Tag: Forex Trading Robot

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Forex Service Review

Forex Robotron Trading Robot Review

Forex Robotron is an automated trading robot that works with 5 different currency pairs on the MT4 platform. The most current version of the program, version 28 was released in May of 2020.  Overview Forex Robotron is a fully automated trading system that was designed to automatically trade on the client’s behalf without requiring any […]

Forex Robotron is an automated trading robot that works with 5 different currency pairs on the MT4 platform. The most current version of the program, version 28 was released in May of 2020.  Overview Forex Robotron is a fully automated trading system that was designed to automatically trade on the client’s behalf without requiring any […]

Forex Robotron is an automated trading robot that works with 5 different currency pairs on the MT4 platform. The most current version of the program, version 28 was released in May of 2020. 

Overview

Forex Robotron is a fully automated trading system that was designed to automatically trade on the client’s behalf without requiring any effort on their part. On average, the robot trades around 500 times per year, depending on market conditions. Here are some more facts about the system:

  • Trades with currency pairs EURAUD, EURCAD, EURCHF, EURGBP, USDCAD
  • Compatible with the MetaTrader 4 platform
  • 5-minute timeframe
  • Option to disable trading on weekends
  • Does not use grid, hedging, arbitrage, or martingale
  • Works with US brokers, non-US brokers, and is Islamic friendly 

Like with any robot, results can vary based on your broker’s spreads, liquidity, and slippage. You can view results where developers have tested the robot on the website to get a better look at its success rates and profit percentages. You’ll also notice a chart with monthly gains from 6.63% up to 50.68% for the month of April 2018. 

Service Cost

There are four differently priced packages available for purchasing a lifetime license of the software:

  • Basic $299: 1 Real account license
  • Standard $399: 2 Real account licenses
  • Gold $499: 3 Real account licenses
  • Premium: $999: Unlimited real account licenses

All packages work with each currency pair that is outlined, allow for an unlimited number of demo accounts, lifetime support, lifetime updates, and work on the MT4 platform. The only difference appears to be the number of real accounts that one can open based on the package that has been chosen. Note that refunds are not offered for this product. 

Conclusion

If you’re looking for historical data, then Forex Robotron’s website shouldn’t disappoint. Developers have provided 15 years’ worth of testing results and profit percentage charts on the website in order to prove that the product did give them the results they were looking for. It was tested with real tick data, real variable spreads, and trade commissions of $7 applied in order to provide more accurate results. On the downside, we do wish that developers spent more time explaining how the robot makes trading decisions.

We know what currency pairs it works with and that dangerous strategies are avoided, but more technical information would help support the case that the robot is in fact worth investing in. This isn’t a dealbreaker, but it would be nice to know more about the strategy that is being used. If you decide to buy, you’ll also want to consider how many real accounts you want the robot to trade on, as this seems to be the primary difference between paying for a package that is $299 or $999.

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Forex Service Review

Alligator Trader Professional Trading Robot Review

Alligator Trader EA is an automated system created in April 2020 by developer Ciprian Ghebanoaei. Alligator Trader is a fully automatic expert trade consultant. This robot has been designed specifically for trading with the USDJPY currency pair. In the tests carried out by the creator, it has been concluded that the time frame in which […]

Alligator Trader EA is an automated system created in April 2020 by developer Ciprian Ghebanoaei. Alligator Trader is a fully automatic expert trade consultant. This robot has been designed specifically for trading with the USDJPY currency pair. In the tests carried out by the creator, it has been concluded that the time frame in which […]

Alligator Trader EA is an automated system created in April 2020 by developer Ciprian Ghebanoaei. Alligator Trader is a fully automatic expert trade consultant. This robot has been designed specifically for trading with the USDJPY currency pair. In the tests carried out by the creator, it has been concluded that the time frame in which this EA performs best is in M30, although it has also had good results in other different time frames.

This EA does not need complicated configuration parameters, as it already comes ready for use in just a few minutes. The expert advisor, after downloading, comes prepared to work with the USDJPY currency pair and an M30 time frame. The user only needs to decide on the choice of lot with which he wants to trade.

Alligator Trader EA has an intelligent algorithm that detects the market trend, in this case, the USDJPY, and filters out the noise generated by the market. The expert will always create commands on the direction of the trend. The input and output commands are given by a combination of two indicators that can be found on any MT4 platform: Crocodile Indicator and Williams Percent Range.

The robot also contains stop loss and take profit, which provides capital security for times when volatility is high, for example, due to news or high impact events. The expert was tested on 1 year of USDJPY historical data. The user can test other currency pairs to check their profitability outside the USDJPY. This expert is optimized for USDJPY. Obviously, each currency pair has its own features. The recommended minimum deposit to start trading with this EA is 500 USD.

The creator recommends, as with any EA, the use of a virtual server or VPS while the advisor is working. If the user has no possibility to have this resource, he will be forced to have his computer turned on 24/7. Having a solid broker is important. Possibly an ECN account with low latency so that market orders can be executed as soon as possible.

In short, we are talking about a quite simple robot, one which the developer based on what works. Specifically, this EA uses 2 combined indicators, the Crocodile Indicator and the Williams Percent Range. Due to its simplicity, this is an EA suitable even for the most novice traders, as is very easy to understand and does not need any additional adjustments as this robot is already configured from the origin by the author.

As it is a newly created tool, it does not yet have comments from other users that give us an idea of how it has turned out to work. It is advisable to wait a while to see how this robot develops and if the results are good, we can consider using it. Either way, it has a demo version where we can test the robot and put it into operation, both with the currency pair commented by the author, USDJPY and with other currency pairs.

If you are interested in this tool and want to buy it, it is available on the MQL market at a price of 75 USD and is also available for rent at a price of 10 USD for 3 months of use.

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Beginners Forex Education Forex Basics

Should You Invest In a Forex Robot?

A forex robot is a computer program that automatically places trades on one’s trading account, based on predetermined factors that are unique to the specific robot that is trading for you. The software is used by both beginners that may not understand exactly how to trade and more experienced investors in an effort to maximize […]

A forex robot is a computer program that automatically places trades on one’s trading account, based on predetermined factors that are unique to the specific robot that is trading for you. The software is used by both beginners that may not understand exactly how to trade and more experienced investors in an effort to maximize […]

A forex robot is a computer program that automatically places trades on one’s trading account, based on predetermined factors that are unique to the specific robot that is trading for you. The software is used by both beginners that may not understand exactly how to trade and more experienced investors in an effort to maximize their earning potential. On the other hand, some traders have had bad experiences with automated software and will tell you to avoid it at all costs. Are automated trading robots money-making machines, or a bad investment all around? Deciding whether to invest in a forex robot really comes down to one’s personal opinion after weighing the pros and cons.

We’ll start by looking at some of the positive benefits associated with using a forex robot:

–Forex robots eliminate the psychological burdens of trading. After all, a computer program won’t feel anxiety, grief, excitement, or any other emotion that can affect a human. This allows the robot to trade without making human errors based on emotions.

-The software can scan and analyze multiple sources of data much more quickly than a human possibly could.

-Trading robots can monitor and place trades on multiple accounts at the same time.

-The computer program can’t get tired or distracted, so it won’t miss opportunities. A forex robot never sleeps.

-A robot can backtest different strategies to figure out which is the best.

-Beginners can rely on forex robots while they’re learning, although you should have a good idea of what you’re doing before you get started.

Forex robots can provide us with an advantage because they aren’t subject to human emotions, distractions, or fatigue. The program does exactly what it was designed to do, and it can analyze multiple sets of data and place multiple trades at the same time. It just isn’t possible for a person to do all of this at once or as effectively.

With the benefits of using a forex robot in mind, one also needs to look at the disadvantages. We gave a lot of credit to this software because of its lack of humanity – but that can also be the catch. A robot can only consider the factors that it is programmed to, while humans can think about other things that might affect their trades, such as news releases or economic reports. If things change, the robot will continue trading the same way as before and might wind up losing a lot of money if there is no interference. Here are the main disadvantages to using a forex robot:

While the lack of human emotion can be a good thing, the robot cannot consider things that a human could.

A lot of forex robots were created by scammers that promise to make you rich, even though their product will wind up losing your money. Once you pay for it, they’ve made their profit and don’t care that you will only lose more.

Many of these products cost a good bit of money if they work. This can put the software out of reach for many beginners or investors that just can’t afford it.
Most robots run on your device and need a connection to the internet 24/7 for trade execution. Otherwise, they can experience problems. You can purchase VPS to help with this, but this adds another cost to using a forex robot.

Forex robots can automatically trade on your behalf and can be very profitable, but each robot was not created equally. There are a lot of scammers out there aiming to take advantage of beginners with flashy promises and impressive-sounding programs that just don’t work. If you’re going to use a robot, you need to do a lot of research before making a purchase, test it first, ensure that risk-management procedures are followed (like setting a take profit or stop loss), and keep an eye on the robot’s activity. You’ll also want to turn off the robot when certain news data or other market affecting information is released to avoid losing money during those times.

Whether or not to invest in a forex robot is a personal choice. The best developers will explain how their software works, allow you to test it or perhaps to access a free trial, and might even offer a money-back guarantee in some cases. You also want to check for user reviews to get an idea of how the product has worked for real traders. Keep in mind that some might lose money because of their own personal interference, but user reviews and comments can paint a bigger picture of whether the robot is profitable or not. Don’t buy into claims of instant riches, instead, do your research and invest wisely, and remember that forex robots can be profitable, but they are not the magic answer to becoming rich.

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Forex Service Review

Forex Robotron FX Robot Review

Forex Robotron is an Expert Advisor developed by the Forex Robotron team. The team behind the development of this robot exists since 2013 but has perfected the EA until 2016 with a stable backtesting performance. No information is available about the developers. The latest version is 27 released in October 2019. This MetaTrader 4 EA […]

Forex Robotron is an Expert Advisor developed by the Forex Robotron team. The team behind the development of this robot exists since 2013 but has perfected the EA until 2016 with a stable backtesting performance. No information is available about the developers. The latest version is 27 released in October 2019. This MetaTrader 4 EA […]

Forex Robotron is an Expert Advisor developed by the Forex Robotron team. The team behind the development of this robot exists since 2013 but has perfected the EA until 2016 with a stable backtesting performance. No information is available about the developers. The latest version is 27 released in October 2019.

This MetaTrader 4 EA is based on the scalper strategy, executing a trade or two daily, during the calm, session end times around 9-11 pm GMT. The performance backtesting is stated to be based on real tick data, which means the testing precision is maximum. This EA is specialized for EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/USD, and USD/CAD pairs on the 5-minute timeframe as with many scalping EAs.

Overview

The performance of each pair is presented on myfxbook.com but including the older versions. Although, we have noticed that the robot is also run on USD/JPY, AUD/NZD, and other currency pairs on myfxbook.com stats summary. Forex Robotron webpage presents the results right away after their calculator that calculates how much you would gain with a specified deposit. The accounts presented on the website do not match the myfxbook account names. These are accounts before the 25 version of the EA. The current accounts are provided by external users and match the 25 version and have very good results but with a few warnings.

Namely, the testing and performance are done on Pepperstone, FXOpen, and KnitFX brokers. The presenting period does not account for the 2018 year where a huge drawdown is noted. A 57.21% drawdown is not attractive to most mid to long term traders and is one of the most important criteria for gauging how the EA manages risk. Even though the Forex Robotron features a fixed Stop Loss setting (20 pips) the balance drawdown is extreme. Daily gain is 0.32%, monthly 4.78% and total gain of 202.36% since 24 July 2018. The trades are open for a10 minutes or going longer to 4 hours, most of them being longs.

Trades that run longer than 2 hours proved to be mostly heavy losers. The Pepperstone account is used for these figures and according to the users, this EA is sensitive and will not show the same results with various brokers. Account number 3477293 shows the 2018 history but 3477294 and 3477295 show selective results from 2019 only where very good figures are presented. Yet, when we expand the analysis from the beginning, on 18th September 2018, we can see a 51% balance drawdown. We are no sure if this was done with an unperfected version of the EA. It is not known how this EA performs under FIFO broker restrictions.

Forex Robotron website is not well structured, performance charts create a very long page and at the bottom, the devs published a list of email feedback from users. All of them are positive which reduces the value of reading them. The FAQ page contains good answers on some critical points such as about the Spot Loss but in the majority is meant for Forex beginners. The developers do not disclose how the EA works, on what indicators are it based, and do not show an expert knowledge level about trading, at least not based on the website content.

Service Cost

At this point, the EA starts at $299 offering unlimited demo account licenses, 1 real account license, support, and updates. The standard package is $399 and offers 2 real licenses without any other benefits. Gold package is $499 with 3 real licenses and if you want an unlimited number of real account licenses the cost is $999. This sets Forex Robotron in the higher price range, especially since there is no demo EA available.

Conclusion

According to the other reviews and user reports, Forex Robotron does not show consistent results, is only optimal with brokers with very narrow spreads, no slippage, and fast execution times. The performance is inconclusive, unfortunately, the Forex Robotron team does not provide a demo so there is no way to test it for free.

This Forex service can be found at the following web address: https://forexrobotron.com

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Forex Service Review

BinBot Pro Automated EA Review

BinBot Pro is an automated trading system that consists of 10 separate auto-trading robots. Since being founded in 2016, the software has claimed to provide 90% returns without requiring much of an effort on the client’s behalf. The questions we sought out to answer revolved around the features of the service, the cost, and how […]

BinBot Pro is an automated trading system that consists of 10 separate auto-trading robots. Since being founded in 2016, the software has claimed to provide 90% returns without requiring much of an effort on the client’s behalf. The questions we sought out to answer revolved around the features of the service, the cost, and how […]

BinBot Pro is an automated trading system that consists of 10 separate auto-trading robots. Since being founded in 2016, the software has claimed to provide 90% returns without requiring much of an effort on the client’s behalf. The questions we sought out to answer revolved around the features of the service, the cost, and how BinBot is regarded within the online community.

Overview

BinBot Pro is a binary option robot that uses trading algorithms to make the automated service possible. Sitting back while a robot makes you money almost sounds too easy, but this is what trading robots, EAs, and other online autotrading systems aim to do. BinBot Pro is a collection of trading robots that are designed to earn you money on binary options trading platforms. The demand for these types of services has been growing rapidly lately, with more and more investors turning their attention over to automated trading services. But no two trading robots are created equal.

The service provides more customization options than many others. Instead of allowing a robot to trade on your account day and night, you’ll be able to stop the bot if it is not behaving in a way that is financially beneficial. Since BinBot uses 10% of the account’s balance per trade, the ability to stop the bot on a bad day can help to turn profits in the other direction. A key tip would be to run the robot when you can monitor activity more closely, rather than allowing the robot to run day and night. Scammer bots typically run constantly without supervision and don’t allow traders to change certain settings or pause the robot.


This service offers 8 total currency pairs to choose from, including EUR/USD, USD/JPY, GBP/USD, USD/CHF, and a few others. Overall, this isn’t an entirely large selection, but there are some benefits to trading solely in currency pairs. It’s easier to focus on these types of assets and manipulation isn’t as likely from the broker’s side. Once you’ve opened an account, you’ll be able to customize some account settings that regard risk levels, leverage, and entry & exit stipulations, and choose a specific robot to trade for you (there are 10 total, like Bullish Intervention and xProfit). From there, the auto-trading robot will begin placing trades and you’ll be able to review a history of winning and losing trades that have been placed instantly.

Service Cost

To use the service, you’ll need to follow the three easy steps outlined on the website. The first step entails choosing a broker from the following list:

All three options belong to Finance Group Corp and advertise 90% returns while asking for an initial $500 deposit into the trading account. Most brokers offer an entry-level deposit of around $250. The BinBot Pro software is virtually free (aside from the listed 0.01 or $1 minimums), but traders will still have to meet those larger deposit requirements to use the software.

It’s always a good idea to start with the minimum deposit amount and then to watch how the service performs before depositing more funds. Each of the robots provides a demo that allows traders to witness them in action, so this could certainly help with making the decision as to whether the investment is worth it.

Conclusion

BinBot Pro gives us several reasons to believe that it is a trustworthy software – the brokers that are partnered with are advertised upfront, traders can take more control of the settings, and the bot won the Best Binary Robot award in 2016. While you shouldn’t ever expect a 100% return, the software does advertise high returns that are backed by some users. When it comes to binary options trading bots, BinBot is spoken of frequently. Still, it’s always a good idea to see what others have to say about this type of software since we can learn from their experiences.

BinBot received an overall score of 80/100 on one website, along with mixed reviews from others elsewhere on the web. Here are some comments we found online.

“Great piece of software that has helped me turn some great profits!” -Adam

“One of the best software I have used, simple and very effective. Totally recommended.” -Lester

A few others commented that they wound up losing money. Traders should keep in mind that some of those one-star reviews could be from traders who weren’t entirely prepared to use the software, or who simply left the robot trading without monitoring activity. If you know what you’re doing, then the service can be profitable. BinBot Pro doesn’t claim to make you rich. If it did, then we’d know that it was a scam. The service seems to be one of the more trustworthy options, but people have lost money using this software, so be sure to monitor your account closely and don’t start off with a huge investment. If things start to go south, stop the robot for the rest of that trading day, or pull your investment if your history report shows too much of a negative trend.

This Forex service can be found at the following web address: https://www.binbotpro.com

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Forex Service Review

FRZ Breakout Trading Robot Review

FZR Breakout Trading Robot is an Expert Advisor that was published to the mql5 marketplace by developer Wanna Fernando. The original version was launched in January of 2019 and it was most previously updated to version 2.1 for miscellaneous improvements. Overview The FZR breakout Trading Robot automatically enters or sells orders when sudden sharp movements […]

FZR Breakout Trading Robot is an Expert Advisor that was published to the mql5 marketplace by developer Wanna Fernando. The original version was launched in January of 2019 and it was most previously updated to version 2.1 for miscellaneous improvements. Overview The FZR breakout Trading Robot automatically enters or sells orders when sudden sharp movements […]

FZR Breakout Trading Robot is an Expert Advisor that was published to the mql5 marketplace by developer Wanna Fernando. The original version was launched in January of 2019 and it was most previously updated to version 2.1 for miscellaneous improvements.

Overview

The FZR breakout Trading Robot automatically enters or sells orders when sudden sharp movements occur on charts with a time-sensitive strategy, which consists of moving a certain number of pips in a specified maximum number of seconds on the chart. By looking at the price movements over the period of time, the robot identifies potential breakout events and makes buy or sell decisions based on that data.

The developer sticks to this lower-risk strategy without using Martingale, grid, hedging, or averaging techniques, which are historically risky. Traders can also customize settings like SL, TP, and trailing stops, or use the EA without TP to take advantage of sudden spikes. Here are a few key facts about the robot:

-Works with any currency pair; GBPUSD, AUDUSD, EURUSD, and USDCAD are recommended
-M1 timeframe
-Compatible with MT4; MT5 version available
-Makes only one trade per bar
-Doubles as a news trader
-The developer recommends using a low-spread, low-latency, ultra-fast execution with low-latency VPS. An ECN broker is preferable, but not absolutely necessary.

The developer recommends choosing IC Markets, which comes with the advantage of a 30% discount on spreads and commissions when the IB code 23649 is used.

Service Cost

There are a few different costs to keep in mind anytime you’re planning on purchasing an EA. First, the most obvious cost would be the price to rent/buy the product. Unfortunately, the developer doesn’t allow traders to rent this product, so traders are looking at $129 USD to access it. Next, you’ll want to consider the cost of finding a broker that fits the above recommendations, which might mean paying extra for VPS, making a specified deposit into the trading account, and so on. Keep in mind that while renting is not an option, the developer does offer free demo accounts for testing.

Conclusion

FZR Breakout Trading Robot is a fully automated EA that identifies breakout events based on time data while doubling as a news trader. It is available for $139 USD, but the costs of using this EA will likely add up once VPS and other factors are considered. On the plus side, those that choose the recommended broker IC Markets and sign up with the provided IB code will receive a 30% discount. This product has been rated 5 stars (based off of two ratings), and received the following review:

“Much better than I thought. Simple logic but it works.” -JamesK123

It isn’t much feedback, but it is enough to let us know that the EA does work when used correctly. An installation & usage video is available, so traders shouldn’t have much of an issue getting acquainted with the program. Overall, this is a good EA that is worth purchasing if it fits into your budget.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/34869

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Forex Service Review

FXMasterBot Trading Robot Review

Fxmasterbot is an automated and manual trading robot that uses a unique algorithm developed by a team of experts with 20+ years of experience in the field. Since the software’s launch in December of 2017, Fxmasterbot has kept its service updated to adhere to recent regulations. The software is free and worth consideration if you’re […]

Fxmasterbot is an automated and manual trading robot that uses a unique algorithm developed by a team of experts with 20+ years of experience in the field. Since the software’s launch in December of 2017, Fxmasterbot has kept its service updated to adhere to recent regulations. The software is free and worth consideration if you’re […]

Fxmasterbot is an automated and manual trading robot that uses a unique algorithm developed by a team of experts with 20+ years of experience in the field. Since the software’s launch in December of 2017, Fxmasterbot has kept its service updated to adhere to recent regulations. The software is free and worth consideration if you’re looking to join the masses that are switching over to automated trading methods.

Overview

The service offers a customizable experience by allowing traders to tweak several settings that affect the algorithm behind it. You can set stop loss and take profit limits, signal strength, set the daily stop-loss limit, and take steps that could lead to a more profitable outcome, such as setting the limit on the number of consist trades that can be executed in a row, or how many trades you’d like to execute in a day.

There are also three separate account types to choose from, including a Novice, Expert, and Master account. What makes Fxmasterbot stand out is the ability to trade manually or automatically. If auto trading is turned on, then the bot will place trades immediately without requiring authorization. Through manual trading, the trader would need to accept every signal they want to trade.

The service offers traders the ability to trade with multiple different brokers. You can choose just one, or trade with several of them instead. 24option, iTrader, OTCapital, EuropeFX, and FPmarkets are among the options, and some of those are even regulated. Autotrading and manual trading are integrated on the same platform for convenience, but a mobile app isn’t available, so traders will have to resort to using their browsers instead.

There are 3 currency pairs available for trading on the Novice account, the Expert account raises the offer to 9 currency pairs, and the Master account features 17 currency pairs. The Master account also comes with some added benefits like an unlimited number of open positions, prioritization with support staff, and access to more advanced settings.

Note that traders in the United States cannot use the service and the website will block IP addresses coming from the country. Several other providers are willing to work with these clients, despite strict regulation laws.

Service Cost

Fxmasterbot offers three trading accounts with a minimum deposit of $200 on their Novice account. There is a $25 minimum per trade, so the bot will be able to place up to 8 trades with the entry-level deposit. This should be a good starting amount to test the waters with, but even more important is the fact that the actual software doesn’t charge any fees.

That means there are zero monthly, quarterly, or yearly charges for trading with the bot, which lets traders put all their money into trading without paying those out of pocket costs. If you want to open an Expert or Master account, you’ll need to make a larger $500 investment into your trading account.

Traders can also register for a free demo with $1,500 worth of virtual funds that can be used to practice. Demo accounts are a good sign that the service is legit since many scammers don’t want to show you an upfront look at their return rates or allow you to test their service.

Conclusion

Fxmasterbot allows traders to become more engaged in the trading process with customizable settings, multiple account types, several different partners, and manual trading. Your profit-return rate will depend greatly on the way that you work with those settings, so a bit of knowledge can go a long way here. The ability to manually select trades and set limits that can stop the account balance from being depleted are some of the highlights here that make this robot stand out from the crowd.

Taking a look at user reviews is an excellent way to get an idea of how successful any particular robot has been for other traders. Fxmasterbot has barely received feedback from actual users online, but the software has been included in multiple reviews on various websites. Most of the professional reviews speak fondly of the platform and give it 4 to 5 stars in most areas. The only downside is that traders don’t know which of these websites might be working with the company, but it isn’t likely that this is the case for all of them.

This Forex service can be found at the following web address: https://fxmasterbot.com