Today I’m revisiting with an automated Forex trading tool that I reviewed back in 2015, Forex Earth Robot. This trading system promises an excellent risk to reward ratio “while maintaining stable steady profits year after year.” I thought I would take another look at the system because it is still being promoted, and showing success on a handful of trading blogs.
The location of the Forex Developers, DM group is unknown, and this does seem to be their only trading product. To get in touch with support you can contact firstname.lastname@example.org. For all product reviews and ratings click here.
Forex Earth Robot Review
I have to say that I’m really quite surprised that the Earth Robot continues to be marketed. In my old review from two years ago, I uncovered that a large portion of the community found that this software was a copy of “Last X Bar EA” by funyoo, which can be found online for free. This still seems to be the case, but nobody is discussing it anymore. Hopefully the developers have made some changes to this trading system, but the latest posts about this issue were in 2014, and at that point version 2 was still an exact copy.
If you want to use Earth Robot, you are probably best doing a quick search for Last X Bar EA and picking up a free download.
I haven’t been able to find one, but I’ll see if I can come across it if anyone is interested.
The one advantage of buying directly from the vendor, is that you will likely have different settings packages that they’ve tested over the past couple of years. That being said, it’s hard to support a vendor that ripped off an EA and is selling it.
- Type: Forex Robot
- Price: $99/EURUSD, $99/GBPUSD, $199 All Pairs
- Strategy: Grid Trader
- Timeframe: M5
- Pairs: GBPUSD, EURUSD, EURGBP
There are a handful of features the developers want us to be aware of. They tell us that they have a very high win percentage with a low drawdown and that their real-time tests prove that the system can work in the long term. The EA works on any empty for broker regulated by NFA and comes with an advanced money management system built in.
What continues to drive interest for the Earth Robot, is that they provide many different Myfxbook trading accounts. Each of the account shows pretty impressive risk reward ratio numbers and consistent growth patterns.
Yet, there is something I find quite interesting, and that is the duration of the trading accounts. They have anywhere between 10 to 14 trading accounts available to show the public at one time, but they’ve all been running since January 2017. This product hit the market in 2015, but for some reason every single trading account they provide is only a few months old. That leads me to believe that this is a very dangerous strategy. Grid traders frequently blow up accounts, and that’s what we are dealing with here.
What likely happens, is the account builds up for a while, and then blows up. So the Earth Robot developers can show very impressive results for a short period of time, and then restart with a bunch of new accounts when the margin call occurs.
The Earth Robot is a true example of why you can’t always trust your own eyes. From the outside, this trading system looks like a real top performer. However, when you take a closer look you can see that the robot is dangerous and was actually stolen and repurposed years ago. If you are interested in the system I suggest you move forward with extreme caution. I will be providing a 2 star review today, but you can bet I was leaning to 1 star quite heavily.
Please let me know your thoughts on this EA by leaving your comments under this article now.