Today I’m analyzing a new Forex indicator developed by a team that claims their software is so amazing, that even an 8-year-old kid could use it, Newgen Trades. This company currently offers 2 different trading systems, a binary options indicator called Korvo, and the main focus of this review, which is the Korex, Forex indicator. Traders can immediately receive a 15% coupon for each of these products, if they subscribe to the newsletter. In this review, I’ll tell you if it’s worthwhile subscribing, or even considering these products at all.
According to the sales page, this company consists “of expert stock traders and programmers with more than 15 years of experience in the financing trading industry.” I do find it a little odd, that a collection of stock traders would dive into the Forex and binary options industry, when their expertise is clearly in stocks. Regardless, there is no information about the location of the company, but I was able to find a phone number in doing some who is research. So, traders can either call 1.4159496022, or email firstname.lastname@example.org for support.
Newgen Trades Review
The developers give traders 3 reasons why they should sign up with Newgen Trades. They promise that their software is powerful, guaranteed and revolutionary. Below this are a handful of customer testimonials, and some statistics that tell us they have 528 clients worldwide, 15 years experience and 100% customer satisfaction. They have spelled customer satisfaction incorrectly, which is a little unprofessional, considering it is on the front page of their website.
As for the Korex indicator, it is advertised as a system that can “dominate currency pairs in 5 minutes or less.” Just like the original website, the developers give us 3 reasons why this Forex indicator is worth our time. They tell us that the software is sensational, safe and that their 24/7 support team is always available for anything traders might need.
The indicator itself works much like any other Forex indicator you’ve seen in the past. The software is placed on the your MetaTrader 4 chart, and then it provides traders with buy and sell signals with every trading parameter provided. After purchasing, traders get access to the no repaint indicator, the strategy, the template, a video setup guide, a PDF setup guide and free automated updates. This type of access is similar with other indicators I’ve recently reviewed like Forex Magic Scalper, Currensys and APA Zones.
- Type: Forex Indicator
- Price: $80
- Strategy: Undisclosed
- Timeframe: Undisclosed
- Pairs: Undisclosed
Despite having a full sales page, the Newgen Trades vendor is missing a lot of very important information. They do not disclose the trading strategy, the timeframe or the pairs that this indicator trades on. While there are some interesting bonuses, like team viewer installation, Forex beginner guides and 30 day return guarantee, this does not supersede the information we are really interested in finding out.
It’s very difficult to purchase any software, without a basic introduction to the trading strategy, or methodology.
Another misstep, is the lack of trading results provided by the Newgen Trades team for their Korex indicator. There are a couple of screenshots that illustrate how the software works, but there is no long-term trading statement, or use of statement sharing provider.
While the website is certainly professional in most aspects, outside of a few spelling mistakes, they are missing the most important aspects of any trading product. They are not providing us with real insight into their trading approach, and they are not providing us with any trading results whatsoever.
In 2018, every developer should be well aware, that if they want to sell a trading product, that they are going to need to provide trading results. With so many products in this market, it’s hard to consider signing up with one like this, that is clearly behind the times.
In order to consider any of the Newgen Trades products, the development team is going to have to make quite a few adjustments to their sales page. First of all, they’re going to have to tell us what pairs, and time frames they are trying to provide signals for. Secondly, they’re going to have to provide us with a more in-depth insight into their trading approach. Lastly, and the most important of all of these points, the vendor is going to have to provide us with real trading results. They should trade the software for a few months, upload the results to a statement sharing service, and prove to us that the system works. If the vendor can’t provide us with trading results, then I don’t see why we should trust the software with our accounts.
Thank you for reading this review, and please let me know if you have any experience with the Korex or Korvo product line.
Newgen Trades $80
- Trading Results
- Client Feedback
- Customer Support
Newgen Trades is a Forex indicator developer providing software at a reasonable rate.
Support responding to comments here
Some poor feedback