Manhattan FX is a new Forex robot developed for meta-trader 4. The first sentence on the website explains that their robot is the market leader algorithm. This really doesn’t seem to make any sense to me and really comes across as gibberish but hopefully the product is more professional than the website.
Today I’ll be putting together a quick review and analyzing this new automated scalping system.
Manhattan FX Review
According to the website, the people who put together the Manhattan FX system are 12 industrial experts with decades of trading experience. I assume they mean industry experts. The group of traders are from New York City and are made up of veteran brokers and young engineers. They started working together in 1998 and the development phase of this system started in 2008. So they are telling us that they’ve been working on this software for 8 years. For a bunch of experts that seems like a really long time. Most Forex robots are put together in around 6 months to one year max so I’d really like to hear what took them so long.
The Manhattan FX software is built to trade the EURUSD and GBPUSD pairs. In taking a closer look at the my FX book account. We can that they are running a demo using the Tickmill brokerage. They are averaging a gain of 10% per day and are over 2000% positive at the time I’m writing this review. This software is a lot like a system I saw just a couple of months ago. The robot trades extremely fast with most of the trades, lasting for under 10 seconds. While the profit percentage looks very impressive. It’s my belief that this system will only work on specific brokers and may not work on live accounts at all. Considering the different spreads and commissions taken by brokerages, I don’t see how a robot that picks up one PIP on average will be profitable in the short or long-term on the live trading account.
The developers of the Manhattan FX project are hoping that the my FX book account looks so great that you go ahead and purchase it without understanding the differences between demos and live trading. I can’t say 100% that this software will fail but I do not have very much confidence in moving forward with it. If you think I’m wrong or you just want to leave a comment anyways. Please let me know what you think about this system and my review. I hope that this software proves me wrong. But I would have to see a live trading account before I get involved. For this type of software. Thanks for stopping by Forex robot nation and please let me know if you ever need any help by clicking the contact button at the top of the page.