Reaper Forex Robot is a trading solution that belongs to the FRT company. The presentation includes only general information about the system’s functionality. Forex Robot Trader, the company that stands behind this EA, claims that this robot can cause havoc on the markets. They add that Reaper Forex Robot is the next generation FX EA that will change the way we trade. So, we are going to check whether this trading solution is as good as its devs claim.
Detailed Reaper Forex Robot review
The developers provide some claims about the advisor functionality. We have grouped them out in the following list.
- The system can provide us with a completely automated trading experience.
- The presentation includes some screenshots of how the system functions on the terminal.
- The robot was designed around legendary system robotic blood lines. It sounds fake. It’s impossible to trust a claim like this.
- It manages the market 24/5 for us.
- The advisor works for thousands of traders every day.
- It’s another claim that can’t be verified.
- The robot trades on all time frames and cross pairs.
- We may start using it without relevant trading experience.
- The system can be set to trade within ten minutes.
- It looks for breakout possibilities.
- The charts have hidden support and resistance levels.
- So, the system knows when the breakouts happen.
- It opens orders in the proper direction.
- We can work on the same account manually or with order solutions if we want.
- The account size can be any.
Reaper Forex Robot strategy tests
According to the claims, it looks like the system works with a Breakout strategy.
The presentation doesn’t include backtest reports. It’s a significant con because we don’t know what results the robot could manage to receive working with the past data.
Reaper Forex Robot trading results
The presentation includes monthly reports that were formed from an account. The account number informs us that this is a demo profile. There’s no intel about the broker where the system worked.
The robot runs an account of $13.1M. The profit factor is 8.0. The maximal drawdown is 0.01%. There were 816 deals traded with a win rate of 83-84%. The win streak is only six orders. An average win is $198.83 when an average loss is -$129.86.
We can buy a copy of the system for $79 with a $120 discount. Unfortunately, there are no details about what features the package has. Also, there’s no money-back guarantee applied.
The presentation doesn’t include any kind of verified testimonials from former clients. It’s a con because we don’t know if the system works well for traders. It’s twice important taking into account that the robot doesn’t have verified trading results.
Reaper Forex Robot is a trading advisor that has a simplified and brief presentation. We don’t know the reason why the developers avoided providing us with relevant backtest reports to show that the system is safe. Also, the presentation doesn’t include any kind of trading results.
Usually, the developers create a real account that is connected to Myfxbook where trading results are delivered. Additionally, we don’t have a refund policy that could protect us if the robot won’t be profitable on our account.