TradeDots Review: Not What We’d Call A Reliable Signal Service
Gaining a competitive edge over other traders is what every Forex retail investor wishes to achieve. There’s many offers online and they all promise the same: ultimate trading tools that do all the work for you.
Now, some of these are confirmed as lucrative, while others are effectively just marketed vaporware. What group this firm belongs in is what you can learn about in our TradeDots review.
|Type of the company
|Warnings from Financial Regulators
|No official warnings
|Majority of clients are from
|United States, India, Canada, Germany
Legal Aspects of the Conduct
It’s quite confusing and insufficiently explained how this company operates and who runs it. Although you can find a friendly introductory article from the team, you can’t exactly find out who they are easily. These “exceptional experts” state to have an admirable amount of knowledge and over 10 years of experience of trading in various markets.
When we tried to learn about the firm running the website, the only name we found was Algo 724 Limited. Trying to find any details about this business online is a futile attempt. It is not clarified where the company is located or registered at all.
This lack of transparency is not something you see a reputable firm displaying. Although not necessarily needing a financial services license, if a company intends to attract customers, they should show more honesty.
RevenueBot, for example, engages in providing similar technological solutions, but is far more transparent about their entire business.
Fooling The Search Algorithms
There’s a bunch of alleged client testimonials on the tradedots.xyz website, and they all say how thrilled they are to be using their newly developed software.
The question here is, where are these TradeDots reviews even coming from? It’s not from TrustPilot, since we’ve checked and found exactly 2 comments on the platform.
More interestingly, the website footer states that “Testimonials featured on this website may not be indicative of the experiences of other clients or customers”.
One particular thing to point out here is not the number of testimonials, but the manner in which they were written. Search engines like Google recognize certain keywords to provide better results, and if someone were to type “trading”, “indicator” or “tradingview” they’d get tradedots.xyz in the results.
Social Networks Presence
With the huge volume of pages and users, moderating social networks is nearly impossible. This firm hosts their own pages on Medium, X and YouTube. The purpose of these sites is to downplay the risks involved with trading, and greatly oversell the accuracy of these trading signals.
TradeDots Telegram page is just one non-stop advertisement brainwashing routine. The content goes something like this: Wow, look at all the money I’ve made! Trading is easy and we’re all gonna get rich if we pay these dudes for their unbelievable solutions that let you cheat the system!
We fail to understand why anybody would expose themselves to this sort of treatment. If you’re looking to up your game in Forex trading, check out MarketGauge or some of our prop trading accounts instead.
The trading tools provided by this company are described as “your gateway to passive income and trading success”. How true that is, you’ll wonder, especially now that you know how vague their online presence is. We’re here to identify this passionately advertised technological wonder.
The TradeDots Indicator
In essence, the TradeDots market reversal signal is a Tradingview indicator based on the analysis of history for the price actions.
It is said to be a quantitative trading algorithm that enables traders to detect unexpected future market trends. That is claimed to be its preliminary function in providing edge to its users over other retail traders.
To expand their offer with ever more attractive features, the firm also introduces their signals. Two types you can benefit from are:
- Pivot Signals
- Breakout Signals
Both of these can be subscribed to or are already a part of the subscription plan. Pivot signals are used to label hidden price reversals with the usage of previously explained analysis of price history patterns. Breakout signals warn of a trend in action breaking the reversals.
These are nothing new or groundbreaking in the Forex world. The strategies advertised are indeed well-developed, tested and famous in the trading communities. These, however, should come with the additional warranty from the TradeDots experts. Some of the most notable ones to mention are:
- Elliott Waves
- Smart Money
- Order Flow
- Price Action
TradeDots Pricing: Subscription Plans
Since the subscription is rather expensive, this sort of a service is more accessible to those who have larger risk capital. On the other hand, these people are usually professional retailers who don’t need trading signals themselves.
If you’re a novice trader, maybe spending a certain amount of money on funding your account each month would be better than signing up with these folks. Take a look at these price tags:
- Monthly – $74,99 per month
- Quarterly – $59,99 per month
- Yearly – $52,49 per month
In a classic “But wait there’s more” marketing move, there’s also a Telegram chat bot. Unfortunately this is not free of charge, so you can expect it to burn a hole in your pocket the size of additional $29,49 each month.
7-Day Free Trial
The “free trial” is one of the oldest tricks in the book. Sure, you get a 7 day subscription for free, but first you need to enter your card details to access it.
After the 7 days have elapsed, you will be automatically charged a monthly subscription plan and access to the Telegram bot, which adds up to $104,48.
Why Not Consider Funded Trading?
Finding a reliable signal seller is becoming more and more difficult each day because of all the swindlers and charlatans.
If you’re somebody who’s starting out as a pro retailer, check out our Proprietary trading funded accounts. We offer excellent profit split conditions, and a potential $180,000 of funding for talented traders.
Start by booking a free Zoom call through a utility we’ve provided on our site, and launch your career to the moon!
What is TradeDots?
It’s a trading signal service with dubious quality and a shady legal background.
Is TradeDots Legit?
Considering everything we’ve learned so far about the company, it’s become evident that this is an illicit business with fraudulent intentions.
What is Proprietary Trading?
Prop firms provide funded trading accounts to retailers in return for a share of the overall profit. We offer up to $180,000 in funding to talented individuals.