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Ala Forex Robot (Alaforexrobot.com) is another automated trading system claiming to be the best. The sales tag is that they feel that traders should have a tool that is developed by successful experts. What they lack is transparency as there have been scathing comments regarding their bot. The few investors who tried out the robot claim it is nothing but a scam with no heads or tails. After signing up, they expected to make money but the bot didn’t deliver on its promise.
The name of the robot would make it seem to hail from the Islam region. They claim to be 100 percent automatic on their website. Based on their claims, they use the magic of mathematics to exit and place trades. For those using MT4 accounts, the platform claims they should make a minimum deposit of $5,000. The expected monthly return from this robot is market at 10 and 40 percent. Such a guarantee is absurd in the forex trading world due to the unforeseen changes in the market.
To get the best out of trading, investors need to use proven and tested trading tools. And this is why experts and professionals recommend formidable forex trading robots. These robots guarantee the safety of investments as well as a realistic profit margin.
Ala Forex Robot is clearly up to no good when they offer a guaranteed profit margin. The market is volatile and prices change without any advance warning. And this is why making such a bold move is unwarranted. Only scam robot developers make guarantee claims to attract naïve investors. It is the main reason why we had to investigate and post this eye-opening AlaForex Robot review. These are scam developers who have a hidden agenda to steal from online traders.
They claim to offer a worry-free trading experience with elite performance. From what we can gather, the robot is strictly trading with Forex assets. They mainly deal with major currency pairs such as EUR/USD, EUR/GBP, AUS/USD, USD/CAD, USD/CHF, and USD/JPY. These are major currency pairs that will attract investors to sign up. The main problem with the robot is that they don’t have Crypto pairs. Most of the efficient robots also pair Crypto assets with major currencies. It helps investors have a wider trading asset base.
The name of the vendor remains unknown which is a huge problem for investors. A real trading platform will have the name of the vendor listed. It helps to show transparency and also lets investors know who is behind the robot. For investors who sign up, they are sending their funds to an unknown vendor. These could be scam developers who plan to steal funds from unsuspecting investors. The business owners should be known for accountability purposes. That’s why we believe this is a huge problem for investors.
There are no positive comments from members who signed up with the robot a while back. After purchasing the robot, investors believed it would change their fortune. It was not meant to be as the robot is unable to deliver on its promise. And this is the main reason why we have to shy away from the robot. In their defense, the robot has hired keyboard masters to post moving comments. These freelancers post positive comments about the robot to help it gain traction. It is what scam developers do to get investors to believe their products.
Thanks to the domain checker, we can reveal when the website went live. Records from a domain tools show that the site went live on 9th February 2020. And this is what makes it a huge problem for investors. It is clear the robot has no prior trading experience. Lack of experience proves their inability to offer accurate indicators and signals. And this is why we have to flag the robot down. It has no experience and no results to prove it can go head to head with other robots.
This is an automated trading robot that has a price of $349. They use the trend following strategy but fail to disclose the time frame. There are not a lot of features to mention expect on their landing page. These developers have created a welcoming landing page to throw off any suspicion. They have added a number of industry jargons to try and make them look professional. Ensure you stay away from the robot as it does not offer any realistic way of making money.
Ala Forex Robot is NOT Licensed by any regulatory body in the entire universe. They have their IP details which show their servers are in Berlin, Germany. A closer check with BaFIN reveals that the regulator does not recognize this robot. Other regulators in Europe such as the FCA, FINMA, and NFA don’t know the robot. And this means the robot is failing to comply with industry set regulations. The problem with this is that any deposits made do not fall under any insurance cover.
There is no money-back guarantee with this robot. Once you purchase it and there is a breakdown, no funds will be reimbursed. And this is why using regulated products is ideal as they offer money-back guarantees services. Another problem with the site is the lack of proper compliance details. There are no details showing compliance on their terms and conditions page. And this is proof we are dealing with a rogue robot out to commit financial crime. Stay away or else become another victim.
Ala Forex Robot is furnishing users with two account plans to choose from. These plans are listed as free and the last one is a lifetime usage plan. The lifetime usage plan goes for $349 and has no clear advantage over the free package. It seems that the developers were in a hurry when creating these packages. They seem to have the same features which are odd for a free and paid account package. And this is another reason why we believe this robot is up to no good. No one should trust a robot whose features are the same with the free account.
Disclaimer at the footer of their homepage shows that the platform has a contact form. They seem to be controlling the communication process. Even if you send an email, they decide when to respond to it. There is no phone number where one can call support direct. It is possible that these scam developers have hired a virtual phone office provider. The results being that the robot is unable to meet its obligation of support. Stay away from products and service providers who are not available for comment.
They have provides one live myfxbook account and over five backtest results. This is proof of strategy testing but not full proof of the robot’s capabilities on a live account. The one myfxbook account result is possibly their onetime profit result. They should constantly provide and update their results for all to see. The robot fails to provide any information regarding its strategy except trading charts. And this is not considered as a strategy.
The safety of funds is not guaranteed by a robot that is not licensed or regulated. There have been a lot of complaints from investors which makes it impossible to trust the robot. And this is why we must try and expose the robot to protect online investors. Another problem is the lack of proper security software to protect users. The robot is prone to third party attacks as it does not provide any security software. Lack of SSL encryption will render the robot easily penetrable to hackers.
Ala Forex Robot is a scam that is waiting to pounce on unsuspecting investors. They are on the verge of shutting down as complaints have reached authorities. Stay away from the robot and warn your loved ones on the dangers of this robot. Share the post and help make the online trading world safer.
To protect our esteemed readers, we will be adding this robot to our scam blacklist.
Stay safe and use industry-recommended robots. They offer safety and a more realistic profit margin. It is the only safe way to ensure your investments are safeguarded.
We wish you all the best in your trading endeavor.
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