AugurForex is an innovative Forex expert advisor, designed to work on Meta Trader4 platform. This automated trading software is promoted as “a robot that automatically optimizes its trading logic” and as “a robot which is just to multiply your money as it can adapt any market condition”. AugurForex eliminates human interference. As a result, traders are not psychologically affected while waiting for trade positions and trade executions.
This trading software has been in the market since the mid-2016. Despite having a website it looks like it was built in 2000. In this AugurForex review, we will analyze this EA and try not to pay attention to the archaic website design.
Is AugurForex a Good Choice?
We have decided to provide Augur Forex with a low mark.
Our decision is based on:
- The fxblue results provided on AugurForex website are inactive now
- No drawdown performance data
- No customer reviews
- Lack of vendor transparency
Features
One of the main AugurForex features is that it “can adapt any market condition”. The developer of the EA also adds that this is the “first time in the history of Forex auto trading”. However, it is not true. Nowadays it is a common thing for most of Forex robots.
Trading Strategy
The trading strategy of this automated trading software uses 15 technical indicators and “a comprehensive mathematical formula”. This is not enough information on the trade logic. However, we are told that EA uses hedging strategy at times of unfavorable market conditions. In addition to this, traders can set up Risk Percentage to know how much of their trading account they are risking per trade.
Price
AugurForex is being sold for $299. Let’s have a closer look at this trading tool to decide whether it worth its price.
Trading Results
The vendors of this trading tool are providing us with a fxblue account on their website.
This trading account is showing a gain of +33.7% in just 38 days. Its monthly return is equal to +24.3%. The trade win percentage is 81.5%, and it is a good statistic. It is trading EURUSD (1 trade), XAUUSD (1 trade), and GBPUSD (198 trades) currency pairs on the popular MT4 platform.
The account deposited 50,000 dollars and gained 69,608.75 AUD. The profit factor is only 1.32. The trade length is 12.5 hours and it has 5.3 deals per day.
Its balance chart has been showing a constant growth of profit since the day of its activation to May 1, 2019.
Taking into account that it had a stable income, it is strange that this account has been trading for 38 days only. What happened? What was wrong? We have many questions that need answers.
In addition to this, there is no information about drawdown performance:
It looks strange.
No Customer Reviews
Customer reviews are a key part of any FX robot review. They provide us with a clear understanding of robot performance. Unfortunately, we have not found any customer review neither on forexpeacearmy.com nor on the other third-party website.
Vendor Transparency
On whois.domaintools.com we have found that the website was created on June 23, 2016. Their IP location is Arizona – Scottsdale.
David Augur is the creator of the AugurForex robot. Unfortunately, we do not know if other developers are working on this EA because we have found no information about their team on the AugurForex website. To get in touch with support, traders can send a message via a contact form on their “Contact Us” page or send an email to [email protected].
