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Dara.trade Review: Is Dara Trade offering a Scam EA?

Dara.trade Review: Is Dara Trade offering a Scam EA?

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Decision Aiding Robot Advisor or Dara Trade review is the basis of our review. One can see their detailed explanation of the robot on their homepage, dara.trade. The platform is selling itself as an automated robot that helps all classes of investors. By creating your strategies, the robot will automatically trade on your behalf using your game plan. It all sounds impressive until you dig deeper and find out the real face of the platform. Read this entire post for more.

 Dara Trade Review

About Dara Trade

According to their homepage, Dara Trade is for brokers, mentors, and traders. With such a revolutionary product, one expects the platform to have a strong user base. It is not the case as the majority of online investors and traders don’t have a clue on this platform. And this is the reason why we have to invest more in investigating such platforms. Most vendors come up with mind-bending ideas but fail to execute them. What they do is offer a product that simulates their opinion and, at the same team, steals from users.

There are safer ways of trading, thanks to authentic and reliable trading tools. Go for proven trading robots that have a perfect track record. These robots offer protection of investment and have the backing of the trading community. With years of trading experience, these robots provide a more robust way of trading. Ensure you use robots that have been tested by trading experts and traders. With testing comes transparency and the actual results of how these robots perform. Go for it and start using commendable trading tools.

Most users will easily fall for this trap, thanks to the professional presentation. The developer has made it possible to entice users with their web pages. One has to give props where it’s due as they have outdone themselves with their design. The navigation is easy, and information is there for all to see. What is more interesting with the platform is that they have used videos to sell their idea. The only problem is that these are paid actors who will do or say anything for a paycheque. Traders should not buy the success story on the video presentation.

Autopilot mode

Autopilot  Dara Trade mode

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The robot calls on users to place their trading strategies on autopilot mode. From what we see, users don’t need to confirm these trading signals manually. And is what makes trading with such a platform a hectic solution to go for. There is no explanation of how their autopilot feature works. Even the promotional video does not explain the automated signal placer. What the platform is trying to sell is a robot that automates trades. If this is the case, there are thousands of products that do the same thing. With each product, the difference is the accuracy level.

Business owner/developer

Ivo Luhse is seen as the brains behind this trading ‘wonder’ auto trading platform. Not much is known about his trading background and history. He suddenly appears in the scene with what he claims is a revolutionary way to trade. The video also shows that the robot was in action in Lisbon, Portugal. With this platform comes an untold story of losses incurred from the autopilot feature. Ivo fails to disclose the safety features if any, that the robot has to protect investors. The promo video business does not come close to what is the reality on the ground.

Contact and support

On clicking their contact page, we noticed the platform leaves a message board. Users have to give their names and email address to receive a response. We sent a message asking for more information on the developer and actual results. There have been no response weeks after we sent our email. What is shocking with the contact page is that there is no direct communication portal. One expects a live chat agent to be available or a listed phone number. It looks like the support team is not ready to handle any requests.

Dara Trade License and Registration

 Dara Trade Features

Dara Trade is yet to have a valid permit from any regulator in Europe. The disclaimer at the footer of their homepage shows a platform that is registered. With 595112 being their company registry number, we checked with the registrar of companies in Ireland. It was shocking to see that there is no company or legal entity that’s registered with that number. And it shows the extent at which Ian and his team have gone to dupe users. And this is cause for worry for anyone who signs up with the platform.

Since the owner is falsifying data, the robot is not offering the safety of funds. There is no money-back guarantee with any of the products provided. And this is an indicator of worse things to come. The platform is going for the vulnerable, which is why we are exposing them. Even though Ian looks like a good guy, the risks involved with his product outweigh the expected ROI. And this is why we must disclose the use of this automated trading robot. Traders who use it will face a higher risk of losing their funds.

Domain information

We checked their domain information and saw that the platform is two years old. The domain checker tools show a platform that went live on 19th May 2018. From what we see, their servers are located in New York. There is not enough information on their IP history, which suggests the platform is new. And this could mean that Ian and his team don’t have the required expertise. From their Lisbon trading show, the platform came out as an IT firm as opposed to a trading vendor.

Features of Dara Trade

According to the disclaimer at the footer of their homepage, this platform is based in Dublin, Ireland. Rosebud Horizon Limited Company is the owner of this firm. Dara trade is offering users a chance to automate trading using their strategies. According to the homepage, the process is easy and takes less than five minutes to complete. What the vendor fails to mention is whether the robot is compatible with all timeframes and trading instruments. Ian claims that the robot is compatible with MT4 and MT5 trading platforms.

Pros and cons of Dara Trade

Available packages/plans/subscriptions

Dara Trade is furnishing users with two plans, which are a free and premium package. With the free package, the vendor does not give users any valuable information on the features. A price of $99 is associated with the Premium package. With the premium package, users get access to live webinars, trading rooms, and all trading strategies. We also notice that the vendor keeps track of all strategies used. It means the vendor is using selling the strategy of their users to other interested parties. If you have a working strategy, the developer will sell it without your consent.

Comments and user feedback

There has been little to no comment on the use of this automated robot. What we found out is that as part of their marketing strategies, they have hired freelancers. The platform has agents who post positive comments on trading forums. With a cast of actors, there are promotional videos on YouTube in regards to this robot. And this is what makes the platform even scarier. It has the opportunity of scaling up and getting a large client base. With no results to prove their proof of concept, we fear most traders will fall for their trap.

Results and trading performance of Dara Trade

With all the promotions and sales done by the vendor, there is no proof of concept. We have not met any user who has used the robot to succeed. The vendor does not even show us the robot in action on his numerous YouTube posts. And this is what sets a right vendor from the rest. Without actual performance from users, there is a high chance of losing money. It is why the recommended products are better since they have an array of trading results.

Scam or Legit Dara Trade

Dara Trade is a scam that is pouncing on anyone who signs up with the platform. Instead of paying $99 for an unproven product, why not use verifiable robots?

Our recommendation

We won’t be recommending a platform without a single trading performance and result.

Instead, we would like to urge investors to use better trading tools. These robots are practical and have a recurring user base. With your funds being fully protected, it makes them the go-to tools for trading.

Our entire team wishes everyone a safe trading experience.

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