Forex Kore Review: Is Forexkore.com a Scam?
A new Expert Advisor with multicurrency trading, Forex Kore (Forexkore.com) updated review, is out. ForexKore is a robot that has been in the industry for a while. With mixed reactions from users, we went ahead and investigated the platform. Has there been an improvement in their service delivery? Most negative comments were fuming at the poor support offered by the robot. With three different in-built strategies, the platform ought to work with ease. Read this entire post and find out what the EA has been up to.
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About Forex Kore
Once you land on their homepage, you will notice that they have a myfxbook profile picture. It’s a bold statement they make as it leads users to believe the platform is fully legit. Once you land on their myfxbook profile, it shows a different story. And this leads us to believe the image on their homepage is doctored. On the myfxbook profile page, their profile is missing almost all relevant information. And this is not an error one expects from a robot that claims to be reliable and transparent.
The robot may have two years in the game, but doctoring myfxbook images tarnishes their name. We have also been receiving numerous complaints that the platform does not have support. Even on their myfxbook profile, the only comment is from a user asking for the support team. And this is a clear sign that not all is rosy with this EA. There are other negative comments which we will look into with this post. Another problem with their myfxbook page is that it lacks updates for the past two years.
Affiliate program
Those who join the affiliate program are promised earnings of around 40 percent commission for each sale. We have yet to see anyone profiting from their affiliate program, which is another mystery. Those that want to join the program ask around first for evidence they pay affiliate members. There’s a discrepancy on their affiliate page as the developer has posted two commissions. One is 40 percent, and the other is the 30 percent commission. The developer should be upfront with the accurate commission users get with each sale. These are some of the reasons we doubt their affiliate payout platform.
Available products offered by this EA
As expected, the robot offers major currency pairs, which are nine in total. The homepage also has a Crypto investment option, which means they are in the digital trading market. Before taking a step in the crypto direction, they should have streamlined their Forex services. From what we see, this is a robot that wants it all. It wants to provide services in the lucrative trading world. The Crypto and Forex assets are enough to drive most users to sign up with the platform. One question that still lingers in our minds is whether it’s all worth it.
Business proprietor
The developers of this robot claim to be experienced Forex traders. There is nowhere on their homepage do we get the chance to know these experts. It seems that the designer of the website failed to leave the information on the owner. And this could be a pointer we are dealing with an anonymous team. The problem with anonymity is that it breeds mistrust amongst users. We don’t see a reason why the developer would want to hide his true identity. Even on his myfxbook profile, there is no picture of the owner. There’s a huge risk associated with anonymous trading platforms.
Comments and feedback from members and other users
We have four comments from different users on their homepage. These four come from all corners of the world, which would suggest the platform is global. There are comments from Portugal, Russia, United Kingdom, and the United States. All we see are pictures of people with names. There are no videos of anyone claiming to have won with this robot. A video testimony sells the platform’s agenda as one can ask for trading results. With pictures, these could be stock images downloaded from the web.
Domain background, features, and history
After checking with a trusted domain tools checker, we can see that the site is two years old. The domain went live on 21st May 2018. Their servers are located in Texas, and the website has a total of 26 links. IP history shows two changes over the past two years. When it comes to the security of their website, the platform performs dismally. There is no DDoS protection or SSL encryption to protect users during transactions. When making payments, hackers can easily steal your credit card information by attacking this site.
Features of Forex Kore
The robot claims to have several features under their belt. Some of these features include Adaptive market analysis, money management, multi-currency trading, and volume tracker. The installation process is easy, as users have to click on a link to start the download process. They also boast of offering precise trades that help users make money. The robot also has limited access to its platform. When conducting our updated review, the timer was one day and a few hours remaining. We do believe these are marketing tactics to make sure more users sign up.
Forex Kore license and Registration
Forex Kore is not yet a valid and recognized trading EA, dealing a huge blow to members. Once you deposit any funds with the platform, there is no money-back guarantee. With the high number of support complaints, we believe the 60-day money-back feature is at fault. Most users will only point a finger to support when asking for their funds. Without a valid license from regulators, no one is safe. And this is the main reason why we have to insist that the robot is a risky option.
By reading the disclaimer at the footer of their homepage, we can see why this platform is unregulated. Users are already warned that the typical user will not make money using this system. And this goes to show that this robot is more of a demo than a real trading program. With details showing that this robot is developed in the States, we checked with regulators in the region. Both the CFTC and NFA have not issued any permit to this robot or any developer under this entity.
Pros and Cons of Forex Kore
Available Pricing/ Subscriptions
Forex Kore is outfitting users with four different plans to choose from. The plans include Starter, Plus, Professional, and Premium. For these plans, members must pay $129, $159, $199, and $299. The starter plan comes with one trader account while the rest come with two. These plans also come with free updates, and the Plus and premium package offer VPS services. Their price model is unique as compared to other forex trading robots.
Contact and Support
With no live chat, their contact page has a ticket support verification platform. It means that you have to send your request and a bot answers the simple questions. To talk to an agent, your ticket must be submitted to support within 24 to 48 hours. A genuine platform would have offered faster options, such as a telephone number. The owner doesn’t want to tackle members' queries since making contact is a bit hard.
Performance and trading results from Forex Kore
We do have a myfxbook page that seems to have problems as there are no clear charts. The vendor has provided FX Blue charts, which is commendable. From FX Blue, we can see that the account shows 125 percent in total returns. The software was running for 47 days straight and made 85 trades per day. We do see that the platform makes fast gains, but the sample size is too small. It could be that the vendor just pulled out results from two profitable accounts.
Scam or Legit Forex Kore
There are too many unverified features with this platform. Once you combine this with the mixed comments from users, you get a blurry picture. We have to insist that Forex Kore is not as genuine or profitable as they claim. The owners hide their information and leave users guessing.
Our remarks
Before signing up with the platform, ensure the money you are okay with losing your deposit.
Stay safe and make passive income with sure and tested forex trading robots. These robots have been in the industry for years and have a proven track record. Sign up with innovative robots that protect your trading interest.
We wish all our readers the very best in their trading venture.
