With the assurance of efficient trading that is customized to different types of market scenarios, Screti Forex Robot attempts to lure traders with claims of being a revolutionary system. This expert advisor assures stable monthly profits with its specially designed trading strategy. Are the claims of this Forex robot true? Can you trust this automated Forex trading system? Read on to know all information about this software and our expert recommendation.
Screti Forex Robot: To Trust or Not to Trust?
Screti Forex Robot claims to be a fully automated Forex robot that takes care of all the difficult and significant parts of trading making the entire process hassle-free for the trader. Let us delve into the features and other important aspects of this software to know whether the claims are true.
This expert advisor focuses mainly on the EURUSD currency pair and uses the timeframes from M1 up to H1. Different indicators such as RSI, CCI, etc. are used by this automated system for its trading strategy. These indicators help the system to identify the appropriate trend as well as the analytic trades. A monthly profit of 50% is assured by the vendor.
According to the vendor, this expert advisor uses AI capabilities to handle the Forex transactions. The pricing of this Forex robot ranges from €99 up to €299 based on the specific Jack Pro package you prefer.
From the very little information given on the site, the packages differ based on the real accounts they offer. A discount offer is underway now until the end of December 2020 with the Jack Flash Bundle 7 EAs pack price being slashed to €99 from €299.
On analyzing the various aspects of this Forex robot, we do not trust this system to deliver a favorable performance. This is mainly due to the following factors:
- Verified results which appear to be manipulated
- Absence of user reviews
- Unclear trading strategy
Let us look into each of the above aspects in detail.
Verified but Manipulated Trading Results
A real account trading result verified on the FXBlue website is shown on the official site. From the screenshot below it is clear that the account has performed well with a high return of 421.7%. A monthly profit of 30.1% and a weekly return of 6.5% are shown for a trading history of 184 days.
The risk/reward ratio at 12.59 is very high, which indicates the trading done falls under the high-risk category. We would prefer the trading results to be verified on the myfxbook site as it will reveal in-depth information on the performance. For instance, the deposit, drawdown, trading lot size, etc. are not revealed here. Such details provide a better insight into the strategy and effectiveness of this system.
Absence of User Reviews
We could not find user reviews for this Forex robot on any of the trusted sites, such as Forexpeacearmy, Trustpilot, etc. Even the official site does not have user testimonials. Reviews from users serve as one of the effective ways to assess how effective a system is. With the absence of reviews, we are unable to arrive at the right conclusion regarding this software.
Unclear Trading Strategy
Screti Forex Robot is developed by Mario Daniele Screti, who claims to be a programming engineer with more than 5 years of experience in financial markets. However, this experience does not seem to extend to explaining the exact strategy used here.
The developer gives very limited information regarding the strategy. Other than the information that the robot uses perfect trend and analytic trades and uses indicators, the developer does not elaborate any further. We would definitely like more information to assess the efficacy of this system.
Conclusion: To Trust or Not to Trust?
After an in-depth analysis of the important aspects of the robot in this Screti Forex Robot review, it is clear that it is not a system that you can trust. From providing very minimal information regarding the trading strategy to being expensively priced, the expert advisor shows shortcomings in many ways.
The trading results although verified on FXBlue do not provide adequate information regarding the drawdown, or the trading lots which makes it difficult to arrive at an appropriate conclusion regarding the performance. We could not find user feedback for this system which is another major downside in this expert advisor. With so many hitches, we would not recommend this Forex robot.