- 1 About YourAlgo
- 2 License and Registration of Your Algo
- 3 Safety of funds with Your Algo
- 4 Scam or Legit Your Algo
Your Algo (Youralgo.com) is claiming to help investors thanks to their unique copy trading robot. The robot claims to have the best algorithm when it comes to trading strategies. These could all be helpful if the bot produced any viable results. They claim to be FCA regulated another selling point which users need to be careful with. These are developers who have a questionable trading history. Nearly all of their products end up making investors lose funds. Find out more in this transparent YourAlgo review.
The creators claim to be experienced traders who hail from Amsterdam, Netherlands. They claim to have fallen in love with automated trading and decided to create trading algorithms. This was way back in 2006, according to their about us page. Today, they claim to have created the perfect trading app. Traders looking to trade automatically can use the app for this service. It all seems to be a fairy tale story of developers with a desire to help traders. At least that is what the robot tries to convince investors.
Investors who make a wise decision and use Credible Forex trading robots profit. It is the safest way to ensure investments are in good and capable bots. These robots are genuine and transparent in their entire trading venture.
Your Algo is another robot that is new and claims to have the winning formula. A number of developers have come up with the same sales tag. Most of their robots end up being false online apps with no credibility. And this is why such a bot must be exposed by all concerned parties. The bot has no credible trading history or proof of ever making a profit. Developers even fail to inform users of how the bot is able to make a profit. And this is one area where investors need to know how trading software works.
Assets traded on the bot
They claim that Your Algo is 100 percent automated and is used in the Forex market. What these developers fail to mention is how the bot is capable of making a profit. A genuine bot will give step by step details on how the robot works. This robot fails to give users a few important details on the Forex assets traded. They fail to mention the types of currency pairs that the robot trades with. Does the robot also deal with Crypto and exotic currencies? These are the vital details that the robot knowingly fails to inform investors.
Business Owner of Your Algo
The disclaimer at the footer of their homepage claims that the bot is powered by Pelican Trading. According to other sources, the bot is actually owned by iForexRobot. The parent company is another known scam developer with a number of suspicious trading apps. They claim to be located in the United Kingdom which is another lie. These are probably developers who want to steal investments from unsuspecting investors. And this is why we have to inform our readers on the dangers of this app.
There have been a few comments from investors who signed up with the app. Four out of the five comments reveal what we were afraid of. The robot does not in any way offer real trading services. Four of the investors have had their investments diminish after using the automated trading robot. The one review that is positive is probably a hired comment. These scam developers will do anything in their power to ensure investors sign up. They even hire actors to be in promotional videos claiming to have won with the robot.
Domain Details of the app
After checking out their domain registration details, a couple of questions popped up. It would seem that Your Algo is a website from way back when. Records indicate that the website went live on 11th June 2017. This is an indicator that the product is from another owner or has changed names over time. According to domain tools records, there have been 10 IP changes for over 10 years. And this means that the website is operated by professional online scam artists. It is a good enough reason to stay away.
How it works
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The how it works part is what’s missing in their website. A closer look at how it works page reveals a jargon of information. The website is not clear on how Your Algo is managing to offer automated trading services. They claim that investors can be able to manage risks by increasing or decreasing lot size. Another feature worth mentioning is that they claim each strategy is based on live accounts. They also charge 0.014 percent per lot traded which is a bit excessive. And they still don’t inform
License and Registration of Your Algo
Your Algo is NOT LICENSED OR REGISTERED by the Financial Conduct Authority. Didn’t they say that they are from Amsterdam? We did a search on the product and did not find any platform licensed under this name. Even the Pelican Trading name is not found on the FCA’s register. And this is proof we are dealing with a robot that has not complied with trading regulations. Furthermore, they profess to have an adequate trading document which is not the case.
Disclaimer at the footer of their homepage lists 534484 as their company reference number. There are no results of this company reference number on the FCA’s list. We also checked with the company register and did not find any entity under this name. These developers are trying to throw off suspecting eyes. They believe that investors will believe everything posted on their platform. Thanks to our keen eye, we know how to spot these scams and give investors a safer option.
Limitations of Your Algo
Copy Trading Services
The main problem with this bot is that they fail to mention how the copy trading service works. It would have been ideal if they had a tutorial video showing how the robot works. Without a demo account, investors are signing up blindly. And this is cause for concern as no one should use an untested robot. Scam developers pry on unsuspecting investors and steal their funds. After depositing funds with the bot, it does not live to the set hype. And this is why everyone should be on the lookout for products owned by iForexRobot.
Another issue with the bot concerns the customer support team which is unavailable. Before using their chat services, investors must give out their names and email address. We have a problem with this is the bot is selling personal information. After giving them our work email, we started getting bombarded with promotional emails. These emails were from products that we did not subscribe to. And this is the evidence we needed to confirm that the bot is in an affiliate marketing scam group.
There are no trading results to prove that this bot is indeed profitable. A look at myfxbook reveals no such profits with the robot. The developers also failed to inform users of the profits made by any of their members. It would have been ideal and safer if we had proof of profits and withdrawal. The four members who were bold enough to expose the bot could not withdraw the remainder of their balance. And this goes to prove that the bot does not offer a money-back guarantee scheme.
Safety of funds with Your Algo
The security of funds with Your Algo is another big concern. With withdrawal being a problem, it means this is a robot scam. Other safety issues include not having a reliable and secure website. There is no DDoS protection or SSL encryption to protect users from third-party attacks. When making transactions, the process can be hijacked by third parties. And this means banking information especially credit card data is at risk. Stay away from such ruthless trading platforms.
Scam or Legit Your Algo
Your Algo is a scam robot whose main aim is to confuse investors into signing up. The review has exposed the rot within the bot and the lack of proof from the bot. Mark any of their promotional emails as spam and don’t sign up with their affiliate products.
To protect our esteemed readers, we will be adding the bot to our scam list.
Stay safe and use recommended products backed by experts. With affordable and transparent robots, trading becomes easier. These robots ensure your investment is safe and you get a realistic profit margin.