FX Automater has released the next version in its line of products designed for automated trading. As usual, the presentation on the site looks very solid; developers do not skimp on the work of designers. What do they offer and what’s the price? Will the gold bars drawn on the box really turn into money in our account?
Let’s list the main, according to the presentation, innovations in the work of the robot: Drawdown Protection System, Precise Entry and Exit Trading Algorithms, Revolutionary “Go Long” Trading System, Intelligent Money-Management System, and Fully automated – just “Set-and-Forget”.
Like the Volatility Factor, the program includes the BROKER SPY MODULE function that helps to prevent abuse and fraud by brokers. The presentation also contains a screenshot of the 14-year backtest, which, like in the previous presentation, has little to do with reality.
For the price of $197 (includes $200 discount) we will get one account for trading for real money, demo accounts, BROKER SPY Module, Advanced News Filter, and 60-Day Unconditional Money-Back Guarantee.
Forex Gold Investor: To Trust or Not to Trust?
This developer of automated trading software has one problem that applies to all of its products. It is due to the fact that their trading robots stopped trading well by the mid of 2017, after which they showed only a loss of funds over the next two years.
About any growth, a speech does not even go. After which the developers decided to release an updated version of the product. Which at best shows several times worse results than the original product.
In the comments, people asked whether it’s time to trade for real money if you are selling this kind of product. All their robots trade on demo accounts. A year ago, a company representative replied that they would start trading on a real account. As you can see here we were deceived. There has been a promise, but no results. Basically, this can be a review’s end. We will analyze robots performing in order to bring complete clarity..
The main robot account is a demo one, and uses Alpari as a brokerage company, running on MetaTrader 4.
You can easily notice two periods of the robot’s performing. Even on first two years period the robot couldn’t run smooth and without drawdowns.
Account drawdowns are very high (52.82%). So we see the same like we have seen with Volatility Factor 2.0 Live.
The last two years got 13 months of gaining and 10 months of losing. It’s very bad results for the main account of the robot seller.
The main account drawdowns we have shown earlier. Drawdowns of this account not so high (19.92%) but they are consistently.
They were less in October 2019, so we got the same conclusion: the robot should keep performing.
Enough level of Transparency
The main account info is empty. This looks not solid as for the robot seller and rather scares away customers than attracts.
The account has high enough level of transparency showing a lot of statistics.
Conclusion: To Trust or Not to Trust?
We talk about FX Automater again. We would like to say this robot is good to buy, but it wouldn’t be a true. The seller runs their robots only on demo accounts, as well as, they have promised to open a real account for their potential buyers and didn’t fulfill the promises.
You can take such risks and buy this robot, or you can answer a simple question, is there any reason to rush if you have a choice? Yes, they promise to return spent on buying the robot money within 60 days, but is this robot worth spending two months on it?