Estimated reading time: 6 minutes
USI Tech is a company that claims to be involved in matters related to automated Forex trading systems. According to the sales page of USI Tech website, this company has been around for 8 good years, and that they have developed over 100 different software for trading during this period of time.
Well, the first thing we are not sure of is whether USI Tech has been releasing products as stated above. First off, their website is so new. It just started a little over a year ago.
This discovery invokes suspicion because we are not sure whether they are fooling us or if they have been developing products without a website. In fact, there are only 3 possible explanations that could give us an answer.
There is a possibility that USI Tech is fooling us. But if that is not the case, then probably they have been developing Forex trading systems under different brands. And finally, if the above two assumptions are not valid, then we can conclude that they have been developing these products without a website to promote them at.
So far, we have established that USI Tech is registered in Dubai under the reg number ICC20160282. We could not get access to the full address of the company. The only way to contact them is to fill out a contact form on the website.
The first thing that we see with this website is that it is providing very little information regarding what they have been doing for the alleged 8 years of operation.
Generally, the information is not straight forward, and thus customers may have a hard time trusting them. The first time you land on that site, you will get confused because it is difficult to establish what this company is offering the marketplace at first glance. This is because USI Tech website is using a completely different approach from the one we are used to.
The website only mentions that USI Tech deals with the development of Forex expert advisors. They make it clear that their EAs are designed for operation on the MT4 platform.
On the other hand, we are used to seeing developers putting more emphasis on strategy, results and back tests when promoting their robots.
Now, this is a little different. There are no mention of strategies, results or backtests. This information is simply not available in the forefront of this website.
The website claims that this company works with a top of the range development team who has accumulated over 20 years of experience on their back. Unfortunately, none of these traders or developers were introduced on the website. It seems that this company is only concentrating on making one claim after the other without caring to show us some sort of proof to validate those claims.
While these claims sound great and even make USI Tech look good, we are not able to validate their strengths and weaknesses as well. Our job becomes a difficult one because we are only relying on claims as opposed to factual information.
As it stands now, we have no idea who is making the robots and also the kind of trading approach they are using to make these robots effective.
Like we have said, it is very difficult to establish what this company is really offering. Yes, they claim that they do manufacture expert advisors for the MT4 platform. But that is simply not enough because we need more information on the development team and the trading approach that they are relying on to make their robots good.
As it stands now, the strategy was not disclosed. Price of their robots is unknown. Time frame in which these robots execute trades are unknown. The pairs that are being traded are also unknown.
In fact, this is the very first time we are coming across a software vendor that does not disclose price, strategy, time frame or pairs that are traded.
This is a bad sign. It kills confidence towards this company. Our take is that if USI Tech is to be taken seriously, they need to re-evaluate their marketing strategy which will ensure that more information is provided to the prospective consumer who might be looking to buy their products. Otherwise, if these changes are not made, then this company will be treated as another joke in the Forex marketplace.
Besides this, we have noticed that the members area of the USI Tech website is not working. We tried signing up to see if we could get some more information therein. But our efforts were in vain.
Any software vendor who claims to be selling a Forex trading robot must be willing to prove their concept. How do they do it?
Well, they must show us their trading results for us to believe them. The trading results section is where we determine whether or not a product can hold for short or long term trading.
The problem with USI Tech is that they did not bother to publish any results at all. Instead of giving us facts, the website claims that they have managed to make a profit of 150% for their clients.
Again, this remains to be a statement that cannot be verified in any way. As we have said before, this company hates to deal with facts. So they prefer to make one claim after the other, hoping that they will do business with the naive.
Currently, we do not know the time frame upon which those profits were made. We are not shown their trading results either. So it’s quite difficult to verify these claims of profit.
At this point in time, we’d conclude that USI Tech is not providing us with any useful information that would help towards building trust on their company. They are instead beating around the bush and hoping that we will dance to their tune. This is more or less unacceptable way of doing business.
In our opinion, cases like these often turn out to be scams because the products are poor and the developer is often someone who doesn’t know anything about the Forex market.
The USI Tech company has build a bad reputation for itself ever since it got launched (we don’t know when). We managed to fish it out in a Bitcoin talk forum where some users were claiming that the owner of USI Tech company was arrested in Portugal sometime in 2014. Reason for his arrest?
He was running a ponzi scheme— the officials claimed. The man behind this company was actually managing a ponzi scheme where he was promising a weekly return of 10%.
The complaints insinuated that this man was banned from operating any company in Portugal because he had stolen millions of dollars as a result of conducting illegal business operations on the internet.
Many people don’t trust this nefarious character anyway. They claim that USI Tech is among his many Ponzi schemes since the company seems to be following the same methodology as his many other companies.
Nothing is being offered by this company. You might do yourself some favor if you stayed away from USI Tech. Please check out these Forex trading products.
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