Forex Astrobot promises to provide astronomical profits with its automated trading system. This FX robot claims to give you monthly returns of nearly $16,000 without any effort on your part. The FX Robot works by analyzing market conditions and exploiting them to its advantage. As per the vendor info, this ATS uses trailing stop and money management features to minimize the losses and increase the profits.
There is minimal info provided on the vendor or the developing team behind this FX EA. Rita Lasker of the Green Forex Team endorses this product. We could not find location details or phone contact for the vendor. No info on the founding year is provided. Customer support options are limited to an online contact form.
Choosing a reliable FX robot involves finding out the efficacy of its strategy, performance, and support besides several other aspects. Traders cannot analyze every product in the market. Our reviews aim to make your task easier with our in-depth analysis and expert recommendations. Have a look at our list of best Forex Robots which will help you make an informed decision.
Forex Astrobot Features
As per the developers’ team, this MT4 trading tool uses an advanced trading method to help you reach your trading objectives. The vendor promotes this EA as ideal for individuals with any level of trading experience. Thus, newbie traders, day traders, experienced traders, and other traders can make use of the technology to gain high returns. Important features that the vendor claims makes this FX robot stand apart include:
- High profitability level
- Use of an innovative trading algorithm that is self-sustaining
- Money-management and trailing stop features
- User-friendly navigation
- The slippage is inbuilt and prevents trader entries with faulty parameters in the case of drastic price changes.
- This FX robot uses M15, M30, and H1 timeframes and supports all currency pairs. The developer recommends a minimum of $200 as the starting balance
You can purchase the Forex Astrobot for $99 which is a discounted rate with the original rate being $328. The main features included in the package are inbuilt trailing stop and money management features, a fully automated system, and profitable trades. A user guide provides help in setting up the software.
You also get a remote assistance feature which is optional. A 30-day full refund offer is given for traders purchasing this system. When compared to the price of other FX robots in the market, the price of this EA looks affordable.
How it works
According to the info provided, this FX EA analyzes market conditions and uses features like money management and trailing stop to ensure accurate trades are made. The unique trading algorithm along with other features makes sure the losses are limited. This ATS uses a reduced lot size in case of unstable market conditions.
There is no mention of the strategy used by this EA. We are disappointed to note that although Rita Lasker has developed other EAs there is no mention of the trading approach. Since the strategy is the most crucial part of an FX robot, the absence of an explanation of the approach raises a red flag. Further, there are no backtests on the official site which further increases our suspicion regarding the reliability of this FX EA.
Trading results are provided by the vendor, but they are not verified. We prefer trading results verified by reputed third-party sites like myfxbook, FXBlue, and others. The reason is such sites provide in-depth info on the trading performance. Stats like the total profit, drawdown, balance, deposit, equity, etc. help give a clear picture of the EA’s performance. Here is the trading result found on the official site:
From the above results, we can find out info such as the price, swap, commission, taxes, and more. But these are not sufficient to evaluate the ATS. Since verified results are vital to assess the performance of the FX robot, the failure of the vendor/developer to provide the results indicates this is not a reliable system.
No user feedback is present for this MT4 tool on trusted review sites like Forexpeacearmy, Trustpilot, etc. The lack of user response denotes the EA is not a popular product among traders.