The EVOTRADE Scam! How I Lost Everything!

The year 2022 got off to a very, very bad start for some trading robot businesses like EVOTRADE. Now it’s the turn of yours and their trading robots to announce very bad news. On this blog, I share my experience in passive investing on the path to financial independence, and I share with you my successes but also my failures. Unfortunately, the start of 2022 has gotten off to a bad start with failures. I’m happy to share with you. Six months ago, I was able to create a page dedicated to this trading robot. I made a presentation where I included affiliate links, but these are no longer relevant. I found it to be good, it performed well, and it suited me perfectly. In that presentation page, I already warned about the risks of this robot and that it was important to always secure your investment and also to diversify your investments. This is truly the number one rule to follow for long-term success. Unfortunately, we have real proof that if you don’t diversify your investments, knowing full well that these businesses can stop overnight.

How I lost my entire investment with Evotrade – The Smart Investor

Step 1: Withdrawals blocked due to a small investigation, nothing serious at the time

A few days after depositing my funds, I started having problems. The communication was focused on something insignificant. Withdrawals were blocked, but only due to a small, routine investigation. They were even able to present new projects with the arrival of a crypto robot active every day.

In the context, it was mostly good news, but they still started blocking withdrawals. When a platform of this type starts blocking withdrawals, it’s often not very good news. Personally, at that point, I really believed the project would resume because it was only a small investigation. We were a little worried, but there was nothing we could do about it because we couldn’t withdraw anyway.

Step 2: New information and confirmation of EVOTRADE’s fate

Investors received confirmation of very bad news for their money. During the investigation, the Indonesian police arrived and had already blocked the premises while the investigation was ongoing. In Indonesia, there was a real witch hunt against Indonesian trading robots, as well as brokers who were not in compliance. The police conducted investigations everywhere, very organized and supervised. A communication from the Indonesian community was sent stating that EVOTRADE did not have all the licenses and permits required for this type of activity. The CEO was probably even in prison. At that time, we were predicting a rather bleak future for the company and our invested funds. We don’t know when or if business will ever resume.

Step 3: Proven scam by EVOTRADE, the same operating method as Ai Marketing

All previous communications were very poor, and it looked like another AI Marketing platform using the same methods. Just like AI Marketing, withdrawals had already encountered a problem in October 2021; they were also blocked.

According to the communication we received, the technical team was in the process of resolving the problem. Each time, they postpone it until, probably, a permanent closure. This method of operation is also being implemented by another trading robot: ATG 5.0. As I write, only certain withdrawals work with the platform’s crypto. Unlike ATG, EVOTRADE gradually began to stop operating the robot. In fact, trades continued to take place until the beginning of 2022, then the activity stopped completely.

Step 4: Closing the Unicorn FX Broker

Like all other investors, I had deposited my first capital into the Unicorn FX broker. The Evotrade robot was therefore connected to this account to carry out the various trades. I noticed a few days ago that the broker’s website was no longer fully available. All my funds are completely lost, and I will never see them again. As with all my investments, this was money I was willing to lose and didn’t need to support myself.

What’s the problem with Indonesian trading robots – The Smart Investor

If I ever trust a foreign trading robot again, it really needs to be secure, have a long history, and be well-rated. And the main thing is that this broker has all the necessary licenses for the platform to function properly.

The problem with these Indonesian robots is that they perform so well because they also own the broker. They create their own fake brokerage linked to the robots, which is the same company. That’s the problem: the robot stops at some point, or if they want to leave with the cash, they have all the access! So they can leave with the money easily and, above all, very quickly!

The scores of these robots are dizzying, with 20, 30, 40% per month, except that the day they decide to stop, or the day there’s a check, you lose everything!

What is my advice for trading robots or new investments?

If you’re approached or see videos talking about a miracle solution with returns exceeding 20%/month, be very careful and find out about the company’s origins.

I recommend you turn to more secure platforms, certainly with lower returns, but which will last over time. If you really want a trading robot, you can find one for free by registering on Bybit or Binance.

If you don’t want to go to Bybit, you can code your own trading robot! This will be the subject of another specific article showing you how to code your own robot. Feel free to send me a message to let me know if this might interest you.

Are Indonesian trading robots still viable in 2022? – The Smart Investor Conclusion on this adventure with EVOTRADEYou’ve probably figured it out, but I didn’t have time to secure my profits with EVOTRADE. So, I have about $400 in capital plus the $300 license, which makes a total of $700. Unfortunately, I wasn’t able to withdraw all of my investment. That’s okay for me because you pay to learn too. I lost a little, so that’s why I want to share my failures with you too. Because we learn from our failures, and I’m also learning by sharing this article. I hope you’ll learn without perhaps having to pay for them.

If you want to invest in more controllable things and not have your initial capital stolen? I recommend investing in REITs like Brick or Realt. These platforms offer you a return of 10% per year (much less than trading robots, but much safer too). I’ve created fact sheets explaining these different investments in detail. Key Takeaways from Evotrade

Details

Start of the Experience

Difficult start to 2022 for some trading robots like EVOTRADE. Sharing experiences of passive investing towards financial independence, including successes and failures.

Problems Encountered – Withdrawals blocked due to an investigation. – Confirmation of bad news for EVOTRADE, including actions by the Indonesian police and the lack of necessary licenses. – Proven scam similar to that of Ai Marketing. – Closure of the Unicorn FX broker, resulting in the loss of all invested funds.

Problem with Indonesian Trading Robots