Telegram Connector is a trading software designed to make your work easier and quicker. It connects your MT4/MT5 account with the signal providers on Telegram. You need not wait for hours on end for your signals. This software removes all manual work by copying the signals from your Telegram providers directly to your account. The product boasts 1384 downloads, 1255 satisfied customers, and positive reviews.
Detailed Trade Copier Review
Only the bare minimum details of the trade copier are presented on the site. There are separate sections for the pricing, login, contact us, backtester, and videos, besides the home page. On the home page, the vendor provides info on the features, installation, pricing, and contact details. Developed by Morten Madsen, the company is based in Denmark. A location address and phone contact are provided, besides the online contact form for customer support.
The vendor provides a long list of features that include instant execution of signals, risk management with customized lot sizes or percentage of the balance, manage risks of each asset, and trade different instruments including cryptocurrencies, indices, and commodities besides FX. Settings that you can change include SL and TP, the type of order, and the expiration time on the pending orders. The vendor claims that you can control the risks better with the money management settings of this software.
Simple setup instructions are present for this software. After you pick a suitable plan, the vendor provides you with the steps you need to perform for installation via email. Once the setup is complete, you can receive all the signals from your Telegram providers to your MT4 account directly.
Telegram Connector Strategy Tests
The vendor does not provide info on the trading approach it uses for managing the trades. Other than mentioning an analytics module for knowing the performance of the signal generating channels we cannot see any other strategy-related info.
The developer has also created a backtester software, which is similar to the strategy tester you use in the MT4 platform. According to the vendor’s claims, the software can assess the efficacy of the signal service easily. But there are no examples of the backtesting results done with the software which is disappointing. The lack of backtests also makes us suspect that this is unreliable software.
Real Account Trading Results
No real and verified trading accounts are present for this trading tool. With real and live trading accounts you can gain insight into the trading approach and performance of the software. The absence of verified results raises a red flag.
To purchase this copier system, you can choose from any of the three plans the vendor provides. These include the basic plan costing $34.99 per month. The price includes 2 MT5/MT5 accounts, an unlimited number of signal groups and Telegram signals, lifetime support, and updates. With the VIP plan, you have to shell out $79.99 per month as a subscription and get access to 10 accounts with other features remaining the same. The third plan is the Pro subscription which costs $49.99 and comes with 5 MT4/MT5 accounts. No money-back-guarantee is present which makes the system look unreliable.
We found 52 reviews for this trading tool on the Trustpilot site with a rating of 4.2/5. Although the positive reviews outnumber the negative feedback, the reasons for the poor feedback confirm our suspicions regarding the product. Here are some of the reviews:
From the above feedback, we can see that other than the responsive customer support, the software and its settings are not of good quality. Some of the issues with the software include the need for manual adjusting of the trades as the program did not obey commands and there were missed trades.
Telegram Connector claims to provide a hassle-free trading experience and better profits with its trading software. From our evaluation of the features, performance, support, and user reviews we can see that this is not a reliable product.
The absence of verified results indicates the vendor is not transparent about the efficacy. From the user feedback, it is obvious that the software design is faulty and does not work effectively. The absence of a refund and other downsides mentioned above make this copier software unreliable.