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August Forex Golem Review: Scam Forex EA?

August Forex Golem Review: Scam Forex EA?

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An unbiased and truthful August Forex Golem (Augustforexgolem.com) review is out. The developer makes a bold claim that this is the first EA with real time optimization. One of the biggest problems we have with the website is the design. The developer should really work on this as it is merely a sales page. AugustForexGolem is another excuse of an EA product whose developer wants to take advantage of naïve investors. And this is the main reason why we have to expose this platform.

About August Forex Golem

August Forex Golem Review

After landing on their homepage, we noticed that the platform has a weird design. The design of the platform is off and the sales presentation requires an urgent upgrade. There is not much to say about this robot apart from being a scam. No investor has come out with proof of making money with this robot. In case you see any testimonials on their page, they are false statements of what’s actually happening. Find out more in this detailed post as we try and expose the scumbags behind this robot.

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August Forex Golem is the reason why investors need to be careful when trading. The platform may appear to be affordable but has some strings attached. They claim that investors can deposit any amount which is why investors should be wary. The platform is targeting naïve investors who don’t have a clue on trading. Before you know it, they will be demanding more funds from you. They claim that the more you deposit with them, the higher your chances of winning with their robots.

Breakdown of the robot

The platform claims to have an automatic option which gives users an advantage. In other words, this is an automated robot that trades on behalf of users. Without any proven success, the developers hope that users will automatically sign up. And this is where most users go wrong with unchartered territories. They sign up because the robot allows them to deposit any amount. The simulation of expected wins should not be a valid reason to start depositing funds with a robot.

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Comments from users

August Forex Golem Testimonials from Users

On their homepage, they have a testimonials section with so-called users hailing the robot. One should note that these are random names with no pictures posted alongside them. The developers could possibly be posting these comments under different aliases. We have seen this happen countless times from a robot’s sales page. From our investigation, those who actually bought the robot are ruing signing up. They all are stating that this robot is a scam and no one should purchase it.

Domain insights

After looking at their domain history, it is clear that they have been around for a while. The exact date the website went live was on 16th November 2015. And this means that the robot has been around for a while. The problem with this robot is that there is no mention of it in trading forums. We couldn’t find any chatter from the platform as it does not have any following. And this proves that the testimonials on their page are unwarranted. These are clear scam tactics to get newbies to sign up.

Features of August Forex Golem

The platform is operating with major currency pairs. They include EURGBP, USDCHF, USDSGD, and others. The developer further makes a bold statement that the robot will produce the best results under a minute. All this happens on the one minute timeframe. Anyone making such bold statements should have facts to back them up. And this is the reason why we have to investigate more. What we see is that the robot is gambling with the forex markets with the chart they provide.

License and Registration of August Forex Golem

August Forex Golem Paid Testimonials

August Forex Golem is far from being regulated by regulators in the online trading world. The platform has servers in the United States. Most of the testimonials from the so-called happy clients are from the States. We contacted US authorities to find out whether the platform is licensed. Both the regulators in the region had hard time finding such a robot. The CFTC and NFA have not heard of this robot. And this shows that the robot is far from having a permit to operate.

Without a valid permit, it means that the platform is unable to secure deposits made. There is no depository insurance which opens up users to greater risk. The platform does not mention any money back guarantee. Although the depository option is PayPal, this is not an assurance. With PayPal, users can send a dispute claim and get their refund. The process might take some time and members must have valid reasons to want their money back. And this is why it is best to deal with credible and reputable online trading robots.

Pros and Cons of August Forex Golem

Available price

August Forex Golem is going for $197 from the previous price of $250. We are not sure whether this is a onetime deal or it is a monthly or yearly subscription. They fail to mention it and leave users at a disadvantage. One might buy the robot and start getting charged for updates. The developer is not clear on the features available for the robot. Without a valid package detail, investors will be forced to incur hidden charges. And this is the last thing an investor would want from a vendor.

Contact from support

Their contact page is basic and offers a message board and an email address. The problem with this method of communicating is time. Users don’t have the luxury to wait for a platform to respond to queries two weeks later. The developer should have posted a phone number for easier access. With the claim of having an algorithm that updates itself, it is clear they should have live chat support. They certainly have the expertise to create one. The only way of providing ample support is having direct access to the vendor.

Results and trading strategy of August Forex Golem

Live Trading Results FX Blue

They claim to use Fibonacci retracement which is a fatal strategy. In most cases, this strategy opens multiple positions in one direction which is fatal. They have posted their trading results on FX Blue which has one issue. The vendor fails to update his results which means we can’t fully commit. We are happy with the fact that they have produced verifiable results with a third party. At least they have been transparent with the results. They should continue to track the performance of their trading software.

Scam or legit August Forex Golem

August Forex Golem is a robot that has produced verified trading results. It is not to say that the robot is ideal for trading. There are other features that the developer needs to work on to get our full support. There are several users who claim that the robot blew up their accounts. And this is a pointer that we are dealing with a second tier robot. With such claims, the vendor should work on improving customer relationships. The client can make or break a robot depending on the experience.

Final remarks

To protect our esteemed readers, we won’t be recommending this robot. They have clearly breached our trust with the false testimonials. Until they make amends and start being transparent, we won’t advocate the use of their robot. It is a shame that a robot with verified results can be part of a group that uses false testimonies. And this is the main reason why investors need to be careful with the robot.

Stay safe and start using expert-recommended forex trading robots. These robots have proven over years to be exceptional in producing desirable results. They are what successful traders use to get ahead of the trading world. Start the sign up process and use incredible robots with a proven track record. It is the only way to trade safely in the lucrative online trading world.

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