Velocity Finder Neural Trader was designed based on the ‘Best Forex Trading Strategies’. We are not sure about this statement because we have no idea which ones. We have been keeping checking their products, and many of them are weird or pure scams.
Velocity Finder Neural Trader: To Trust or Not to Trust?
We don’t think so. The presentation screams that it’s a scam. The developers didn’t do anything to convince us that the indicator is a viable option to trade. We have no backtest reports. The developers don’t use the system to make profits on their own. It’s suspicious. The pricing is insane. The common BUY/SELL indicator costs $50-$80. Paying for it $450 is insane.
Features
We have some features about the system explained:
- The signals allow us to skip living on the market 24/5. The system informs us when it’s time to BUY or SELL.
- We will open deals manually without stress.
- The data is analyzed in real-time.
- The signals are provided without repainting.
- The system gives away signals only with a high win rate.
- The robot can work under various market conditions.
- It fits all trading styles.
- There’s a “unique trading logic behind.” Most likely, it’s a common Price Action and trading around Support and Resistance.
- The system can be used on the MT4 and MT5 trading platforms.
- The system was backtested well. We’re not sure it’s true because we haven’t seen any backtest report that would confirm this statement.
- We can start without any previous trading experience.
- The developers don’t want to tell us about the trading strategies behind the system.
- The system can be applied to any time frame, and it’s suitable for any currency pair.
- The indicator uses unique analysis patterns and predicts where the market goes quite accurately.
- We can rely on the 24/7 welcome and knowledgeable support.
The indicator costs an insanely high price – $450 for a digital lifetime copy. As we mentioned before, there’s an endless wall of indicators presented on the MQL5 that costs less than $100 for a lifetime license that can be used on several computers at the same time. The package is featured by an indicator and free updates. The support is delivered via chat one-to-one.
Verified Trading Results
The presentation doesn’t include backtest reports. It’s awkward when the developers mentioned it but decided not to provide it to ensure us that everything was truly well tested. These reports would help us to understand what win rate and profit factor we can expect from trading on the real account. Of course, real trading usually is much worse than backtests, but anyway, it’s how everything should be introduced.
We also don’t have trading results provided. We don’t know why the developers decided not to use the system to trade on the real account. It’s a significant con because we are offered to buy a cat in the bag. Verified trading results will help us to understand what currency pairs work better than others, accuracy rate, the best and the worst trade results, profit factor, and average trade length before the deal reaches its Stop Loss or Take Profit level. Factors like leverage, broker, type of account, and the minimum deposit requirements are important too.
Vendor Transparency
We have several pictures about the company and employees revealed. We don’t know when these photos were taken and what the result of that exhibition was. There’s no information about the company registration and especially the refund policy. Paying $450 for developers who don’t want to support us with a money-back guarantee is weird. MQL5 doesn’t support refunds too, but the pricing is much cheaper there.
People Feedback
We have some feedback published on the site from no-name people. Their posts look like paid texts because neither profits nor other details that usually people share with others were mentioned.
The time of typical replies of 32 seconds sounds like a scam. So, we can’t trust other data as well, like 87% of the success rate.
Other Notes
There’s a Wetalktrade page on Forex Peace Army with a 3.7 rate based on 33 reviews. The site robot informs us that the company uses a fraudulent way to promote the page.
The first person mentioned that the signals aren’t profitable and there’s a low accuracy rate.
This client pointed to their horrible technical service because the developers try to force people to buy their indicators ASAP. The indicators don’t make real money.
We have a page on Twitter where there are 1999 followers. The page was created in 2014.
The LinkedIn page shows us that there are only three employees on the board.
The most crowded page is on Facebook, with 11,523 followers. As we may note, the company’s office is located in Delaware in the US.