Algo trading means automated trading programs which investors rely on as an extra safety net, whether they are veterans or complete beginners. It is designed to gather market data each second, analyze it and respond or trade on your behalf. Its increasing popularity means there are a lot of competitors in this blossoming field, so it is essential to separate the lemons from the winners.

The most important aspect to look for is credibility. Since a lot of money is involved, and secrecy rules in this profession, serious Algo developers would usually not expose their personal identities, however they may be willing to show their trading account statements. An account statement provides proof that the particular Algo software is able to generate real profits with real money.  If the developers of the Algo Trading software are actually presenting the statements from their real-money trading account, this means it’s the real deal and not the usual internet scam.

Scammers always brag about large, unrealistic profits (“100% per month”, “1000% per year”) but never have any proof to back up their absurd claims. Another crucial aspect is consistency. In other words, is this Algo Trading software able to generate profits not just for a short while, but for years to come?

If the strategy was randomly able to profit for 2-3 months, it might mean that when you start using it, you will start seeing its ugly losing side. To ensure such thing does not happen, look carefully for how long does the account statements span. Ideally, it should be more than 6 months. If you take Algo Trading Machine as an example, they are presenting statements spanning 4 years of consistent profits, which is superb, and also rare to see in this industry.