In this article you will find out why you should not use the Forex trading system Algopound.
What Algopound is about
The webpage of this trading systems says that it can make 75 % on your investment in just three months. It allegedly is all verified and proven.
You can even get the robot to trade your account for free, so do you have anything to lose? Yes!
Algopound is a scam
We investigated the claims made Algopound and we found out that they are false.
The website also shows some screenshots from MyFXbook that are supposed to prove the live performance of this EA. But they are fake.
MyFXbook can track the performance of trading systems, but when you make a search about Algopound on its website, no systems are found.
This means that MyFXbook is not tracking any system called Algopound and the screenshots they show us are fake.
All in all, there are no proofs about its real performance and since the screenshots with results are fake, we must assume that it is losing money.
How it works
As you can see on our picture, they will push you to an unregulated broker called Multibank FX, you will have to open a live account with it and deposit, otherwise you won’t be allowed to use the robot.
And people behind Algopound are getting paid for every new trader that will deposits money, this is how this scam works.
Algopound is a scam, the profitable results they show you are fake, stay away from it, don’t let them trade with your money!
If you want make money in trading, you have to learn trading by yourself, build a solid strategy. Start on a free demo and don’t invest real money until you are ready and understand all the risks.
Forget about free robots, they all are crap.