The Trends Tracker Pro service is a defunct forex trading software which was supposed to enable traders to be able to profit from the trend. Although a few Myfxbook results were paraded to buttress the trading efficacy of the software, some disturbing details later emerged in 2017 about what this software was really all about. But let’s not let the cat out of the bag too quickly.
Introduction: The Trends Tracker Pro
Trends Tracker Pro was a forex software that was based on trend trading principles, at least according to the software vendors. To buttress the “trend trading” principles, a snapshot from Myfxbook was presented as proof of how profitable the software was.
This chart shows that the software made 384.57% profit between January and April 2017. No clear definition of the strategy is provided, but the software is supposed to trade only four currency pairs (EURUSD, GBPUSD, USDJPY, USDCHF) and comes with two years of backtesting data. The price of the software is $297 for a single basic license and $597 for one ultimate license.
The key question here is this: for such a hefty price tag, is the Trend Tracker Pro software one that a trader should trust or trust? Here are the answers.
Trends Tracker Pro: To Trust or Not to Trust?
Trend Tracker Pro looks profitable, but should this brand be trusted? The answer is NO: Trends Tracker Pro is a brand that you should not trust. As mentioned earlier, some disturbing details about the Trend Tracker Pro have been unveiled, and they are presented below.
The software comes with a heavy drawdown percentage.
Evidence of piracy.
Numerous scam complaints leading to site shutdown.
Let’s look at these one after the other.
Drawdowns are the biggest risk in forex. The higher the drawdown, the more likely it is that an account will eventually be blown. The vendors of Trend Tracker Pro present a rosy picture on Myfxbook, but if you dig further down, you will find that this supposedly profit pattern comes with an incredible drawdown risk of 20%!
Compare the large drawdown in April 2017 with the trade performance chart in the 1st paragraph. You can see that the profit performance was already beginning to plateau out. It is noteworthy that the Trend Tracker Pro team did not post results for subsequent months. It would have been interesting to see if the profit performance was maintained. Our bet is, it was not.
After paying for the ultimate license, it appears that one user identified that the source code of the Trends Tracker Pro software was copied verbatim from another EA which is actually free. The user even presented evidence with which he was able to claim a full refund from the payment processors. This was eventually reported to the owners of the original software (swb_grid_188.8.131.52), who swiftly moved to have the site shut down.
More Scam Reviews
More people have come in to label the Trend Tracker Pro as a scam software.
Note the date on this review, provided on Forexpeacearmy.com. This was provided in April 2017, shortly before the service went off the web. Now we can see why no Myfxbook results were posted after April 2017. The software was identified as a scam and pulled from the internet. The website (www.trendtrackerpro.com) is also offline.
Conclusion: To Trust or Not to Trust?
Do not trust the Trends Tracker Pro software. All the evidence shows that it is a monumental scam. Many traders are still trying to get their money back. Thankfully, it is no longer available for sale and so no more traders will be entrapped into coughing out such a huge sum of money for its ultimate license.