Algo Signals Review – Is a Scam?

Algo Signals Review – Is a Scam?

Welcome to the Algo-Signals review. On one hand, (don’t confuse with suggests that it is a signals service for Forex and Cryptocurrencies. But on the other, it claims to offer automated trading strategies for FX and Cryptocurrencies.

Other assertions which Algo Signals is making is that they are a top-rated Cryptocurrency signals, Forex and Bitcoin signals service.

But there is no proof that Algo-signals was measured against its competitors and found to be indeed a ”top-rated” signals service on the internet.

Note: Our Forex trading community members are currently using these Forex EAs. They are very effective and stable.

This statement is overrated and even misleading because Algo Signals is not able to back it with proof.

Therefore, in this Algo-Signals review, we want to declare that this is a scam, and you should not expect that you will ever make money with such a trading service.

The reasons have been listed below:

However, if you’re truly looking for a good Forex and Cryptocurrency signals service, here are the details. Contact us if you can because we’d love to help you.

Algo-Signals Review

There is a short sales video on the homepage which tells us that Algosignals is a ”world-class” trading signals software.

Against what standards? Which software or trading apps for FX and Cryptocurrency signals has this software been measured against to make such a bold statement?

Algo Signals review

They are also lying to us that they are only using regulated brokers, yet we know that they are using an unregulated broker called Myfintech.

They’be even listed down a number of features on their site which might appear attractive to those new in trading.

The website has a professional layout and user interface. We do appreciate this. However, what we hate are the misleading statements and promises which this site is making at the expense of you losing your funds.

Everything is geared towards enticing you to open a free account with the aforementioned unregulated broker.

That is why they are telling you to open a free account and test Algo-signals just to see how it works and what kind of profits you could make.

The promises which they are making include:

-Access to a wide range of trading assets

-Chance to trade with $1500 virtual money

-Seamless transition from a demo to a live trading account

-User friendly live trading room

In reality, these features mean nothing because you will still lose funds anyway. If you want to have more evidence that is yet another scam, keep reading this review. review – the truth

When a site makes trading sound so easy, it means that they are trying to distract you from the truth.

I can assure you that trading isn’t quite easy. Unless you are willing to learn the skill or use a decent automated Forex or Cryptocurrency robot that is truly coded to do the work, you will never make it in trading.

And if it were very easy to identify the robots that works, everyone would be a multimillionaire by now.

If it were easy to make money with trading, there would be no poverty or sign of it in the world.

So these people are definitely lying. The reason Algo-signals sounds too good to be true is because it is not real.

Algo Signals Review – the fake demo account

Since testing Algo Signals is free of charge, I took my time to test the software to see if indeed it was meeting and exceeding standards as proclaimed on the sales page.

After testing a currency pair like AUDUSD, it was immediately clear that the demo was giving me fake results.

The results suggested that my returns had been doubled in one trade. This did not catch me off guard because I have seen this demo account many times before.

I know this trick very well, and even several traders on the internet have complained that they got scammed through the demo which was giving them different results from what they got on a live account.

In addition to this, Algo Signals claims that they are offering live data streaming to help boost our trading experience.

This live data feed isn’t something I want to talk about because usual broker data is what they mean by ”live market data feed”.

Don’t be fooled. They are also referring to it as ”lucrative trading”. This is such a big word in trading, and only scams love to say they are lucrative.

Let’s keep things real for a moment. Algo Signals reminds me of Algorobotics, zTrader, Bitcoin Robot 24, Bitcoin Profit Now and many others.

Algo Signals Review – it’s free!

Have you asked yourself why on earth a ”good” trading robot would be offered free of charge?

Does it mean the developer doesn’t want to be compensated for burning the midnight oil in order to come up with a ”ground-breaking” solution?

Rest assured that this isn’t the case. The truth of the matter is that AlgoSignals is a scam, and they want to refer you to an unregulated broker whom they are affiliated with.

Once you try the fake demo and you are pleased with the ”results”, you will be tempted to place a deposit. That money will be stolen in broad daylight. That’s not a secret.

Algo Signals review – the conclusion

Having said that, I do not expect to find complaints that traders have been scammed by this website.

It is a big shame. The brokers they are working with have no license. The promises which they are making on their site are meant to make you believe that the opportunity is real, yet it’s not.

If you want to trade with a good broker, we have them here in this list.

Otherwise, don’t fall for this cheap crap. I’ve just given you a useful lead. The brokers above are compatible with these trading robots for Forex (which I have recommended for a long time because of their decent results.

About Post Author


Warren is a swing trader and an investment blogger. He mentors students who want to learn to trade Forex, manages investors accounts and also writes reviews about trading products.