HAS Forex Robot uses the “law of multiple timeframes” for trading across all currency pairs. It analyses lower and upper timeframes to pick up a trend and to get more confluence on trades. The algorithm is only available for the MT4 platform. Our review below will cover the essential details about the robot to understand its benefits and demerits.
Detailed HAS Forex Robot review
The robot is sold on the Forex Robot Trader website, where the vendor provides the logic behind the working of the robot, its features, and how to set it up. They provide live trading results as links on the website to explain the EA performance.
HAS Forex Robot was developed by a person named Don Steinitz. His profile claims that he is based in the USA and has vast experience in many fields like accounting, poker, and casino. Don says that he is a professional at MQL coding and has been producing and selling robots in the Forex industry for many years. Besides that, there are no certifications or credentials to prove the credibility of this seller.
The robot has the following set of features:
- It is straightforward to set up and use.
- The algorithm is 100% automated.
- It can scan 8 different time frames at once.
- Traders can use it with micro, mini, and standard-size accounts.
How does it work?
The robot works by following the steps mentioned below:
- Purchase the bot from the website
- Download the EA files onto your PC
- Launch MT4 platform
- Drag the EA files on your charts section and start trading
HAS Forex Robot strategy tests
The developer states that the robot uses the Heiken Ashi indicator and multiple time frame analyses to trade the market. Using the candles, it can judge the change in market sentiment and volatility. From the trading history available on the website, we deduce that the algorithm uses a trailing stop-loss when the position enters the profit. It trades on multiple currency pairs.
There are no backtesting results provided by the vendor that may help us assess the historical performance of the robot on various accounts. This points towards a lack of transparency by the developer, which is not a good practice.
Real trading results
The website contains links to the live trading results for the EA. However, these results are not verified by agencies like Myfxbook and FXStat. Therefore, they could be subject to manipulation.
February 2022 results indicate that the system had a balance of 6086 697.45. The profit factor is not even stated in the stats, which raises suspicions. All the drawdown values are reported as 0, which looks pretty unrealistic. The robot participated in 426 trades, for which it had a margin value of 16410.18. The largest profitable trade was recorded as $1754.4, while the loss was -$0.
The robot is sold for a one-time price of 49 USD. Payments are accepted through PayPal and credit cards. The seller’s terms and conditions indicate that a complete exchange is granted if the product turns out to be defective. No information about a refund is provided.
The company has a total rating of 2.262 for 240 feedback on Forex Peace Army. However, there are no specific reviews available for HAS Forex Robot. A customer commented about the Odin robot and said that he had been unable to download the system after making a purchase. The trader submitted many tickets but all in vain.
HAS Forex Robot's seller does not provide enough information like backtesting records on their website. Also, the reviews on third-party websites like Forex Peace Army are poor. There is no transparency on the live performance of the system.