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Welcome to Megalodon Trading review.
Megalodon Trading is a service that specializes in developing tools for the TradingView platform. They claim to provide Pro indicators, Pro signals and courses.
They refer to their indicators as scripts.
In addition to this, training in Forex, stocks and Crypto trading are also at the heart of their services.
The team at Megalodon Trading would like traders to believe that they’re offering pro setups with pro accuracy.
This is definitely an interesting service to review and so we’d like to discuss every element of the Megalodon Trading before traders can make any decision.
[alert-success]For beginners: Take advantage of these trading tools.[/alert-success]
Megalodon Trading review
The company behind Megalodon Trading is known as SUKAS LTD. Bo Sukas is the name of the person who runs the company.
I am not sure whether this is his real name or a pseudo of some sort.
It appears that this is a one-man army operation since the live chat is manned by Bo Sukas himself.
I must say that their website is aesthetically beautiful and professional-looking. However, it does not provide much details about their products and services.
In fact, users of this website are redirected to TradingView for more elaborate explanation of the scripts on sale.
On the same note, we feel that Megalodon Trading is not providing enough information about their signals, automated trader and courses.
The sales pitch appears to be skimming through rather than going into the details pertaining to their automated trading, signals and courses.
We don’t expect a professional-looking website like this one to omit such crucial details.
Also, for a service like Megalodon Trading to qualify in the list of the most recommended trading product providers, they must do more than presenting their products in an attractive sales page.
As for their indicators, we feel the vendor has gone a notch higher to provide a whitepaper that describes the various features and elements of their indicators.
This is quite rare in the Forex indicator marketplace.
We’ve reviewed services like FX Vortex but did not see details of an indicator being presented in a white paper. So this is definitely impressive.
Trading strategy of the Megalodon Trading indicators
They provide a breakdown of their TradingView indicators.
On the other hand, they’re not talking about their signals and automated trading methodology.
It looks like Bo Sukas is using the strategy of his TradingView indicators to deliver signals via Telegram. Also, he has many indicators on the sales page.
We find it hard to describe each of their indicators in details since there are 12 indicators in total.
With lack of sufficient information pertaining to trading strategy, one may only conclude that Megalodon Trading is not interested in going into strategy details but is more than willing to look professional by investing in aesthetics.
Bo’s introduction to his indicators also show that he possess some knowledge in trading. If this is the case, he should probably set himself apart from other software developers by providing an overview of their trading methodology.
Breakdown of the products and services
There are two packages for beginners and professionals.
The first package costs $99 and $2500. Both of these packages are for a lifetime.
They tell the community that Megalodon Trading is providing 7 automated signals group for Crypto, Forex and stocks in both packages.
In addition to this, both packages provide 12 steps introduction to trading course (have no idea what this means) and 12 scripts for TradingView.
The Pro+ package comes with additional features such as 1 on 1 strategy building call as well as automated trader access.
Megalodon Trading has not disclosed information about their automated trader. They’re just mentioning that they offering automated trading.
As you can see, these two plans have a wide price gap. One may wonder if there’s hardly any value in choosing the Pro+ plan.
This is because Megalodon Trading has not disclosed any information pertaining to their automated trader.
The rest of the features remain the same across both plans. So why the huge price gap?
The company has incorporated into their website what they refer to as “monthly portfolio balance’.
They show a growth of $60,000 in their “portfolio balance” between 3rd and 11th of January 2019.
The chart is just a sample that was created from Google doc. It does not give us an honest overview of the performance of Megalodon Trading.
It can be considered as unverified trading results.
In fact, signal and automated trading software providers should be using myfxbook platform to prove their performance.
The way Megalodon Trading is presenting their “results” in 2020 is unacceptable.
Myfxbook.com is free to use and nothing is stopping a vendor like Megalodon Trading from using that website to build credibility and confidence in their products.
Until verified trading results are added, we can assume that this service does not have proof of successful trading and is therefore presenting fabricated results.
Our first impression about this service was very positive.
Unfortunately, this has been ruined by the fact that Megalodon Trading is offering a service with so many aspects but not elaborating on the specifics.
Also, lack of verified trading performance is a setback here. If this vendor is sure that their portfolio has grown, they should provide proof to get the credibility they want.
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