Webcometrade.com Review: Webcom E-Trade Scam Alert
Webcom E-Trade is a Forex trading education company and software vendor based in India. Webcometrade.com claims that its training is highly practical and is focused on both the Forex and international financial markets.
Unfortunately, Webcom eTrade is also known for scamming traders. In this Webcom eTrade review, we will revisit past issues that this robot vendor has caused victims who mostly appear to be based in India.
They offer 3 different types of trading software. These include Trade Goldmine Analysis software, Trade Goldmine NFX (Robo) and Trade Goldmine Max or Gold Magic Robo software.
None of these robots appear to have fulfilled the purpose for which they were designed.
And according to consumer complaints and reviews on the internet, Webcom eTrade is primarily looking to scam traders by selling robots that don’t make any money.
Good Forex trading products can be found here.
Webcom eTrade review
The website appears to be owned and operated by Mr. Sudhanshu Malhotra.
He claims that his idea of starting this Forex trading school was not to make money but to help his fellow countrymen gain success in the financial markets.
The website claims to stand for honesty and integrity in addition to excellent customer service to consumers who are between 18-68 years.
Webcom e-Trade has also provided their phone number (+91) 07042194197/99 and a FAX number as well (+91) 41648711).
It’s a very strange thing that some people are still using FAX technology for communication in the era of Whatsapp and Telegram.
But anyway, there are more serious things to consider about this trading school.
I’m concerned with the kind of trading software which Webcom eTrade offers to its customers. They also claim to offer trading education but no specific details were published on the site. In fact, this information is quite vague.
Webcom eTrade review – trading products
Trade Goldmine analysis software generates buy and sell signals for Forex pairs as well as in markets such as NSE, FNO, MCX and NCDEX.
Webcom e-Trade claims that Trade Goldmine Analysis is based on 26 technical parameters which includes momentum, trend, divergence, Volume, SMA, EMA, Direction, xAverage and so much more.
The accuracy rate is 80%. I’m not sure why Web e-Trade is not providing third party verified results to prove that the software has 80% accuracy.
On the other hand, Trade Goldmine Robo appears to have been designed to exclusively work with the Indian financial markets. It’s an automated trading system. However, Webcom e-Trade provides generic information about the robot.
Gold Magic robo is described in broken English. I couldn’t understand what Webcom eTrade was trying to say here. However, the description is in 3 sentences and is generic in nature.
Price of each one of the 3 robots has not been revealed upfront but according to some customers, Webcom eTrade sells copies of their trading robots for $1500 each.
No history of trading performance
I like it when developers are transparent with their customers. Unfortunately, Webcom eTrade is not transparent. In fact, they go contrary to what they promise on the sales page.
With no trading history to view the performance of these robots, I’d say these products are not worth buying.
Webcom eTrade customer reviews
There are lots of complaints against this website. Most consumers say they are scammers. But of course there are one or two fake reviews which endorse the products they sell.
This is the kind of trading school/software vendor you should avoid at all cost. Invest in proper trading products instead. If these folks are serious, I’d like to see them fixing their broken English for a more professional website. I’d also like them to provide proof of trading performance before we can consider purchasing their products.