Telegram Connector is available through a monthly subscription or a one-time payment. The software allows traders to copy trades from the signals providers on the Telegram channel. Traders can use multiple features that are built into the software to control risk and the copy trading process. Our article will discuss various elements of Telegram Connector and discuss whether you should stick to manual copy trading.
Telegram Connector trading strategy
To install the trading system and start the copy trading process, traders will have to install the software that the company provides on the PC. The user name and password will be available once you make a purchase and is to be entered into the software for activation. After that, enter the Telegram phone number for verification. The software will start where you can enter the details of the MetaTrader account. There is also an ex4 or ex5 file depending on the version of MetaTrader you choose. It has to be placed in the experts’ directory and on the respective charts.
The software works by reading the trades sent onto the Telegram channel and implementing them on the trading account. Traders can configure the risk management easily by adjusting the stop loss and take profit inputs. There are also options for taking the incoming order as a market or a pending one and setting up multiple take-profit levels.
Telegram Connector features
Telegram Connector has the following features:
- The software can read multiple languages on Telegram
- It can read the stop loss adjustments after executing the trade
- It has a signal analytics option where you can see how the different channels are performing
- You can manage risk and set an expiration time for your orders
- Traders can set custom stop loss and take profit options
Price
The software comes through a subscription or a one-time payment option. The basic subscription for one month will cost you $34.99, while the minimum one-time option comes at $299.99. Both are for two licenses.
Telegram Connector backtesting results
There are no backtesting results available as the service is a copy-trading algorithm.
Telegram Connector live trading results
The developer doesn’t share live trading results with us. It is possible to depict the copy-trading process by sharing a Telegram channel and the Myfxbook records. Inability to show the output is a poor practice.
Telegram Connector reputation
Customer reviews are available on TrustPilot, which gives the software a 4.2 rating for a total of 52 pieces of feedback. Users state that the software disconnects very often, and the support is very poor. They also say that the company is charging them more money than they actually show.
The developers do not share any information on their whereabouts and trading experience. The only way to contact them is through a phone number, email, and filling out a website form. They state their address as Strandpromenaden 10, 4600 Køge, Denmark.
Is Telegram Connector a good EA to invest in?
Telegram Connector does not share any live performances that can depict how the copy trading process might work for us. The developers also do not post any real examples of the trades that may highlight the system’s working. All the facts make it extremely hard to invest in the algorithm.
Telegram Connector review summary
| Strategy | 4/10 |
| Functionality and features | 5/10 |
| Trading results | 2/10 |
| Reliability | 3/10 |
| Pricing | 5/10 |
Conclusion
Automating the copy-trading process can be highly beneficial to your account. It can save you much time and hassle that comes with manual copying. Telegram Connector could have been a helpful software, but the downsides such as poor customer reviews and no transparency make it a wrong choice for traders.
