Onyx Scalper claims to be an invaluable asset for traders looking for high profits and minimal risk. This scalper system provides signals that allow your account to grow fast due to the accurate trade entries and exits it recommends. As an indicator with unrivaled algorithms gained from many years of experience, this trading tool assures successful results in Forex.
Is Investing in Onyx Scalper a Good Decision?
The scalping approach capitalizes on the minor price changes ensuring small but sure profits but you need to place orders at a frequent pace which is a difficult task when done manually. But this indicator assures profitable results with its approach. We analyzed the features, results, and support provided by this indicator. Our initial conclusion is that it is not a worthwhile system as it does not meet many of our important criteria for a reliable MT4 tool. Here are the reasons why we have arrived at this conclusion.
Karl Dittman is the developer of this ATS. He mentions learning from experts, resources, and books to create this trading system. We could not find a location address or phone contact for the developer. An online contact form is the only means of communication that we feel is inadequate. This lack of transparency makes us suspicious of the reliability of this indicator.
Key features in this ATS include an ‘effective’ trading algorithm, signals that help in big profits, identification of trend power, varying styles of trading, and the capability to work on all currency pairs. The interface is easy to navigate and users will not need to sit for hours on end to make the precise trades due to the precise signals that do not repaint.
Regarding the working mechanism, the developer explains that the indicator will provide precise signals that help you trade successfully. No mention of the strategy is found on the site except for the name of the product. The lack of transparency about the approach used further confirms our doubts about the trustworthiness of this FX indicator.
Different trading styles are provided for users from which they can pick the category they want based on the risk level they are comfortable with. To ensure users do not miss profitable trades at any time, the system includes alerts sent via the MT4 platform, email, and phone.
Besides revealing the features, working method, and price, the developer also offers tips and steps for successful returns.
Available for purchase at the current price of $147, this MT4 tool was originally sold at $395. Some of the chief features you get on buying this package are a trading algorithm, user guide, reliable signals, a real live account, and 24/7 email support. Free updates are offered for a lifetime to ensure the system adapts to the market changes.
The vendor offers a guarantee of refund for 30 days from the date of purchase if the user is not satisfied with the results. While the original price looks exorbitant, the discounted rate is affordable considering the payment is a one-time process.
Several trades are posted by the developer on the site. You can find some of them here.
From the trades above we can find details like the style of trading, signal info, optimal entry, and more. But these are not sufficient to know about the efficacy of the trade. We prefer a track record proven on sites like myfxbook, FXStat, etc. as the results divulge plenty of significant details. A trader can find info about stats like the drawdown value, the profit or loss, lot size, and more. Without furnishing authentic results, the developer is attempting to divert user attention with the various trade images. These do not give the real picture of how effective the system is.
A few testimonials from users are displayed on the site. All these are positive responses that indicate the product is effective. However, we do not trust reviews on the official site of a trading system as they are bound to be biased. This is the reason we prefer feedback from reputed third-party review portals like Forexpeacearmy, Trustpilot, etc. Without genuine feedback, we find that this is not a popular trading tool that traders prefer to use.
Onyx Scalper assures the best trading experience with its accurate and expertly calibrated system. But our analysis reveals that the claims of the developer are false. We found several downsides in this indicator. For starters, vendor transparency is absent concerning the trading approach and customer support options. Backtests and verified results are not furnished which makes it impossible to evaluate the MT4 tool’s effectiveness. While the discounted price offer is affordable, despite the refund offer we feel that this Forex trading tool is a complete scam. The lack of user feedback confirms our suspicions that this is not a trustworthy indicator.