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Sheer greed and lack of patience are what caused some traders to suffer crippling losses with the so-called Power FX ATM.
First off, this product is exaggerated so much that it’s even difficult to establish whether or not this vendor is honest.
The website of Power FX ATM claims that this Expert Advisor has a return on investment of between 100-600% each month.
But since these claims sounded ridiculous, the author decided to provide fake myfxbook result as ‘evidence’ that Power FX ATM works.
What you see on this site is nothing but perfect results that can never be achieved.
The equity growth curve has been climbing steadily, giving the impression that this expert advisor is quite good at spotting nice trade setups.
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But despite the ”good results”, it appears that Power FX ATM is only scamming users on the internet.
The author also claims that a trial version is available for anyone who wants to test things before committing their money.
As always, hyped products never go well with consumers. This expert advisor has had its name tarnished because it doesn’t do what the author says it will do.
Therefore, we decided to zero down to this particular EA to warn traders of the impending losses which they will most likely incur if they buy this EA.
The author praises this EA for its ability to extract Forex profits from the markets.
When we sought to find out how this EA works, we learned that it uses pattern trading, Market Psychology, and price movement to trade Forex.
Nevertheless, the author refused to go into details when asked about specific elements of this Expert Advisor.
Instead, they insisted that Power FX ATM uses a ‘secret algorithm’ to trade the markets.
Realize that this author was using vague statements to justify a robot with a bad reputation.
It’s a sign that this is yet another bogus robot with no real capability of making money in the Forex market.
The domain of this product (Powerfxatm.com) consists of nothing but hype.
The content on that website is geared towards spreading the false notion that Power FX ATM generates easy Forex money while you’re vacationing in Hawaii.
The author states with confidence that this EA has a win rate of 99%.
But this is exactly one of the lies which this author would like you to believe.
There is no silver bullet for extracting cash from the market. Achieving a win rate of 99% on a consistent basis is not realistic. You all know this.
The best Forex robots have been known to maintain a minimum of 70% and sometimes 90%. Losses are part of the game. But as long as you can preserve your capital because you’re making consistent profits anway, you’re good to go, right?
Power FX ATM is extremely dangerous for your account because the author says that you won’t lose any money yet that is not the reality on the ground.
The website also talks of building quick wealth with Forex trading, which is a red flag.
No one can say with a straight face that they have a secret Forex trading algorithm that does not suffer losing streaks.
As a professional trader, you should be seeking to limit your losses as opposed to eliminating them completely. If you sought to eliminate losses as a trader, you’d fall for the traps scammers have laid for you.
The promise of quick wealth and no losses in trading makes Power FX ATM look bad.
Dishonest EA authors are good at internet marketing. They know how to use convincing words which Forex novices love to hear and respond to.
In this case, the owner of Power FX ATM has been marketing it quite aggressively on social media and video-sharing sites like YouTube.
Most people who claim to have been scammed in this deal say they first encountered Power FX ATM on social media and thought it was a good product.
To lure victims into this phony deal, the author says that the product has a 15-day money back guarantee. But please note that this author does not honor this policy, meaning that once you send money to them, there is no way to recover it.
It seems that clients who ask for a refund from this vendor are always offered the option of getting a second EA.
However, we feel that this is a raw deal because the second EA is still this vendor’s product. This means that it can never perform any better than the first product. And if you accept this option, you won’t have different results since this author has a very bad reputation of scamming traders on the internet.
The truth is that Power FX ATM has never had any track record of success. Do not be fooled by false results which you see on their website. Those results cannot be simulated on a trading account with real money, so forget the promise of making quick wealth with Power FX ATM, let alone making any money.
Did you notice that this EA is among the most expensive in the market.
Buying a license costs a whooping $1,999, although there’s the option of subscribing on a monthly basis at $150.
Either way, you stand to lose money with Power FX ATM. Secondly, you risk even more money because this author recommends a few brokers which they insist that you should trade with.
Let’s say you decide to go with a one-time payment of $1,999, and then sign up with any of their ”recommended brokers”, do you think the loses would be too huge to recover from?
Do not be fooled with their fake money-back guarantee. This is a lot of money to lose.
Secondly, the vendor has been accused of running this business with impunity.
Most clients confess that the moment they paid for this product and raised questions thereafter, the author ignored them.
This author does not respond to complaints and criticism, and this shows that they are not any interested in clearing their names of the many accusations that have since been brought against them.
This is also a trait of fraudsters who fleece traders on the web before disappearing into oblivion. That’s the ultimate goal here.
Also, remember that you can’t just give your money to a stranger who sells a poorly rated product on the internet.
Power FX ATM is poorly rated for sure. But people still fall for it due to their carefully planned marketing campaign, which seems well-executed. You should never join the losers.
So, what exactly should you do now that we have found Power FX ATM to be highly suspicious?
Perhaps you should look for other genuine Forex robots that can yield results.
We are not interested in winning all trades. But we are certainly concerned with making profits, and that’s what these products have been doing all this while. Meanwhile, forget the scam that Power FX ATM is.
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