Pterodactyl Forex Robot claims to use fractals and retracements for its automatic trend trading. The vendor states that the FX EA has a high level of intelligence that is capable of producing big returns. This ATS is fully optimized to work on any currency pair.
This FX robot is created and promoted by the Forex Robot Trader company. Don Steinitz is the founder of the company. He and his team of programmers have developed many FX robots including the Pterodactyl robot. The main aim of the company is to provide the best FX EAs and indicators in the market. Other products of the company include Ganon, Vader, Odin, Falcon, and more.
We could not find any details on the About Us section concerning the founding year of the company, the trading experience of the team members, location address, etc. The absence of info shows a lack of vendor transparency.
Features
As per the vendor, the key features of the ATS that make it competitive are:
- It is built using an advanced code system which gives it the capacity to handle numerous fractal calculations per minute in real-time.
- The code used for the system is three times the normal amount making it more effective.
- It is capable of working on any currency pair.
- The ATS uses a powerful money management method that optimizes the trades and minimizes risk.
- It uses real-time calculations for determining the efficacy of a signal.
- The FX robot hides the SL and TP in stealth mode that helps to prevent broker-stop hunts.
- No manual trading is needed as you can start trading with the software in a few seconds.
- It trades 24/7 leaving you to sleep peacefully without having to worry about monitoring the markets.
A trend-following approach is used by the FX robot. It assesses the best entry point based on retracements. When the robot identifies a retracement, it designs fractal setups and automatically trades them.
How to start trading with Pterodactyl Forex Robot
This ATS works on the Metatrader 4 platform that uses high-frequency and low-risk trades. It uses multiple timeframes starting from the one-month time chart to the 5-minute chart. There is no mention of the recommended deposit, leverage, broker, etc.
You can buy this FX EA for $49. The original price of the product is $199, but the vendor has provided a 75% discount for the product now. There is no further info on the features available with the package. No money-back guarantee is present, which makes us suspect the reliability of the system. When compared to the price of competitor systems, we find the price is affordable.
Backtests
No backtesting reports are present for the system.The lack of backtests also prevents us from understanding the strategy used and its efficacy. Although the results from the backtests are not predictive of future performance, traders still prefer the backtesting due to the insight it can provide on the system.
Unverified trading results of Pterodactyl Forex Robot
No live verified trading results are present for this system. Instead, the vendor provides monthly performance reports. Here is the performance report for February 2022.
From the above stats, we can see that the EA has generated a total net profit of 33,463 and a profit factor of 4.28. For a total of 554 trades, the profitability is 75% and the maximum drawdown is 0.01%. From the low drawdown and high profits, the report indicates the FX EA is performing well. However, these stats are not verified by a reputed third-party site. We prefer results verified by sites like myfxbook, FXBlue, FXStat, etc. The lack of verified proof makes it difficult to assess the performance of the system.
Assistance
For support, the vendor provides an FAQ section. An online contact form and a support center are present. There are no other methods like live chat, phone contact, etc. available.
Customer reviews
Unfortunately, we could not find user reviews for this FX EA on reputed sites like Forexpeacearmy, Trustpilot, etc.
Is Pterodactyl Forex Robot a viable option?
Advantages
- A fully automated system
- Affordable pricing
Disadvantages
- No verified trading results
- Absence of vendor transparency
Summary
Pterodactyl Forex Robot uses trend trades to ensure accurate trades and high profits. Our evaluation of the system reveals a lack of verified track record and an absence of backtesting results that prevent us from analyzing the efficacy. The lack of info on the vendor indicates an absence of vendor transparency. While the cost is cheap, the absence of a refund offer makes us suspicious of the reliability.
