Power FX ATM is an EA, which fancies itself in the vein of well-known, legitimate Expert Advisors. While the whole premise on which the Power FX ATM pitch is built, is indeed feasible and reasonable, there are a number of problems which just make us go “hm…” The developers of the system tell us that their estimated profit numbers are between 100 to 500% a month. With numbers this high, it’s important that I fully analyze this offer to make sure that we aren’t dealing with some sort of a get rich quick scheme.
There is no information on the developer, or the address of the company, but the website is hosted in Malaysia, so it’s very probable that’s where the product is being produced out of. To get in touch with support, traders can email firstname.lastname@example.org or skype powerfxatm.
Power FX ATM Review
The Power FX ATM EA is very much like many other Forex Expert Advisors. The developers are actively telling traders that they don’t need any trading experience and that their robot comes with a 99% winning rate.
Real Forex investors know that a real Expert Advisor is only as good, as the timing of the trade. If some tells you to buy EURUSD because it is going up, you will make money, only if you buy and sell at the correct time. If you buy to early or too late, you might lose your fund.
Compare this EA with the real FXMasterBot.com.
The robot is built to take advantage of market psychology, price movement patterns and other secret algorithms that aren’t disclosed.
The system can trade with any Forex broker as long as that brokerage allows automated trading robots.
We are also told that the robot trades certain hours, but we aren’t told what hours those are, and what impact that has on the overall strategy.
Type: Forex Robot
Price: $157/month or $1999/lifetime license
Strategy: Market Psychology
Timeframe: him and, M5, M15
Pairs: EURUSD, EURJPY, USDJPY, USDCAD, USDCHF, AUDUSD, GBPUSD, XAUUSD
Warning About Fake Promises
The business model – despite its feasibility – has some major holes in it. First off, the site tries to make us believe that the EA NEVER loses as the robot is built to take advantage of market psychology, price movement patterns and other secret algorithms that aren’t disclosed. The system can trade with any Forex broker as long as that brokerage allows automated trading robots. We are also told that the robot trades certain hours, but we aren’t told what hours those are, and what impact that has on the overall strategy to make profitable trades with 99% accuracy. Legitimate EAs never make such claims, as they are fully aware that their users are never more than a bad setting away from racking up losses.
There’s an utter lack of transparency regarding the inner workings of the software, and there are no proper settings users can tinker with. We can follow instructions on how to use it, but there are finer settings which are absolutely necessary for a proper Expert Advisor, and we said earlier, we don’t really know what kind of mechanisms the strategies employ.
Automated Forex trading can be profitable and fun, as long as you are using an Expert Advisor that is fully and easily customized.