Pterodactyl Forex Robot uses retracements and fractals for automatic trend trading. The FX robot has generated $52,217 in the last 30 days and $48,094 in December 2021. As per the vendor, this ATS uses a potent approach that uses a robotic version of the proprietary Fractal Breakout FX indicator.
Detailed Forex Robot review
Don Steinitz, the creator of the Forex Robot Trader company is the developer of this ATS. In the About Us section of the company, the story of how Steinitz started his FX journey is mentioned. He started with the use of the HeikenAshi Smoothed indicator. He and his team of developers have created a method to use the indicator on all timeframes simultaneously.
Steinitz now teams up with expert programmers to produce various FX robots including HAS MTF, Vader, Reaper, and Odin. There is no info on the team members and their experience. We could not find company details like the founding year, location address, phone number, etc. The lack of info raises suspicion on the reliability of the company. For support, you can use the FAQ section, the support center which offers user guides and other assistance, and the online contact form.
Important features of the FX robot that the vendor focuses on are:
- The ATS employs fractal trades decided by the market momentum and retracements.
- This is the most advanced system of the company with three times more code than normal.
- It uses the proprietary Fractal Breakout FX Indicator.
- You can use the Metatrader 4 tool on multiple currency pairs.
- The FX EA uses money management that reduces the risk and improves the trades.
- Signals are generated based on real-time calculations.
- The stealth mode of the robot allows you to hide the SL and TP from your broker.
Pterodactyl Forex Robot strategy tests
According to the vendor, the strategy comprises evaluation of an explicit trend and detecting the best orders using the retracements. On noticing a retracement, the EA identifies fractal setups and makes the deals automatically. The vendor claims that the ATS has a high trading frequency and low risk. It works on all timeframes, identifies the best trades, and applies stop management for successful trades. No backtests are present which makes it difficult to understand the strategy and its efficacy.
Real live account trading results
Monthly performance reports are provided for this FX EA. Here is the report for December 2021.
From the above trading stats, we find the total net profit is 48.094.40 for a total of 716 trades. The profit factor is 4.49 and profitability is 76.54%. A maximum drawdown of 0.01% is present. From the results, we can see the profits are high and the risk is very low. However, since the results are not verified by a reputed third-party site like myfxbook, FXBlue, and FXStat, we cannot consider them. The failure of the vendor to provide verified proof raises a red flag for this FX robot.
The price of this FX robot is $49. Originally the product was sold for $199. Now a 75% discount is present which makes the product very affordable. However, there is no money-back guarantee present. The lack of a refund offer raises doubts regarding the reliability of the system. Further, the vendor does not provide info on the features you get on purchasing the ATS.
Unfortunately, there are no reviews present for this FX EA on sites like FPA, Trustpilot, etc. Nonetheless,there are reviews for the Forex Robot Trader company on the FPA site. Here are a few of the reviews from users.
From the above feedback, we can see that the products of the company are not performing well. The recent reviews reveal that the support provided was poor and the EA performed poorly blowing up the account of the user. For 270 reviews, FPA has given a rating of 2.261/5.
Pterodactyl Forex Robot boasts of high profits with its trend-based approach. From our evaluation of the FX EA, we find it has certain advantages like its trend strategy which is explained on the official site, and the inexpensive price. However, there are several shortcomings we identified in this system. To start with, there are no backtests for this ATS. The vendor does not have verified real trading results. From the minimal info present on the company, we find there is a lack of vendor transparency.