SmartAlgoTrade.com Review

2.9 · 8 REVIEWS
Updated: Apr 20, 2020 · Visit site  · Is this your company?

The SmartAlgoTrade MT4 EA is a forex expert advisor. The Smart Algo Trade,automated forex trading software for the MetaTrader platform places trades for you. The SmartAlgoTrade.com forex robot is not a martingale, not curve fit.

SmartAlgoTrade.com

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2.9 · 8 REVIEWS
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Traders Reviews

CENTRAL, South Africa,
Mar 19, 2020,
Registered user

SmartAlgoTrade not your ticket to free money

Service use: Demo

Length of use: 0-3 Months

I registered a demo account with one of the preferred brokers. The brokers are good but the Double Fx EA or SmartAlgoTrade EA is really no good. It blew my 50000 demo account and all that the support said "Forget about drawdown" look at the closed trades. In short. STAY AWAY
 
London, United Kingdom,
Mar 2, 2020,
Registered user

SCAM

DO NOT SIGN UP TO THIS BS ALGO

I deposited £500 and they blew my whole account. Its literally like a monkey managing the account. Their entries are absolutely terrible and are against the trend and they hold losing trades with no stop loss and blow your account.

They don't respond when you try messaging on telegram and if they do they say "It will reverse"

This company needs to be shut down.

Please do not be fooled by these scum bags
  1 trader has found this review helpful
Selangor, Malaysia,
Feb 6, 2020,
Registered user

BEWARE OF FREE ROBOTS

Service use: Live

Length of use: 0-3 Months

My advice is to stay away from anything that offer FREE by smartalgotrade,com that gives free bots and guaranteed 90% proftiable i.e Double FX EA, to trade provided must deposit fund into their recommended broker,Avatrade.com, I did got attracted by their offer, and deposited 300usd to trade in LIVE account. Within a week of trades, the bot blown my acc.,and when i put up a complaint, they just gave lame excuse that my equity is small when initially during their promotion of the ea, they said can start with min 200usd. so they just advised to topup more money. How this be? It's absurd to add more money if they claimed their free bot is guaranteed profitable with any small equity,but the opposite happened. Possibly, their free bots are designed in such a way as to favour the broker's gains from the losses/blown up of traders' account i.e by using two bots ; one to put Long order continuosly for few days before take turn by other bot to put Short order continuosly . So how much the gains by the first bot Long orders will drastically be reduced to zero balance by the 2nd bot Short orders. Does that meant they created a stupid robot that no need that simply place order continuosly without analyze market condition?. Consequently, my acc.got blown up and this can happen to anybody. Beware to novice traders ,never got enticed with Free Ea that is given free provided must register with their recommended broker. Sense something is not right here. My immediate action is stop using their free bots and close account with avatrade.com to bear the painful emotions of loosing the hardearned money from trying luck with Free EAs.
 
Lukas,
Kathu, South Africa,
Oct 17, 2019,
Guest

Very good

Service use: Live

Length of use: 0-3 Months

Firdt off dont be a cheapo. Deposit at least 5000. Run the bot on 6 pairs at default settings. I tweeked the settings and restarted the bot a few times, needless to say it almost blew my account. If its not broken dont screw with it. It wont see and manage the already open trades if you restart the bot. So use a vpn and 2days before nfp switch new trades off and close manual last open trades on the friday to safeguard losses. Very good bot
 
Klerksdorp, South Africa,
Jul 2, 2019,
Registered user

I have tried many Ea's, this is just another one that is a maybe....

Service use: Live

Length of use: 3-6 Months

I have tried so many over so many years. Over and over and over. 13 years of experience. This is another one over promising and under delivering. After 3 months my (recommended deposit) of $ 250 now turned into a balance of $ 306. Thank you.
BUT my open trades are = $89.32. So what if I die tomorrow?
Well, I am worse off. After 3 months that is a NEGATIVE return. In other words, a loss! Forget it.
That is what I have seen over and over. Most of this kind of "hedging" EA's die eventually. Buried under open trades........
 
United Kingdom,
Nov 15, 2018,
Registered user

I first signed up to the smart algo trade bot in June 2018 on a demo account. After a few months of observing the bot and very impressive and consistant returns, I decided to invest my own capital. I started with £500 and have already doubled my initial investment jus 2 months later. I must stress the importance of not altering lot sizes and to just keep the settings at default, and to start with 2 or 3 currency pairs in order to properly manage risk... It is the consistancy that creates the great return rate, not large single trades. Don't get greedy and add currency pairs accordingly with your balance size and it will be a fantastic (life changing) money maker! Would highly recommend! If skeptical run it on a demo account. And see for yourself
 
Haarlem, Netherlands,
Nov 17, 2017,
Registered user

See your capital grow month after month ....

I have been trading with SmartAlgoTrade since a bit more then 2 years and I have to say that this is the only true profitable EA robot I know. You can leave this robot trading on the standard settings on autopilot and you will see your capital grow month after month ! I am very happy with SmartAlgoTrade !
 
Pragh, Czech Republic,
Oct 31, 2017,
Registered user

SmartAlgoTrade - You are changing people's lifes

I have been using the robot from January 2017 and already doubled my Real account that I started with 5K. Well done guys I really like your robot and I doubt that there are no other robots out there to compare with SmartAlgoTrade. Thank you SmartAlgoTrade - You are changing people's lifes
 
Durban , South Africa,
Sep 14, 2017,
Registered user

smart algo trade best EA

I'm impressed with smart algo robotics..... if you use default settings it functions perfectly and it been making profits and also protecting my margin..... I had lost some money before when I tempered with the default settings...... it functions perfectly on VPS and you shouldn't open your own trades on a small equity and let it do it job on it's own..... functions safely on 3 pairs in a $250 equity but I had been running on a $160 equity on 4 pairs after I have made some losses trading myself and it slowly recovering my losses perfectly. BEST EA on a small equity. Use Amazon free year VPS and won't regret
 
South Africa,
Aug 12, 2017,
Registered user

TERRIBLE SERVICE AND ARROGANT ATTITUDE OF STAFF MEMBERS

I have installed their robot about two weeks ago and I lost about $2100 while I taking a shower when their robot failed to stop my trades when the market reversed and went bearish; it didn't even take sell positions as the market went down. I have notified them and sent them pictures, but they have been useless.