Algo Official is a trading software, that can generate and execute trading signals for you on your account. The robot can trade Forex, stocks, commodities and indices. According to the presentation, Algo Official is a profitable robot that will make you money.
And the robot is allegedly free, so does it mean free money? No.
Algo Official scam
But we tested Algo Official anyway, we wanted to see what scammers came up with this time. And in this case they use the usual trick of the fake demo.
When you register, you will be given access to the trading software that has a demo mode. But the demo fakes trading results, it shows losing trades as winners, so results are totally unreal, they don’t represent what you can expect in trading with real money.
So in the testing mode you will see a lot of nice profits coming in, but the majority of them will be fake. This makes Algo Offical a scam. We are sure that in trading with real money it is losing. But what is it good for?
How it really works
People who run Algo Official are affiliated with a certain unregulated broker that is paying them for referring new depositing clients.
This is why they crated the software with the fake demo, they need you to believe that they can earn you money, so that you sign up and deposit through their software with their broker.
If you do it, scammers will earn their affiliate commission and the Algo Official trading software will then lose your deposit in trading. End of a sad story, you will never get your money back.
Algo Official is a typical scam that is trying to fool you with fake profits in the testing mode. In reality it loses money in trading, stay away from it!
You can check that on a genuine free demo with a regulated broker. Money can be made in trading, but it takes testing, learning and time before you can build a profitable strategy.