered that the developer has a connection to the MQL5 mafia and could potentially be working for them.
Just another piece of information:
When choosing a developer for your project, you cannot see his/her history; it’s hidden.
CCustomer support is almost nonexistent. Most of the time, you will be interacting with poorly configured AI.
Yes, they ban people/customers who complain and also delete their comments.
EA sellers are using fake reviews to attract naive customers.
You must deposit money to hire a developer. Under any circumstance, you will never see this money ever again. So let’s say hypothetically after five developers do not finish your job, you will lose 50% of your original deposit, and if you try to take your money back, THEY WILL NOT GIVE IT TO YOU. So let’s say you don’t get your EA the way you want. You will lose 100% anyway, under any circumstance.
They are also selling EAs. Due to fake marketing and numerous fraudulent customer comments that create the illusion of a highly profitable system, many Westerners will be drawn to it. Once you figure out that you are out of, let’s say, $1000 and that EA does not even work (in many cases, customers would not be able to install it), it’s too late. They have all the psychology behind them to bully you back, and if you complain or post a bad comment, they will simply ban you or just delete your comments.
They will not allow you to close your account. I am not trying to contradict the above statements, but in my case, they are not letting me close my account. I think it is a power trip.
Maybe the company started good, but it turned into the scam of the earth. Do not give your hard-earned money there; there are so many better sites with better policies.
Check additional reviews here.
https://www.trustpilot.com/review/www.mql5.com
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