Forex traders across the world have started using robots for automated trading and trading assistance. With the increasing number of robots and many scams present among them, traders need to conduct proper research before investing in a robot.
Forex Robotron has been quite talked about. It will be the primary focus of this review today.
In-Depth Forex Robotron Review
On first look, the forexroborton.com website appears to be hastily developed, lacking essential credible information about the robot. The Forex Robotron boasts of being the only robot that has been tested with variable spreads, tick data, and real slippage too. The latest version (version 25) that was released on April 2019, features 8 trading currency pairs and a time frame of 5 minutes.
The website boasts that thousands of hours of research and backtesting have been invested in the development of the product. However, one will find no mention of the developer or the company behind the robot. Since the vendor information is missing, the reliability of the product cannot be established right away.
The Forex Robotron is available to traders at a one-time payment option. They have the freedom to choose between four packages:
- Basic – Priced at $299, the Basic package offers 1 real license for a lifetime.
- Standard – Priced at $399, traders can get 2 real licenses for a lifetime.
- Gold – For a price of $499, traders will get 3 real licenses.
- Premium – Priced at $999, the traders can use unlimited licenses through their lifetime.
The vendor offers a 30-day, no questions asked, complete money-back guarantee. Many traders are today bent towards paying for forex robots from the profits it earns for them. Therefore, the one-time lump sum payment might not be attractive to all. The lack of transparency and the one-time payment raises suspicion about the performance of the robot.
Forex Robotron Features
The Forex Robotron trading software is designed to work with the MetaTrader 4 trading platform. The fx robot trades 8 different currency pairs – EUR/AUD, EUR/CHF, EUR/CAD, EUR/USD, EUR/GBP, GBP/AUD, USD/CHF, and the USD/CAD, on a 5-minute time frame. There is no mention of the type of trade, stop loss or the deposit recommended to be used on the portal.
How Forex Robotron Works
It has already been said that traders can trade in 8 pairs following a 5-minute timeframe. The traders have the freedom to set the stop loss, take profit and other related parameters as per their requirements. There is no other information on the website about the trading strategy employed by the robot, the leverage requirements, and other trading information. It was found through heavy research that the robot followed the Scalper strategy for trading, with no confirmation from the website itself.
Live Trading Results
The vendor lists three different trading results on the website. However, they are somehow linked to deception and ambiguity. The first trading result provided is ‘GOB Trade 2’ that is listed to a Myfxbook account named GOB, that doesn’t seem to be connected in any way to the Robotron team. Further, the results provided have been run on the Knit FX Broker, that is an unregulated and unreliable one. The Forex Robotron EUR/USD results provided is from an account that ran only for a month in June-July 2016. This is a clear cry for the vendors to share reliable trading results that do not draw suspicion.
What else you should know about Forex Robotron
When hunting for reviews, a good number of negative customer experiences and poor reviews came up. Customers claim that the time parameters cannot be modified. Customers have claimed that the robot is incapable of making profits and incurs losses in succession. One customer even claims that backtests done on the MT4 platform prove that the robot simply wipes out accounts. Here are a couple of screenshots of real reviews: