Forex Robotron is an expert advisor trading in multiple currency pairs. According to the vendor, the development team has spent thousands of hours programming and testing this system. This is a fully—automated trading system backed by verified live statistics and backtesting data. However, the pricing plans are quite expensive and the EA uses a risky strategy that leads to high drawdown. At first glance, this does not look like a reliable system.
There is virtually no information on the company behind Forex Robotron. The vendor has shared the official email address, but we don’t know where the company is located or when it was founded. It is not a good sign when the vendor does not reveal any details about the company’s service history. We don’t know anything about the development team members either.
How Forex Robotron works
This expert advisor works on the Metatrader 4 platform. It is compatible with US, Non-US, as well as Islamic-friendly brokers. However, the vendor recommends signing up with a broker that has swift execution speed, along with lower commissions and spreads. The EA can automatically adjust to 4 and 5 digits brokers. After purchasing the robot, you will get instructions on how to install it.
Timeframe, currency pairs, deposit
You can run this EA on M5 charts. With some brokers, you can get started with a small balance of $50. The robot itself does not have a minimum deposit requirement. There are five pairs you can trade with this EA, namely EUR/USD, EUR/GBP, EUR/CHF, EUR/CAD, and EUR/AUD. While there is no minimum leverage for Forex Robotron, the vendor recommends using the minimum amount of leverage possible.
There is no information on the trading strategy used by this expert advisor. The lack of strategy insight comes as a major disappointment and it prevents us from accurately gauging the system’s profitability. Most Forex traders look for strategy-related information before investing in a system, and they will take this as a red flag.
Pricing and refund
There are four distinct pricing plans for Forex Robotron, and these are called Basic, Standard, Gold, and Premium. The features available with these plans are the same, but the more expensive ones give you access to a greater number of real accounts. For the Basic plan, you need to pay $299, while the Gold and Premium plans are priced at $499 and $999, respectively. The plans are quite expensive compared to other providers and on top of that, the vendor does not entertain any refund requests.
Launched in 2018, this verified trading account on Myfxbook has generated a total profit of A$6628.44 to date. The robot has placed 1130 trades through this account, winning 917 out of them, which means it has a win rate of 81%.
Here, we should mention that the account has an extremely high drawdown of 57.21%. Clearly, the robot is trading with a high-risk approach that can lead to heavy losses. The daily and monthly profits are 0.21% and 6.54% respectively, while the profit factor is 1.58.
This backtest was performed on the EUR/USD pair for the M5 timeframe, starting from May 2003 to April 2021. The robot started out with an initial deposit of $5000, and after conducting 5270 trades, it generated a net profit of $457104532.72. It won 96.77% of all trades, which is significantly higher in comparison to the live statistics. However, the drawdown of 75.92% is quite excessive, even more so than what we saw in the trading account.
People say that Forex Robotron is…
Doubtful. There is only one user review for this EA on Forexpeacearmy, and none on Trustpilot. Thus, it is evident that not many people know about this system. This particular user has complained that after well for a month, the EA hit a drawdown it wasn’t able to get out of.
There are multiple drawbacks to this Forex robot. First of all, there is no data available on the vendor. The EA trades with high drawdown and has expensive pricing plans without a refund policy.
|Verified trading results
|Lack of vendor transparency
|No money-back guarantee
Forex Robotron Conclusion
Forex Robotron is a scam service that you should stay away from at all costs. The vendor has no reputation whatsoever and they sell the robot at a high price without protecting your investment with a money-back guarantee.