Before you download a free MT4 trend indicator or any other free indicator for MetaTrader consider the possibility that the file will be corrupted or may include a trojan or other malicious code.
There are many free MT4 indicators offered to download online. It seems very fortunate that someone offers a free trend indicator without any charge and all it’s needed, is to click the download button. But is this really the case?
Free trend indicator for MT4 in exchange for your contact details
Most free trend indicators that are offered online by various websites are given in exchange for your contact details. In most cases, it is your name and email, but sometimes it is also your address.
Why would anyone who wants to offer something for free, feel the need to take your email address? The answer is obvious – to market related and additional products. Today’s marketers are very clever.
By knowing what you need and want, they can follow up with a series of emails that can gradually persuade you to buy a product or subscribe to a service. They can also do this on a continuous basis and have you spent a lot more than what you would pay initially for the trend indicator.
Why do I have to register with a broker to get a free trend indicator?
This is the most common way to get free trend indicators online. There are hundreds of websites that offer a free MT4 trend indicator, often packaged with additional indicators.
What’s the catch? Here it is – Before you download, they only require you to register with a broker and deposit money into your account. You receive a link or numerous links to various brokers that you can choose.
Then you are asked to send proof of your first deposit and off you go, you receive your free MT4 indicators. This model of advertising is very common.
When you follow that link to register with a broker and make your initial deposit, the people who are offering you the free MT4 trend indicator receive a very hefty commission from the broker you registered with. How much you ask? Anywhere between $100 – $300 per registration.
Unfortunately many indicators that are offered online in this manner are stolen from other providers. In a way, you are being tricked twice. You’re getting a stolen (hot) product and you register with a broker that you would most likely never register with, given a free choice and having made an analytical comparison.
Is the quality of a free trend indicator MT4 any good?
If those websites and companies are giving you a free product, it is not because it is good, but because they can sell you better and more expensive products later on.
Often, the main reason why a trend indicator is offered free of charge is that it lacks something that a paid version has. For example, it may lack a function to issue and send signals, or the indicator only works only on selected pairs. Certain functions might be limited in a free MT4 indicator.
Users quickly discover that the limited part of the free indicator is actually the most crucial thing for the indicator to work as desired and envisioned. Feeling this need, the only way they can continue using this free trend indicator is to actually buy or subscribe to the paid version.
Is there any technical support for a free trend indicator?
Free trend indicators offered online do not include any technical support. You got it for free, so don’t complain or ask questions. Although some installation and usage instructions could be included with your free download, this isn’t always the case.
Many users find out that the installation of the trend indicator does not work on their MT4 terminal or that the indicator looks completely different than what was advertised.
Paid MT4 indicators usually have technical support provided by the developers. Knowing how to use an indicator is crucial to using it the right way.
Will my free MT4 trend indicator contain malicious code?
You would be really surprised if you knew how many people download free software online from suspicious websites. Most trend indicators for MT4 that are offered online are delivered in a Zip file with .zip extension. A zip file is a compressed file which needs to be unzipped on your local computer.
Most users don’t know how to check the contents of the .zip file before unzipping it. Even if they knew, it would be almost impossible to see if the files were corrupted. Malicious files can be easily attached to files and activate soon after unzipping.
One of the easiest and most favourite methods of hackers or bad agents is to include trojans and tracking code in downloadable freebies on the Internet. Few months down the road your computer is hacked and you become a victim and never knowing how this came about. Well, in most cases the origin is in free downloadable files.
Final thoughts
The next time you decide to download a free MT4 trend indicator from a website, be careful. It is sometimes better to pay a small amount for the indicator than be exposed to all types of hidden scams.
We offer a paid MT4 trend indicator that costs a small fraction of what you would spent on recovering your computer or dealing with a rogue broker.
Paid indicators bought directly from the developers are much more secure and include full technical support.