AlgoTech Forex is a new EA built to return 100% in 6-7 months of trading. The mission of the company is to help traders learn how to trade Forex safely for consistent profits every single month.
Today I’ll be providing a full analysis and letting you know if this is the type of EA that you should be investing in.
AlgoTech Forex Review
My first impressions of the AlgoTech Forex system aren’t great. To start, I feel like I’ve seen this exact same website multiple times over the years pushing the same robot but fails to bring profit. There is certainly the chance that this isn’t the same robot but considering how similar these websites are, makes it very difficult to believe that this software is by a different developer.
The one main difference from this software and many others is that it comes with an e-course as well. Although the price point is extremely high at $500 USD. The course teaches traders how to use and algorithmic trading style. They do not teach theory, all lessons are applied strategy which can be used to trade immediately.
While there are elements of the AlgoTech Forex website that are interesting, there are some major oversights. The biggest issue I have with the developers of this system is their fake trading results. This is one of my biggest pet peeves. You can see on the front page of the website there is a my FX book screenshot to a trading account. Yet, there is no proof that this trading account has anything to do with the EA I’m reviewing. For one, it’s from 2015 and almost all of the pertinent information is deleted.
Developers who use tactics like these can’t be trusted. Right underneath that myfxbook screen shot is a quote about honesty too, it’s really quite disturbing.
I can’t recommend AlgoTech Forex to any of the Forex Robot Nation readers. The product doesn’t have any real trading results and it’s being sold for $500. This really comes across like a lose lose scenario. The likelihood of the software performing is extremely low and you would have to spend $500 just to test that theory. I don’t believe that this EA will be capable of performing to the return on investment they advertise.
If you are looking for a real automated trader that’s currently providing over 25% per month I recommend Forex Fury. Check out my full review and read the comments from hundreds of happy clients that it been using the system for over a year.