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EA Review: Faret Forex Robot

Today I’ll be providing a review of the new expert advisor the claims to utilize the logic of a supercomputer while still thinking like a human genius, Faret Forex Robot. Yes, that is a bit of a mouthful and I’m not exactly sure what it means at this point, but by the end of this analysis, we will all have a much better understanding.

It is unknown who the developers of the system are, but if you need support he can email them directly at info@faretforexrobot.com. Generally, I prefer to deal with traders and coders that have some sort of a reputation in the marketplace, but it seems like we’re dealing with newcomers this time around, so lets see what they have to offer.

Faret Forex Robot Review

The first thing the vendor wants us to know, is that their Faret Forex Robot uses a proven strategy with auto money management, the news filter and balance protection. These are normal features of most expert advisors, but it’s good to see that there is a foundation for this trading product. There doesn’t seem to be much of an emphasis in terms of explaining the strategy, as all we are told is that the system “automatically spots profitable trends and takes advantage of them.” We are not sure why the EA works the way that it does, but it’s also possible that the vendor has a difficult time explaining these aspects in English, as it’s quite apparent that this website was put together by a non-English speaker. This may make it difficult for you when you are dealing with the instruction manuals, so keep that in mind.

We are made aware that the software uses take profit, stoploss and a few other advanced filters in an attempt to keep your account safe. The system is built to work in every market condition, and we are told that the results are always the same on both demo and live accounts.

Breakdown

  • Type: Forex Robot
  • Price: $149/license
  • Strategy: Trend Based
  • Timeframe: Any
  • Pairs: EURUSD, GBPUSD, USDCAD, AUDUSD, USDJPY, USDCHF

With the $149 package, traders get access to the Faret Forex Robot, with one real account license and one demo account license. Additionally, traders can purchase the 2 license package which comes with 2 of each for $269. Both of these packages are one time fee, with no additional charges and there is also a 30 day moneyback guarantee.

Robot Results

The vendor provides us with one FX blue account, which is not my favorite statement sharing service. In my history dealing with automated trading systems, I’ve found that the FX blue platform can be gamed, and that there are some very strange accounts uploaded here. With that being said, it does not look like the Faret Forex Robot team are doing anything untoward.

The account is currently showing a weekly return of 13%, a monthly return of nearly 70% over a small sample size of just 37 days. When I’m looking at trading systems, I usually want to see trading accounts that have been active for a minimum of 3 months. I say this, because it’s a very easy for a trading robot to string together 30 days in specific market conditions, but over 3 months there are generally enough market shifts to give us a better breakdown of how a system can perform in different conditions.

We will have to wait a couple more months to see how the software performs over a more respectable sample size.

Conclusion

Usually I add a client feedback section, but the Faret Forex Robot is so new, that there is no client feedback available yet. Hopefully, this review will act as a hub for traders that want to share their experiences about this trading robot. As of right now, I believe our best course of action is to sit back and wait for the results to come in. Hopefully a couple of months we can revisit this system and see that it has been you to perform up to expectations.

Thank you for visiting the review, and please leave your comments and questions now.

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

2 comments

  1. Using it since last 15 days and i am already seeing good and stable profit with minimal DD. Going to need additional license to grow business. let see…

  2. SCAM!!!!!

    Bought it, no support at all, nobody on the other side.

    Every backtest result with default settings ends with major loss.

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