Augur Forex is an automated forex robot that is designed for the MT4 platform. This robot promises to multiply your money by adapting to any market condition while you sleep. The vendors claim that the robot uses 15 technical indicators to predict perfect trading entries. The price tag is $111 and it trades on the M1 timeframe. Though, it can trade all currency pairs, but the vendors recommend the very popular EURUSD pair for best results.
To show how profitable the Augur Forex robot is, the vendors presented the trading results from myfxblue.com. The presented results show that it made profit for some time before losing all the money in the account.With all these claims from the vendor, our concern is this. Can this robot be trusted?
Augur Forex Robot: To Trust or Not to Trust?We will look at some of the problems identified with this robot. They are:
- Abysmal Trading Results
- Unprofessional Website
- No Back Tests Data
- Robot Inactivity
- No User Testimonials
Abysmal Trading Results
The trading results presented by the vendor of this robot shows that the robot blew the account in less than four months. Fortunately for the vendor, the account presented is a demo account. But this raises a series of questions whether the product is even trusted by its vendors. Why will a vendor use a demo account to prove the profitability of his robot? Why will the vendor trade on a demo account but wants us to buy the robot and use it on a live account? It shows that the vendors do not trust the robot. If it is actually a money making robot, why not use it to make money? In fact, from the demo account presented, this robot has very huge drawdown.
This is another snapshot of a demo account traded on Alpari using the Augur Forex EA. Again, we see an almost total decimation of the trading account after some initial success. This points to the unreliability of this robot.
The official website (www.augurforex.com) looks ridiculously unprofessional for a vendor selling a money-making robot. The website is poorly designed and is just a cheap, 5-page website that does not inspire anyone. If the Augur forex robot has been bringing in money, why could the team not hire a professional web designer to create a befitting website that will add credibility to the product and improve sales?
No Back Test Data
The vendor of the Augur Forex robot did not provide any evidence of back tests conducted on this robot. The normal routine is to develop a robot and then spend considerable time (sometimes 2 years or more) back testing the robot before launching it out for sale to the forex trading community.
The myfxblue trading account presented by the vendor of this robot showed forex trading from 29th October 2017 to 11th February 2018 when the account was blown. Since that time, there is no evidence that the Augur robot has been in use at all. The website has not been updated with recent results or any evidence of trading at all.
No User Testimonials
Conclusion: Augur Forex Robot Cannot be Trusted
From all indications, the Augur Forex robot is not to be trusted. There is no evidence to show that the robot works. Even the demo account presented by the vendor did not show good results until the account was finally blown. Generally, the website and style of operation of the vendors of this robot is indicative of a scam product which does not work. Please, avoid the Augur Forex robot as it cannot be trusted.