The Social Tech Trader, which is a new Forex trading tool claims to use social technology to help traders make successful trades. Although this looks like a very interesting concept, is it really possible? Is the Social Tech Trader legit or is it a scam?
Recently, I investigated about this system and I found out that this auto trading software is a SCAM. Continue reading my review to find out why and to save yourself the trouble with this robot.
Review Verdict: Social Tech Trader is a Scam
Social Tech Trader Exposed!
Available for free, the Social Tech Trader is an app that can be used to trade in the Forex market automatically. The software uses social technology to enhance profitability when trades are executed. It has been designed so it can scan for trends in the market and spot movements which can lead to making successful trades.
The app has been created by Albert and it is quite unfortunate that we are not even aware of his last name. This means that we cannot do a Google search to find out more about him. According to Albert, the software has a success rate of about 90%. But how can you trust someone who you cannot even confirm exists?
At the top of the landing page, you can see claims that Fox Business has endorsed the Social Tech Trader as a highly profitable Forex trading tool. Fox Business has never done this for any CFD trading system or broker for that matter.
If you are in doubt, you can contact them directly through email or their contact details mentioned on their website and they will tell you that this is indeed false news about them. Or you can go to Fox Business’s website and make a quick search yourself.
Don’t trust Albert! The Social Tech Trader is definitely not a genuine software. It is a scam and there is evidence to prove this fact. First of all, the team behind the creation of the system have failed the test of credibility. From the information that I have been able to gather so far, I have not been able to verify the details of any of the developers.
The testimonials that appear on their official webpage are fake. If you take a look at other scam sites, you will find similar or the same testimonials on all of them. You can do a Google Image Search to confirm my claim. On the website of Social Tech Trader is full of stock images and video screenshots. Not one word of the provided users’ feedback could be considered true. I wonder why there is a need to share fabricated testimonials. If the software was as powerful as it is claimed to be, wouldn’t there be genuine reviews and testimonials? Wouldn’t the system have satisfied traders who would be happy to give their own feedback and share their trading experience?
Social Tech Trader Will Mislead You!
In the promotional video, there are few things that don’t make sense. First of all, there are no expiry times shown for the trades. The AUD/USD option turns to CAD/USD at expiry. On the interface, you can’t see the actual price of the options. Lastly, when you make use of the auto trader, there is no option to choose how much you want to invest. So does this mean that the promotional video is fake? The news stream also has discrepancies and lies which simply don’t make sense.
And now when we look at the win rate, it is ridiculously too high. A 90% accuracy rate is hard to believe, especially for a system like this. There is no real proof that the software is actually achieving 90% win rate. In case it was true, we would have seen real reviews and testimonials. Moreover, there is no account of the 10% loss that the software is making. Now, where did the losses go? Albert and the co-creators of the system have failed to convince us that the system is reliable and legit.
On the big box on their website, it shows live trades, but it doesn’t reveal the assets that are being traded and the trade price. At the top, you can see that profits of $834,945 can be generated with a starting balance of $500. The profits are a result of 12,680 winning trades and 394 losing trades. The information that is displayed is never updated as well.
I hope I have provided the evidence you need to at least proceed with caution if you decide to join this SCAM robot. But I strongly advise you against it. I have also come across a number of negative reviews about the system on other websites. There is no evidence that the trading results are genuine.
They have not been verified and there is no explanation available about how social networking is playing a part in the execution of successful trades for this system. What I can conclude is that the Social Tech Trader is a scam that you need to stay away from.
Review Verdict: Social Tech Trader is a Scam