FXROBOTGO (EA) Review | Dangerous EA ??

FXROBOTGO is an EA that performs martingales with 10 currency pairs.

EAs that run simultaneously on many currency pairs and do martingales are rare.

Is it worth using it? I checked it.

 

 

Basic Information of FXROBOTGO

Price： $275
Number of real licenses：1
Support：24/7
Currency pairs： AUDCAD , AUDCHF, AUDUSD, CHFJPY, EURCHF, NZDCAD, NZDJPY, USDCAD, USDCHF, USDJPY,
Money back guarantee：30 days. Only when a drawdown of 35% or more occurs despite the operation with the recommended setting.

 

Live performance of FXROBOTGO

The monthly profit margin is about 5%, and the total profit is over 100%.
Because there is a gap between the balance and the equity curve, it cannot be said to be stable.

 

Features and Dangers of FXROBOTGO

The following explains the risks of FXROBOTGO.

Martingale

The basic strategy of this EA is martingale. However, this EA is not simply martingale.

Both BUY and SELL positions are held, and the winning position will be take profit at 10pips.

On the other hand, the losing side will increase the additional position while increasing the lot size by martingale.

Open Date	Close Date	Symbol	Action	Units/Lots	Open Price	Close Price	Pips	Profit
10/26/2018 06:50	11/22/2018 05:05	NZDCAD	Sell	0.02	0.84861	0.90021	-516	-78.22
10/26/2018 14:55	11/22/2018 05:05	NZDCAD	Sell	0.03	0.8511	0.90021	-491.1	-111.67
10/26/2018 18:10	11/22/2018 05:05	NZDCAD	Sell	0.05	0.8536	0.90021	-466.1	-176.66
10/29/2018 10:25	11/22/2018 05:05	NZDCAD	Sell	0.08	0.85704	0.90021	-431.7	-261.84
11/01/2018 12:50	11/22/2018 05:05	NZDCAD	Sell	0.12	0.86687	0.90021	-333.4	-303.55
11/02/2018 03:20	11/22/2018 05:05	NZDCAD	Sell	0.18	0.87121	0.90021	-290	-396.24
11/06/2018 01:25	11/22/2018 05:05	NZDCAD	Sell	0.27	0.87377	0.90021	-264.4	-542.09
11/06/2018 15:00	11/22/2018 05:05	NZDCAD	Sell	0.41	0.87639	0.9002	-238.1	-741.62
11/07/2018 01:10	11/22/2018 05:05	NZDCAD	Sell	0.62	0.8841	0.9002	-161	-759.93
11/07/2018 04:51	11/22/2018 05:05	NZDCAD	Sell	0.93	0.88664	0.9002	-135.6	-961.23
11/07/2018 19:45	11/22/2018 05:05	NZDCAD	Sell	1.40	0.88982	0.9002	-103.8	-1110.3
11/13/2018 13:05	11/22/2018 05:05	NZDCAD	Sell	2.10	0.89286	0.9002	-73.4	-1182.61
11/14/2018 16:15	11/22/2018 05:05	NZDCAD	Sell	3.15	0.89963	0.9002	-5.7	-161
11/16/2018 21:00	11/22/2018 05:05	NZDCAD	Sell	4.73	0.90561	0.9002	54.1	1897.55
11/21/2018 17:05	11/22/2018 05:05	NZDCAD	Sell	7.10	0.90923	0.90019	90.4	4797.61
			total	21.19		total	-3365.80	-91.80

The lot size that started at 0.02lot has increased to 7.10lot at the end. 355 times.

 

Recommended Deposit is Too High

The recommended deposits for FXROBOTGO are as follows.

Few people can deposit $ 20,000 in one EA.
And even if you deposit $ 20,000, it’s not safe.

Below is the result of this EA backtest with a deposit of $ 20,000. Large equity drawdowns (green curves) occur frequently.

Mystery of 10 Currency Pairs

The 10 currency pairs do not include EURUSD, the most major pair.
Maybe EURUSD is not doing well in backtesting?

Conclusion of FXROBOTGO

・ Use 10 currency pairs.
・ Has both selling and buying positions.
・ One rides the trend and repeats the take profit at 10pips.
・ The other is martingale.
It is an EA with the above unique features.

However, having operations in multiple currencies and having both positions does not reduce risk.

Losing position will be added 1.5 times lot position.

Transactions starting from 0.02lot increased to 7.10lot. It is a very dangerous transaction.
Also, the recommended deposit of $ 20,000 is too high.

Using a broker’s deposit bonus is an effective way to withstand the floating losses of Martingale EA.

However, it should be noted that the deposit bonus of most brokers is counted only in the “how big position you can have” part, and the bonus will disappear if you lose more than the deposit amount It has become. That is, the bonus cannot endure the floating loss.

On the other hand, the deposit bonus of the XM standard account is designed to cover floating losses. This is a considerable advantage.
Account opening $ 30 bonus, double deposit up to $ 500, 20% bonus above $ 500 (up to $ 5000). This is in very good condition.

* Low spread type “Zero account” are not eligible for the bonus, so it is necessary to select “Standard account (1lot = 100,000 currency)”.