WageFX is an online investment site that gives you options of managed trading or copy trading. We see that they’re using artificial intelligence for each of the option and there is a profit calculator to ascertain your profit upfront.
WageFX is promising ”profitable forex trading with proprietary AI protection”, but we found out a number of serious issues with this investment vendor, starting with the unsustainable claims and anonymous traders.
You may find more details about these and the other reasons against investing with WageFX in the following review.
WageFX is claiming to be an investment operation that uses artificial intelligence computer programs to make decisions.
Due to the algorithm of this artificial intelligence trading robot, the company claims to open, manage and close trades on your behalf.
They even claim that they work with any broker to yield safe consistent compound growth each month.
This is where WageFX is committing a big offence. By working with any broker including those that are unregulated, chances of withdrawing your deposit is very slim to none.
The only way to trade safely on the financial market is by using a broker with appropriate regulatory license and not any other broker. Because a broker that holds license with a trustworthy government agency means their business is transparent and your funds are safe.
WageFX working with any broker is a huge red flag, as they can deposit your fund with licensed or unlicensed broker. In the case they deposit your money with an unlicensed broker, or even worse an anonymous site, you are sure never to see your funds again.
We can see red flags all over the website of this investment scam. They’re currently using AI tools to convince even more victims.
In addition to that, they’re offering copytrading service where investors will copy the portfolio of their so called trusted and vetted traders. They even claim to have more than 5 years experience doing the FX business.
The names of the people associated with WageFX cannot be seen anywhere on the website. We can only assume that WageFX traders are fake or real people with no background in trading.
Surely the number of years they claim to have invested in the Forex market should speak for them, if they’re truly a real people.
Unfortunately, their names cannot be found anywhere on the WageFX’s website. This makes us feel that everything is not okay with this service.
Minimum deposit: Not available
Maximum ROI : 1% daily
Apart from refusing to disclose who owns or runs the corny investment operation, wageFX failed to reveal what their investment plans look like. You can’t for sure know what the exact minimum and maximum deposit is or see whether there is a special bonus or referral commission.
Furthermore, they claim to provide consistent long term results from trading. They’re actually advertising high daily returns which makes WageFX looks like a high yield investment operation as opposed to a genuine investment operation.
1% daily result is of course a big fat lie as the people running WageFX website are anonymous and secondly, their WageFX myfxbook result is showing a return far lower than the advertised result.
Their myfxbook trading history shows that, so far, they were able to make absolute profit of 0.86% and drawdown of 6.05% from February till date. The average monthly gain is 0.56% which is far below the promised returns if you do the statistics.
Drawdown of 6.05% shows that losses highly exceed gain, and if you probably have invested in February this year, your account would be running in negative balance by now.
The worst thing is that this company never disclosed the people trading on this account, and as such, they people that will manege your account is 100% anonymous.
Nothing can be trusted out of this company’s website. It looks and feels like a HYIP program because all the red flags are present.
I hope no one falls for these simple tricks because obviously the kind of returns advertised here are unrealistic and unattainable on live trading.
Thanks for reading the WageFX review. Let us know your thoughts and opinion on the comment section.