Forex Robotron Review: this is the name of a Forex auto-trading product or simply an Expert Advisor. Is forexrobotron.com a scam Forex robot or legit?
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What Are Forex Signals or Indicators?
Most Forex indicators are created for the purpose of giving traders trading signals that are accurate as well as consistent. With a legit indicator system, traders can afford to spend less time monitoring the market.
Traders are provided with what can be termed expert advice from these robots, this is why they are called Expert Advisors (EAs). EAs are sold by indicator vendors.
It offers a new version that was released in September 2019 on the page. Results are published on the website but they are said to be backtests. We find it encouraging that the vendor informs traders that future performances may be unlike historical results.
It is totally in character for Forex EA vendor or signal providers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit vendors at the bottom of this article.
How Forex Robotron Works
We do not find much details regarding how the auto trader is supposed to help clients make profit. It is common for Forex robot vendors to avoid unnecessary details. However, totally leaving that out is discouraging. It is said that the time frame is 5 minutes and currency pairs are: EURUSD, GBPUSD, EURCHF, USDCAD, EURAUD, EURCAD, GBPAUD and EURGBP.
Also we were able to find out that Forex Robotron makes use of a Scalper strategy. But not much else is made available regarding details, the bulk of what we find on the page is results. It is designed to work on MT4 platforms.
They claim that the robot is tested with real tick data, real variable spreads, real slippage and trade commissions. It has a $7 per lot, per round turn. Other details are listed as following:
5-minute Time Frame
Option for NO Trades Open Over Weekend
Forex Robotron Pricing Structure
Basic – $299 (1 Real License)
Standard – $399 (2 Real Licenses)
Gold – $499 (3 Real Licenses)
Premium – $999 (unlimited Real Licenses)
They all give access to trading all the available pairs and dedicated support as well as lifetime software updates. The only difference is in the real license access as listed above. There is a 30 days’ money back guarantee.
We find several reviews from clients on the page. We have mentioned several times that it is not wise to trust this type of information. Unless the reviews are provided on trusted third-party websites, we do not consider them.
Results provided are also images from screenshots of a MyFxBook account. For better rating, it would be wise for the vendor to give a working link to their live trading accounts.
There is no means of contacting the vendor or a customer support agent given on the page. This is another red flag as traders will want to get in touch with who they are buying from first.
There looks to be many issues with Forex Robotron and some advantages. The honesty of how unreliable backtests can be is appreciated. We found one account on MyFxBook but it was not impressive enough. Its prices are high and not competitive in the Forex EA market. Traders are advised to ensure the positives are enough before considering this product.