- Website: forexrobotron.com
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Forex Robotron Review
This Forex Robotron review explores a popular automated trading program. Designed for use with MetaTrader 4, it can be used with hundreds of popular STP/ECN brokers, making it suitable for beginner and veteran traders alike.
Forex Robotron has been tested using real data and it also uses a tight stop loss, which also sets it apart from many other trading robots. This should reduce the risk significantly and protect your capital by limiting your exposure. The back-testing date for this robot is displayed on the Forex Robotron homepage, yet it should be noted that this is shown as static screenshots. There’s no up-to-date results or data, which is why our Forex Robotron reviewers decided to dig a little deeper.
Continue reading our review of Forex Robotron to learn exactly how the robot works and whether or not it could help to improve your trading activity.
How does Forex Robotron work?
Forex Robotron is a piece of software designed specifically for the MetaTrader 4 forex trading platform. You can use it with any broker, as long as they have MT4, however, the developer does recommend that you opt for an ECN/STP broker.
Our Forex Robotron review experts found that this robot generates the best results in an environment with low spreads, low commissions, fast execution, and no limitations on stops. It works with EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/USD, GBP/AUD, USD/CAD, and USD/CHF on five-minute charts.
This EA program can be used 24 hours a day, yet it only opens new trades between 21:00 and 22:00 GMT in the summer months and between 22:00 and 23:00 during the winter months. This is disappointing as it makes it unsuitable for some traders yet, according to the developer, these are the hours during which Forex Robotron performs best in terms of trading volume and accuracy.
The automated trading software comes complete with profit and loss features. When activated, the loss feature will close a trade as soon as it goes into a loss. The profit feature, on the other hand, will ensure the robot exits at the best possible time.
To get started with Forex Robotron, you need to have MetaTrader 4 installed. You then need to transfer the Forex Robotron files to the right folders in MT4. This is easy to do and Robotron comes with complete instructions. Once installed, you can simply drag Forex Robotron from the Navigator window onto the appropriate chart.
Forex Robotron allows you to tweak a variety of settings, which include lot size, risk percentage, trading style (aggressive, normal, conservative) and more. This means you can adjust the robot to your preferred trading style and then sit back and watch it do all the work.
How much does Forex Robotron cost?
To create this in-depth review, we looked at all four of the different Forex Robotron packages: Basic, Standard, Gold, and Premium. The difference lies in the cost and the number of licenses.
The Basic package, for example, includes a license for a single account at $299. The Premium package, which is the most expensive option at $999, offers licenses for an unlimited number of accounts. All the packages feature a lifetime of updates and dedicated support.
Unfortunately, Forex Robotron has a strict no refund policy. This is somewhat concerning, especially when you consider the fact the developer also points out that you may have weeks where you don’t make a profit.
When compared to other robots, this review of Forex Robotron found the software to be competitively priced, especially considering the results.
When should I use Forex Robotron?
Our Forex Robotron review team recommends that this software should only be used by experienced traders who have a firm understanding of market conditions and a sizable account balance.
Complete beginner traders shouldn’t attempt trading with this automated forex trading software, especially if they’ve never used an EA before. This is due to the fact you can’t get your money back if you don’t like Forex Robotron, and so you need to be very certain this is the correct robot for you.
Pros and cons of using Forex Robotron
- Includes a strict stop loss feature to protect your capital
- Easy to install and to use
- All packages include a lifetime of updates and support
- Limited trading window and currency pairs could result in missed opportunities
- No explanation of the strategy the robot uses to trade
- Results are only shown as screenshots and not updated regularly
- Strict no-refund policy
Is Forex Robotron easy to use?
Our Forex Robotron review team found this automated system very easy to use. The developer provides detailed instructions and it only takes a few minutes to set the software up.
Compared to other forex trading robots, Forex Robotron is very user-friendly and doesn’t fall into the trap of providing so many options that it becomes overcomplicated.
Forex Robotron is an automated forex trading system suitable for any trader who has in-depth experience using EAs. It has various features that will allow you to trade according to your preferred style, whether you’re more conservative or aggressive.
If you want to check out Forex Robotron, below you will find a list of the best forex brokers to use in conjunction with this software.