Today I’m reviewing a company that is dedicated to automated Forex trading systems, USI Tech. According to the sales page the creators of the system have been around for 8 years and have released “more than 100 software versions with different characteristics.” I’m not sure where they have been releasing these products, but it can’t be on this website, because it was just started a little over a year ago. I’m not sure if they are trying to fool us, or if they’ve truly been developing the systems for a long period of time under a different name or without a website.
The company is registered as USI-TECH Limited, and is located in Dubai with a corporation registration number of ICC20160282. There is no access to to the full address of the company, but traders can get in touch with support by filling out a contact form located in the navigation bar at the top of the website.
USI Tech Review
The website is quite strange, in that USI Tech provides there is little in terms of straightforward information. I find it quite difficult to determine what they are actually offering the marketplace because their approach is so different. Yet, there are a few sentences that mention that they are focused on Forex expert advisors developed for the MetaTrader 4 platform. When dealing with systems like these I am used to seeing much more focus on the strategy, the results and the pairs being traded. None of this information can be found at the forefront of this website, which makes it very different from most of the other automated tools that I review on a daily basis.
They tell us that they utilize a top class development team that “has over 20 years of experience,” but we aren’t introduced to any of these traders. So, while it sounds great, we aren’t able to verify the strengths or weaknesses of their development team. In fact, we have no idea who is developing the software, and what type of trading approach they look to utilize.
- Type: Forex Robot
- Price: Undisclosed
- Strategy: Undisclosed
- Timeframe: Undisclosed
- Pairs: Undisclosed
This is the first EA that I’ve ever come across that doesn’t give us a any information about the price, strategy, time frame or pairs being used. This is not a positive aspect, and if the USI Tech developers want to be taken seriously, they need to resolve these issues. I’ve tried to register to gain access to the members area, to see if there is more information there, but the registration page is currently not working. This is another red flag.
The most important part of my reviews, is always the trading results section. This is because, the trading results section is where I can truly analyze an EA and determine whether or not it’s going to win in the short and long-term. Sadly, USI Tech does not provide us with trading results at all. Instead, we are told that they have “managed to obtain a profit of up to 150%,” for their customers. This statement is never qualified, or proven in any way. We don’t know the time frame in which this 150% profit was gained, and we aren’t shown any results that would be able to prove this as true or false.
The bottom line here is quite simple, the developers of this system are not providing us with any real information about the software. In cases like these in the past, it generally turns out that the product is very poor, and that the developers have little to no knowledge about the Forex trading marketplace.
There are some very damning complaints about the USI Tech company available online. In the bit coin talk forum, there is are a few different users claiming that the owner of this company “was arrested in 2014 in Portugal for running a Ponzi scheme,” where he was offering 10% a week. According to these claims, people are saying that these now banned from running a company in Portugal after stealing millions.
The main concern, is from people that believe that this is also a Ponzi scheme following the same sort of methodology seen in the past by this nefarious character.
The description of the services is also much different in the bitcoin forum, than it is on their website.
After reading many of the allegations from other traders regarding the USI Tech service, I’m certainly concerned and scared off. I can’t see myself signing up with the system, that has such a large black cloud around it. I don’t know if any of these claims are true or not, but they are certainly concerning enough to make me want to stay away until more information comes to the service.
Please let me know what you think about this service, and if you’ve tried it I’d love to hear your experiences.