Falcor Forex Robot is an automated trading system that claims to redefine automated trading. As per the vendor’s claims, it earned a total profit of $101,345 in the last 30 days of trading. It is a fully automated system capable of finding, managing, and closing trades without any manual intervention.
The current price of this EA is $79 and it is much cheaper than the average Forex robot. There is a 60% discount being offered by the vendor and the original price is $199. However, since there is no refund policy, you won’t get your money back in case the robot does not work for you.
Falcor Forex Robot trading strategy
Unlike other Forex robots that seek trading signals by looking at the past, Falcor concentrates on the current price movements. It places fresh trades without any lags or delays. This is a high-frequency trading system that has a position open most of the time. In case the direction of price changes suddenly, it performs an automatic stop and reverse.
According to the developer, this robot is suitable for traders of all skill levels. You can use it independently or in combination with other EAs. It is possible to use it on multiple currency pairs simultaneously.
Falcor Forex Robot uses a price action strategy for trading the Forex market. The vendor has not explained the strategy in detail, so we are not sure how exactly the robot uses it.
Falcor Forex Robot features
This EA does not use lagging indicators and finds major trades in real-time. It trades 24 hours a day and remains active during the day and night. You can download, install, and start trading within 5 minutes. The robot is compatible with micro, mini, and standard lots. It is built to safely adapt to the trader’s account size.
Falcor Forex Robot runs on the Metatrader 4 trading platform. With the majority of Forex brokerages, you will get MT4 demo accounts. Once you install the trading platform, you can attach the robot to any chart of your choice. In the beginning, you can start with a small deposit of $250. The vendor recommends beginners to trade on a demo account until they have had at least 1 or 2 consecutive profitable months.
Falcor Forex Robot backtesting results
It is a common norm for EA vendors to share the historical test results for their robots. These tests are usually conducted over a long time period, thus exposing the system to different market conditions. Many traders use these tests to decide whether it is worth using the EA for live trading. Unfortunately, the vendor has not shared the backtesting results for Falcor Forex Robot.
Falcor Forex Robot live trading results
There are no verified trading results for this Forex robot on websites like Myfxbook, FXBlue, and FXStat. The vendor has shared the results in tabular format, but they are not verified by a third party. Here, we can see the opening and closing time, type of trade, price, stop loss, take profit, commission, taxes, swap, and profit. However, some of the vital performance parameters like drawdown, profit factor, and win rate are missing. Also, without a growth chart, we cannot accurately assess the performance over time.
Falcor Forex Robot reputation
The developer company behind this EA is known as Forex Robot Trader. It was founded by Don Steinitz, an ex-gambler based in Las Vegas. He is said to have spent more than 1000 hours every year, studying charts to come up with a winning formula. There is a team of MQL programmers working with him, but the vendor has not revealed their identities. Other EAs developed by this team include Odin Forex Robot, Vader Forex Robot, Reaper Forex Robot, Ganon Forex Robot, and HAS Forex Robot.
We couldn’t find any reviews for this EA on trusted third-party websites. While there are multiple reviews posted on the official website, we have no way to verify their authenticity. The absence of authentic user reviews indicates a lack of reputation.
Falcor Forex Robot review summary
- Strategy – 4/10
- Functionality & Features – 4/10
- Trading Results – 4/10
- Reliability – 4/10
- Pricing – 7/10
Falcor Forex Robot is available at an affordable price, but there are no verified trading statistics showing us the real-time performance of the expert advisor. The vendor does not offer a money-back guarantee for this system, and there are no customer reviews on third-party websites. Also, the vendor has not clearly explained the trading strategy.
