When you visit the Altredo website, you’ll get easily overwhelmed by all the stuff they’re showing you. There’s too much to follow through, and even the poor design and color coordination can make you take a step back. They create auto systems for all trading niches: Forex, Stocks, Binary options and bitcoin too. But for sanity’s sake, here we’ll review one of the forex robots from them and assume it’s performance is the performance of Altredo systems as a whole.
Altredo Trading Systems
The developers of Altredo systems don’t explain who they are but some of the information hints they are based in Israel. They vaguely claim to be Metatrader developers and this forex robot we’re about to review is based on Artificial Intelligence.
Forex 3D Signals Indicator – as the name suggests- is ‘based on Neural Networks in 3D dimensions to provide statistically accurate and reliable signals in real-time’.
Of course, this doesn’t explain in layman’s terms how these AI algorithms are generating the signals. But if you’d like to know more about this, here are some ways to contact them.
- WhatsApp: +972 543 982 553
- Email: [email protected]
- There’s also a telegram channel you can find them through.
Currency Pairs, Timeframe
They say that their systems can work in all currency pairs and all timeframes. And you can get ‘$3000 profits per 3 days and it’s the best way to grow even the smallest of accounts quickly without lifting a finger’.
Hold on! Now, this sounds like some get rich quick dream you’re getting sold here.
And if you’ve picked it up already, this screams SCAM!!
Besides, they have a ‘badge of honor’ on their website claiming to be the ‘best forex EA 2019’.
So despite saying they trade all pairs, one of their Myfxbook accounts shows they were trading only GBPUSD. And most trades last for less than 3 hours.
One thing to note is that all their Myfxbook accounts are run on demo. Meaning that they’re selling you a forex robot that hasn’t even made them money. Their Risk: Reward is 1: -0.95 meaning for every $1 you trade with their forex trading system, you only get back $0.95. In the long run, you’ll end up losing not making money.
The demo account presented was tested for only 2 months from Jan 29 to March 29 earlier in the year. During this period the account garnered an astounding 300% profit increase from $5K to $15K. This might seem impressive. Until you understand that to generate results that fast you’re using an aggressive martingale strategy.
True to it, this $5K account traded 128 lots within 2 MONTHS! Try that on your live account and you’re toast.
This forex EA they’re selling at $360. It’s proven to generate their claimed 260% returns within a short time. But we’ve established that their methods are quite aggressive and not something you should do on your live account.
Besides, isn’t it interesting that for more than 4 years they’ve been selling a system they’ve never used on their live accounts? All accounts on Myfxbook are a demo. And even a client who purchased says he couldn’t use on his live account. It was operational on the demo, but not on live.
So there’s a high probability you’ll never make money from this $360 forex robot.
Recommended Broker And Balance
One of the brokers they use is Alpari. As for balance, $1000 would be okay to start with.
From the website, they claim their systems can make consistent profits in all markets. And you can make 500+ pips per month. Considering in the 2 months they opened more than 600 trades, then hypothetically each trade was worth less than 2 pips.
Now since that’s not viable, let’s calculate how many pips each trade generates.
This client said of 100 trades on demo, 42% won. 58% losses. Of the 600 trades they opened, that translates to only 252 trades winners.
Assuming in the 2 months they achieved 1000 pips ( which they didn’t) then each winning trade is just about 4 pips worth.
Not anything you should aim for.
They don’t have any positive reviews anywhere. Customers claim their customer support is very poor and rude. And the forex robot indeed doesn’t work.
It’s proven that indeed, the robot doesn’t work on live accounts. So that should be an immediate reason to NOT bother with this robot. Also, the rude customer service where a client is threatened to a lawsuit within a single phone call is enough to make you stay away from Altredo.