RoboMiner Review

RoboMiner is one of a few different forex robots sold by Forex Goldmine. The others are GT Shadow, Forex Canatata EA, Gap Magic EA and Forex Pipstrider EA. RoboMiner is claimed to be a very profitable, but safe  EA. It is ideal for anyone new to the business of forex, since it is simple to use.  According to the vendor this forex robot makes it possible for the average person who may not have sophisticated trading skills to make a substantial profit in the forex market.

RoboMiner Claims

According to the vendor the RoboMiner EA can easily average 3%-6% per month and 100%+ per year on your invested capital.

• The vendor makes no attempt at all to back his claim as to the success of this robot. He simply invites the buyer to do his own back testing with the Metatrader Strategy Tester and see for himself.
• Testimonials: The following testimonial is a good example of what people think about the product: “First off I don’t know of any other site that lets you try their Robot before you decide to buy it. This site does because their product works. I ran Robominer on a demo account for a month and went live with RoboMiner Pro about 3 months ago. This EA does exactly what it says it does. My account keeps cranking wining trades with no losses. I recently purchased an additional Robominer Pro for a second account. I have tried other Robots and have only lost money. This one is the real deal. If you give it time and use it properly it will work for you and work as promised. Robominer is the way to go. “ (Nader Amirhosseini – Novato, CA)

RoboMiner features

• Fully automated trading system: The RoboMiner is 100% fully automated. All you have to do is to make sure your computer is on, you’re connected to the internet and the Metatrader trading platform (where Robominer operates) is running. Once RoboMiner has been set up, it will start to trade according to its own parameters with no human intervention needed at all.
• Low risk trading system: The default settings for the money management system is very conservative and ensure  very low risk trading. According to the vendor the AUDNZD currency pair could literally climb to the highest price it has ever traded at historically, and then it could fall to the lowest price that it has ever traded at historically, and your account will not margin out, provided you have not changed the default settings.
• Currency pair: By default the RoboMiner only trades the AUDNZD currency pair in a custom grid-trading system. It is recommended that beginners stick to the AUDNZD pair until they have gained sufficient experience to add the other pair.
• The RoboMiner EA does not work under the new NFA/CFTC restrictions.
• Leverage of at least 100:1 leverage is recommended. The robot does not apply the FIFO principle.

RoboMiner EA package

Different options are available, varying from $29.99/month for 24 months, $59.99/month for 12 months or $497 once-off for lifetime. This is for only one license. Different prices for extra licenses are available.

• Your price include Download the The RoboMiner (just 1 license), which trades on the Metatrader platform.
• Setup videos within the website that takes you through the whole process of how to set it up.
• A number of FAQs, which should answer any question that you would have.

RoboMiner Upsells

Two other RoboMiner robots are available as well: Robominer II and RoboMiner Pro.
The RoboMiner Pro is the same RoboMiner II system but with more flexibly and control over the settings and grids. The RoboMiner Pro can trade any currency pair as well. When you purchase the RoboMiner Pro, you will also receive the RoboMiner II EA free of charge. Different options are available, varying from $39.99/month for 24 months, $69.99/month for 12 months or $597 once-off for lifetime. This is for only one license. Different prices for extra licenses are available.

My Robominer Test Result and Conclusion

Robominer is one of the most well-known professional forex robots on the market. It’s no-loss, grid based trading strategy is very profitable, but when the currencies make a large move in one direction you can experience massive drawdowns and ultimately there is always a small risk that your account can be wiped out if historical highs or lows are broker.

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.

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