Anti-Fraud & Scam Toolkit / Tool 12

Track Record Check

An impressive equity curve says little until you know whether it was simulated, traded live and independently checked. Examine the evidence before buying an expert advisor or trading system.

01 / Type of evidence

What do you actually have?

Choose the strongest form of evidence you have personally seen. A claim of a live track record is not the same as inspecting live records.

02 / Test the evidence

Eight questions for the provider.

Select Documented only if you have checkable evidence. Not checked is not a negative finding; it is a question before purchase. Your answers stay on this page.

01 Are backtest, demo account and live-money trading clearly separated?
02 Does the documented record belong to the strategy being sold and the named provider?
03 Are the start, end, interruptions and strategy changes disclosed?
04 Are complete transactions or independently verifiable account statements available, rather than selected winning trades?
05 Are fees, spreads, slippage and any financing costs included?
06 Are drawdowns, losing periods, leverage and possible additional liabilities clearly presented?
07 Has an identifiable independent party verified the specific live record, method and period?
08 Can you identify the developer, licensor, trading platform, broker and recipient of the licence payment separately?
03 / Next step

Check the strategy, provider and sales channel separately.

Even with a robust record, you still need to identify who developed and licensed the software, which platform sells it, where it trades and whether an endorsement is commission-driven.

Check provider identity →Read the expert advisor guide →Explore professional review →

Original sources

CFTC · Commodity Trading Systems Sold on the Internet ↗ · FCA · Understanding price graphs ↗ · ESMA · MiFID II Article 24 ↗