HAS Forex Robot is an EA that uses the law of multiple time frames that involves analyzing currencies on various charts to obtain a suitable entry point. The algorithm can run on any computer on the MT4 platform. The developer provides custom records on the website that we will review in our article to get a detailed performance report.
Vendor transparency
Don Steinitz is the author of the EA, who claims to have been in the betting industry for a long time. Later on, they made their way into the Forex market, and after spending thousands of hours, they were able to formulate profitable strategies for trading. They have expertise in the MQL language.
How HAS Forex Robot works
The robot has the following features:
- It can work on any computer.
- It uses multiple time frames for analysis.
- The system does not require any trading experience from traders.
- It comes with dedicated support from the developer.
The robot works with the following steps:
- Purchase the EA from the developer
- Place it in the experts’ folder on the MT4 platform
- Attach it to the charts to start trading
The algorithm will follow the coded strategy and place trades on the MT4 platform accordingly.
Timeframe, currency pairs, deposit
The developers are not clear on the amount of deposit required to start trading with their algorithm. They only state that the robot can scan 8 time frames for placing positions.
Trading approach
The author states that the algorithm uses an inbuilt Heiken Ashi indicator to determine the direction of the trend. The blue sign is for the up, while the red is for a downtrend. Priority is given to higher time frames than lower ones.
The custom records on the website show us that the system uses a stop loss of 20 pips with a take profit of 50 pips for most trades. There are no fixed hours for when the robot starts trading.
Pricing and refund
HAS Forex Robot is available to purchase for $49 with a 75% discount available on the website. There is no money-back guarantee from the developer.
Trading results
There are no proper backtesting reports available on the website. We can use custom records available on the website to analyze its historical performance. With unknown leverage, an initial deposit of 0 USD was converted to a total net profit of 23335.67 USD. The profit factor is not visible, and the bot participated in 77 trades, out of which 100% were profitable. While these records seem enticing, we cannot verify them as credible as they are not backed by proper performance tracking websites such as Myfxbook.
Trading records are available on the website, which is again not verified by proper performance tracking websites. The system makes a total profit of $55412.5 with absolutely zero value of drawdown, which seems fishy.
The winning rate stood at 100%, with an unknown profit factor in a total of 391 trades. We cannot refer to these stats as credible as they are recorded manually and can be subjected to manipulation.
People say that HAS Forex Robot is…
Customer reviews are present on Forex Peace Army which gives the company a 2.251 for 271 reviews. A trader comments that their systems do not work with any broker and are only causing losses.
Verdict
Advantages
- Low cost
Disadvantages
- No proper live trading and backtesting records
- Lack of insight on strategy
- Poor customer feedback
HAS Forex Robot Conclusion
HAS Forex Robot does not have proper backtesting and live records that could verify the performance of the EA. There is little to no insight into the strategy, and the developer does not provide any money-back guarantee.
