GOLD MACHINE Telegram Channel Review: A High-Risk Scam Promising Fake Gold

"GOLD MACHINE" is a channel promising lucrative gold trading signals. Since April 2023, the channel has gained close to 48,500 subscribers. It has about 9 daily posts, indicating the channel is very active. However, after thorough research and backtesting the channel's performance, the results have been very worrying. This review has gathered all the data and information about the channel to reveal the false information and the financial risks the channel poses to its subscribers.

Channel Overview:

Telegram Channel Link - https://t.me/GoldMachineSg

Aspect	Details
Channel Name	GOLD MACHINE
Launch Date	10 April 2023
Subscriber Count	48,474 (Note: A significant portion are suspected to be fake accounts)
Average Posts/Day	9
Average Views/Post	4,600
Primary Market	Gold (XAU/USD)
Trading Style	Scalping during London & New York sessions
Free Signals Provided	Yes
Free Education	No
Paid Services	Premium VIP channel
VIP Subscription Bot	No
Public Face	Yes, the owner occasionally posts live videos and pictures.

Deceptive Practices and Alarming Performance

The channel provides free trading signals, trade updates, and information about the paid channel. It also shares high-impact news. Although the channel has a real person, the channel's activities are not reliable.

This Telegram channel makes false promises about the trading results in the VIP paid group. It also provides rare free trading signals. We have tested the free trading signals, and here are the results we obtained. This group trades Gold. However, the main problem of this channel is that it categorically does not accept losses. If the channel shares the results of a losing trade and makes the wrong prediction, the authors of the channel will continue opening one trade after another, losing money. We have obtained 8 losing streaks of the channel's signals.

The channel's main problem is the composition of the trading signal, which is not reliable and is statistically doomed to lose.

Signal Example:

Signal: Buy Gold Again 4915 - 4911

Stop Loss (SL): 4908 (7 pips risk)

Take Profit (TP): 4953 (42 pips target)

This is an example of an extremely high take profit with a relatively low stop loss, creating an unrealistic risk/reward ratio with no relation to the real market.

From the results obtained from the backtesting, it is clear that only 14% of the free signals can reach the target. This means that the free signals have a 14% win rate over the last six months. This is a very low win rate, and the free signals will never be profitable. This 14% win rate will lead to a loss of the trading account due to the high risk/reward ratio.

Conclusion: Channel to Avoid

Because of the poor performance and lies from the free signals results, we believe the vip performance results are also false. The strategy used by the channel, where they do not admit their losses and try to cover up by using desperate attempts with revenge trading streaks, and using an ineffective signal structure, is a clear characteristic of a scam channel. The only reason for the strategy used by the channel is to create false hopes with the free signals results, trying to trick desperate traders into the vip service, where the results and promises are even more false and fabricated.

0/10 TRUST SCORE

Final Verdict: Be Careful and Avoid This Channel

The GOLD MACHINE Telegram channel is a scam trading service with a predatory strategy. The results obtained from the free signals clearly indicate a losing strategy. The results from the vip service are not clear, but they can be safely assumed to be the same as the free ones. This channel should be avoided by traders because it will lead to the loss of the trading capital.