The lack of regulation or the presence of poor regulation is a huge red flag. It means ChartNexus is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of ChartNexus, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Chartnexus.com is a website that was established in 2004. The hosting is provided by Alibaba and the website is safeguarded by Cloudflare and a privacy solution offered by contactprivacy.com. Based on SimilarWeb data, the website was established in Singapore and currently has a workforce of 11-50 individuals. The Finance Investing sector yields an annual income ranging from 15 to 25 million dollars.
The website holds a worldwide ranking of 410,473 and a specific ranking of 133 in the Finance Investing category in Thailand. During September 2023, the website garnered a total of 265,000 visitors hailing from many nations. It has a SEMrush Authority score of 32%, backed by more than 16 million backlinks from 21,000 referring domains.
ChartNexus is a comprehensive charting tool designed to cater to different market participants. It possesses vast expertise in both the corporate and retail industries. The platform exhibits versatility, accommodating stocks, FX, and cryptocurrencies, catering to a diverse array of consumers. ChartNexus has a substantial global user base of over 800,000 individuals, with a track record of training more than 20,000 traders. The platform provides a diverse range of goods and features that enhance the overall trading and investment experiences.
An outstanding feature is the mentorship program, which offers valuable trading insights using high-quality web-based software and mobile apps. Users gain advantages from receiving crucial market alerts and utilizing a stock ranking system, which helps simplify their trading choices. Education is a top priority for ChartNexus, and they prominently display testimonials that commend the straightforwardness and efficacy of their instruction.
ChartNexus also serves the investor relations needs of publicly traded firms by creating crucial financial websites, guaranteeing that important market data is easily accessible and transparent.
ChartNexus is a comprehensive financial market solution that equips traders and investors with the necessary tools and information for efficient market participation.
Who operates ChartNexus?
ChartNexus is a company that offers an accessible and cost-effective solution for stock charting and technical analysis. They hold the belief that engaging in stock investing and trading is a form of art and that the process may be enhanced via ongoing education, effective use of tools, and investigation of new ideas.
ChartNexus, their product, is provided at no cost to the worldwide investment community, showcasing a dedication to philanthropy and enabling easy access to vital resources. The organization adheres to principles such as honesty, integrity, innovation, and mutual respect.
While no concrete evidence of fraudulent activity exists, consumers may harbor apprehensions regarding the openness and dependability of the service due to the absence of explicit and comprehensive contact information. Although an email is available for communication, enhancing confidence could be achieved by providing more comprehensive information.
ChartNexus seeks to enhance the accessibility and enjoyment of technical analysis by providing a financial market charting solution. Their ideology is founded on the principles of perpetual enhancement and communal participation, as seen by their complimentary software that prioritizes ease of use and availability.
Therefore, before recommending a platform to others, it is essential to diligently perform research and evaluate it independently. Furthermore, it is crucial to emphasize any potential disadvantages linked to the platform and restate the customary warnings concerning the inherent hazards of trading in the stock market.
Disadvantages of ChartNexus
This platform primarily emphasizes charting and analysis, however, it may not offer the vast functionality present in more comprehensive trading platforms. The platform’s lack of extensive customization possibilities may impede customers from adapting it to their requirements. Although it is useful for tracking and evaluating equities, its usefulness may be reduced for traders engaged in alternative financial products like options or futures.
Due to its PC-based nature, accessibility may be constrained when compared to web-based or mobile alternatives. The software may have difficulties in managing extensive datasets, thus rendering it less suited for experienced traders. Furthermore, it does not provide support for MacOS, thus requiring the use of a Windows PC to access its functionalities.
key features of ChartNexus
- Charting: ChartNexus enables users to generate and examine financial charts using an extensive range of technical indicators plus charting tools.
- Technical Indicators: ChartNexus provides an extensive selection of market metrics, encompassing well-known indicators like average movements, the relative strength index (RSI), & Bollinger bands.
- Portfolio Management: ChartNexus offers a convenient portfolio management function that enables customers to monitor and control their investments from a centralized location.
- Notifications: ChartNexus incorporates an alert mechanism that informs users about significant market occurrences and modifications in their investment portfolio.
- Data feed: ChartNexus customers can import data from a range of sources including Yahoo Finance, Google Finance, and text files.
- Chart Customization: ChartNexus provides users with the ability to personalize the visual aspects of charts, such as modifying colors, line patterns, and chart formats.
- Backtesting: ChartNexus enables users to evaluate the effectiveness of their trading methods by analyzing previous data.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
When using ChartNexus for stock screening, exercise caution with the following configurations:
Moving Averages: While simple moving averages such as the 50-day and 200-day can offer valuable trend analysis, it is important not to depend completely on them.
Exercise caution when attempting to detect overbought or oversold levels using Bollinger Bands, as they may not consistently indicate reliable buying or selling opportunities.
The Relative Strength Index (RSI) is a technical indicator that can provide insights into overbought or oversold market circumstances. However, it is important to note that the RSI’s accuracy is not infallible. Values exceeding 70 or falling below 30 may not consistently result in anticipated effects.
Trading volume, although it can indicate investor interest, can not be completely relied upon for accurately identifying equities with substantial trading volume. Additional indicators, such as VWAP, may be necessary for a more precise identification.
MACD: While MACD can indicate possible opportunities for buying or selling, it is crucial to recognize its limitations and not rely primarily on this indicator.
Candlestick patterns, such as bullish hammers or bearish shooting stars, can serve as indicators of possible reversals, although their efficacy may vary.
These settings in ChartNexus serve as illustrations, however, it is imperative to bear in mind that no individual indicator or analytical technique is infallible. Exercise prudence and employ a variety of tools to make a well-informed conclusion. Furthermore, it is advisable to take into account the company’s underlying data and prevailing market conditions while formulating investment choices.
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like ChartNexus tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust ChartNexus reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of ChartNexus, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like ChartNexus enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “ChartNexus reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising ChartNexus.
You should always look out for consumer complaints. In the case of ChartNexus, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about ChartNexus? You can share your complaint in the comment section or submit an anonymous tip.
There is no evidence to suggest that ChartNexus or XPertTrader are fraudulent. ChartNexus is a bona fide organization, and it is plausible that the grievances were directed towards a distinct website, potentially an impostor site masquerading as XPertTrader. Although we discovered xperttrader.com, it is an antiquated domain established in 2004 and is improbable to be the website mentioned in the grievances.
Furthermore, xpertrader.com is linked to a contentious trading software and investment club business managed by Chris Pay. Doubts regarding its authenticity have arisen on online platforms such as Trade2Win. Users have reported being contacted by fraud squads regarding their investments with Chris Pay and Xpertrader.com. Its operations are currently under scrutiny and examination.
Conversely, a zone of uncertainty arises. There is widespread speculation over the involvement of an internet entity called ‘XPertTrader’ in questionable operations. The existence of a potentially deceitful entity resembling XPertTrader by ChartNexus introduces a level of intricacy to the scenario, rendering it difficult to pinpoint the exact target of the fraudulent claims.
Ultimately, our advice to potential users is unequivocal: exercise prudence. Amidst a multitude of fraudulent activities, it is crucial to engage in comprehensive investigation and use cautious judgment while selecting choices.
ChartNexus is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind ChartNexus can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust ChartNexus?
All the evidence suggests that ChartNexus is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Is ChartNexus a scam?
Can I withdraw money from ChartNexus?
Where is ChartNexus Located?
How do I get my money back from ChartNexus?
Launch a website/app with a generic name
A website or app with a generic name allows scammers to hide behind common Google search results. Marketing such names is easier as well.
Pay influencers & social media pages to promote the scheme
By getting influencers and social media pages to promote their brand, scammers make their shady company seem more legit than it actually is.
Send thousands of emails and make cold calls to potential victims
It’s common for scammers to buy the contact details of people and spam them through email, phone calls, social media messages and other means.
Make victims feel safe through “small wins”
Such small wins usually include a few payments transferred into the victim’s account. This makes them seem more legitimate.
Convince victims into investing large sums of money
Due to the small wins, the victim is now convinced that the company is legit. Now, the scammers try to manipulate the victim into giving them larger sums.
Disable withdrawals & take down the website/app
Once the scammers have recieved a signicant sum, they either stop responding or cite a technical error to freeze their victims’ funds.
Repeat the cycle
After making the money, the scam will shut down and the people running it will launch another and repeat the cycle.