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Powerful Forex Ea Review: A Scam?

Powerful Forex Ea Review: A Scam?

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A promise of working as a sports car is the reason for this Powerful Forex Ea (Powerfulforex.com) review. They compare this robot to a sports car as compared to a hatchback. The developer makes a bold claim of guaranteeing a 30 percent ROI in 30 days. If this were the case, we would all be using the robot due to the high yields. It is not the case as there are a few problems facing users. Get to know more in this unbiased post.

Powerful Forex EA Review

About Powerful Forex Ea

The presentation of the entire robot is on one page, which is easy to navigate. They have not dragged too much information, which makes it easy to understand their course. And this is possible there most significant disadvantage as users are left with more questions than answers. The developer has merely posted what he feels is the right information. From a trader’s perspective, there are a lot of missing links. And this is the main reason for this thorough PowerfulForex EA review.

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Powerful Forex Ea is a platform that is highly advertised without a doubt, a huge problem. The platform is creating the illusion of a successful brand. Unlike their name, the robot is neither robust nor reliable. There have been a few complaints here and there regarding this platform. It is the reason why we have to expose any feature that harms users. Our team thrives on ensuring the safety of traders at all times. We will show you the three sides to the coin that is this trading robot.

Assets and instruments covered by the robot

Information plays a crucial role in ensuring that users get the best out of trading. And this is made possible by the developer’s homepage. On their website, however, things are not as bright as they ought to be. Details regarding the assets and currency pairs available are not posted. And this leaves interested parties guessing the available trading instruments. Users don’t know whether the platform offers major or minor currency pairs. They could be offering exotic currency pairs only.

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Powerful Forex EA Features

Apart from being anonymous, they fail to disclose their trading background and history. The location of their headquarters remains unknown even to this day. And this is a problem with most online developers. With anonymity come questions that need answers. We have no information on the expertise of the developer. For all we know, this could be a recycled forex robot under a different name. Without transparency, it makes us question the intent of this trading platform.

Comments and testimonials from current and previous users

The platform has no client engagement, which could mean poor customer relationships. It also means that the trading community has not well received the platform. We could not find any chatter regarding this robot in various trading forums. And this is a massive problem as the robot’s credibility is in question. Without user engagement, there is something wrong with the platform. There is no mention of this platform on social media platforms, which says a lot about the robot.

Compliance and License of Powerful Forex Ea

Powerful Forex Ea is a problem for many investors since they lack a valid working permit. The platform whose servers are located in Germany doesn’t have a BaFin license. And this means that the robot has no credibility in a serious investor’s eyes. The platform could as well be another faulty robot from offshore brokers. Without any credible compliance details on the homepage, a lot leaves to be desired. The developer would have scored some marks if they had a valid permit.

A robot that fails to have the backing of a regulator points to one thing. The platform is likely to block any money-back claims. Without a permit from the regulators, no one should trust what they say. They may claim to have valid trading services but, without a license, it is not the case. A regulator ensures that all deposits made are covered by insurance. Investors using this robot will not get any insurance cover. Once the robot goes under, it is the last users will see of this robot.

Domain details

A closer look at their domain background reveals some disturbing features. The web server has hosted multiple forex products. Details show that powerfulforex.com went live on 1st September 2015. Another puzzling information indicates that the hosting and registrar history of nine changes on six different servers. There have been 20 IP changes over the past 12 years. These servers are also hosting other trading robots, which point to one thing. The platform is in bed with other scam products. These robots are likely owned by the same person since they are on the same servers.

Features of Powerful Forex Ea

Powerful Forex EA Price

There is no clear distinction on whether this is a scalper or swing trader. The robot does not use indicators and does not disclose its method of analyzing the market. They merely claim that this robot uses smart calculation for trade entries. The developer should have been more transparent with their strategies. They expect investors to blindly sign up with the platform without prior knowledge of the robot. And this is a mistake most developers make when advertising their robots.

Pros and Cons of Powerful Forex Ea

Available price

Powerful Forex Ea is going for $250, and they claim it works on two trading pairs. Interested investors should know that the robot works with AUD/USD and EUR/USD pairs. A minimum deposit of $340 is required to jumpstart the trading process. The robot remains to be a challenge for most users. They fail to mention the setup process involved with the robot. And this makes it hard for newbies to utilize such a robot fully. These are the reasons why we have to blacklist this robot.

Contact and support

Users should not expect any contact from the developer. They have not been able to respond to our emails weeks after sending them. A legit platform should offer fast response time to users. They should also post their phone numbers to make it easier for direct contact. Without live chat support, users can make calls in case of emergencies. And this goes to prove that the platform is not serious when it comes to client relationships. We expect a response from the robot’s support team soon.

Trading results and strategy Powerful Forex Ea

There have been some issues with their trading results and strategy. When it comes to the strategy the robot uses, they fail to disclose it. What they have done is post their trading results on myfxbook. Immediately, we can start seeing impressive numbers from 2017. They claim that a safe drawdown is between ten and twenty percent. The drawdown from the results is not the same as on the homepage. They claim that the robot is equipped with a smart drawdown tool that is not the case.

Scam or Legit Powerful Forex Ea

After carefully reviewing all the facts, it is clear that Powerful Forex EA needs an upgrade. Ensure you sign up with recommended trading robots for fun-filled trading experience. They may have the right idea, but the execution is lacking from the platform. And this is why we have to be more careful with the platform. Stay alert and use products that are backed by trading experts.

Our recommendation

We won’t be recommending any platform that is not backed by regulators. And it is for this reason that we advise against signing up with the platform.

Make sure to sign up with impressive forex trading robots backed by experts. These robots offer a better glimpse of what trading is all about. They protect your investment and provide vast knowledge when it comes to online trading. What are you waiting for?

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