MQL5 Market: A Scammers Paradise And Activations Scam

Don´t you think it is ridiculous having indicators deactivated when windows goes through updates?

They had the astute idea to bind the indicators also to your Windows version (if hardware wasn´t enough, plus you have to configure metatrader with your community credentials in order to install and use them, this is protection enough already). It is not every update sure, only the major ones, but they do happen 1 or 2 times per year. So imagine a site that AT LEAST have a couple of million users being forced to buy again indicators they already own? It generates millions of dollars of extra income to them. They never admitted that this was a bug.

And I discovered another bug that will deactivate your indicators: If you run metatrader as admin it will deactivate all your indicators.

A couple of days ago I discovered a new bug: I ran MT5 as admin and I noticed that all my indicators stopped working. At first I did not make the connection (in fact wasn´t even me but a forum user discovered it after I posted my logs). I thought it was because I had changed from demo to live account (it coincided with this action).

Anyways, I contacted service desk to "refund" one activation to my account for every indicator I had to reinstall and provided evidence of the bug, this was 4 days ago and they haven´t replied yet, and I don´t even think they will. Why would they? It is one activation closer in having to pay them again for stuff I already own.

Needless to say a couple of users there, including a moderator already jumped to try and defend them after I exposed them.

Metaquotes as usual is just hamstering to keep up their great scheme. A user (which is a programmer) even contacted me via PM there saying he had similar experiences, he had threads deleted and was also threatened after opening topics which clashed with metaquotes interests, his words were "they act like a cartel and intimidate people when they talk about things that clash with their interests and will try to silence you, their lack of honesty and transparency is frustrating".


Another thing that became clear to me a month ago or so is that they are also a paradise for scammers.

I had bought an indicator, and the indicator had a bug and didn´t work properly. The programmer did not admit that his precious indicator was faulty and I contacted metaquotes (again showing all evidence) asking for a refund and they just don´t give a shit to you, their reply is "no refunds, no matter what". So anyone can sell anything there and get away with your money.

Fortunately the programmer recognized the bug and fixed the indicator, but that was luck. In the case he didn´t I would be screwed. I told metaquotes that if the programmer hadn´t fixed the indicator I would have opened a dispute in paypal to get my money back. What they did? They threatened to close my account, and they also limited my account. I discovered the limitation when I tried to post a freelance job there.

So you can see the type of people you are dealing with there...

Here the thread link: https://www.mql5.com/en/forum/368840


Here an example of them hamstering and also trying to silence me:

They already started moping the thread there to fit their version of the story

I agree with you, that's why I come to your thread here because I've lost 2 of my purchased indicator activations only in a week due to windows reinstall and updates then I upset about their stubborn. Just don't buy any products from mql5.com before they fix this issue or you will be disappointed.

It's a shame you had this experience.
In my opinion, the whole MQL marketplace could use much better monitoring and thorough cleaning. There is just so much crap on there.
I can't stand the fact that they let sellers place their ridiculously over-optimized EAs on there without any inspection. Unknowing buyers fall into the trap of purchasing seemingly incredible EAs until they put it on a live account and their losses mount up.

I am sure that 99% of all the EAs you can purchase are total nonsense and will never earn any money on a live account (considering proper risk management, Martingales/grid systems will probably make money but have ZERO risk management). As a marketplace you cannot just sit and watch how all these scam EAs get sold, it's a swindle.

From such I popular platform I expect more due diligence and a much higher barrier to putting EAs and indicators up for sale. My suggestion would be to let any EA you want to put up for sale have a valid live track record of at least a few months. But that's just my opinion.