Today I’m reviewing a new expert advisor built for any level of trader that’s looking to increase their trading account balance without losses, Eklatant Forex Robot. The developers claim that it’s as simple as turning your computer on, and running the software, in order for clients to generate stable profits on a monthly basis. They believe that greed too frequently plays a large role in the Forex marketplace, and they have a clear, automated solution.
It’s unclear who the developers of this software are, what type of trading experience they have, and where their head offices are located. All we know, is that the website was registered 173 days ago, and their support team can be contacted via email@example.com. Hopefully, at some point in time, they provide more information specific to these elements.
Eklatant Forex Robot Review
The developers of the Eklatant Forex Robot believe that they are providing the market with a “shocking underground technology and profit sucking software that’s been hidden from the general public for several years.” My concern with this claim is that the developers trading account is only showing a history of 93 days, which directly contradicts with their statement that the product has been performing for them for several years. I’m going to chalk this up as marketing, and hope that the developers aren’t deceptive and any other aspects of this robot.
As for the strategy, the developers tell us that their low risk approach takes advantage of powerful Fibonacci levels, and other various well-known indicators like “moving average,CCI,RSI and Stoch.” They believe that this combination of indicators is perfect for picking out the trend and staying ahead of the markets.
Outside of these few sentences, there is no real in-depth analysis of the methodology, and the type of information they are providing is quite vague. This isn’t uncommon in the Forex marketplace, as you can see in my most recent reviews of the Wolfgrid EA and Signal2Forex.
- Type: Forex Robot
- Price: $179-$499
- Strategy: Fibonacci Levels
- Timeframe: M5
- Pairs: EURUSD, GBPUSD, EURGBP, USDJPY
There are currently 3 options available for traders looking to purchase the Eklatant Forex Robot. All of the packages come with lifetime access, 24/7 support, free updates and access to an instant download. The only difference, is the amount of licenses that come with each package. The $179 package comes with one real account, and one demo account. The $249 package comes with 2 real accounts and 2 demo accounts. Finally, the $499 package comes with 4 real accounts and 4 demo accounts.
Generally, I prefer products like Forex Fury that provide unlimited demo accounts so that I can do more complete testing, but maybe this is something they can change in the future.
The developers provide us with one Eklatant Forex Robot trading account hosed on FX Blue. As earlier mentioned, this account has been trading for 93 days, and is showing a weekly return of 10.3%, and an overall return of just over 270%. While this is still a small sample size, the numbers are quite impressive and certainly peak my interest.
The software trades frequently, as there have been over 2000 orders in just over 3 months, which accounts for a total of 39.3 trades per day. The win ratio is also good, with all 4 pairs showing a winning percentage between 75-77%.
While it is not disclosed by the developer, the EA looks like a scalper, with the average win coming in at around 5 pips, and the average loss coming in around 7 pips. This means that you should make sure you have a low spread brokerage if you’re interested in utilizing the software.
The sample size is still very small, so I don’t think we should rush to judgment when it comes to the Eklatant Forex Robot. Our best piece of advice at this point in time, is to sit back and see how the community reacts to this expert advisor. Hopefully, we can get some user feedback here at Forex Robot Nation, and see some client accounts, to ensure that the software performs for the general public before we get involved.
If you have anything you would like to add to the review, please leave your comments and experiences below the article now.
Eklatant web site gone
Thanks for letting us know Josh.
I have used Eklatant for almost 2 months and never had a losing day. I wanted to have at least 2 months of info before I posted here. Future not guaranteed, but 2 months of never a losing day has got my attention. Someone mentioned Martingale and it is not a full Martingale but what I called a modified Martingale. By modified I mean it does not double up on the next trade but uses a 1.5 multiplier. Eklatant recommends $3500 minimum to run but I would not feel comfortable with less than $10,000. I have had DD right at $1500. Looking at other robots I have not seen one that is profitable every day using .01 lot size to start the trades. I agree with others, their customer service is the worst in the industry. And that is not just in this forum but others also. Sure they have lost sales because of their negative CS history. Bottom line, good EA with lousy CS. I don’t know you will need much CS however.
Can you show us these results in Myfxbook Robert?
This is Robert A again. Today (11/6/18) Eklatant disabled my EA! I have sent 2 emails about this to them but after 12 hours no response. I would like to be optimistic and think maybe it’s a glitch in their system but I was not the only one disabled. I knew they had the capability but if this is not corrected, this bot is useless unless they activate it. Here is a demo with the bot using FXBLue. https://www.fxblue.com/users/6001913
Good day! Tell me. What parameters did you use to trade the robot on this account? I will be glad to cooperate! The robot is great!
After weeks of trying to get Eklatant to reactivate the EA, they have said no they will not. I presented proof of purchase, still they will not activate. It was activated at first, but a Paypal dispute caused them to deactivate the software. This dispute was resolved and I have email stating they would reactivate. So I have given up on trying to get them to reactivate. Eklatant has a build in .dll file to “call home” to see if your copy of the EA is valid. They can disable the EA at will. Found on Ebay a provider selling Eklatant without the call home feature and it can be used on multiple accounts, no restrictions. Cost is half of what Eklatant is asking at $90. I like the EA, just not the customer service. Which by the way was terrible even when I had the software activated. Initially I had planned to purchase 2 more licenses, but that has now been replaced with my new Eklatant software. I paid for the software ($179) but only got to use it about 2 weeks. Not my choice to go with an Ebay offer, but Eklatant left me no choice.
Hi James, I never recommend purchasing an EA off Ebay. You never get the real EA, just fakes.
Imagine a world where a company sells a product, they give you a guarantee and the product does more or less what is supposed to do and every time you have a question you get an fast and useful answer.
That company would be a a multi million dollar company, why? because they take care of their customers.
Well this is not going to happen here, we are left to our own fate thinking we are going to make money.
yes, its a prity that you do not receive an answer.
I Send about 6 times this week questions to the support off the Eklatant Forex Robot l via e-mail as wel via there website. They did not respond once. What garanty do we have when i buy the EA and wait for the activation off the EA?
I had a stupid idee. Lets give it a try. Buy the EA. They promised instand download. After paying there was no download at all. after that i mail the shop and vendor. No responds. Oeps i am scamed!
Today i did get the EA and the EA is also activated! So i am not scamed! Herewith I take my words back. I hope that questions wil be answerd in the future. I will post my finding from this EA later.
You will be pleased with the EA as it makes a profit everyday. Eklatant says $3500 minimum, but I would feel more comfortable with $5000 minimum. Forget support as it non existent. Don’t know why, just once they receive your payment you are on your own. I have not needed support as it is quite simple to setup.
The EA. Works fine. But the website is gone.
I recommended Eklatant to a fellow trader before I had all my problems. He ordered 3 days ago and has yet to receive the EA. What is wrong with the Eklatant people. He paid with Paypal and I told him if he did not hear from them by end of Wednesday (2 more days) he should also file a Paypal dispute. I had my issues and still do as they have not contacted me in over a week and I have sent numerous emails trying to get them to either activate the EA or a refund. I’m convinced they will never give a refund so Paypal dispute it only way to go. Also one of the dependencies in the EA is one in which they can remotely deactivate the EA at will.
it is a martingal robot,dont forget
ive asked the vendor several times to update my account number as my broker closed the demo server. so far NO response.. bot itself run nice on demo account until broker shut demo down.
Thanks for the update Alexander.
I know you said your broker shut down the demo, but don’t forget Eklatant can also disable your EA remotely. There is what looks like a .dll file that checks with Eklatant to make sure you are authorized. If you are not, they will shut it down. So don’t make them mad as they will shut the EA off.
I just bought the EA started trading yesterday. I am testing it in a demo account and a very small live acc.
I noticed the robot opens 3 trades per pair and you are supposed to run the 4 recommended pairs.
It was working well, till sometime during the London open (high volatility), I connected to the VPS, and found an error message in both platforms demo and live telling me that I should be using demo robot only for demo. Which I was.
But most of trades where in a 40 pips DD, normally trades are closed within 20 pips loss. I can only guess that the VPS disconnected at some stage or the robot failed and stopped monitoring trades at some stage.
I had to close most of the losing trades as the market was way past those points causing a loss to 40% of my live account.
I sent emails to the support but no responses. Another thing the robot opens trades without stop losses which is very dangerous , and it closes them when they reach whatever settings it has in the code.
It it had good support it could be a good EA. At the moment i am trying to contact support but no response.
Sorry to hear that Ed.
not true normally trades are closed within 20 pips loss,look at trade history
I have not seen SL in the Eklatant account. Did see it with a trailing stop but normally I see no SL.
I have been using Eklatant for one month and am impressed with the results. I am trading it in a $5000 account and once had DD close to $800. It did come back down and I was not near margin call, but still somewhat out of my comfort zone to see $800 DD. On caution of utmost importance however. My VPS provider did maintenance over the weekend and upon opening VPS all accounts were closed. I opened them back up and thought no problem (it was hours before trading was to begin). I was away and when I got home , about 1 hour after market opened, I had some huge losses. I sent them to Eklatant but never got a reply. I had the demo, so I shut it down and restarted and that will cause the EA to start as if it was just starting. It opened up many new trades instantly and set SL for many trades. I had never seen it set a SL except a trailing SL at times. So, yes, it is a very good EA, but if the MT4 gets shut down for any reason be sure to watch it when it is rebooted. I likely could have removed the SL had I seen this when it happened. Their FXBlue account is trading .03 lot sizes and I am trading .01. So I am not making the profits their FXBlue does, but I am OK with that. Thinking of going to .02 very soon however.
Thanks for the feedback.
I filed a PPal dispute as I had losses for a 30 day period (Due to the robots setting multiple SL upon reboot). They did not respond by email. However they have shut down the EA. I emailed them about what was going on and their reply was ” you filed a dispute on PP. Remove dispute and we will activate
EA again” Since I knew what had caused the loss and how to prevent it in the future, I removed the PP
dispute. That was Monday, Aug 6 and as of today Aug 10 I have yet to have the EA reactivated. It is still early morning here on Friday, but if they do not activate by end of trading day, I am going to file another dispute with PP and this one will be for fraud. You cannot sell a product and take it back 3 weeks later
because you got your feelings hurt with a PP dispute. PP disputes can take almost 2 weeks but will update her when I know more.