Reaper Forex Robot is an expert advisor that claims to have generated $102,820 in the last 30 days. The vendor claims that the EA has the potential to change the way you conduct trades. It is a fully-automated system that requires no manual input.
The current price of the robot is $79, which makes it cheaper compared to other expert advisors. Currently, the EA is being sold at a 60% discount and the original price is $199. Unfortunately, the vendor does not offer a money-back guarantee for this robot.
Reaper Forex Robot trading strategy
This is a robot that trades without pausing. It remains active in the live market 24 hours a day, 5 days a week. The EA trades the daily price breakouts to find profitable trades. It finds hidden support and resistance zones on the charts. Reaper Forex Robot waits for the breakout to occur once the price touches these zones. This way, it can pinpoint major price surges. In case the direction of the price changes, the robot stops automatically and reverses its position.
In order to lock in profits, the robot uses stop levels. Capable of finding major trading opportunities, this robot can work independently or in combination with other systems.
Reaper Forex Robot features
The vendor claims that the robot is based on a reliable manual trading system, but fails to mention what it is exactly. It is compatible with all pairs and is capable of adapting to different trading styles. After downloading the EA, you need only five minutes to set it up.
You can run this robot on any type of account. It has lot-sizing and margin control features to adjust to any account size. The user interface is quite intuitive and sleek, enhancing the user experience. It has a low trading frequency, which means it only looks for major trades, holding the orders for a few days.
Reaper Forex Robot backtesting results
It is a common practice for EA vendors to test their systems with historical data. These tests are conducted over a period of several years. As such, they reveal the long-term performance of the robot. Unfortunately, the vendor has not shared the historical test results for this expert advisor. Thus, we are not able to get a clear idea of its long-term performance. Also, it is not possible to compare the backtesting and forward testing results to see whether the robot is consistently profitable.
Reaper Forex Robot live trading results
There are no verified trading accounts for this robot on third-party websites like Myfxbook, FXStat, and FXBlue. On the official website, the vendor has presented the results in tabular format. Here, we can see the opening and closing time of the trade, the order type, size, item, price, stop loss, take profit, commission, taxes, swap, and profit.
After going through the results, we can see that the EA is prone to suffering large losses occasionally. It trades with a fixed lot size of 1.00. The average profit and loss are 167.02 and -99.99, respectively.
In the last 30 days, the robot has conducted 857 trades. It has been able to maintain a high win rate of 82.38%, generating a total profit of $102819.50. There have been 29 maximum consecutive wins and 4 maximum consecutive losses. The profit factor is quite impressive at 7.80.
Reaper Forex Robot reputation
This EA is a product from the Forex Robot Trader team. It was founded by Don Steinitz, an ex-gambler based in Las Vegas. He and his team found a way to use the Heiken Ashi Smoothed indicator on all timeframes simultaneously.
According to the vendor, this person spent 12 years studying the market to find a winning formula. We don’t have any background information on the developers and there is no official contact address. Other robots from this developer include Ganon, Falcor, Odin, and Vader.
We were unable to find any user reviews for this expert advisor on third-party websites. This tells us that not many people are currently using this system for conducting live trades.
Reaper Forex Robot review summary
- Strategy – 4/10
- Functionality & Features – 5/10
- Trading Results – 4/10
- Reliability – 4/10
- Pricing – 6/10
Reaper Forex Robot is cheaper than most robots on the market. It is easy to set up and works with all pairs. However, we don’t have the verified trading results for this robot on the backtesting results. There is very little information on the dev team and we can’t find any user reviews on the web.
