Forex Robotron is among the fully automated trading systems that claims to provide huge profits. This Forex robot works on five different currency pairs with universal settings.
Available in three price packages including Basic, Pro, and Premium, the rates range from $99 up to $299. In this Forex Robotron review, you can find our detailed evaluation of the system and our recommendation on using it.
Forex Robotron Trading Strategy
According to the info provided on the site, this system is a result of several years of hard work, programming, and testing. The fully automated software works on five currency pairs and uses the 5-minute timeframe and universal settings.
Testing of the system has been done with real tick data and 99% modeling quality with real slippage, commissions, and variable spreads. Unfortunately, we could not find any explanation on the strategy used which makes it difficult to evaluate the effectiveness of the system.
Forex Robotron Features
The official site has elaborate data on the trading results and testimonials. But we could not find any other info related to the system such as the strategy used, the features, and other such details. From the minimal details provided, the system is MT4 compatible and does not use Hedging, Martingale, Grid, or Arbitrage methods. It is compatible with all brokers and provides free lifetime updates and support. Based on the type of package you choose you can get single to unlimited licenses for your MT4 accounts.
The other features of the system are as follows:
- Trades on M5 timeframe
- Works only on the MT4 platform
- Is compatible with any MT4 broker
- Supports EURAUD, EURCAD, EURCHF, EURGBP, EURUSD, USDCAD, USDCHF
- A detailed setup instruction is provided
- A demo account is recommended to test the system
- A 24 email support is provided (except on weekends and public holidays)
- Free lifetime updates
Forex Robotron Backtesting Results
The vendor provides trading results tested for 15 years on historical data using the MT4 strategy tester. Below is a screenshot of the results.
From the backtest report, we could see the modeling quality was 99.90%. For a deposit of $5000, the profit factor was 2.12 and the drawdown was 38.26%. The results show a net profit of $103,705. However, since the test uses historical data for the performance, it cannot be used to predict a similar future performance.
Forex Robotron Live Trading Results
Live account trading results verified on the Myfxbook site can be seen on the official site. Below is a screenshot of the trading stats and other relevant information.
The trading account that was created on July 23, 2018, and deposited at A$3,116.91 shows us a total profit of +280.93%, which equals A$2,860.71. The system trades under the well-known broker–Pepperstone. It trades automatically with 1:500 leverage on MT4. Daily (0.11%) and monthly (3.48%) gains are low, taking into account its sky-high drawdown of 50,24%. It looks dangerous as since February 2020 the drawdown has been constantly increasing. We are afraid that a 50% mark is not the final.
Its profit factor is low and the risk/reward ratio is 4:1, representing a risky trading approach.
The trading history reveals lot sizes ranging from 0.56 up to 0.60 and more. From the high lot sizes and big drawdown, we suspect the system uses a very high-risk strategy.
Although we appreciate that the vendor shares live trading results to back up their EA profitability, they look odd and raise many questions. For example, one of their trading accounts provided on the official website listed as ‘Gob Trade 2’ (see the third picture on the screenshot below), looks like a trading account that has no association with the Robotron team.
This account shows a high total gain of 2922.96% with a very small drawdown of 13.05%. Another red flag is that it is run by the Knit FX broker. This is an unregulated FX broker located in Thailand. He has a very poor 1 out of 5 rating on the Myfxbook forum.
Forex Robotron Reputation
From the website design, we could glean very little information related to the vendor or the developer of this Forex robot. Furthermore, there is no location information or phone number for contacting support. We could find only an online contact form and according to the FAQ section on the site, the vendor takes 24 hours to respond to the queries.
User reviews reveal information on the performance of the system, the support offered, and more. We found a single user review for this automated system on the Forex Peace Army site. The screenshot below shows the review.
From the review, we could see that while the system performed well at the outset, its performance started declining and is performing dismally.
Forex Robotron Summary – Scam
Overall Rating- 4.3/10
- Strategy – 4 /10
- Functionality & Features – 4.5/10
- Trading Results – 5/10
- Reliability – 4/10
- Pricing – 4/10
Wrapping up our review of Forex Robotron, the system has verified trading results and extensive backtests to show its performance. From the trading results we could see that although the profit percentage is good, the high drawdown and huge lot sizes indicate a high-risk strategy.
Despite the vendor claiming that no grid, Martingale, and other high-risk approaches are used, the results reveal a risky trading approach. The bad user review confirms our suspicions on the performance of this system. Furthermore, the lack of vendor transparency is another downside that affects the reliability of the system. With no refund offered and expensive price packages, newbie traders would do well to steer clear of this system.
