The devs of Forex Robotron consider it as the ‘best forex robot for the Metatrader 4 platform’. The vendor tries to convince traders that the system has a high win rate on multiple currency pairs and can adjust to various market conditions. We cannot trust the dev blindly and for this reason, we have prepared a detailed Forex Robotron review. Here we will provide you with the complete truth about Forex Robotron.
Forex Robotron: To Trust or Not to Trust?
Its live trading results and backtest reports show that the robot uses a risky trading approach that cannot be ignored. This year the system showed nothing but constant losses. Thus, it is difficult to trust this FX expert advisor any money.
The presentation has few features explained. Many of the settings were described how we expect they have to work.
- The system works completely automatically.
- It opens deals on the following currency pairs EUR/AUD, EUR/GBP, EUR/CAD, EUR/CHF, and EUR/USD.
- The robot works on the M5 time frame.
- The settings can be customized to fit our trading expectations.
- There’s an “Option for NO Trades Open Over Weekend” feature. It’s a good one to protect deals from the sharp market moves on the Monday opening.
- The robot follows NFA and FIFO rules.
- It doesn’t perform risky trading strategies like Hedging, Grid, Martingale, or Arbitrage.
- The robot is delivered with a step-by-step user guide.
There are three packages of Forex Robotron introduced: Basic, Pro, and Premium. Basic is available for $99 and includes one account license. The Pro pack costs $199 and comes with two account licenses. The Premium package is available for $299 and involves an unlimited number of account licenses.
All these packages include the same number of features: the unlimited number of demo accounts, dedicated lifetime support, lifetime software updates, and a step-by-step user manual. The most important part of every package, a money refund, is not included. It means that the dev is not confident in its product.
On the official Forex Robotron website, the dev shares seven backtest reports for every currency the system trades: EURAUD, EURGBP, EURCAD, EURCHF, EURUSD, USDCAD, and USDCHF.
This is a backtest report for one of the most popular currency pairs–EURUSD.
Based on the 19 years backtest data, we can see that traded with a 99.90% modeling quality on the M5 timeframe. With an initial deposit of $100/k, the robot could generate $379435504 of profit. Out of 3178 trades performed, 3076 were profitable, representing a win rate of 96.79%. An average profit ($225.068) was significantly lower than the average loss (-$3.067.396), representing a poor risk/reward ratio. The relative, as well as the maximal drawdowns, were sky-high (69.93%), prooving the fact of the risky strategic approach applied.
The vendor shares 4 links to Myfxbook trading accounts.
This trading account was created on July 23, 2018, and was deposited with a $3,116.91. The system trades under the Pepperstone broker with 1:500 leverage. For mostly 4 years of trading activity, the system could generate a $2,860.71 of profit. The peak drawdown was over 50% which seems too high.
As you can see on the screenshot below, the drawdown is over a 35% mark since February this year.
The risk of ruin is large, as, in the case of 5 losing deals in a row, 10% of the account balance will be burned.
Sadly, the system does not show good performance in 2022:
Can you make money with Forex Robotron in 2022?
No, you can’t. Unfortunately, the system trades unpredictably with high trading risks.
The company has no transparency at all. Although the robot trades with high drawdowns ad does not provide any profits this year, it is still sold.
We can find some old people’s feedback on the dev’s website.
Forex Robotron has a page on Forex Peace Army. There’s a single review with a three-starred rate.
This client noticed that profitability was incredibly low.