The Fractal Breakout Indicator is a creation from Forex Trading Robots, a site, and a company that has created a large number of different bots. This is slightly different from the other creations as it is an indicator and not an automated trading robot.
The purpose of this robot is to pinpoint the perfect trade on any forex chart. There are a number of features boasted on the site, some of them include the fact that the indicator evaluates the strength of a particular trend and calculates the best time to enter based on retracements. After a retracement, the indicator waits for a fractal set up. Easy to read arrows let you know a potential trade is coming up. It also has built-in Fibonacci levels in order to automatically take profits.
The indicator has been designed to work on the MetaTrader 4 trading platform and does not seem to be compatible with any other platform.
They have a few results posted on the site, we will have a brief look at the past three months results:
- January 2020: $30,669
- February 2020: $28,306
- March 2020 up to 14th: $17,934
These results are very impressive, especially during a period of major volatility (the Coronavirus outbreak). In fact, they are a little too good, when we look into them in more detail, we can see in March 2020, there was a profit of nearly $18,000 (at the time of writing) and an absolute drawdown of just $22, these are some of the best figures you will see anywhere in the world, and so this leads us to believe that they may not be exactly true.
With lot sizes of 1 lot, we would expect a far greater absolute drawdown. The account being used also applies to be a demo account with equity of nearly 4 million USD, not an account size any of their potential clients will be using. The results are just as unrealistic on the February sheet, with an absolute drawdown of exactly 0 USD… a bit too hard to believe. The results have also not been verified by a third party like My FX Book, so there is a chance they could have been doctored.
The robot currently costs $59.00 to purchase, this is with a 70% discount as it originally cost $199.00, this is a similar discount to all other robots on the site and they seem to be on a permanent sale. There is also a timer on the site indicating that the sale will end, however when you refresh the page the time resets, this is a devious marketing ploy used by a lot of marketers to try and coerce people into making hasty purchasing decisions. There isn’t a demo available of this robot, but Forex Robot Trader is providing a few demo bot to use in order to test out how they may work.
There are a number of reviews on the site from customers, however, it always builds a bit of skepticism when all the reviews are 5 starts, there is just 1 four-star review, the order of the reviews in terms of where the 4-star review is located is very similar to the other robots on the site, so this again leads us to believe that the reviews may not be real.
“Here’s a quick shout to let you know this week has been a.w.e.s.o.m.e.! With the help of the webinars, I managed to close out 900 profit.” – A 5-star review.
Other reviews from around the internet state things like “I bought the EA and it doesn’t work as shown on the website. The website shows super high profits while my own account was killed within 2 weeks.” So there is a huge contrast in the opinions being made, we understand that Forex Trading Robot may not want to add lower star reviews on their site, but only having 5-star reviews is a little deceiving.
This Forex service can be found at the following web address: https://www.forexrobottrader.com/forex-indicators/fractal-breakout-forex-indicator