August Forex Golem is an expert advisor trading platform designed with system speed in mind. Trades are meant to be a product of optimized real-time signals derived from a variation of complex indicators algorithm. The initial idea of this trading robot is that there would be a special algorithm where indicators return price data in real time based on the current market movement.
However, August Forex Golem leaves more questions than answers and it is now a subject of contention as to whether this EA should be trusted or not.
August Forex Golem: To Trust or Not to Trust?
The first thing about this trading robot that raises questions is that its homepage is poorly designed. Even the very few pieces of information on the homepage are placed in an unorganized manner. The only thing visitors are shown is that the robot can work with multiple currencies and investors can put in any amount of money. So is the August Forex Golem EA a forex robot to trust or not to trust? The EA cannot be trusted, and here are various reasons why we have come to this conclusion.
Unproven Profit Claims
The trading results of the August Forex Golem robot posted on the sale’s page are just too good to be true. The vast majority of the reviews found on the Internet claim otherwise, adding that the results they get are not even near what the developers claim; a whopping 2.5 million USD in pure profits just less than 2 years it started trading.
Poor Customer Service
The team at August Forex Golem can actually take forever to reply query tickets. For the sake of testing the waters, we created a complaint ticket and sent an email to the support team at the same time but none of these messages got a single reply even after six weeks. This means that the folks at August Forex Golem do not care about customer support and do not present any help when needed.
The review results on Forex Peace Army about this trading bot are quite negative, indicating that there is a lot wrong with this robot. Here are two negative reviews from two users who actually paid for the August Forex Golem EA:
The snapshots show clearly that users are not just dissatisfied with this EA, but have also lost money in the course of using this EA.
Poor Trading Performance
The results returned by the August Forex Golem EA have not been good. A snapshot from FXBlue indicates that the robot lost a lot of money on a demo account test. This is shown below.
The results were so bad that the vendors pulled the EA from Myfxbook and deleted all the results there as well.
Why would the vendors of August Forex Golem pull the Myfxbook trade results if the EA actually performed as claimed? How come the FXBlue trade snapshots show an ailing EA which has lost close to 90% of a demo account? If this EA lost money on demo, how can it be trusted to make money on a live account?
Final Verdict: August Forex Golem is Not to Be Trusted
August Forex Golem trading robot falls in the category of those junk products that should never have made it into the market. The developers only created this to fraudulently steal money from unsuspecting investors.