Asking questions before purchasing expert advisor is the key to get a good product. I will try to summarize the most important questions you must ask to the forex sellers before purchasing EA or indicator from them. Do not underestimate these questions because they are very important.
I have realized that asking questions to the sellers will show their behaviour and as you know this is important point to understand if you will get good support. Many of the forex robot's and indicator's sellers have websites/blog/social media etc. and they are full with good words about their forex robots/indicators etc. However, 90% of the text displayed on the websites are absolute lie! So, I think it is important to have an article exactly for such thing.
The first question you have to ask to the forex seller is:
"What strategy your expert advisor/indicator follows?".
I am pretty sure that they will think twice about this question because in the first place they don't understand their robot's fully. I say this, because many of the traders copy and paste some codes and in such situation they will answer to your question as:
This is is business secret and we cannot reveal it. Sorry
This is bullshit. I don't think a developer cannot explain to the buyer/forex trader how their robot or indicator works in a way the trader to have good understanding. This means they don't understand the basics of the trading or their strategies are so simple that they don't worth it at all. In most cases, the sellers will start behaving rudely. If you meet such seller don't waste your time, this guy does not worth even 60 seconds nor dollars/euro etc for their software.
If you get clear explanation about the forex robot's or indicator's strategy this is very big plus for this seller.
Another very important question is:
Does your robot have LIVE account in myfxbook or fxblue?
I am sorry to tell you again but if they don't provide you up-to-date myfxbook/fxblue account please don't waste your time. I mean it. You are in totally wrong place. Even don't check any backtests. Doesn't worth it. Having fully verified myfxbook accounts up-to-date this is second big plus for this seller. This means this guy really tries to develop successful expert advisors and indicators.
Another question you have to ask is:
Why should I buy your forex robot or indicator? What makes your forex robot special or better than other forex robots?
This 3rd question will start bothering the seller and they will start thinking about political answers or they will start replying in rude attitude. However, don't stop with the questions. Next question you have to ask is:
Does your robot compatible with all the brokers?
If you get answers in such way "Yes/No", then start worrying about this seller. This developer does not help you at all.They looks at you as a buyer who will pay and then you can do whatever you want, they won't care about you. Never ever accept answers such as "yes/no". This is not quiz and you are going to pay money, not $1 or $10 but much more $100 or more. I don't think sellers who do not answer your question with care will server and support you properly.
The questions above are some of the most important once. Please do not underestimate these questions, I guarantee you will have much better understanding to the seller and their EA. Anyway. Below, I will add some more questions which you should ask, maybe they will be helpful for you:
1. Is your robot compatible with NFA rules?
2. How many demo accounts is possible to activate for example for 1 license? 2 license ?
3. Can you tell us more about the strategy of your EA?
4. Do you offer the updates for free? Or it is required to pay for the new releases? If yes, Is the price will stay the same?
5. Is it compatible with all the brokers and account types?
6. Is there anything specific things that we should know?
7. Does the support team available 24/7? What does mean for you 24/7? Live chat or by email?
8. Do you offer money back guarantee? If yes, can you tell us what are the conditions?
9. Do the customer will receive a user guide? How to install and activate the robot and so on...
Actually there are many other questions to ask before purchasing any expert advisor or indicator but these are good to start.
The first 3 questions I listed above are something like "core questions" you have to ask and request for 100%. You can just copy and paste them and wait for the reply. Never act in hurry and wait for reply and try to understand if you will get support help properly. I hope you are going to pay attention for such details because they will save you a lot of money and nerves in the future.
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