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Autochartist Review: A Flamboyant Scam?

Autochartist Review: A Flamboyant Scam?

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Estimated reading time: 6 minutes

Autochartist.com is one of those controversial sites on the internet. It’s a site that has been characterized by obscurity as many people do not know who owns the site and whether or not they can produce the results as claimed on their website.

It appears that Autochartist is just a webpage where Forex traders come to download various Forex software for solving problems of different nature in the Forex market. There is nothing more than this other than having the challenge to download the said indicators.

Upon close investigations, we discovered that Autochartist website was registered way back in 2002. The domain is set to expire in 2020. This would mean that the site is over a decade old.

The owner of the site isn’t known yet. They were not willing to disclose their identity on Who.is for reasons that are best known to them.

However, the site is registered with the address 12808 Gran Bay Parkway West which is in the US in the state of FL.

autochartist review

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Note: If your language is not English, you should use the language dropdown menu at the top right hand side of their page to select your language.

These details can be seen on who.is simply because it’s the standard of displaying information on this site even when the owner doesn’t wish to disclose their identities.

It bothers us very much when people offer some sort of financial advice and at the same time are too cautious to reveal their names.

Autochartist is one such website with an owner who is too cautious to disclose who they are. But of course they are very much willing to tell you how great they are in Forex trading and also how they will change your life as a trader if you consume any of their Forex trading tools.

Do we agree with Autochartist? Absolutely not. Can we recommend it the same way we’ve always done with other products in the Forex market? Not at all.

So this review will help shade light on Autochartist and their offers. If you have always wanted to learn about them, this is your golden chance to do so.

Autochartist Review

What exactly is Autochartist.com? Autochartist is supposedly where you go when you want to download useful Forex tools for ”free”.

There are 5 tools in total — which can be accessed on the homepage of the site.

The first tool is called Risk Calculator tool. What does it do? It manages your cash exposure in the Forex market so that you can minimize your risk exposure and avoid unnecessary losses in the market. It definitely sounds like something you’d want to try out.

The second tool helps people refine their market entry points. How does this tool achieve that goal? By identifying support and resistance levels in a market. This is such a generic explanation as we expected this tool to have a thorough description of how it identifies exact entry points in the market. Rather than mentioning support and resistance, we expected in-depth analysis of the exact things that happen before this tool can tell users where to enter or exit.

The third tool is called Volatility Analysis tool. Autochartist claims that this tool was developed with the special ability of helping traders optimize their take profit and stop loss based on market volatility. And it can be downloaded for free. That makes sense, isn’t it?

The fourth tool offered by Autochartist is basically specialized on capitalizing on predictable news outcomes. This tool apparently helps news traders make money in the Forex market.

And of course the last tool is known as price action monitor. With this tool, the site claims that you can react faster to sharp price movements in the market, and this can help you gain more pips that the average person trading the same Forex market as you.

Autochartist claims that the 5 tools are the very things you need to succeed as a Forex trader. Their aim is to help you make better trading decisions before entering the Forex market.

Are these tools really free?

Autochartist claims that the 5 tools are free to download and use. But there is a catch. If you’re going to download these tools for free, you will be forced to choose one of their affiliated brokers on the list. How is this benefiting Autochartist?

Well, when you choose any of their affiliated brokers, the owner of the site will make some money when you make a deposit through their affiliated links. They also make money each time you place a trader.

The impact of this kind of arrangement is that the broker may sometimes introduce unfavorable spreads to ensure that sufficient profits is made for both the broker and the affiliate in question. The cost of each trade is on you.

One of the brokers which they’ve teamed up with is called Think or Swim. This brokerage is as controversial as Autochartist website. You can get a hint from this article.

Nevertheless, there have been numerous complaints from people who have used Autochartist to obtain these seemingly helpful tools. We will be getting into this in the next section of this review.

Customer feedback

After receiving some complaints in our inbox regarding Autochartist website, we decided to investigate further and see if these people were speaking the truth.

It shouldn’t be difficult to verify these claims especially from a site that has existed for more than a decade. There are plenty of customer reviews and testimonials around.

So we headed to the famous FPA forum where matters related to Forex trading and products are discussed. What exactly did we see?

autochartist customer feedback

We saw a barrage of complaints. Autochartist has 17 user reviews there. The website’s overall ratings is 2.5 out of 5. A good percentage of those ratings were eaten up by negative reviews from people who were not satisfied with the experience which they got from Autochartist.

Many users have complained that the person running Autochartist website is good at marketing. They have multiple and very convincing YouTube videos. In those video clips, they explain everything you’d want to know about Forex trading and how to use their tools to become a better trader.

But once you’re subscribed to any of their tools, you are left alone to figure it out on your own.

Customer support is rated zero! This site does not offer any support with their trading tools because they are allegedly free to use.

However, one customer complain caught our attention. This user said that when he downloaded one of their tools, he was asked for a username and a password, meaning that he could no longer proceed with the ”free tool” unless he paid some amount of money.

Another disturbing complaint which we saw in this forum was that some of their software came with malware that inspected a users’ computer with the intention of stealing passwords.

Surprisingly, the owner of Autochartist has never responded to any of these claims. Not only is this unprofessional, but it also makes us believe that this site is not acting in the interest of its customers.We wouldn’t want to believe that Auto chartist is taking the path of Forex scams on the internet.

Our best advice for you

Lack of customer support at Autochartist is a huge concern with this site. Anonymity of the owner is another issue altogether. Shrewdness is a big problem. We don’t even know how to rate them. Please use these recommended Forex programs instead. 

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