The Forex Trend Catcher is an Expert Advisor marketed as the trading system that is meant to give investors steady pips during their trading careers. It is apparent that the FTC’s developers give you the option to have the EA or just register for different account management packages. Of interest in my review will be the FTC Robot 1.4 itself and the various trading approaches it is known to use. The FTC Robot had first been designed and built in 2016 and has undergone a few improvements since them, just to make it more adaptive. It was built by an undisclosed person from Kerala, India.
FTC Robot 1.4 review and opinion
The robot’s advertisers promote it as running only through trend-following strategies and with a bit of money management and risk management instructions. The details of how it does that are still very unclear going by the website’s descriptions. The developer promises that users can expect between 90% and 95% win ratios when they place their trades, regardless of the timeframe that has been used. It is not shocking but the developer is economical with information about the actual trading approach that the robot will use to achieve that.
A good developer would be clear and articulate in explaining how the robot places its trades and what the actual money management parameters are in place. This would help people make better decisions and actually compare it with their own manual trading routines. The very technical documentation can remain a trade secret but at the very least, a little background would still inform the users without sharing too much design information. It would not be bad for competition really.
The robots trade for licenses ranging between $599 and $1499, that being a reason for me to place it at the high end side of pricing for an FX robot. To be specific, on license on its own costs $599 but you get discounts for buying more than one license. 3 licenses would take you back by $1499.
Timeframes and trading results
The robot is said to work well on all timeframes although the H1 is the most recommended by the developer. This sounds fair considering most systems get less successful on the smaller timeframes, even for scalpers. The promised 90 – 95% rate cannot be verified. There is a single Myfxbook account
that is not expressly connected to the FTC Robot 1.4. This would mean that we cannot write off the likelihood that some manual trades are still placed just like most managed accounts operate. For the price it sells at, it is a bit unusual to not display the live results of the robot in order for people to verify the success rate advertised.
The Myfxbook that has been used shows that there is intermittent trading (a clear sign that it’s an actual person trading). How reliable would the service be in that case? The most recent stats show that the account is already in a great drawdown. Such huge drawdowns are a disappointment if the service markets the FTC robot as a minimal risk product.
For the time being, I feel that the FTC Robot 1.4 service still needs a long way to go if I was to buy it. Background checks show that a lot of much needed information is still undisclosed. Buyers would want to observe the activities of the service over a longer time and see if the high risk trading maneuvers are finally sorted out. For the moment, Forex Trend Catcher EA remains a mysterious and very error-prone service that could dent your investment.