ForexAITrader Review: is Forex AI Trader a Scam? - Topedgefx.com

ForexAITrader Review: is Forex AI Trader a Scam?

Welcome to the ForexAITrader review.

The website is purporting to offer a “Forex AI fully autonomous robot” that trades on behalf of its users”.

The sales page wants to show the community how ForexAITrader turned $10K into $6 million in just 2 months.

Forex AI Trader also wants to show traders how this “proprietary artificial intelligence” turned $10k into $32K in 3 months.

They claim that Forex AI Trader is developed out of many man-years of research.

As if this is not enough, the vendor proclaims that Forex AI Trader’s proprietary bleeding edge AI technology learns and predicts the market with an astonishing degree of accuracy.

By leveraging on this technology, ForexAITrader believes that their EA can dramatically reduce losses.

The developer is also talking about Forex AI Trader combining fundamentals and technical analysis to identify trends and patterns, thus predicting which currency pairs to recommend.

The marketing material appears to be extremely aggressive.

This aggressiveness is quite common on the internet. Forex service providers like Signal Detector 47, Arya Trader, PipBolt etc continue to show it in a subtle manner.

The developer is desperate to persuade Forex traders that ForexAITrader EA is the real deal.

However, they’re forgetting to introduce themselves so the trading community can know who they are.

The website of Forex AI Trader does not disclose any information about the person behind ForexAITrader.

Nevertheless, who.is reveals that Forex AI Trader was created by Tariq Farooq who lives in Texas.

Unfortunately, who.is can’t tell me for how long this person has been trading or testing their strategy.

I also can’t verify their claim of having tested ForexAITrader for many years unless they provide the community with credible performance results showing the exact time that strategies that power this EA were tested.

It appears interested traders can contact them on their Twitter account as well.

The website’s Facebook page appears dead or the page was deleted.

ForexAITrader review

Also, pricing of licenses has not been disclosed. I presume that the developer is expecting to be contacted by interested persons so they can reveal the cost of a license.

I don’t know why this is so when majority of Forex product vendors are having no problem listing their prices openly.

Anyway, if ForexAITrader is something you could be interested in, read this review first so as to avoid making costly mistakes.

ForexAITrader review

Forex AI Trader developer wants traders to know that their robot has multiple customization layers.

For example, the robot can trade multiple time frames at once.

It also incorporates both technical and fundamental factors into its algorithm while backing it with its AI trading technology.

The vendor claims that ForexAITrader has 360 degrees visualization where it “analyzes profit and loss graphs to emulate various trading scenarios, thus predicting potential outcomes”.

Forex AI Trader can also be used by manual traders who want to set specific parameters for their trades rather than letting the robot fully trade on automation.

The vendor discloses their trading logic.

They claim ForexAITrader trades trends, reversals and retracements. It does not engage in scalping or arbitrage trading.

The unclear parts of the strategy are obscured with the claim that Forex AI Trader’s “custom/proprietary bleeding edge Artificial Intelligence (AI) learns and predicts trading patterns overtime”.

They also reveal that their EA is able to adapt to news events by changing strategy or not trading at all if market is unpredictable.

While all of these aspects seem attractive, the trading community is still wondering why the developer didn’t disclose pricing.

If pricing had been included, I’d simply go to the trading performance and see whether the Forex robot measures up to the expectations in the price tag.

But still, the vendor has included a “performance” page and this should therefore be a subject of our Forex AI Trader review.

Forex AI Trader Review: trading results

A couple of quick videos have been provided on the trading performance page to show the community how Forex AI Trader converted $10 into $6 million in 2 months.

The second video clip depicts how ForexAITrader converted $10k into 32K in 3 months.

Another one purports that this Forex robot turned a deposit of $100K into 68 million in just 5 months.

The last video demonstrates trading of USDJPY from 2017 to 2018.

The vendor admits that he was trading demo accounts but that is their greatest undoing.

When it comes to promoting a Forex robot, a developer must put their money where their mouth is.

If this developer cannot show confidence in their “custom/proprietary bleeding edge Artificial Intelligence (AI)”, how is the trading community supposed to believe their story?

Furthermore, video clips of this type cannot be considered transparent proof of trading.

Matters get worse if the developer is using a demo account because it shows they lack confidence in their trading algorithm.

A statement sharing platform such as myfxbook.com would have made work easier than mere video clips showing indicators printing on a chart.

Having said this, we can’t establish the authenticity of the videos posted on this website in the name of trading results.

Customer reviews

While the website of ForexAITrader was registered in 2017, no customer feedback has ever been published anywhere on the internet.

I expect websites of this age to be very popular given the length of time they’ve stayed on the web. But this isn’t the case for this vendor.

I would be hesitant to recommend a service of this caliber because honestly no one wants to use a service that isn’t popular.

Conclusion

If Forex AI Trader is generating thousands of dollars with its AI trading algorithm, it should be the greatest news in the Forex trading market place.

The price tag should be pretty obvious. And the developer would never be too shy to disclose their identity, what they’ve done and how they’ve traded a live account.

Thanks for reading this ForexAITrader review. I would like to read your comments.

3 Comments

  1. jackjohnson January 14, 2020
  2. Dorothy Benjamin August 19, 2020
  3. Allison wick May 25, 2021

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