FX Oracle AI – Is It Legit Trading Platform or Scam? Honest Review

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  • Post published:February 12, 2024
  • Post category:Reviews

In the world of financial trading and investing, numerous platforms promise traders easy money and huge returns. However, the sad reality is that many of these turn out to be scams or lacking in substance.

Determining the legitimacy of a trading platform is crucial before committing your hard-earned money. So, in this extensive review, we take an in-depth look at FX Oracle AI to ascertain if it is a legitimate trading platform or an elaborate scam.

FX Oracle AI markets itself as a disruptive fintech company that provides social trading technologies and tools for forex traders, investors and network marketers worldwide. But does it live up to its claims? Let’s find out.

FX Oracle AI Review: Overview of the Trading Platform

FX Oracle AI

is an AI-powered social trading platform that aims to connect forex traders globally so they can copy trades of top-performing traders automatically. The company provides a suite of trading tools including trade signals, copy trading capabilities, and social community features.

FX Oracle AI allows traders to leverage AI and automation to copy profitable trades executed by vetted strategy managers or signal providers. The platform essentially serves as an inter-broker social trading network. You keep your trading capital in your own broker account while copying signals from strategy managers on FX Oracle AI.

The company claims to use AI algorithms to analyze market data and identify potentially profitable trades. These algorithms supposedly scan the markets to detect trading opportunities across currency pairs, binary options, commodities, indices, and cryptocurrencies.

FX Oracle AI enables traders to leverage the skills and market insights of reputable strategy managers who have a verified track record of profitability. By copying their trades automatically, traders can benefit from expert analytics and potentially generate consistent profits.

The company was founded by Moses Joseph, aka MjYoung, a veteran forex trader with over a decade of market experience. The platform is based on Mr. Joseph’s vision to empower forex traders globally through AI and social trading technologies.

What Does FX Oracle AI Offers?

provides users access to the following core features and services:

  • Auto Trading Bots – The platform offers AI powered trading bots or Expert Advisors (EAs) that scan the markets, identify patterns and execute trades automatically based on configured strategies.
  • Social Trading Features – Traders can connect with top performing strategy managers and copy their trades automatically using auto trading bots. A performance dashboard displays manager stats.
  • Custom Strategies Marketplace – Browse and purchase profitable custom trading strategies designed by vetted strategy managers. Strategies available for forex, crypto, stocks etc.
  • Educational Resources – FX Oracle AI provides fundamental forex trading education for beginners through its Forex Oracle Academy. Resources include videos, ebooks, online courses and webinars.
  • Daily Trade Signals – Subscribe to receive daily trade signals across currency pairs, commodities and indices from professional analysts and AI algorithms.
  • Trade Copier Software – The company offers branded trade copier software to seamlessly copy exact trades from strategy managers to your broker account.
  • Broker Account Integration – Users can integrate their brokerage accounts (MT4, MT5) to copy trades automatically using FX Oracle AI bots and copier software.
  • Community Forum – An online community forum to connect with fellow traders, discuss strategies, share insights and learn from professionals.
  • Partnership Opportunities – FX Oracle AI provides partnership opportunities for introducing brokers, money managers and educators to grow their business.

The company essentially operates as a fintech and social trading technology provider. It aims to offer cutting-edge trading solutions to assist forex traders in generating regular profits. The tech tools and trading education may appeal to newbie traders seeking guidance in navigating the complex forex landscape.

Leadership Team of FX Oracle AI

FX Oracle AI was founded by Moses Joseph (aka MjYoung), a seasoned forex trader and entrepreneur. Joseph has over 20 years of experience trading currencies, binary options, crypto and stocks. He is considered an expert in forex trading strategies, money management, and risk mitigation.

In 2008, Joseph began his professional trading career and cultivated specialized forex trading skills over the next decade. He is also an innovator in trading technologies and has created proprietary forex and binary options expert advisors (EAs).

According to his bio, Joseph has a trailblazing entrepreneurial background and is the CEO of GF Social Limited, a UK registered company that owns FX Oracle AI.

The second prominent leader of FX Oracle AI is Naresh Pema, who serves as co-founder of the platform. Pema has an extensive 25-year career in the forex trading industry. He provides fundamental trading education to clients based on technical and price action analysis.

The founding team’s depth of trading knowledge and technology background serves as a strong foundation for the FX Oracle AI platform. The founders aim to share their expertise with traders worldwide to help them achieve financial freedom.

Technology Powering FX Oracle AI

According to the company website, FX Oracle AI utilizes artificial intelligence and machine learning algorithms to generate trading signals, execute automated trades, and analyze markets across various asset classes.

Some of the touted capabilities of the proprietary AI tech include:

  • Identifying chart patterns and technical indicators signaling high-probability trading opportunities.
  • Executing automatic trades based on trading strategies coded into the algorithm.
  • Backtesting trading systems on historical data to gauge strategy performance.
  • Optimizing trading parameters and risk management rules to maximize profit potential.
  • Scanning markets 24/7 and adapting to evolving market conditions.
  • Generating daily buy/sell signals across forex, crypto, commodities and indices.

The company claims the AI analyzes millions of data points across price action, trends, volatility, trading volumes, news events and more to detect lucrative trading opportunities. The algorithms supposedly leverage complex statistical computations and predictive modeling to forecast potential price movements.

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FX Oracle AI also incorporates automatic trade execution capabilities into its platform. This allows traders to set up rules for entering and exiting trades automatically based on technical indicators and strategy logic configured into the algorithm. The bot is designed to remove emotional decision-making and enforce disciplined trading based on quantifiable rules.

While FX Oracle AI asserts its platforms utilize cutting-edge AI, the company provides limited details on the inner workings of its technology. There is no concrete evidence available validating the sophistication of the proclaimed algorithms. The lack of AI transparency is concerning given the grandiose claims made by the company.

Trading Platforms Compatible with FX Oracle AI

Since FX Oracle AI focuses on social and copy trading, it must integrate with broker trading platforms to enable automatic trade copying.

The FX Oracle AI website states its tools are compatible with the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms offered by most retail forex brokers. These platforms allow traders to execute market trades, backtest strategies, utilize EAs and more.

By connecting your brokerage MT4 or MT5 account to FX Oracle AI, you can purportedly copy exact trades placed by strategy managers on the platform. This is accomplished using the FX Oracle AI trade copier which interfaces between your broker account and the master account whose trades you are copying.

The company aims to provide a seamless social trading experience across the industry’s most widely used trading platforms. However, the efficacy of its trade copying mechanisms and overall compatibility across brokers remains questionable.

FX Oracle AI Review: Costs and Fees

FX Oracle AI employs a subscription-based model for access to its trading technologies and educational resources. The platform offers different subscription packages based on features and functionality.

Some examples of the subscription plans include:

  • Basic: $99.99/monthly – Includes AI trade signals, basic education, and forum access.
  • Standard: $299.99/monthly – Adds on strategy manager subscriptions, trading courses, and weekly coaching.
  • Premium: $499.99/monthly – Top-tier plan with unlimited strategy manager subscriptions, private coaching/strategy sessions, VIP education access and more.
  • Custom: Enterprise-level custom packages are also offered for large clients with advanced requirements. Pricing upon request.

The platform also charges fees when purchasing strategies from certified strategy managers. For instance, a manager may charge an upfront fee of $1000 for access to their proven forex trading strategy.

Subscribers can also pay strategy managers an ongoing monthly subscription fee to continuously receive their newest trading signals and have trades copied automatically. These subscriptions provide access to managers’ expertise and allow you to mirror their strategies.

There are no commissions charged by FX Oracle AI on trading activity. You only pay costs related to your own brokerage account such as spreads, transaction fees or commissions.

Overall, FX Oracle AI adopts a subscription-fee model typical of many fintech and social trading platforms. The technology access and educational materials come at a recurring cost which may deter traders seeking free open-source trading solutions.

Customer Service and Support Channels

FX Oracle AI provides customer support services via the following channels:

  • Telegram Group – Customers can get in touch with the support team at via telegram channel for assistance.
  • WhatsApp Support – For quick inquiries, users can reach out on WhatsApp at +2348129136091 or +2348124858729.
  • Telephone Support – Calling +2348129136091 or +2348124858729 connects you directly to a support representative.
  • Company Address: HQ – Kemp House, 128 City Road, London,  EC1V2NX, United Kingdom. ABUJA – No. 9 Opp Road Safety Office Galadima, Gwarimpa-Abuja, Nigeria. ZARIA – 6, Sokoto Road, Opp Benue Link, Kwangila, Sabon Gari, Zaria

The availability of multiple customer support mediums is beneficial for users requiring technical assistance. However, online user commentary indicates frustration with delayed response times and lack of effective resolution in some cases.

Is FX Oracle AI Legal and Regulated?

FX Oracle AI does not explicitly disclose any regulatory licenses or legal registrations on its website. There are no clearly visible notices about regulation by financial authorities.

This lack of transparency regarding regulatory status raises eyebrows given the financial nature of its business activities. Most legitimate trading service providers clearly showcase their licenses and compliance with laws.

Further online investigation suggests FX Oracle AI is owned and operated by GF Social LTD which is a UK registered company. However, GF Social does not appear to be authorized or regulated by leading financial regulators like the UK’s Financial Conduct Authority (FCA) or Cyprus Securities and Exchange Commission (CySEC).

The company’s website includes vague legal disclaimers highlighting the following:

  • It is not an investment company, brokerage or fund manager.
  • Does not collect funds for trading or manage money on behalf of clients.
  • Users are responsible for risks associated with financial markets.

While these disclaimers aim to limit legal liability, they do not absolve the owners of responsibility to operate ethically and comply with applicable laws. The lack of regulatory oversight remains concerning.

Overall, FX Oracle AI exists in a legal grey area typical of many offshore trading technology firms. The risks of scams, abuse and losses can be higher with unregulated entities. Investors should exercise abundant caution when dealing with such platforms.

Pros and Cons of FX Oracle AI

Based on our extensive research and analysis, here are the key advantages and disadvantages of the FX Oracle AI platform:

Pros

  • Provides helpful trading education for beginners via online courses and resources.
  • Trade signals delivered by AI algorithms offer trading ideas for consideration.
  • Platform tools aim to automate trade analysis and execution using technology.
  • Traders can potentially benefit from insights of profitable strategy managers.
  • Integrates with leading forex trading platforms like MetaTrader 4 and MetaTrader 5.
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Cons

  • Company lacks regulatory licenses and oversight which increases risks.
  • False claims of leveraging true AI and machine learning technologies.
  • Costly subscription model can be prohibitive for many traders.
  • Insufficient details provided on track record and actual performance.
  • User complaints of poor customer service and technical issues.

As evident above, FX Oracle AI flaunts some features that may appeal to newbie traders but also raises multiple red flags regarding its legitimacy and viability.

Performance Claims and Track Record

A crucial aspect we investigate with any trading service provider is their track record of delivering profitable trading results. Unfortunately, FX Oracle AI makes multiple unfounded claims of stellar performance without furnishing any verified trading statements.

For instance, the company suggests its AI algorithms can deliver up to 85% trading accuracy. However, no historical performance reports are provided to substantiate this. FX Oracle AI also claims traders can achieve monthly returns of 20% to 40% by copying its strategy managers. But again, no objective evidence is presented to back this.

The website does include some short testimonials from members who state they profited using FX Oracle’s services. However, testimonials are easy to fake and do not carry much weight without corresponding trading statements.

Furthermore, FX Oracle AI attempts to disclaim responsibility for losses and results achieved by traders. Its typical disclaimer states “The Company will not be responsible for any losses incurred by Signal Providers”. This is a red flag indicating how the company avoids accountability for results or wrongdoings.

Reputable trading providers publish regular performance reports with audited trading statements validating their track record. FX Oracle AI fails to embrace such transparency. Overall, the lack of verification of its touted performance and profits raises suspicions about its true capabilities and integrity.

FX Oracle AI Review: Awards and Recognition

FX Oracle AI claims to have won several awards and recognition which enhance its credibility and reputation. The awards mentioned include:

  • Best Copy Trading Platform (2022) – This award supposedly demonstrates FX Oracle AI’s leadership in delivering an exceptional social trading experience. However, details on the awarding institution are unclear.
  • Most Innovative Use of AI/Machine Learning in Trading (2021) – This award validates the company’s pioneering implementation of artificial intelligence technologies to empower traders according to its website. The awarding body is unspecified.
  • Best Customer Service in Fintech (2019) – FX Oracle AI states this award reflects its commitment to responsive customer support and satisfaction. Yet again, the organization granting this award remains undeclared.
  • Best Social Trading Platform in Africa (2017-2022) – The company suggests its dominance in Africa has been recognized through this acclaimed award for six consecutive years. However, the award provider is conspicuously anonymous.

While awards can enhance a brand’s goodwill and trustworthiness, the legitimacy of awards depends on the credibility of the issuing institution. All the awards showcased by FX Oracle AI lack mentions of the conferring authority. This raises suspicions on whether these are fabricated for marketing purposes.

Genuine awards in the trading industry should cite reputable award bodies like Global Banking and Finance, International Investor, Global Forex Awards etc. Unfortunately, FX Oracle AI fails to prove its awards are authentic and meaningful.

Blog Posts and Educational Resources

FX Oracle AI maintains an online blog and education center with beginner trading resources on Medium. These aim to educate newbie traders on core concepts like risk management, technical analysis, trading psychology and more.

Some of the topics covered in its learning materials include:

  • Forex Basics – Introduction to currency pairs, pips, lot sizes, margin trading and leverage.
  • Chart Pattern Analysis – Identifying patterns like triangles, head and shoulders, double bottom etc.
  • Trading Strategies – Overview of trend trading, swing trading, scalping, day trading approaches.
  • Money Management – Risk/reward ratios, position sizing techniques, stop losses, risk percentage.
  • Trading Psychology – Controlling emotions, limiting biases, cultivating discipline and patience.
  • Technical Indicators – Introduction to indicators like moving averages, RSI, MACD, Bollinger bands etc.

The learning resources are a nice value-add for new traders unfamiliar with forex concepts. The materials focus on foundational concepts using simple explanations supplemented by visual charts and diagrams.

However, seasoned traders may find the rudimentary education content basic compared to in-depth paid trading courses. The limited scope and depth of the training restricts its usefulness for experienced traders.

Overall, the educational materials can serve as a decent starting point for beginners but won’t satisfy traders seeking advanced trading knowledge.

Social Media Presence

FX Oracle AI maintains active social media accounts including Facebook, Instagram, Twitter, LinkedIn and YouTube. These platforms are leveraged for brand marketing, client engagement and lead generation.

A review of the company’s social media presence provides further perspective on its legitimacy and reputation. Key observations:

  • Modest Following -FX Oracle AI has a relatively small social media audience ranging from 3,000 – 7,000 followers on each platform. Limited reach and engagement among trading audiences.
  • Aggressive Marketing – Content focuses heavily on touting company benefits, technology claims and profit potential. Aggressive marketing gives the impression of a sales funnel.
  • Lack of User Reviews – Currently there are no visible third-party comments, ratings or reviews on its services. Social proof is limited despite claims of a vast client base.
  • Reputation Concerns – A few users have called out the platform as a scam in posts however negative remarks are typically deleted.

The overall social media presence exhibits attributes of overeager sales and marketing instead of transparent third-party appraisals. While not definitive proof of ill intent, it does hint at credibility issues.

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FX Oracle AI Review: Competitor Comparison

FX Oracle AI competes in the crowded field of forex social and copy trading platforms. Some of its notable competitors include:

eToro – Industry leader enabling social/copy trading of stocks, crypto, forex, and CFDs. eToro is regulated across multiple jurisdictions and supports in-depth risk analytics. However, it levies higher fees compared to competitors.

NAGA Trader – Licensed broker and social network featuring 1000+ successful traders you can follow and replicate strategies. Competitive fees and referral incentives offered. Caters more towards stocks and crypto trading.

Tradeo – Offers forex and crypto copy trading with advanced risk management tools. Allows you to build your own follower base as a strategy provider. Supported across web and mobile apps.

CopyFX – Specialized forex copy trading platform that integrates with MT4/MT5. Provides transparent track records of strategy managers. However, has limited crypto and stock assets.

Compared to the established players above, FX Oracle AI comes across as an upstart platform with unverified claims tied to its technology capabilities and past performance. The lack of regulation also sets it apart from reputable rivals like eToro.

Final Verdict – Is FX Oracle AI a Scam Platform or Legitimate?

Despite some concerns identified during our review, FX Oracle AI demonstrates potential to become a legitimate and viable social trading platform. The company appears to be a young firm still ironing out issues as it grows.

On the positive side, FX Oracle AI offers helpful forex education, trade signals, automation capabilities, and strategy manager subscriptions. These can appeal to newbie traders seeking guidance in the complex world of forex trading. The platform tools aim to make profitable trading more accessible.

Additionally, FX Oracle AI’s founder Joseph has extensive industry experience and a vision to transform forex trading through AI and social technologies. This lends some credibility despite the platform’s shortcomings.

While the lack of regulation raises near-term concerns, we believe FX Oracle AI may look to legitimize its operations moving forward. As it expands its user base, the company will also feel compelled to boost transparency.

If FX Oracle AI can address key areas like verification of technology capabilities, publishing performance reports, securing applicable licenses and boosting customer service, it has the potential to join the ranks of reputable forex trading platforms.

For traders intrigued by the platform’s offerings, the prudent approach may be starting with small amounts to test its services and reliability. We also encourage demanding transparency, reporting issues and providing constructive feedback to the company.

As consumers of financial services, you can play a pivotal role in pushing new platforms like FX Oracle AI to enhance legitimacy, results and trustworthiness over the long run.

If you remain keen to explore the FX Oracle AI social trading platform and understand how you can potentially profit from forex, to get your questions answered.

FAQs

Q: Is FX Oracle AI free to use?

A: No, FX Oracle AI works on a subscription-based model. You have to pay monthly fees to access its trading technologies, signals, education etc. They offer different pricing tiers.

Q: What is the minimum deposit to start trading?

A: The minimum is $250 to fund your broker account which gets connected to FX Oracle AI for social trading. Different brokers may have varying minimum deposit requirements.

Q: Which brokers does FX Oracle AI support?

A: FX Oracle AI integrates with popular brokers that offer the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. You can check supported brokers on their website.

Q: Is copy trading on FX Oracle AI risky?

A: Yes, there are risks in copy trading just like any trading. Use prudent risk management, monitor performance, and don’t risk more than you can afford to lose.

Q: Is FX Oracle AI a scam?

A: There are some scam concerns due to lack of regulation and performance verification. However, users have reported making money with FX Oracle AI. So therefore, apply caution and manage risks if trying their services.

Q: Can I make money with FX Oracle AI?

A: Yes, there is potential to profit if you use the platform prudently under proper guidance. However, trading results vary widely. If you want a safe trading and want to make money with FX Oracle AI, you can .

Q: How do I get started with FX Oracle AI?

A: You can visit their website and sign up for an account. Browse service packages, deposit funds with a compatible broker, and connect your account to begin social trading.

Hope this article provide more insight into what FX Oracle AI offers. Let us know if you have any other specific questions in the comment section.

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