Published on August 24th, 2017 | by John Kane0
Software Review: Algo Official (Algofficial)
Summary: Another automated binary product that's lacking in the most important areas.
Today I’m reviewing and analyzing a new binary options software that promises intelligent trading based on trusted algorithms, Algo Official. This trading tool is fully automated and was created with the idea of letting you “sit back and let the money roll into your account.” Whether or not that’s a viable possibility is what I’ll be getting down to the bottom of today with this in-depth analysis.
The first negative element in the review, is that there is no information on the creators of the software, their location or their experience in the binary options marketplace. On top of this, the only way to get in touch with the developers is via a contact form at the bottom of the webpage. I highly recommend that you emailed this developer before signing up to see what type of support they provide, and if they have any more information on the service. There is really too little to trust at this point.
Algo Official Review
The sales page website is much too simple. While this is a commonality in the binary options marketplace, I tend to stay away from systems like Algo Official that can’t or won’t provide real insight into their trading product. The majority of the information on the sales page is fluff, which doesn’t go into any detail. This type of marketing is frequently used by people that want to sell trading systems without actually understanding them. Personally, I prefer purchasing trading systems from actual traders, for the obvious reasons.
The creators of this system want us to believe that with 3 simple steps we will be in the perfect position to succeed. We are told that all we need to do is register with their recommended brokerage, connect the trading account to the algorithmic system and then “watch the money roll into” our accounts. I find this very difficult to believe.
- Type: Automated Binary Software
- Price: Broker Deposit
- Strategy: Algorithmic
All I can really do is say that the Algo Official strategy is algorithm based, because that’s all they tell us. Yet, that doesn’t mean that they actually have a fully functional strategy. Hundreds of thousands of strategies can be algorithm based, trend based, price action based, it doesn’t matter. A strategy can be based on many different principles, but just knowing the root principle doesn’t give anyone enough information to know if the software is truly profitable.
In terms of trading results, the creators show us to screenshots of different trading strategies they’ve labeled “PLAN A – Solid” and “PLAN B – Hyper.” According to this section of the website, the Algo Official software “hit the benchmark ROI for the fourth year in a row.” This is all based on back test data, but I’m not seeing any back tests available here on the website.
All I’m seeing is a couple of charts that could be mapped in 5 to 10 minutes in Excel, with no actual data. The way that the results are presented, leads me to believe that they are fabricated and not associated with any actual trading system.
The developers are welcome to try and prove me wrong by providing actual trading results, but I’m quite certain that they won’t.
I see no reason why anyone should sign up with the Algo Official software based on the information they are providing us. They want us to believe that their software has the ability to gain over 40% per year, but they have done nothing to prove this. They have also done nothing to provide us with any information about how the software trades and what type of trade logic it is utilizing in 2017. This is not the type of system we are interested in here at Binary Today.
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