Live Robot Tests
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Old Page (Last Updated September 2010
Robots That I’m Currently LIVE Testing
- Forex Megadroid
Forex Megadroid has always performed very well in backtests, so switching it over to a live account was the next logical step. The current test is running on an Alpari UK live account, using version 1.21 of Forex Megadroid, with Aggressive=False and Recovery=True.
- Fap Turbo
This test is running on a live account with the Gallant FX broker. For this test I’m using the “Medium Risk” settings provided by Rob Casey in his Fap Turbo Expert Guide. Rob’s settings were very profitable during demo testing, so I decided to move these over to the live account as is.
Robots That I’m Currently DEMO Testing
- Forex Bulletproof
This robot was released on 31 August 2010 by the creators of Fap Turbo. It’s supposed to be a very safe, consistent system that earns 5% per month consistently with no losing months in the last 6 years.
- Forex Crescendo
I was asked by the creators of Forex Crescendo to test their product and because they have created some very good manual trading product in the past I am very excited to see how their first EA performs.
- Probability EA
I didn’t know about the Probaility EA until the creator (Michael Scofield) asked me to test it. The website and installation documents certainly looked very professional, so I decided to add this one and see how it performs.
- Green Forex Robot
After the impressive performance of Rita Lasker’s Fish Forex Robot I was immediately interested when I saw that she released this new product. In her opinion it will be the best Forex robot for 2010.
- Fish Forex Robot
A friend suggested that I check out the Fish robot and I was quite impressed with what I found, so I decided to put this one to the test and see if it really is something different as the developer promises.
- Forex Combo System
The creator of the Forex Combo System contacted me and asked to test his EA. This system consists of a scalping, trending and counter-trend strategy and the statements he provided me shows very immpressive results, so I decided to add it to my own tests.
- Forex Overdrive
Forex Overdrive is one of 4 products offered by Cory Ross that I’ve heard some good things about. I contacted Cory and he agreed to give me an evaluation copy of the software so that we can test it and compare to the others on this list.
- Forex Signal Safe
Forex Signal Safe is another product by Core Ross that I find very interesting. It’s an Expert Advisor like all the other products on this list, but the difference is that it trades according to the signals of a real live trader. You select the trade who’s signals you want to use and then the EA trades accordingly. This is a very unique approach and I look forward to seeing how it perform.
Robots That Failed The Test
(Please contact me if you require the final account statement for any of the below tests)
- Forex Supersonic
Right from the start this robot just didn’t perform as promised. I tested Forex Supersonic for 2 months and it made a loss of 20% over that period. I’m afraid this is has proven to be one of those hyped up products that doesn’t deliver.
- Forex Harvester
Unlike most other robots on this list Forex Harvester actually made a profit over the 5 months that I tested it. This profit was unfortunately only 6% and because the robot does not perform anything near the 1–20% per month as promised I decided to stop testing it. Due to the risks involved most people are not satisfied with a forex robot that produces less than 1% profit per month.
- Aeron Robot
The Aeron robot actually performed quite well in my tests, but because it has Martingale components in its strategy and because a single trade wiped out more than half of my account I decided to stop testing this one. I’ll keep an eye on new versions and consider testing it again in the future.
I had high hopes for Robovore because the sales page has none of the usual hype and it really seemed to be something different. Unfortunately I’ve had nothing but losses so far and after 3 months I think I’ve given it enough of a chance to perform.
- Forex Enforcer
I tested this robot for exactly 2 months and over a total of 35 trades it made a loss of 44% for this period. Forex Enforcer did not have a single profitable week since I started testing it, so based on these results I see no reason to test it further.
- Forex Robot World Cup – LMD MultiCurrency,Fusion-V & Hirider
I installed these robots on the day the FRWC product was launched and ever since then they have just been nothing but a disappointment. My poor results correlate with feedback I’ve receive from other users, so it’s definitely not just me. People are also having major problem getting refunds from them, so count yourself lucky if you didn’t buy this product.
- Forex GodFather
Forex Godfather showed promise at first, but it ended up disappointing. It only trades as little as once every 2 weeks and during my testing it ended up with an overall loss of -14% over 2 months of testing.
- FX Broker BusterFX Broker Buster made a loss of 15% over 2 months of testing and never showed any real signs of good performance. Customers experienced good performance with this robot for a while in 2009, but since then it has only gone downhill.
This robot uses a Martingale strategy, which is definitely NOT RECOMMENDED to any type of trader.
- Forex No Loss Robot
This robot never makes a loss if you look at closed trades, but if you look at open trades you’ll see that it uses no stop loss and hangs onto losing trades until they turn a profit..no matter how long that takes. This results in massive drawdowns that will inevitably cause a margin call somewhere down the line. This robot’s strategy is simply too risky and I don’t see the point in testing it further.
- FX Nitro
I had high hopes for this robot, but unfortunately it turned out to be a disappointment. The test account is currently 43% in red figures and it doesn’t seem to be able to recover from this. I think it’s time to stop testing FX Nitro and reconsider it again when/if the new owner releases an update.
- Forex Bling
I’ve been testing Forex Bling for more than 2 months and so far it has only made a loss. In my opiniion this robot is complicated to set up, too expensive and not worth testing any further.
- Forex Hacked
I’ve tested Forex Hacked with different settings and so far it has killed my account twice. There is no getting away from the fact that this robot uses Martingale strategies that are just to risky for most traders. I started my latest Forex Hacked test with $3000 and in exactly 10 days this account was reduced to $1. I think it’s time to move on.
Robominer has many fans, but I’m afraid I’m not one of them. It’s an expensive robot that uses a risky trading strategy to produce small gains. The grid trading method it uses has some merit, but in the end you still end up with a large amount of open trades in drawdown and no stop losses. This robot may work well for a while (perhaps even a year or two), but there is always a chance that one of the currencies will break out of it’s historical range and wipe out your account.
- Forex Cyclone
I tested Forex Cyclone for 6 weeks and it made consistent losses right from the start. For the time being I don’t see any reason to keep on testing this robot.
- Forex Decimator
The only thing this robot decimated was my demo account. I tested it for 30 days and it made a loss of 30%.
- M5G Cyborg Robot I
was very excited about this robot, until it lost more than 60% of my demo account in 1 week. This robot seems to be very accurate, but the risk of making such big losses are just not acceptable to me.
- Forex Monster
I tested Forex Monster for a month and during that month it only traded 8 times. It also made a loss of 10% during this month, so all in all I don’t see any reasons to continue testing this product.
- Forex GridBot
Did not do too bad in testing, but it never made consistent profits. Every good period of trading was followed by a bad one and the account just never seemed to go anywhere. Based on the results of the 2 month test I performed, this robot just doesn’t seem to be worth using on a live account.
Made a good profit in testing, but it turned out to be an illegal copy of another free robot, which you can download here. I also tested PipTurbo in my live account and did not get the same positive results that I saw in demo, so I decided to stop testing this one for now and focus on some of the newer products.
I tested IvyBot for more than a month and frankly this robot just went nowhere. It only made 14 trades and the account ended up at breakeven. I would have to say that this robot doesn’t perform as advertised.
I would like to add some more robots to this testing portfolio, so please feel free to send me an email if you have any specific products that you would like to see tested and don;t forget to vote in the poll above. Register below to receive the latest results in your inbox every week, as well as new reviews, scam alerts and other Forex news.
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