Live Forex Robot Tests

On this page you will find all the Forex Robots that I am currently testing. The account statement for each robot is published at mt4live.com and updated every 4 hours. I believe that most people don’t want to fiddle with a lot of settings, so for these tests I try to use the default settings as far as possible. Each robot will be tested for at least a period of 1 month. For the latest test results and feedback, register to the right to receive my weekly newsletter.

Robots That I’m Currently LIVE Testing

1. Fap Turbo [Click Here For the Latest LIVE Account Statement]

   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.

2. Forex Megadroid [Click Here For the Latest LIVE Account Statement]

   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.

Robots That I’m Currently DEMO Testing

1. Forex Bulletproof [Click Here For the Latest Demo Account Statement]

   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.

2. Forex Crescendo [Click Here For the Latest Demo Account Statement]

   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.

3. Probability EA [Click Here For the Latest Demo Account Statement]

   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.

4. Green Forex Robot [Click Here For the Latest Demo Account Statement]

   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.

5. Forex Harvester [Click Here For the Latest Demo Account Statement]

   Forex Harvester was recommended to me by another EA tester. He stumbled upon this robot by accident and was amazed to find only good feedback from real customers. This EA seems to be the real thing and I’m very curious to see it performs.

6. Fish Forex Robot [Click Here For the Latest Demo Account Statement]

   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.

7. Forex Supersonic [Click Here For the Latest Demo Account Statement]

   Forex Supersonic uses a simple breakout strategy to trade the GBPUSD and GBPJPY currency pairs. One thing I like about this robot is that the creator of this robot (John Wilson) explains this strategy in detail in the manual.

Robots That Failed The Test

(Please contact me if you require the final account statement for any of the below tests)

1. 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.

2. Robovore

   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.

3. 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.

4. 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.

5. 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.

6. FX Broker Buster

   FX 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.

7. USDBOT

   This robot uses a Martingale strategy, which is definitely NOT RECOMMENDED to any type of trader.

8. 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.

9. 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.

10. 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.

11. 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.

12. Robominer

    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.

13. 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.

14. 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%.

15. 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.

16. 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.

17. 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.

18. PipTurbo

    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.

19. IvyBot

    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.