ROBOCOPY FX Review

by FX EA Review
ROBOCOPY FX

Copy-trading delivers several advantages to Forex traders. With a reputed software, you can copy the real-time trades of other investors at a rapid speed. Such types of trading services ensure that all the signals they generate for trades are automatically replicated in your brokerage account.

Robocopy-FX is a copy trading service that exclusively focuses on the Forex market. The service claims to free you from the tedious task of finding the right trades. In this Robocopy-FX review, our experts’ panel has evaluated the system meticulously and come up with all the info you need to know the viability of the service. 

ROBOCOPY FX: To Trust or Not to Trust?

ROBOCOPY FX presentation

We have done a detailed analysis of this service including the performance, risk to reward ratio, lot size, and other characteristics. Our initial conclusion about the service is that it lacks transparency in relation to the vendor, the trading strategy, and results. 

A system is considered reliable only when it meets certain vital criteria such as trading performance, risk management, transparency, and user feedback. How does the Robocopy-FX service meet such criteria? Let us look at the features of this service before we delve into the key pros and cons present.

Features

ROBOCOPY FX pricing

This copy trading service works by sending signals to the MT4 platform you have set up. The order made by the service is executed robotically in your account. Two different strategies are available for users subscribing to this service. The strategies, Robocopy-FX -1 AND FX-2 focus on different currency pairs. With the former strategy, you can work on the EURCAD, GBPUSD, GBPCAD, and EURAUD pairs. 

The approach is by tracking support points while looking for retraction. In the latter type, a breakout trading approach is used to target the GBPUSD, USDJPY, and the EURUSD pairs. You get access to the control panel of the account enabling you to customize the strategy you want to follow.

Features that you can optimize include money management, asset mapping, the risk to reward ratio, lot size, and more. The service costs $127 per month and on subscribing you get access to the two strategies present. A refund of 7 days is provided by the vendor for this service.

From our analysis of the features, we have identified a few important advantages and disadvantages. These include:

  • Verified but hidden Trading Results
  • Lack of Vendor Transparency
  • No Customer Reviews 

Here is a detailed evaluation of the upsides and downsides of this system:

Verified Trading Results 

As per the vendor info, two strategies are presented with this service. Both the strategies are verified by the Myfxbook site. Here is a screenshot of the Robocopy-FX-1 strategy:

ROBOCOPY FX Myfxbook
ROBOCOPY FX trading results

From the trading stats found on the myfxbook site, the real USD account using IC Markets broker and leverage of 1:500 reveals a total profit of 12.71% while the absolute gain percentage is 2.84. This drastic difference in the two values makes us suspicious of the performance of the system.

A daily profit of 0.06% and a monthly profit of 1.92% are revealed. The drawdown is low at 4.12%. Most of the other trading stats such as the balance, equity, profits, interest, deposits made, etc. are not shown. Many other details are also hidden under the advanced stats such as the commissions, the average win and loss, best and worst trades, and more. 

Lack of Vendor Transparency

We could not find any info about the developer or the team behind this service. From the details found on the official site, we did not find data related to the location of the company and contact details. The vendor does not reveal the strategy used and the trading results show several hidden data. This lack of transparency raises a red flag. 

No Customer Reviews 

We were unable to find user reviews for this service on trusted third-party sites such as Forexpeacearmy, Trustpilot, etc. Reviews reveal plenty of information about a service such as performance, reliability, customer service, and more. Without the evaluation of the system can be difficult.

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