Welcome to my honest Auto Forex Trading LTD review.
Where I’ll be doing two things:
1: Sharing my personal experience with ‘AFT’;
2: Hoping to connect with existing and previous AFT members to get their genuine thoughts on AFT.
To help anyone who’s thinking about joining AFT make an educated decision.
What is Auto Forex Trading LTD (‘AFT’)?
Auto Forex Trading LTD (‘AFT’) is a company that creates automated forex trading systems.
The AFT website is here: http://autoforextrading.co.uk/
AFT allow their clients to use their EA (‘expert advisor’) trade copier to trade the forex markets on ‘auto pilot’.
In theory, this allows anyone to trade the markets profitably – without any experience at all.
Leading to a ‘passive income’.
AFT was incorporated on the 7th of September 2018.
Who Owns Auto Forex Trading LTD?
Samuel Gill is registered as the Director with Companies House.
According to AFT, Sam is the developer of their EA.
Sam says that he developed the EA having established himself as a successful recreational forex trader.
His motivation being ‘financial security’ after the loss of his father’s family business.
In the introductory package, Sam relates how he apparently spent more than £15,000 and in excess of 2,000 hours on developing the EA.
What is Forex Trading?
Forex trading is a bit like trading stocks.
Except you’re training financial currency ‘pairs’.
This means that you can speculate on the value of one currency as it relates to another.
For example, if you thought that the value of the Great British Pound (GBP) was to rise in value against the US Dollar (USD), you could go ‘long’ (buy GBP).
Conversely, if you thought that the GBP was going to drop in value, you could ‘short’ it (sell GBP).
What is an Expert Advisor (‘EA’)?
An expert advisor (‘EA’) is a program that will execute the trades for you automatically.
EAs can be configured to perform specific actions when certain market conditions occur.
Recreational forex traders may create EAs so they can execute their systems without having to physically be at the computer.
However, EA development is big business.
With many businesses (and scammers) selling EAs that are apparently programmed to ‘beat’ the markets and make money.
How Do You Make Money With AFT?
The idea is that you use AFT’s EA to trade the markets for you.
Once set up, this is ‘hands free’.
You don’t have to do anything.
How Does the EA Execute Trades?
There are three parts that ultimately operate as one:
- The EA;
- The broker;
- Metatrader 4 (MT4).
Here’s how they all fit together:
The EA is the program that will do the trading for you.
(AFT call the EA the ‘copier’).
The EA is managed via your own AFT member’s area account.
The broker is where you deposit your money to trade with.
IC Markets is the broker that you must use with AFT’s EA.
MT4 is the trading platform.
The EA links to MT4, which links to your broker account.
Once the EA starts trading, your profit/loss will be apparent in your IC Markets broker account.
Link to MyFXbook (Optional)
There’s also an optional step.
You can link your MT4 account to the MyFXbook website.
This allows you to track your profits/loss publicly.
Here’s mine for the AFT EA:
How Much Money Can You Start With?
£1,000 is the absolute minimum.
Any less and AFT will not allow you to trade with them.
Do AFT Have Access to Your Funds?
Your funds are held in your separate IC Markets broker account.
Which you can withdraw from whenever you like.
However, any trades launched by the EA via your AFT dashboard will be mirrored in your broker account.
How Much Does it Cost to Join AFT?
There’s a flat fee of £15 per month to cover hosting.
You’ll then be charged 20% of any profits that you’ve made at the end of each month.
You are invoiced, and you must make the payment via bank transfer.
Do AFT Have a Partner Programme?
However, when I enquired.
AFT said that the Partner Programme was closed until further notice.
My Experience With Auto Forex Trading LTD
I first heard about AFT about a month or two after they launched.
However, I was very reluctant to join.
Because I studied and traded forex recreationally back in 2007 for about a year.
At which point I concluded that most retail traders are doomed to failure.
And that just about every EA on the market was either a scam or poorly programmed.
So, I couldn’t see how AFT was going to be any different.
Why did I change my mind?
Fear of missing out (‘FOMO’)!
FOMO might just be the oldest sales tactic in the world.
But as I started to see the positive reviews pile up on Facebook…
I started to think:
‘What if it really works…?’
So, I deposited £1,000 and set up the EA.
Did I Make Any Money With AFT?
I made £28 using their EA.
Am I Still a Member of AFT?
I pulled my funds out of IC Markets just after Christmas.
My time with AFT lasted a few weeks.
Why Did I Leave AFT?
The level of risk involved is just too high for my own personal liking.
Although the EA eventually closed out for a profit.
The depth of the drawdowns was more than what I felt comfortable with.
For example, if you look at the image above.
You can see that the maximum recorded drawdown to date is 32% of the account.
That’s a lot!
Plus, I have some doubts about the integrity of the EA.
Does Their Expert Advisor Work?
I have my reservations.
Although I cannot prove it, I feel that the EA is running a Martingale-style loss recovery trading plan.
Why do I think this?
Because the ‘large drawdown for a small profit’ model is something that I’ve seen a million times whilst testing and reviewing betting systems over the years.
It’s popular with high strike rate systems to create the illusion of an edge.
Despite lacking one.
The truth will come out…
In nearly all cases, such systems will blow up.
Because eventually ‘mean regression’ occurs.
And the true value of the system is exposed for what it really is.
But I need to be clear…
This is just my personal opinion.
And I could certainly be mistaken (I really hope that I am).
It’ll be interesting to see if the EA can withstand the test of time.
Is Auto Forex Trading LTD a Scam?
It’s too early to tell, in my opinion.
Plus, I have no way of knowing the true intentions of the company.
It could be that they are trying very hard to create an awesome EA that works.
And they may be refining the system to reduce the severity of the drawdowns.
Or, they might be using revenue-share broker affiliate links to hedge their position using their clients’ funds.
I guess we will have to wait and see what happens.
I really do hope that AFT are legit.
Because this system could work wonders for anyone looking to generate ‘true’ passive income through the effects of compounding.
Would I Recommend AFT to Others?
Based on my own experiences?
Because the problem with investments like this is that you have no real control over what happens.
And from what I’ve seen so far.
There’s just too much risk involved.
AFT Conclusion: Caution Advised
You’ll notice that I’ve not given Auto Forex Trading LTD a star rating yet.
That’s because I’m still on the fence at the moment.
Although what I’ve seen so far does worry me.
I do acknowledge that things may change in the future.
So, at this point, I’m going to hand over to you…
What’s Your Experience With AFT?
What are your honest thoughts on AFT?
Do you think that their EA is the real-deal?
Did you make money with AFT?
Let me know your thoughts and experiences in the comments section below.