”Sit back and let the money roll into your account when you trade with our system.”
That's an order and a promise in one sentence. But before you take that order or promise seriously, you need to ask yourself a few questions… how is this Algo Official system different from other scams which you have seen before, and two, what guarantee are these folks giving you as proof that this robot will never blow out your account?
Frankly, we don't know the answer here. But according to the website of Algo Official, this system is so intelligent that it will never disappoint you. It knows how to act and when to act when situations in the market demand action from its algorithm.
That's all that the developer of Algo Official could say about a system which they claim has helped them hit a high benchmark ROI for the last 4 years now.
These claims raise eyebrows to the roof because if you check the date on which this website was registered, you will be surprised that it was registered just the other day. It is barely a month old, and so this suggests that Algo Official is a brand new system.
Nevertheless, the red flags are still intact which suggests that Algo Official could just be another scam targeting traders who want to invest in binary options.
If you're one of them, get yourself a reliable product here. Once you do so, you can carry on with this review to find out how this scam works and how it intends to swindle traders of their hard-earned money. Information is power.
There is no intelligent trading with this product. That's the first truth you should know.
The developer says that they strive to upgrade the algorithm with their cutting-edge learning backtesting engine.
Please wait a moment. Are these folks saying that this algorithm tracks back-testing results so that it can mirror them into your future trades?
Where are the back-tested results? That's the question we want to know.
Secondly, we want to know if the people behind Algo Official are real traders. And if they are traders, we'd like to have a copy of their trading account statements.
And third, we'd like to keep in touch with their alleged customers who claim that Algo Official has made their lives better since they make a minimum of $1400 in daily profits.
You can take it to the bank. The real owner of this system is a scammer. The opportunity which they claim to give traders through the Algo Official trading program is extremely suspicious.
It seems that this fraud is looking to thrive on the allure of easy money. They've heard that most traders dream of a completely hands-free system that can generate profits on auto-pilot. Apparently, that's exactly what they are offering.
However, before people can get too excited for nothing, we'd like to raise a concern. Who owns this system to start with?
The ‘About us' section is the very first place to look when you want this information.
Unfortunately, these scammers did not list their names or professional backgrounds in this section of the website. Instead, they introduced themselves using irrelevant statements like ”Our robot trades multiple assets, executes trades faster than human beings, and trades in all directions to generate income on a consistent basis”.
That introduction sounds awkward. It tells us nothing about the developer of this robot. It does not even say how long they've been in the market– although they indicated that they have been working with this robot for the last 4 years. We debunked that lie long ago, so no need to trust what they say.
The fact of the matter is this… you can never trust a faceless software developer just because they promised you a super-secret algorithm that can trade on auto-pilot to make money.
If they are not willing to introduce themselves, just disqualify them for the next available robot whose reputation can be verified.
This website indicates that Algo Official has been tested for the last 4 years, and that the developer was able to record abnormal profit figures during this time.
Well, it's good that they recorded their results. Now, the million dollar question is this: why are they reluctant to produce these records?
A robot developer who has been diligently tracking results and tweaking the algorithm for better results should have kept a record showing their progress, right?
Apparently, we were not able to verify any of the claims made by this developer. The website of the Algo Official only gave us two images of their supposed returns in the last 4 years. Looking at those images, we were not able to verify anything.
As you can see from the images above, that profit curve is rising so smoothly. The problem is that those results have never been verified by a third party. In fact, this kind of trickery does not even need Photoshop skills since basic computing knowledge is all that is needed to come up with such fraudulent images.
To cut a long story short, the above graph can never be used as proof that Algo Official works. It is as good as not having ”proof” at all.
You can beat these folks in their own game. The red flags make that website look like a red carpet event.
The first thing that usually happens when a naive investor comes across such a website is that this trader will attempt to create an account.
We pretended that we wanted to create an account. But this move also proved to us that whoever is behind the Algo Official website is dumb. For example, they haven't noticed that users can't register on their website due to an enlarged navigation menu that keeps blocking the registration form.
Technically speaking, you cannot write your name or email. But you can give your phone number anyway. Or perhaps this is a trick that makes them come across as stupid when the truth is that they are intending to get your phone number first.
Whatever the case, such a trick can never work. Every investor reading this blog post has heard that such people often use numerous phone calls to coerce traders into funding their accounts. Once that happens, you will never hear from them again.
We are also aware of the fact that Algo Official scam is or used to offer a demo account for those who want to test it. Again, you should remember that we have always warned of these demo accounts before. They offer scammers a leeway to contact you with the intention of stealing money from you.
With Algo Official website displaying so many red flags, you cannot trust their demo account even if they offered one.
While you may think that the Algo Official system is an obvious scam to all traders, this is not the case. Newbies are known to fall for such tricks which should be obvious to you. We are therefore appealing to everyone out there to stay away from this money-stealing scheme. If you want to make money trading binary options, use these robots instead.
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Really Nice and detailed review. I totally agree with the article. Algo official is nothing but a scam. Be aware of them. Thanks for sharing the important topic with us.