FXrobotGO is a new paid trading advisor that appeared on August 2019 and is almost not available on the Internet until mid-October 2019: no one prepares reviews for the program, does not write criticism and leaves no positive comments. The official website is fxrobotgo.com. We will be the first to evaluate the project and give a real assessment of its trade effectiveness.
Product Overview
First of all, we decided to find out how long ago the site was launched and how long it can last. To do this, we copied the current domain and used the WhoI analytical service – the site was registered on August 27, 2019, and paid until August 27, 2020. If you are interested in automated trading, then at least one year you will encounter the robot FXrobotGO.
For several months of work, a minimum of content appeared on the fxrobotgo.com page, and the site itself is in the form of one information screen and two technical pages: the conditions of the user agreement were published on the first, and the feedback form on the second (you can fill out, but there is no guarantee for the answer) . There is no information about the developers and the project concept, but there are an icon and a link to the robot being sold in the Forexstore.com online store.
WhoI service data about the domain of the Robot FXrobotGO.
Mechanism of work
FXrobotGO is a multicurrency trading program that uses ten currency pairs to analyze and conduct transactions (they haven’t published the list on the site). The developers claim that it is precisely due to the large number of trading assets that the adviser can give a stable result even at times of low volatility for several currency pairs at once. This effect is achieved due to the large number of special intelligent filters that can be fine-tuned after installing the program.
There are additional algorithms that at the right time can artificially close transactions to minimize trade losses. At the same time, each currency pair has a range of individual settings that allow you to make maximum profit in a short period. This we pulled out all the information about the algorithm, which the authors of the project published in the public domain. From this information, it is not clear by what rules one may conduct the transation and how the FXrobotGO Expert Advisor differs from a large number of similar exchange products.
Pricing
A license for the FXrobotGO robot can be bought for $ 275 and this price will include: user manual, lifetime access to an account for one real deposit, round-the-clock support and free technical updates. The program is compatible with all forex brokers that serve clients through the MetaTrader 4 terminal. Everything is complete.
Separately, there are minimum deposit requirements on the site, allowing you to use the FXrobotGO advisor in a reliable, medium and aggressive mode. For safe trading, you need at least $ 20,000, for an average mode $10,000, and for aggressive trading – $5,000 (you can reduce the numbers by 10 times if you conduct transactions on cent accounts). If the size of the starting capital is below the recommended rate, then you risk not cope with the drawdown and lose everything.
Trading results
In the lower-left part of the site, there is a reporting chart showing the profitability of the FXrobotGO algorithm – at the time of the review, there is a secelted small test period was selected for which the adviser gives out more than 180% of the profit.
The problem with this chart is its uselessness because there is a clause in the user agreement with rule 4.41 CFTC – the developers modeled all the results, held on a training deposit and have nothing to do with trading in the real financial market.
Project Features
The developers have prepared two conditions that allow customers to take advantage of the warranty period and return the FXrobotGO advisor in the first 30 days after purchase. First condition: you cannot earn anything. The second condition: the size of the drawdown on the deposit will exceed 35%. And now the most important thing: the warranty will only work if you use the recommended settings while working with the program. That is, you must replenish the deposit by the required amount ($ 20,000, $ 10,000 or $ 5,000), set the appropriate trading mode and act strictly according to the rules that will be indicated in the email along with the installation instructions. Skip at least one point – add to the lost deposit in vain the money spent paid for the trading adviser.
User Agreement Analysis
We highlight several key points that you should pay attention to before purchasing a program:
- The FXrobotGO team does not guarantee a result and warns you that you risk losing your money.
- The use of advisers is a complex type of earnings that one cannot qualitatively realized without prior preparation. Therefore, each investor is independently responsible for the results and, at his discretion, determines the situations for which it is advisable to connect trading robots. If there is no understanding, then it is better to conduct transactions manually.
- If the adviser FXrobotGO gives errors or stops working, then none of the developers and organizers of the project can be held liable for the losses incurred. All risk lies with the investor.
- If you buy a license and try to understand the FXrobotGO trading strategy, then project managers can classify you as hackers and block access to the product without the right to return the money.
At any time, the user agreement can be supplemented unilaterally and all existing customers by default must agree to the new rules. That is, from a legal position, the company fully controls the product, can quickly revoke all licenses and leave all customers without the right to compensation and legal protection of their interests.
There is nothing in reviews about FXrobotGO project and there is no mentions about it in any trading forums – this is an indirect confirmation that the adviser was developed in haste and does not contain a profitable algorithm that can generate the promised profit. If this were not so, then everyone would talk about it.
I would be careful since it is a Martingale strategy. That type of strategy tends to be risky. Better if you have a lot of money to trade with.
Just started trading less than a year ago. Was trading manually this whole time. This is my first automated trading bot. Fingers crossed!