R0B0.1 is a 100% automated Forex EA that claims to let you trade even without any prior trading experience and to eliminate emotions from the trading process. The vendor portrays the robot as a functional system that’s affordable for all kinds of traders in a time when the Forex market is riddled with scams and fake offers. It promises to minimize your losses while making your profits reach new highs.
Detailed Forex Robot Review
On the official website of R0B0.1, the vendor has provided a brief overview of what the system is about and how it functions. We have a video showing how the software was backtested, along with pricing details, and a list of main features. The vendor has also included a few paragraphs on how this robot can transform your trading experience and help you attain better results.
R0B0.1 was founded in 2016 by a group of friends, and after many years of testing, it was finally launched on the market. Now, we have no idea who these people are, and what background they belong to. The vendor has not revealed the identity of any team member, and we don’t know where the company is based. Thus, we can say that there is a lack of vendor transparency for this Forex EA.
You can use this robot to trade in 28 different currency pairs while starting with an account balance of $250. It works on the Metatrader 4 platform with 90% accuracy and runs 24/7 so you don’t have to worry about missing out on lucrative trading occasions.
The vendor claims that this robot monitors the different pairs in an intelligent manner and uses advanced algorithms for monitoring the market conditions. It takes all the necessary actions while taking the psychological element out of the process.
R0B0.1 Strategy Tests
R0B0.1 uses 10 special indicators for monitoring the market, as the vendor has mentioned, but we have no idea what these indicators are. There are no technical details about the trading strategy, which we think is not a good sign. Forex traders often look for strategy insight before investing in a robot, and they might face difficulties gauging the system’s profitability since there is no clear explanation of the strategy.
From the backtesting data provided on the official website, we can see that the system generated a total net profit of $2339.05 from an initial deposit of $1000. This test was carried out from September to December 2020 with a modeling quality of 27.34%, which is quite low. Nevertheless, 21 trades were placed for the USD/JPY pair during this time, out of which 20 were won, and this means the system had a win rate of 95.24%.
While talking about the backtest, we should also mention the low relative drawdown of 3.12% and the incredibly high profit factor of 55.83. While the results are more than satisfactory, it should be taken into account that the test was conducted over a short time period with a low modeling quality.
Live Account Trading Results
We were unable to find a live trading account for R0B0.1 on websites like FXBlue and Myfxbook. Experienced traders always look for live trading results that are independently verified by these two websites, since it ensures that no trading results are hidden from public view. Here, we can see the true performance of the system in the live market.
In the absence of live trading results, there is no way we can determine whether the robot can win you profits in a real-time trading scenario. The vendor must include this in the future if they wish to be taken seriously by the Forex traders community.
The lifetime license for R0B0.1 can be purchased for $147, but there is also a subscription option available. You can also use the software by paying $37 every month. Compared to other Forex EAs in the market, the price is pretty standard. The vendor also has a 30-day refund policy, so you can get a refund by returning the product in the same condition, along with the receipt.
There are no customer reviews for R0B0.1 on popular review websites like Myfxbook, Quora, Forexpeacearmy, and Trustpilot. Clearly, it has a long way to go before it earns a reputation for itself in the market.
At the end of our review, we would like to say that R0B0.1 is a system you probably should not invest in.
There is no proof that this Forex EA can earn steady profits in the live market, in spite of the vendor claiming a high win rate.
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