Darkmoon FX Tools
Darkmoon FX consists of six separate semi-automated trading tools for Forex traders. These include
The entire operation is owned by a U.K. based Forex trader named Norbert Mereg. He has included a contact form which users on the site can use to reach him. Of the six products mentioned which are all compatible with MetaTrader 4, TraderAgent, originally by ICEFx, is the one that gets the most focus. One area of concern is the nature of the software, as it is advertised as an Expert Advisor but is more of a trade manager. It is designed to keep risks at a bare minimum, enabling it to adjust take profits and stop losses based on the market.
Darkmoon FX Description
|Type: Forex Robot/Trade Manager|
|Strategy: Trend Following|
|Price: $49 – $99|
|Timeframe Used: M15|
|Currency Pairs: EUR/USD and USD/CHF|
Key features of the product
TraderAgent, the main product offered and marketed, is packed with several useful tools and features such as:
- Stealth Mode
- Trailing Stop
- Position Management
- Grid support
- 5 Trailer stop
- Spread maximization
- Predefined stop loss
- Remote position management
- Equity auto close
TradeAgent uses a trend following strategy. The website does not do a good job of providing information regarding the strategy it uses. This is a certain red flag and an area of concern for potential buyers, who look for a certain degree of transparency while looking at products to choose from. The fact that there is not enough information on the strategy certainly rings alarm bells.
Surprisingly the website or the developers did not make any effort to provide legitimate backtesting results to prove their worth. It is expected from an Expert Advisor to provide their clients with detailed trading results, from accounts on authoritative sites such as fxblue.com and myfxbook.com. This is sadly absent in Darkmoon FX’s case.
After much searching, a back test from 2011 to 2014 was found, but it doesn’t really help us determine the effectiveness of the product in 2019. The fact that no verifiable trading accounts could be found can be a major concern for people paying upto $99.
There are plenty of negative comments coming from the trading community regarding this product.
Pros and Cons
- Includes 6 useful tools
- Works with metatrader 4
- Lack of transparency
- Sluggish customer service
- No back testing/trading results included
The world of Forex can be a dangerous place for novice traders trying to get in, especially after the influx of fraudulent software claiming to be Expert Advisors. Thus, it becomes imperative for the customer to check certain factors and then judge its legitimacy before making the final purchase decision.
As far as Darkmoon FX is concerned, the products are very reasonably priced. However, because of the general lack of transparency and their failure to provide users with updated backtesting results, casts it in a negative light. Unless the developers provide us with more information on certain aspects, it is not recommended to go for this software, especially since proven alternatives are present in the same price range.