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EOS Forex EA Review: Is this a Scam?

EOS Forex EA Review: Is this a Scam?

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EOS Forex EA (Eosforexea.com) review is out, and a warning is issued on their homepage by Google. The website is not secure, which means hackers can quickly gain access and steal personal data. Hackers are looking for ways to get your banking information, such as credit cards, using such unsecured websites. EOSForex is another forex robot that we will be reviewing today. They show promise of becoming a great robot but have some obstacles to overcome. Read this entire post to find out more.

EOS Forex EA Review

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About EOS Forex

The disclaimer at the footer of their homepage has information on their mission. EOS Forex is claiming to be a leader and innovator in the field of automated trading. The platform boasts of having trading indicators and robots. Information on their background and history is missing on their about us part. What the platform states are that their products are compatible with MT4 trading platforms. With this being the case, we had to dig deeper and find out why some investors are complaining.

Contact Details of EOSForex

With the homepage having an impressive design, one would quickly jump in and sign up. Before doing so, there are a couple of issues to point out. Online trading forums can be attractive to the naked eye due to the promises involved. And this is where investors need to be careful as these claims and promises end up being just that. There is no proof that the robot delivers, which is why investors should tread carefully. With no evidence of concept, the platform remains to be a doubt for experienced traders.

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Assets covered by EOSForex

Information on the available trading instruments is missing from their homepage. And this raises the doubt we have with this platform. Forex trading robots should offer enough information on their exact trading products and services. Without these services, investors remain to be at a high risk of losing their deposits. The problem with miscommunication is that the developer might take advantage of naïve investors. They might be offering currency pairs that are unfavorable to the user.

Breakdown of the robot

EOS EA is using the scalper strategy, and they fail to disclose their timeframe. Being a robot, the owners should have done a better job of providing full features. The license starts at $399 and uses major currency pairs only. Some of the notable currency pairs include AUD/CAD, AUD/CHF, EUR/CAD, EUR/GBP, GBP/AUD, USD/JPY, among others. With that price tag, this EA is more expensive than authentic trading products. And this is the reason why investors should be more careful with the robot.

Business owner

The developers of this robot claim to be an experienced team of experts. There is not a single mention of any of these experts. And this is a problem as these experts have a real chance of losing your funds. From our detailed investigation, we found out that the platform originates in Hong Kong. It is impressive that the servers are in the United States and most victims too. It is an offshore led robot and is targeting American and European investors. It’s now clear we are dealing with an anonymous website.

Comments from members of the robot

There have been no comments from users of this platform, which is weird. We expect that by now, with consistent profit claims, they would get some traction. Most of the Asian trading forums have no chatter on this platform. In the States, there have been a few complaints from users who bought in the idea. These users are now crying foul with the stable profit claims being a mirage. There is no consistent profit on the robot, and most users end up losing their funds. The users claim that the robot lost all their funds in the first few trading sessions.

Domain information

On looking at their domain information, the truth is exposed about their online presence. Thanks to domain tools, we can check a site’s background and history. Being reputable depends on how you handle your digital footprint. The site went live on 18th July 2016. They have been on the online trading scene for over four years with no credible outcome. And this points to a platform that has not been received well by the trading community. It is best to stay away from such unreliable and industry-ignored products.

EOS Forex License and Registration

With the main target being US investors, we checked with authorities to check their compliance. We found out that EOS Forex is yet to be licensed by the CFTC and NFA. The two regulatory bodies have not issued a permit to this robot. And this puts all investors from the region at risk. There is no way of recovering any funds deposited with the platform. The risk involved with signing up with this robot outweighs the estimated profit returns. It is best to avoid using this trading platform.

Features of EOS Forex

Available packages

EOS Forex EA Available Packages

EOS Forex is availing two packages to users. The first package goes for $399 and comes with a single license. Other features include a free demo account and a 30-day money-back guarantee. The second package goes for $599 and has a full license with two real accounts with a demo.  What we noticed is that apart from the license feature, everything else is the same. There is no visible advantage of holding one account over the other. And this raises more questions as to why we have two similar packages with a different amount.

Contact and support

From what we have seen, the platform offers a message board and a Skype address. The Skype address is similar to other platforms under the EA Stone brand. There is no phone number listed, which means direct communication is not available. A phone number allows users to make direct contact with the vendor. Without this valuable information, one would think the developer is hiding. They should be more explicit in responding to emails instead of waiting for days to respond.

Trading Results and Strategy of EOS Forex

EOS Forex EA Trading Performance

The platform uses the scalping strategy and has posted their myfxbook results. What we immediately noticed with their myfxbook page is that there have been no recent updates. And the problem with this statement is that the platform is not open in regards to their current performance. The report shows gains of +378.33 percent, and the absolute growth is +103.53 percent. What is clear is that this is a minimal gain considering they have been trading for over two years.

Scam or Legit EOS Forex

EOS Forex is unclear on their end game, and one thing’s for sure, they are not legit. They may have the results posted, but this is two years ago. The platform has posted reviews with five starts all from the same month. We expected different from a platform that is claiming to be a game-changer. Without updating their results, we can’t recommend them as they may have been dormant. And this is the reason we call for transparency in the online trading world.

Final stand

We won’t recommend a platform that does not update their trading results. It means they don’t track the progress of their robot. Stay away from it and go for other proven alternatives with the best deal.

Smart investors go for trading tools with a proven track record. Go for authentic forex trading robots that have the edge over other products. These robots have been tested and proved to be transparent. The trading community adores them as they help protect investments. For those looking to learn and trade at the same time, these robots are what you need.

I am wishing all investors and traders all the best.

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