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AlnoTrade is an MT4 platform that has trading software and also manages investors’ accounts. The company wants its clients to experience a revolutionized trading experience. The venture also states that their results are verified by live account trading.
Over the past few years, we have seen fraudulent systems invade the market. Investors who lack adequate knowledge suffer the most as they end up losing money. They claim to be focusing on the performance of live account trading. The company has four trading products for their clients.
They have DaxBotV2, Dragon Scalper, SerlingXP, and EscalpX50. The platform promise investors return on every month. Their trading software allegedly is consistent when it comes to trading. Therefore, their customers got nothing to worry about as they have everything in control.
AlnoTrade guarantees stable returns. We have our doubts since the market is volatile, and it is hard to predict the outcome. Additionally, clients can select their level of risk. You have the liberty of choosing your lot sizes.
The firm has a clear trading plan that you can set the profit level and the stop loss. Moreover, the company is not using the grids, martingale, or a cost averaging strategy. Their methodology is easy to use, and investors will not be exposed to unreasonable risks.
The products of the platform are different, as each of them has something different to offer. They also come along with elaboration and key highlights to not experience a hard time with the venture.
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However, the information they present is minimal; therefore, you only get a rough idea of what to expect. It is something that the entity needs to work on if they wish to win the trust of Investors. Legit Forex trading software in the industry provide detailed information that can assist investors in making a sober decision.
Founders Information
AlnoTrade is a platform that is being operated by three team members. They are allegedly very experienced in the trading sector. The people behind this company are; Matt Korsen. Michael McAlpine and Claire Hancock.
However, the company is using stock images to present its team. It is a huge red flag that we shall not take lightly. The venture is not transparent, and we do not know what else they are hiding. Additionally, we fail to understand why the firm would do such a heinous act.
Moreover, the firm does not provide sufficient information regarding their team. We do not know their qualification or what set them apart from their competitors. It is a shame that AlnoTrade does not look like a trustworthy platform.
The only available information is that of Matt, whereby he is linked to a trading bot known as DaxBot. As you can see, there is no finance or developer information that is accessible.
Trading Strategy
The company has four trading bots, and all of them are using different strategies. The data that is meant to explain how the website operates only contains a few sentences. However, we will do our best to break down the information for you.
Their dragon EA is trading the GBPJPY currency pair, and it enters the market in a timeframe of 5 minutes. The bot executes orders based on support and resistance levels. The software usually trades in the US session but does not hold when it comes to the Asian market.
The strategy that AlnoTrade usually uses is the scalping method. The prices vary depending on the software that you want to purchase. It can be from €199 up to £299 per year. Unfortunately, the prices are pretty high, and this could be a disadvantage as there is a better investment venture in the market that charge a bit less. You will find another company charging the same amount for a lifetime license.
Trading Results
The company presents its trading results via the MyFxbook account. Let say their products are excellent, and we think the software is doing a tremendous job. It appears that the majority of the report is still operating. The platform has an average win rate of 70% up to 441%.
The drawdown that you should expect from AlnoTrade is from 3% to 47%. Nonetheless, the firm uses a hazardous strategy; therefore, you might see the trading software as a profitable venture, while indeed, they are not. The company is trading using a large lot, which inflates the performance.
You can still make a profit, but you might never attain the figures that the platform display on their website. Apart from that, we still have multiple suspicious with this company. Moreover, some elements are hidden from the public, like the commission and the size lot. If at all, the platform wants to be viewed as a transparent entity, then they should come clean.
Clients Feedback
AlnoTrade has several reviews on forexpeacearmy. The majority seem to be pleased with the services of the software. However, there is one trader who is not satisfied with their services. He is calling them a money blowout venture that is not worth of investors money.
They urge other traders to stay away. Nonetheless, the company reply to the accusations as false in their defense, the MyFxbook account shows that they are indeed a profitable venture. Moreover, clients claim that the software is very impressive.
The software is allegedly profitable and has a fast withdrawal process. Despite AlnoTrade making losses most of the time, they are winning. Clients praise the scalping bot of this company for being accurate. However, most of these comments do not have a profile apart from the negative review.
Contact Details and Regulation
You can contact the company via email; [email protected]. The platform does not disclose its area of operation. It is not a pleasant act as it does not make them a transparent entity. It appears as though AlnoTrade is determined to stay anonymous at all costs.
AlnoTrade is a company that is collecting money from investors across the world. They do not have the proper documentation that permits them to conduct their business. Hence, the firm is operating illegally, and clients should avoid them.
Red Flags
The company uses stock images that have been used by multiple shady platforms in the market. It disqualifies them as a legit entity, and you should avoid them. Furthermore, the firm does not disclose their office address. AlnoTrade is operating anonymously while we all know the importance of having offices.
The platform is using a deceptive method to imply that they are making huge profits. Clients might not attain the same outcome, which will be a problem. To manage the account of investors, you need to deposit $500. The venture has no scam report apart from the negative review from one of their client.
They are suspiciously operating as you can only contact them via WhatsApp or email. Introducing their team to the public would help. We would love to see their qualification as well. The firm does not have past trading records.
Final Verdict
AlnoTrade is an exciting investment platform that has been in the market since March 2019. However, they do not have that great audience as the firm has a low Alexa ranking. We have some unresolved issues with the company.
We do not understand why they fail to introduce their team for credibility purposes. Moreover, earning the project is also very high. Nonetheless, there is no report of investors being scammed. It would be better to observe caution. Invest with transparent Forex trading EA.
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