Trading Robots

Myalfred.com.au Review: is My Alfred Robot Legit?

MyAlfred is a robot that was created to read the market and provide live results.

My Alfred robot has been conducting technical analysis and executing trades for 10 years.

The vendor even claims that this robot is built out of 3000+ hours of rigorous research.

The owner of Myalfred robot is developing this product from Sydney but one thing is clear; they are new to this marketplace.

Including it in our list of the most coveted trading products would just be a tall order at this time because we feel it’s too early.

The vendor has a simple website that only lacks one thing; a proper introduction of who is developing and running this trading bot.

Myalfred bot

If they had provided a name and track record, I would have just conducted a quick background check to ascertain their claims before considering their endorsement.

Myalfred (Robot) review

Now that the vendor is anonymous and their website is new, we’ll provide a review based on what they say in addition to our critical analysis of the service.

The robot is designed to save time and not to subject users to the learning curve associated with analyzing charts.

The developer claims that My Alfred robot is an AI-based trading bot that works in rising and falling markets.

The rest of the website seems to repeat what we already know about an automated trading system.

We already know that they save time and provide a way for people with zero knowledge to make money from the financial markets.

We expect the vendor to go into the specifics of their strategy rather than using obvious reasons to convince clients why they believe this robot is good.

Trading strategy of the Myalfred robot

The website does not provide key insights on how this robot trades.

Apart from telling us that the bot uses AI technology and is equipped with money management mechanisms such as stop loss, trading of small lot sizes and leverage, the vendor does fails to paint a complete picture of their product.

We just don’t want to purchase a robot or recommend it based on the promises that it saves time and effort.

Therefore, this is something we’re hoping that the vendor will fix. If they want to be transparent, they should definitely consider solid reasons why they think their robot is the best.

Trading performance of Myalfred robot

This product is very new to the market. However, the vendor insists that they have live trading results.

We did not see any page on this website where links to their audited trading performance were posted.

On the other hand, the vendor has provided a free trial which can be obtained by sending a short message to them.

While free trials are good, we don’t know for how long the vendor will let us test this product in order to make a conclusion without feeling pressurized.

This is why vendors who are at par with the competition are always providing verifiable trading performance and using it as a benchmark for selling their products at whatever price they please.

In other words, the owner of Myalfred robot should at least consider including this information.

Conclusion

Normally we include a customer reviews section in our review because we’re always intending to discuss feedback that a product has received.

This product does not have any feedback from traders just yet, and we feel discouraged by this fact.

We would also appreciate the vendor providing some sort of variable trading performance before determining the worth of this trading robot.

Therefore at the moment it will be hard for us to say Myalfred is a good robot.

We don’t recommend it.

15 Comments

  1. I was cold called by this mob and have nothing positive to say about the experience. Initially I was called by a young marketer who made this service sound like a golden goose that couldn’t lose. When I asked about the risks I was immediately transferred to a senior marketer that applied strong-arm tactics. Couldn’t hang up fast enough. Avoid.

  2. I can reiterate the above comment. I was cold called by a pleasant lady who explained the product. Later when I advised that i had been unable to find sufficient information on the company go to the trial, I was, without notice transferred to an aggressive and obnoxious guy who became abusive when I turned them down. Avoid them unless you like warring with heavy marketers with no scruples.

  3. Also just cold called by them, though the marketer claimed it was a followup from my enquiry last year which of course is complete BS and immediately rang additional alarm bells. definitely hang up on them, if it smells like a scam then it probably is a scam.

  4. Amazing same story pleasant lady at first then some arrogant wanker afterwards having ago at me because I didn’t go ahead and then accusing me of lying to them about being interested and wanting a call back? Complete dick Head It’s all crap they want 1k for the trial which will be fake and then around 18-20k to get started and by then your money will be gone. I have been on something similar to this before and it looks great but u can’t retrieve your money because it’s fake trading and your money is already gone.

  5. Cold call Advising it was follow up from last years discussion. Sales person reading from a piece of paper as I could hear when she paused and turned the page mid sentence.

  6. I was also cold called this morning, and told it was a call back. The gentleman I spoke with was reasonably polite, although I did feel I was being pushed quite hard to try the app. I couldn’t recall if I had spoken to someone from the company earlier, so I didn’t just hang up, instead I listened to the information that was provided without making any commitment.

    I asked about the developers of the app, and the call centre employee could offer a website, but explained that it would have limited information as they were just starting out. I’ve agreed to be called back in a month, and have set about checking the app’s credentials; which appear to be limited to non-existent.

    The claimed performance was of the app was for returns of 3-8% with the comparison of 0.5-1% for most banks; according to the gentleman I spoke with. I also had a look in the App Store for the app, without success; further adding to my assessment that this is potentially some kind of scam.

    I’ll be interested to see if, in a month or so, I get the promised call back. I also asked if he would be calling back from the same number (a mobile) and was told that, “…the number changes…on a daily basis…” which sounds very suspicious; most reputable businesses have a specific phone number and are very protective about changes, as they may lose business if they lose their original number. I can’t think of a good reason why a legitimate business would seek to change their phone number each day…

    1. I had the same call a few weeks back
      Very uncomfortable conversation
      Couldn’t tell me about the creator of the software
      Couldn’t find anything else of the Internet about them
      Extremely suspicious
      Would be foolish to invest in something so unknown

  7. I was conned into buying the Bespoke package where I was assured that my account would be monitored and maintained. The story goes that they have been in the business for 15 years working with large institutions. As stated by others, there is very little information on their website but the calls are incessant while they attempt to sell and move you from the trial version. I put 50k from my super fund and watched MyAlfred loose at an alarming rate. I contacted them and asked what the f**k was going on. “Oh, we’ll get it fixed as we have our programmers working on it.” Yep, the losses for the most part stopped, but the profits are minuscule and at this rate will take a year to claw back to my original capital investment. N.B. I pulled out 40K soon after I noticed that the programme chased losses and made them greater. There stop losses didn’t work and their ability to move the take profits higher was not existant. Thank god this stopped after I called and complained. Below is a day’s result based on the 10K I left in the account. Bottom line: Don’t get involved………

    50 142616809 sell 0.64 / 0.64 GBPJPY.a market 0.000 0.000 2021.04.28 21:46:50 filled

    Deals:
    Open Time Ticket Type Size Item Price Order Comment Entry Commission Swap Profit
    2021.04.28 04:30:38 115589807 buy 0.64 AUDCAD.a 0.96069 142283698 in 0.00 0.00 0.00
    2021.04.28 19:52:52 115782016 sell 0.02 AUDCAD.a 0.95804 142569165 out 0.00 -0.20 -15.57
    2021.04.28 19:52:54 115782028 sell 0.02 AUDCAD.a 0.95803 142569177 out 0.00 -0.14 -21.59
    2021.04.28 19:52:54 115782030 sell 0.08 AUDCAD.a 0.95800 142569179 out 0.00 -0.56 -86.60
    2021.04.28 19:52:55 115782062 sell 0.16 AUDCAD.a 0.95798 142569209 out 0.00 -0.63 -129.10
    2021.04.28 19:52:56 115782072 sell 0.32 AUDCAD.a 0.95798 142569222 out 0.00 -1.26 -176.37
    2021.04.28 19:52:58 115782077 sell 0.04 AUDCAD.a 0.95800 142569229 out 0.00 -0.29 -43.30
    2021.04.28 19:53:00 115782085 sell 0.64 AUDCAD.a 0.95798 142569239 out 0.00 0.00 -181.05
    2021.04.28 19:53:00 115782087 buy 0.02 EURJPY.a 131.625 142569241 in 0.00 0.00 0.00
    2021.04.28 21:46:50 115817875 sell 0.64 GBPJPY.a 151.529 142616809 in 0.00 0.00 0.00
    0.00 -3.08 -653.58
    Closed P/L: -656.66
    Deposit/Withdrawal: 0.00
    Credit Facility: 0.00
    Round Commission: 0.00
    Instant Commission: 0.00
    Additional Operations: 0.00
    Total: -656.66

    Positions:
    Open Time Ticket Type Size Item Price S / L T / P Market Price Swap Profit
    2021.04.28 19:53:00 142569241 buy 0.02 EURJPY.a 131.625 0.000 0.000 131.669 0.00 1.04
    2021.04.23 15:52:49 141521579 sell 0.02 GBPJPY.a 149.296 0.000 0.000 151.411 -0.39 -50.02
    2021.04.23 21:37:49 141643289 sell 0.02 GBPJPY.a 149.721 0.000 0.000 151.411 -0.39 -39.97
    2021.04.26 15:18:31 141854384 sell 0.04 GBPJPY.a 150.152 0.000 0.000 151.411 -0.53 -59.55
    2021.04.26 23:24:00 141964397 sell 0.08 GBPJPY.a 150.286 0.000 0.000 151.411 -1.05 -106.43
    2021.04.27 13:47:49 142102078 sell 0.16 GBPJPY.a 150.708 0.000 0.000 151.411 -1.06 -133.02
    2021.04.27 19:46:38 142214622 sell 0.32 GBPJPY.a 151.122 0.000 0.000 151.411 -2.13 -109.36
    2021.04.28 21:46:50 142616809 sell 0.64 GBPJPY.a 151.529 0.000 0.000 151.411 0.00 89.19
    -5.55 -408.12
    Floating P/L: -413.67
    Working Orders:
    Open Time Ticket Type Size Item Price S / L T / P Market Price Comment
    No transactions

  8. John Romanin once again. After I spat the dummy at these guys, things settled down with the account. For the most part, the account is turning over within normal limits and is doing okay. Doesn’t make heaps on each transaction but seems more like a scalping program; i.e. makes many trades and sells out with many small profits and small losses. Hopefully most days it’s in the black. I don’t think they’ve been doing this as long as they state, and more to the point that are still working on the programming. I was assured that as movements work in favour of profit, the program sets the stop loss lower and increases the take profit to maximise the profits. I think they are still working on that as from what I see, they still chase losses. I wish they could practice the lyrics of that song: Know when to hold, know when to fold ’em, know when to run. Anyway, I’m staying in for the time being and will help them fine tune the program and hopefully they will be able to brag and show that they have a good robot in the not too distant future.

  9. Prior to being contact by Myafred i have previously used the GPS Forex Robot which was not working very well for me at all kept losing money. Signed up with the alfred ea and have not looked back since the customer service is great and i always get the answers im looking for. I can only speak for myself but the program works and there are no issues i can report.

  10. I’m learning about these robots and when it comes to MyAlfred, he is fundamentaly following the weird idea that doubling down on losses is a way of minimising losses. Absolute bunkum. Averaging down meant that I lost a shit load when MyAlfred started increasing the size of the losing positions. It brings the average investment price down supposedly so that an investor can break even sooner.
    Even though it worked a few times, eventually, averaging down will result in a large loss because an investor will either lose patience and close the position, or they will experience a margin call.
    Money aside, keeping, let alone reinvesting, in losing positions wastes time that could be spent on looking for better trading possibilities. SO, take notice MyAlfred and get your programmer to start doing what you said they were trying to do. I’m not interested in talking to anyone there anymore as most of it is bullshit. I paid lots, (I mean lots) to get the bespoke package and yet there is no hands on operation or monitoring. I have been off line too many times and I’m the one accused of hitting the close button. Not the fact that Windows does updates and because I’m hosted virtually I do not know when the stupid site must be restarted. The site through ICMarkets is great, but they offer lots and lots of free and priced robots that give superior results. So MyAlfred, do what you say you can do for the results that you offer, you can do better and have a product that will out perform. In any case I’ll be the first to recommend and also the first to condemn. By the way I copied most of the info from Livetrades.com Beginners Guide and give them credit for their educational info. Love and peace to all.

  11. hmmm…
    As above I was cold called by a pleasant girl whom was helpful and a good all round customer service/ marketing call. I asked questions she was unable to answer and was scheduled in to the next interaction point which was a hard sales call.
    This is where it went pear shaped….as above I experienced a sales person whom bullied, did not listen, kept cutting me off as I spoke, repeated non answers to my questions, was offensive, was combative and I asked nicely 5 times to be transferred to another person as we clearly had ‘different’ communication styles and I wanted my questions answered (or at least an opportunity to finish asking them without being cut off and belittled).
    As per others I enquired with the 2nd sales person whom was calm and well trained. I gently felt the sales objectives throughout the discussion with the push for commitment, barrier objection solutions, helpful info, etc. The guy was polished and would most likely be convincing to most. This started to go the wrong way as I tried to drill down on most specific data regarding the algorithm strategies, the policies for if there is a problem with the technology in case of malfunction or blackouts, started to drill down on the trade reports (win/loss %), enquired regarding the loss rates of up to 14 in a row in the reports, the total number of trades to achieve the 15% return over 6 months (around 600-700 in reports) etc etc.
    The sales person had no answer..in fact stating ‘to be honest I do not know the strategies or how the algorithm works you need to speak to the IT department’. He then called time by saying oh my 5 minutes is up to get off the call. I was in the middle of asking him the difference in services and products between the $18,900 package and the $50,000 to which he said ‘people who take the $50k package don’t ask questions like I am asking and that I am potentially blowing air (not exactly what he said but you get the gist)’.
    I also tried to get figures from him to do some math regarding the reports which did not quite add up…
    He had no data!!!!!
    From my experience with these guys out of principle from my dealings with the 2nd person I would advise do not invest a single dollar. I have not had such a poor interaction with a sales person in my life. I literally said to him you need training 5 or 6 times and asked to be transferred to another person 5 times before I had enough. I even asked the next sales person if they had recorded sales calls to which I was told ‘no and that the guy james/jim was quite strong’ (i call it obnoxious, rude, untrained and a liability if they are a legit company).
    If you don’t mind this behaviour coz you want to make money I still have bad news….they give no data, no evidence, sales people cant answer fundamental questions (you get off every other platform as a standard) and no information of the creator/developer of algorithm and strategy of the algorithm whatsoever.
    I wanted this to be legit and I was intrigued by the offering but this reads very similar to ponzi scam and other ‘fake’ trading platforms.
    Is it legit…I do not know…it could be but it is too risky to drop $20k – $50k to find out
    Will I buy it….for shits and giggles I may throw $1k at it (lowest commitment after 10 day free trial) to see if they will in fact cancel the platform and return the commitment and gains) and update what happens. I will sit on the decision as I find myself stewing over the abuse I copped from the 2nd contact point (bully sales person) and really want to avoid them completely!
    I advise beware…

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