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Algopound allegedly is an expert MetaTrader advisor. The platform offers Forex trading services to investors. The investment company promises investors they will earn a profit of 75% within three months. Unfortunately, this is a scam company that you should keep off.
They claim it is the time to start earning even as you sleep. They assure traders they will earn from $2000 up to $3500 in less than three months. The platform takes a management charge of 25% of the net profit that their client earns.
The company brag they are 100% transparent. They display 24/5 live trade in their platform. Algopound is a company that can convince investors to invest with them with their financial narrative. However, before you invest with any company ensure you perform thorough research to avoid being conned.
Algopound claims their trading software is entirely free. The platform state they have an MT4 trading platform. Thanks to technology, you do not have to spend a lot of time trading manually.
Nonetheless, numerous scammers in the industry are ready to steal money from innocent investors. Algopound urge clients to deposit funds and wait for them to trade for them to receive high earnings.
The platform guarantees investors they will save money by venturing in their firm. As an investor, you won’t waste a lot of time performing fundamental and technical analysis. There are better Forex trading investment companies that will help you attain your financial goals.
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The platform allegedly is ranked number 31 as the best trading software in the market. It would help if you did not believe their word blindly. They have statistics on their website that shows the amount of money that they have successfully traded, and the number of time it has lost.
The owner of this platform is running it behind the scenes. There is no information available of who he/she is, and we left to wonder why are they operating anonymously if at all they have the best trading software in the industry.
Any legit developer or creator will let the world know they have developed a top-notch software. Moreover, there is also no available data on the Algopound.com team.
You have the right to know who is handling your money. Avoid investing with ghost founders/team. The deal of this platform is too good to be true.
Usually, trustworthy companies do not operate in this manner. The owner of the platform will be actively involved, and there is enough information regarding them.
Algopound.com False Results
Algopound features backtest results that cannot be trusted. The simulations that they display cannot verify their trading system is indeed profitable.
Additionally, they have MyFXbook screenshots that are meant to show their live trading performance is legit. Sadly, the information is also false.
MyFXbook tracks trading systems performance. Unfortunately, when we looked up Algopound data on their website, we found nothing.
Hence, Algopound is not a reliable platform MyFXbook is not tracking their activities, and the only reason the display this information is to gain the trust of investors. If you proceed with this platform, you will only lose money as nothing is guaranteed.
Algopound Customer Support
Before you invest in any platform, you need to ensure the customer support team is active. Excellent customer support is a necessity for any business. Algopound have not discussed the information about their support.
They have availed an email address; email@example.com. If you have a query, you will have to leave an email for them. Top Forex trading platforms will offer a telephone number for their investor to reach them faster.
You might have to wait till eternity before you get feedback from this shady company. Avoid them at all cost for the sake of the peace of your mind, and security of your funds.
Safety of Funds
Your money will not be secure in their system. First of all, Algopound does not offer banking information. You do not know who is handling your money. The next thing that you should keep in mind is that this platform is an offshore company.
They may exit the market without being traced. Additionally, Algopound, work together with unregulated brokers like Multibank FX.
To earn money from this platform, you have to open and fund your account, or else you won’t be able to use their bot. Algopound will make money at the expense of their clients.
They will receive money for every deposit the new users make. Moreover, the information you share with this platform is not safe as they may use it against you.
Algopound is accepting investors from across the world. They, however, feature no information regarding their regulation or registration status. We can all agree the platform is operating against the law.
The company does not disclose the location where they are based. Hence it won’t be easy to trace them if they exit the market. We checked with FCA, CySEC, ASIC, FTA and other regulatory bodies, but Algopound does not appear to be in their list of licensed companies.
The various government have come up with guidelines that investment company need to adhere to for them to collect funds from their citizens. The platform may break the law willingly since they are not restricted hence compromising your funds.
The Domain Insight
During our research we were able to gather useful insight regarding Algopound company. The official domain name of this suspicious company is Algopound.com. Its registration took place in 04.12.2019 and will expire in 04.12.2021. The domain is privately registered, and the information of the owner is hidden.
Is Algopound Trustworthy or Not?
Algopound is a pyramid scheme company that is not safe to trade. The platform does not undertake Forex investment services as they claim. The platform has numerous red flags, and depositing money with them would lead to the automatic loss.
The company is trying its level best to stay relevant in the industry. They go a mile further by displaying false trading results to gain investors’ credibility. Additionally, the company makes money at the expense of their client by linking with the unregulated Forex brokerage company.
You should not invest in this platform as they do not offer any transparent services. If at all, the company is great as its marketers paint it, then they should have an unbiased online reputation. Sadly, this is not the case with this firm.
Traders and Forex signal providers do not recognize Algopound, which is a major red flag as no one is aware of their trading history. The online investment niche is plagued by scammers’ who are offering enticing deals to innocent investors without knowledge of the market; you will suffer the most. Exercise caution, and when a deal is too good to be true, always walk away when you still can.
Algopound Final Verdict
Algopound claim they are a proven and verified company that will help you gain high returns. The company state that their software will trade for you free of charge. However, their deal is too good to be true, and there is something for them.
Invest only with the legit Forex companies in the industry that will help you earn real-time profits. Keep off this system and spread the word. The company is operating discreetly, and they are not regulated. It should serve as enough warning to not invest with Algopound.