Today, we’re going to go through a Forex robot that has become quite infamous in the community. A lot is being said about this robot and none of it is positive, so it is our job to find out why that is so.
Though it is unclear who the developers are or how anyone could buy this robot given the haphazard way the website has been put together, let’s try to give the robot its due before we reach a conclusion.
Detailed Forex Robot Review
There isn’t a whole lot of information provided on the robot’s website, which doesn’t bode well for its reputation. However, after a bit of digging, we found out that the site is based out of Budapest, on the exact server as bestearobots.com, which is a site that reviews Forex robots. The claims that are made about profits coming in an hour from signing up are a bit far-fetched and the price that is quoted for the robot is too high.
Even though the robot itself is on a review site, it is surprising how little effort they’ve made to make it transparent. From what we can glean, it appears that they’ve not spent any time on their product either.
Aqua Forex Trading Strategy Tests
The worst aspect of this robot is that there is no information whatsoever on what trading strategies the robot utilizes. Without this crucial information, they’re basically asking traders to buy this on faith alone and nothing substantial. We do know, however, that the robot trades various pairs, including the EUR/USD and GBP/USD major pairs, and runs on MT4. And, that is where the flow of information is cut short.
Anything that could potentially disclose how inefficient and impractical the trading strategies could be is completely ignored and not given the slightest of attention. For scamming, such schemes are widely seen and even reel in many gullible beginner traders. But, for trading purposes, this is just bad marketing. No one is going to purchase a product without knowing what one is buying.
Live Account Trading Results
All things considered and dismissed, let’s take a look at what the live trading results have to say. One would expect the robot to make up for the lack of information about its strategy with superior results. But, even here, they leave us wanting. Even though the robot has been on the market for many months now, the results that are shown are only of a 14-day history.
What this makes us understand is that other live accounts that were running this robot either had to suffer significant drawdowns or completely went kaput and they had to begin again with a new account.
But, even with a fresh start, knowing how small the sample size is, there are no gains whatsoever. Only losses abound. We will surely keep an eye on this account and see how it fares. But, given the fact that the previous accounts most likely ended up imploding, we have to practice caution and so should other traders.
At $298, this is one of the pricier options on the market, especially considering the fact that they expect users to lay their money down without telling them what they are going to get. Given the lack of any information on the strategy and deplorable drawdowns and losses even in a 14-day period, there is no way that anyone should consider purchasing this product. It is not worth the money.
There is no presence of the Aqua Forex Trading robot in the trading community. Wherever you look, chances are you’d come away disappointed as no one has ever reviewed it. The reason seems clear enough, no one has bought it yet. It is great that traders have steered clear of it and we hope they continue to do so.
We do not recommend the Aqua Forex Trading robot for clear reasons, lack of vendor information, shady and unclear trading strategies, unsatisfactory live results, and the high price tag.p>
Unless the robot is updated, given a makeover, and is developed further using backtests and longer time-frame live results, its reputation and presence in the market are going to stay where they are, that is, nowhere.
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