Auto Forex Direct Review: Is it a Scam?
Welcome to the Auto Forex Direct review.
Auto Forex Direct is supposedly run by a “real estate millionaire” who quit his “lucrative” business to join the world of Forex trading.
This claim seems plausible. It’s very unlikely that a successful real estate millionaire will quit his job to trade Forex or distribute copies of his magic trading system for a couple of dollars.
AutoForexDirect sales page discloses that a man named Darren Richards owns and runs the trading system.
The owner of AutoForexDirect.com also owns the domain darrenrichards.com and claims that he sold DatingDirect.com for £30 million.
There are pictures of him on the Auto Forex Direct website.
These pictures portray someone who is living a flashy lifestyle and wants to convince the audience to get the magic trading system as soon as possible.
The presentation is typical of an investment snake oil artist rather than a professional trader. In fact, we’re beginning to doubt his story.
Does “Darren” of Auto Forex Direct has solid trading performance to back his claims? Or is he selling Auto Forex Direct system because that’s the only way he can make money?
This Auto Forex Direct review will let you know whether the trading system is viable or not. Our analysis of the trading system has already revealed so much.
[alert-success]For our list of realistic Forex trading systems, visit this part of our website.[/alert-success]
Auto Forex Direct review
Promotion materials claim that the physical address of this firm can be found at 27 Old Gloucester Street, London, WC1N 3AX.
The company is owned and operated by a guy who claims that his trading system can generate 7-15% monthly returns.
The sales page is touting 100% automated trading signals that are produced by the “latest and most comprehensive algorithms”.
With this trading system, clients can connect with their own broker account and trade hands-off since no experience is needed.
Furthermore, Auto Forex Direct sales page wants traders to know that the system is compatible with cTrader.
Indeed many trading systems are not compatible with cTrader as most programmers choose the popular MT4 trading software.
However, this seems to be the only advantage of this trading system so far. We’re yet to discover if there’s any other that we’ve left behind.
Features of the Auto Forex Direct trading system include:
- Ability to switch auto trading on and off
- User-friendly dashboard with real time account info
- Detection, selection, managing and closing of trades automatically
A demo account is also accepted for purposes of testing AutoForexDirect.
The signals will be active for 2 months before finally being disconnected from your trading account.
Recommended minimum deposit for proper utilizing of AutoForexDirect signals is £1000 GBP.
Auto Forex Direct costs £49 per month only.
It’s hard to believe that a good trading system that makes people abandon their jobs to pursue Forex trading can cost this little.
The trading strategy of Auto Forex Direct
We’re told that Darren decided to ask his team of software engineers to build a bespoke automated analytics trading program that would bring consistent income.
The vendor claims that this trading system has taken several thousands of man hours to test and tweak.
Here’s the question to ask; can a trading program that was subjected to several thousand man hours in testing be sold for £49 per month?
It would cost an an arm and a leg to offer this to the public.
The author’s story about how he came to sell copies of this trading system does not make sense.
He gives his audience the usual narrative of a man who was once rich and was asked by his friends and business associates to give his secret of generating wealth.
Of course this man would say yes and agree to sell the “secret wealth generating system” for £49 per month.
You know that this is baloney…..
Can the owner produce verified trading results?
Some webmasters have decided to create websites with java script elements or tables containing figures of their supposed earnings.
Auto Forex Direct sales page has published a bar graph showing supposed trading results since April 2018. The results span to January 2020 with only one losing month.
In 2 years, the software has only suffered one losing month. Can you imagine?
This is too good to be true and hard to believe. Furthermore, this kind of result has never been verified by a third party statement sharing platform like myfxbook.com.
The numbers are a lie on this website and so is the table that shows supposed earning figures.
The only reason a vendor such as this one can shy away from using myfxbook.com is when they don’t have credible trading performance.
Bottom line is that a system that’s marketed this way is a money loser.
Reviews from past clients
The owner of Auto Forex Direct is using TrustPilot as a means to gain legitimacy.
We know that TrustPilot reviews can be fabricated very easily since the admins there almost never check user activity.
Of course there are a few legitimate feedback activity from some users. But 80% is falsely generated and we suspect this may be the case with Auto Forex Direct reviews.
Conclusion
We’ve seen such vendors who promote magic trading systems that only lose money. Some examples include Trader Gold King, Super Forex Bot, Renko Kings etc.
Auto Forex Direct trading system is a sham and so is the owner. All of you readers know that we’ve never recommended a trading system whose trading performance is not legit.
This is definitely for the financially naive or people who chase imaginary Forex profits. Darren (we’re not sure whether this is the real name) is basically fooling the financially desperate.
A good trading system that makes money consistently can’t be sold for cheap. That’s final.
Thanks for reading the Auto Forex Direct review.
Steve miller
Where do I start. Please please please stay away from this company. Believe all the bad reviews you see in this site. I have just been forced into a corner to accept a loss of £6500 due the absolute horror show this company put me in. Their so called strategy using this system is completely flawed. Don’t believe their hype or their stats as they are clearly made to look good by hoping people don’t close off losing trades. I have just had the worst two weeks of my life watching that money disappear. The ‘system’ placed 12 sell trades in a row against the run of how the currency pair was turning and it just didn’t stop until the drawdown was over 85%. They had no risk management in place so the trades were left to run. No stop loss, no risk to reward ratio. They give you the only answer they can give when asking them questions which is ‘we believe it will retrace’ just before an announcement to add 500 billion in bonds that forced the euro to massively increase in price. They allow you the choice of cancelling the trades, you have complete control yes. But rather than watching my whole account disappear I decided to at least save some of it but its still left me massively down. They have no care in the world what happens to you and want to charge you £49 a month regardless of win or loss. In my mind that’s wrong, it should at least be done on a commission basis rather than charging you upfront. As I say look at the bigger picture of this service rather than past stats as although you might be up slightly one month you will pretty much almost lose your account the next. Also they state you dont need any training but you do need a thorough knowledge of forex as when you get put in the situation i was put in you need to know how to manage it, be warned. Stay away.