Forex Bulletproof Review
Note: See my test results and recommendation at the bottom of this review
Forex Bullet Proof was developed by the same team of five programmers, among who Steve, Mike and Ulrich who had also developed FAPTurbo, FAPTurbo Evolution, Forex Killer and Forex Autopilot.
Forex BulletProof Claims
Unlike the claims of outrageous profits made by vendors of other forex robots, these guys claim that their robot will deliver a steady 5% growth in capital per month and that this will continue for at least 5 years, with no downfalls in between, in spite of some losing trades which are bound to happen. Your capital will be secured by several safety nets. They call this “automated passive moneymaking”. One pre-requisite is that the number of users are limited so that the market will not be influenced by many people trading in the same direction day after day, minute after minute. They restrict the number of copies to 10,000.
Credibility of vendors of Forex BulletProof
- Experienced developers: The team consists of five developers, among which have successfully developed other well-known forex robots: FAPTurbo, FAPTurbo Evolution, Forex Killer and Forex Autopilot.
- Tough source code programming! Forex BulletProof has over 4,000 lines of code, more than double the coding effort of Forex MegaDroid or FAPTurbo! This means that Forex BulletProof has an impeccable ground structure, detailed and organized programming routines, and a distilled fault free code.
- Experienced and successful forex trader: Steve C., the real guy behind this robot, has been successfully trading forex for 10 years, so he has a lot of experience.
- Real/live trading account screenshots and MyFxBook: Steve C. has already traded with this robot successfully for 6 years, at a rate of 5%+ per month and he proves it with screenshots from three live accounts: 8.42%, 7.76% and 7.91% per month over extended periods of time. This is with the conservative setting. With the aggressive settings the screenshots proves gains of 20%+ in two weeks.
- As many as 8 people are ready to support customers with any questions, and they are backed by the team of 5 programmers.
How does Forex BulletProof work ?
The system is based on one crucial assumption: That huge amounts of money shifts from one currency market to another based on asset transfer from one trading market to another. If Americans want to buy stocks in Euro, they have to buy Euros to do so, since that’s the currency in which stocks trade in Europe. The European stocks markets open only after the US ones have closed, so this transfer will happen within a short space of time. The robot’s entry is set to coincide with this “moment” when there’s a huge demand for euros from the US markets. This means that the robot will always go long in the EURUSD pair. The same applies for trading in the USDJPY pair. When the Japanese stock markets close for the day, the US markets are set to open, meaning that there will be a huge demand for USD from Japan, and the robot will be long in USDJPY.
In short: These currencies move in the same direction every day and the robot is set to take advantage from this – unless trade is suspended due to volatile conditions.
It is clear that everything will blow up in your face if your time settings the are not correct. You will simply enter the market on the wrong time. What happens if the market does not move in the expected direction at the time of entry?
The robot simply adds more lots (after a 10 pips move), assuming that the market will eventually turn positive.
Capital secured: If the market gets out of hand or a strong unexpected trend emerges, the subsequent trades in the robot’s trading cycle will re-hedge the initial ones and the cycle will be closed immediately. No margin call will ever be produced.
Other features of Forex BulletProof
- Minimum accounts size for accounts trading microlots: $450 for EURUSD and $4000 for USDJPY.
- Target: Set at only 7 pips
- Stoploss: 500 pips
- Forex BulletProof automatically adapts to 4-/5-digit price quotes, but does not support ECN brokers.
The Forex BulletProof Package
For the price of $147 you get the following:
- the Forex Bullet Proof Expert Advisor
- a 32 page PDF User Guide
- Video tutorials
- Ongoing Updates for life
The installation is simple with the auto-installer. The license is restricted to 1 live trading account at a time but the user can change the account if needed. Only 10,000 copies will be sold. Once you’ve bought Forex BulletProof, you are entitled to purchase Forex High Voltage, which is a more aggressive version of the robot. 60 days money back guarantee when screenshots of your account showing how you traded with Forex BulletProof.
My Forex Bulletproof Test Results and Conclusion
I tested Forex Bullterproof for 3 months and ended up with a net loss of -4% for the period, so the performance has been nothing like advertised. More importantly, this robot uses a Martingale system that exponentially increases lotsizes when drawdowns occur. This works most of the time, but I have no doubt that this strategy will eventually wipe out the account in a single drawdown. See my testing stats and account statement on the Forex Robot Testing page. Based on my own test results I wouldn’t recommend this product to anyone and would definitely suggest that you focus on one of the robots on my Top 5 list or subscribe to my weekly robot testing newsletter.
