Is the Forex Trend Detector robot a scam?
The presentation of Forex Trend Detector starts with the -$60 OFF offer.
So, the devs forced us to hurry up. It warned us because it’s a common trick of scammers.
The next is a lie and manipulation again.
It’s how the account looks like. The gain is +2.1%.
The next screenshot is a manipulation too. They use a picture with the best result linked to the account with the wise worse results.
So, after having checked 30% of the presentation, we couldn’t find true just endless lies and manipulations.
We didn’t know what the devs wanted to tell, but the intel for every kind of risk looks similar. These tables aren’t clickable.
The list of robot features and strategy explanations:
- Sophisticated drawdown compensating algorithm.
- The volatility breakout strategy. The strategy just follows the money… or “follow the market impulse” resulting in reliable and consistent performance.
- High risk/reward ratio
- Tight stop loss levels
- Slippage and spread free trading
- High spread and high slippage protection systems
- A state-of-the-art (?) profit protection system
- Dynamic trading logic
- Works well without additional customizations
- Latest generation self-updating algorithm
- High average profit per trade in pips
- 100% Guaranteed long-term profits
- MT4 and MT5 compatible
Backtests
The devs provided many backtests where everything safe and sound. Across backtests, the max drawdown was around 25%. The win-rate is +/- 60%. The profit factor is not less than 1.74.
3-rd-part verified trading results
It’s a screenshot that’s been used to show robot performance. We’ve noticed how little the deposit was ($611),
It’s how the account looks like on the myfxbook side. So, the robot in 99% of cases zeroed the account and it has been removed.
Let’s come back to the demo account on IC Markets. The robot trades with 1:500 leverage on the MetaTrader 4 platform. During almost a year, the robot provided just a +15% gain. The monthly gain is 1.19%. The max drawdown is 8.1%.
The robot has got a horrible win-rate: 38% for longs and 51% for shorts. The money management system does its best to save the account. During a year there have been traded 121 deals with 311.1 pips. The profit factor is 1.51.
The robot mostly trades during the European trading session.
The last month’s trading results have brought only paint and losses. We’ve noticed that the robot never closed deals with hitting a 300 pips take profit. What the reason was to set it that high?
As you can see from the charts, Forex Trend Detector is mostly the “downs” robot than the “ups” one.
The offer
There’s just only one package that costs $237 including -$60 OFF.
For this money we’ll receive:
- One real account
- Two demo accounts
- EUR/USD and GBP/USD pairs supporting
- 60-day money-back guarantee
- Private member area access
- Detailed Manual
- Quick support
- Free updates
Is Forex Trend Detector Robot a scammer?
- A lot of lie during the presentation (especially about trading results)
- No strategies and settings explanations
- The real account was zeroed and removed
- Very weak trading results
- Very low win-rate
- Low “profit factor”
- The last 20 trades have brought 17 losses, having hit SL levels
- High price
The robot looks like a scam. Everything started with fake results and ended with the removed real USD account from myfxbook. Yes, there’s a 60-day money-back guarantee, but we wouldn’t suggest you to waste your time trying to make money with this EA.
