Forex Robotron Review | Dangerous Without Knowing!
Forex Robotron is an EA that is scalping in Asian sessions, and has achieved excellent results of forward testing of vendors’ own accounts.
It is rare to find an EA that does not use marchingales or grid trades, and has achieved this result.
However, we must verify various risks before purchasing.
Purchase Pattern and Basic Information of Forex Robotron
|Number of real licenses||1||2||3||No limit|
|Number of demo licenses||No limit||No limit||No limit||No limit|
EURAUD, EURCAD, EURCHF, EURGBP, EURUSD, GBPAUD, USDCAD, USDCHF
Live Performance of Forex Robotron
The results of several forward tests are published on Myfxbook.
Due to the scalping EA, the results vary greatly by broker.
It is good to have forward tests on multiple brokers.
(June 25,2018 to May 21,2019)
After operating for about one year, profit + 23839.21%, maximum drawdown -30.1% is incredibly good.
However, the reliability of Knit FX, the broker used, is unclear.
So it is dangerous to fully believe this result.
■Broker：Rakuten Securities Australia
(February 1,2018 to August 9,2019)
Rakuten Securities Australia is a broker offering only fixed spread accounts.
Looking at the results at Rakuten Securities Australia, it is speculated that this EA will not produce good results on a fixed spread account.
（(April 1, 2019 – in operation)
The Pepperstone account has the latest version 25 results.
Pepperstone is a world-renowned good broker.
Trusting the results with Knit FX is dangerous. On the other hand, you can assume that the results at Pepperstone are somewhat reliable.
The maximum drawdown for all accounts is limited to about 30%.
I have never seen an EA that draws such a beautiful balance curve without using martingales or grid trading.
The forward test results are outstanding.
However, it is very dangerous to make a usage decision by looking at only these results. You should decide whether to use after understanding the characteristics of the transaction and dark side.
Transaction Analysis of Forex Robotron
Scalping in an Asian session.
Among the many other Asian scalping EAs, the unique features of Forex Robotron are as follows.
Open a position between 21 and 22 GMT. A feature of Forex Robotron is that it only opens positions within this one hour range.
The trading frequency is likely to be less because there is only one hour to open a position, but there are about 3-4 transactions per day.
Most of the positions are buy positions and rarely have sell positions.
The trade mode can be selected from three types: aggressive, normal, and conservative. This parameter setting will likely change the logic and frequency of the entry.
This EA can set fixed stop loss and take profit levels with parameters.
However, by turning on the “Dynamic Close” parameter, the position is closed when the EA determines that it is the best before the price reaches the level of stop loss and take profit.
Vendors strongly recommend turning this “Dynamic Close” parameter ON.
In the vendor’s public account, stop loss -100pips / take profit + 100pips is set, but the price has never actually reached this level.
So stop loss is just like insurance.
The average loss and average profit for each trade in the vendor’s public account are both within 5pips. Compared to other scalping EAs, the pips width is small.
You can select whether to enter a fixed lot size or automatically calculate the lot according to the free margin by setting the parameter “Risk%”.
Of course, martingale and grid trading methods are not adopted.
Concerns about Forex Robotron
Sensitive to Brokers & VPS
Since it is a scalping EA that targets a small number of pips, it is sensitive to spread, slippage and order speed.
Forex Robotron is a scalping EA that target particularly small number of pips, so we must choose the broker and VPS more carefully.
Knit FX used in the forward test is a Thai-operated broker in the Marshall Islands. Minor broker with no reviews or information. Using this unknown broker is risky and not recommended.
In the worst case, there is a risk that Knit FX and Forex Robotron vendors collaborate to cheat forward test results.
However, the release result of Version25 was operated with a Pepperstone account, and a good result was obtained with a Pepperstone account. So you don’t have to worry too much about cheating forward test results.
However, since it is very unclear what the results will be with non-Pepperstone accounts, Pepperstone is recommended if you use this EA.
Also, if the VPS environment is bad, there is a risk that execution of orders will be delayed and good results will not be obtained. It is better to use a VPS that is close to the broker server and has good response.
Results of general users are not good！
The results of general users who purchased this EA are published on myfxbook.
Tickmill is a relatively reputable broker with narrow spread. However, no good results have been achieved.
The results on Pepperstone, the same broker as the vendor, are published.
Not enough time has passed since the start of operations, so it is difficult to evaluate.
However, while the vendor’s account is at a high level of more than 10% monthly profit, this account is still not performing well.
Looking at the usage results of these general users, I have to say that it is unclear whether this EA will be profitable so far.
Alleged sales of similar EA from the same vendor
There are rumors that the vendor of Forex Robotron sells an EA of similar logic named “Forex Scalping EA”.
When I checked the sales page of Forex Scalping EA, it was very similar to that of Forex Robotron. Clearly it looks like a site created by the same person.
The site structure is almost the same.
Forex Robotron’s manual introduces Forex Scalping EA as a sponsor, but it is not disclosed that it is an EA created by the same person.
I don’t know why he is bothering to sell the same EA from another site.
Forex Scalping EA only publishes the results of the back test and does not have the results of the forward test. Unfortunately, there are not a few people who buy EA based on backtest results. Does the vendor have a backup that will continue to sell EAs even if Forex Robotron’s forward test results deteriorate?
I don’t know the truth, but it is a negative factor in terms of vendor reliability.
Suspected Myfxbook Double Account
Forex Robotron’s published results on Myfxbook are published by British user “Forex Robotron”.
On the other hand, an account named “GOB Trade 2” using Forex Robotron is published by Thai user “gobornop2”.
(GOB Trade 2 results are published on the vendor site as Forex Robotron results)
Perhaps these two Myfxbook user accounts are expected to belong to the same person. It may be related that the broker used in the forward test is the Thai broker “Knit FX”.
If they are the same person, it is dishonest to create a double account, publish the same EA result with a different name and try to sell the EA.
The vendor should explain the relationship between the two accounts, even if they are not the same person.
Perhaps the vendor is deliberately appealing that it is an EA that will benefit even if it is used by a third party.
I don’t know the truth, but this is also a negative factor in terms of vendor reliability.
By the way, in the posting forum of GOB Trade 2, the user sent an alert post saying “The reality of this EA is Forex Robotron! I’ve used this EA, but don’t make any profits!”
Since the EA varies greatly depending on the usage environment, it cannot be determined that it is a bad EA based on the result of a single user. However, it will be one reference information.
Conclusion of Forex Robotron
Vendor forward tests have been very impressive.
There are results published from the account of Pepperstone, a good broker, and it seems that the vendor account is really profitable.
However, it is dangerous to make decisions based on vendor results, buy EAs, and run them with real accounts with real money.
It is better to recognize the following dark side and understand the risks before using it.
However, the results of the forward test are perfect, so it is a very interesting EA.
I will continue to pay attention to this EA.