Definitive Guide to Buying on MQL5 and Avoiding Scams (Bots and Indicators)
Definitive Guide to Buying on MQL5 and Avoiding Scams (Bots and Indicators)
Buying indicators or bots (EAs) on MQL5 can be safe, but only if you know how to properly evaluate the developer and validate the product. Many sellers use deceptive strategies, manipulated backtesting, and questionable signals to appear legitimate. This guide explains how to avoid scams and what you must verify before investing your money.
1. Analyze the Seller and Their Hidden History
Do not be fooled by badges, attractive logos, or a high number of followers.
The only thing that matters is the consistency of their actual work history.
A. Established Reputation and Account Age
Solid Track Record: Look for profiles with years of activity and a consistent production history.
A recently created profile with only one product and many sales is a red flag.
Rating Consistency (CRITICAL WARNING): Compare the developer’s overall profile rating with the individual rating of the specific bot or indicator.
If the overall profile rating is low, but the current product has 5 stars, be suspicious.
This often indicates the seller removed previous products with bad reviews — those negative ratings remain in the profile reputation, exposing a history of deception.
Transparency: A serious developer responds to reviews (including negative ones) and clearly explains the system logic.
A bad product needs marketing, not transparency.
B. The Product Speaks for Itself
Consistency: Has the product been updated regularly? Does it have multiple versions (showing improvement and support)?
Real Feedback: Check for detailed reviews about the specific product and its performance over time.
2. Backtesting Must Be Impeccable (Technical Rigor)
A reliable backtest is the most important proof of a bot’s robustness.
It must meet three fundamental requirements, without exception:
A. Testing Range: At Least 10 Years
A bot tested over only a few months or a single year is useless.
A robust system must survive multiple market conditions (trends, ranges, high volatility, and adverse events).
Do not trust the dates the seller decides to show.
If they only display the most recent year — usually a favorable period — be skeptical and run your own 10-year test (if data is available).
B. 99% Modeling Quality
If the Modeling Quality does not reach 99%, it is not reliable.
Anything lower allows manipulation or unrealistic conditions since the backtest is based on incomplete or low-grade data.
C. “Every Tick Based on Real Ticks” Mode
This must be the backtesting mode used in MT5.
It is the only way to simulate price movements and order execution with maximum precision.
| Backtesting Model | Description & Risk | Reliability |
|---|---|---|
| 1. Every tick based on real ticks (or 2. All Ticks) | Uses 100% real tick data. (The standard required for bots) | Maximum |
| OHLC on M1 (Open Prices) | Uses only four points per candle (Open, High, Low, Close). Calculations are mathematical, making the backtest unrealistic and unreliable. | Minimal |
D. What a Serious Backtest Must Show
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Coherent Risk: Maximum absolute drawdown must align with the strategy. A bot with 60–80% drawdown is a ticking time bomb.
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Logical Curve: The equity curve must be consistent, without unrealistic jumps. A perfectly smooth curve usually indicates overfitting (optimization for past data only).
3. Detecting Suspicious Signals and Testing Methods
A. Live Performance Signals
Request a Verified, Long-Term Signal: Signals should exist for months or years — not days.
Ask the seller for a link to a real, verified trading account.
Red Flags in Signals:
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High manual trading mixed with the bot’s automated trades
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Signals that grow for one month and then disappear
B. Your Own Testing and Renting
Own Testing (Strategy Tester):
Download the product’s trial version.
The main purpose is to run your own exhaustive backtests (10 years) using your historical data, confirming the seller’s claims.
Rent Before Buying:
If the backtest looks solid, rent the product for one month.
This lets you test the bot on a real account (with small capital) for 30 days before committing to a full purchase.
Verify in Your Own Environment:
Check how the bot handles your broker’s spread and slippage, and whether its trading logic truly matches the seller’s description.
Conclusion
Buying on MQL5 requires criteria, verification, and skepticism — not trust.
If you evaluate the product correctly, check genuine backtesting, and verify the consistency of live signals, you will avoid scams and find tools that genuinely add value to your trading.
