Megalodon Trading Review (Signals & Indicators)

Megalodon Trading is a Forex trading service offering indicators, signals, TradingView scripts, automated trading, and more. Their main services appear to be the signals, and indicators, with the majority of the other products coming ass value additions. Today we will be providing a full review, and letting the community understand the pros and cons of each element of the service.

The company is owned by Bo Sukas, of SUKAS LTD. Bo has a YouTube channel with 466 subscribers where he frequently does videos on the products that he offers. He doesn’t provide us with a location of the head offices, which doesn’t come to much surprise as it seems he is a sole proprietor.

To get in touch with support, traders can use the live chat function on the website or email info@megalodontrading.com.

Megalodon Trading Review

The website is professional looking, but doesn’t describe the Megalodon Trading services in much detail. In order to get a better understanding of the products, traders are forwarded to TradingView for more expansive explanations of each script. However, this doesn’t include any information about the signals, trading course, or automated trader which are clearly important aspects of the service.

In order to qualify as a best Forex indicator, or best Forex signal provider, there needs to be a certain amount of detail. As it stands, this detail is not provided in the sales presentation.

Strategy

In terms of strategy, the Megalodon Trading vendor doesn’t give us anything specific about their signal service, but does give a breakdown of each TradingView indicator.

It’s likely that the signal service is based on the strategies and principles of the TradingView indicators, which Bo utilizes to offer signals. There are many of these indicators though which makes it very difficult to drill down to any one trading approach.

It’s clear to us that Bo does have a fair amount of trading knowledge, based on the descriptions of each indicator, but he fails to explain the overall methodology of the services. This is a common characteristic in indicator vendors, as you can see in our reviews of the Velocity Finder Neural Trader and Strike Trader Elite. Though, just because it’s common, doesn’t mean it should be expected. These vendors should always be trying to do more, to set themselves apart, and generate more business.

Analysis

• Type: Forex Indicator / Signal Service
• Price: $99-$2500
• Strategy: Undisclosed
• Pairs: Forex, Crypto & Stocks
• Signal Frequency: Undisclosed

The pricing structure of the Megalodon Trading service is quite strange as they offer a Pro version at a one time fee of $99, and a Pro+ version at a one time fee of $2500. Both of the services come with 12 TradingView indicators, 7 automated signals’ groups, and a 12 step intro to trading course. For an extra $2101, traders get the Pro+ plan which comes with a 1 on 1 strategy building call, and automated trader access.

Considering the price difference, it hardly seems worth considering the Pro+ plan. Especially because the vendor hasn’t even discussed the automated trader anywhere on the website, so we have no idea what type of value it would add.

Results

At the top of the Megalodon Trading website is a “monthly portfolio balance” chart which shows an increase from $20,000 to $80,000 from 3/1/2019, to 11/1/2019. This chart is not verified in any way, as it’s a simple illustration created in Google Docs.

This type of result is not good enough in 2020. All of the top signal providers, and automated trading providers all use Myfxbook or a similar statement sharing service to prove their products work.

There is nothing stopping this vendor from adding their accounts to Myfxbook and proving that they have been able to increase their account $60,000 in the course of half a year. Though, until we see this information, we have to assume that the vendor is providing fabricated trading results.

Conclusion

We appreciate that the Megalodon Trading is providing a service with so many different aspects, but want to see much more detail about each. We really don’t know what they are offering especially when it comes to the signal service and the automated trader. They also fail to provide any verified trading results which is a major drawback in 2020.

If you have anything you want to add to the review, please leave your questions and remarks below the article now.