EA Review: Forex Android

Today I’m looking at another automated expert advisor from Rita Lasker and the Green Forex Group, Forex Android. Rita believes that she’s put together the safest Forex robot on the market, with brand-new functions and the perfect strategy that will suit every type of trader. I’m not sure what this means, but Rita tells us that she hopes “that it will become your Forex friend for ages.” Certainly, a weird approach in marketing a Forex trading system.

Owned and operated by Rita Lasker, the Green Forex Group is a team of developers that have been selling Forex indicators an expert advisors since 2010. During this period of time, the team has released over 30 products, with new releases coming out every 3 to 6 months. To get in touch with support, you can email support@ritalasker.com directly.

Forex Android EA Review

Built to trade 3 times per day, the Forex Android EA is advertised as a software that doesn’t limit traders profit. In fact, they tell us that “there is no TP inside BUT all the possible control features.” I’m not exactly sure what this means, and it isn’t elaborated on, which is a little concerning. Obviously, we want to know whether or not this EA will close trades on its own, or if we have to modify the settings ourselves in order to enable this.

As I make my way through the website, it’s apparent that instead of take profit, the EA relies solely on trailing stop. Thus, the robot will open trades, and then place a trailing stop position a few pips behind the market price, so that the order can run on in profit for a long period of time before stop loss is utilized. This is a common method in the Forex marketplace, but there are very few EA’s that utilize this technology on its own, without take profit.

The EA also comes with a trend filter, which is a tool that monitors the strength of the market, and tells traders whether it’s a buy, sell, or weak market. I’m not sure exactly how this is utilized, or if it’s just another precautionary measure.

All Rita’s products promise brand new technology, like her most recent releases, Forex SuperVisor, Uni Scalper and Forex MetroBot.

Breakdown

• Type: Forex Robot
• Price: $129
• Strategy: Trailing Stop
• Timeframe: M5-M15
• Pairs: All Majors

Going for $129, the Forex Android robot is priced reasonably for automated trading systems. The developers claim that the product will jump up to $427 after the first 300 copies are sold, but I wouldn’t worry about that at all. Vendors in this marketplace commonly claimed that the price of their system will raise, but it rarely ever does. I’m not even sure if Rita Lasker has the reach to sell over 300 copies at this point.

Trading Results

There is always one major complaint that I have about Rita Lasker products, and it’s the same complaint I’m dealing with today, with Forex Android EA. The green Forex group does an incredibly poor job at providing transparent, verified trading results. Earlier in the review I mentioned that this development team has been selling products in the Forex market for over 8 years. During that 8 years, there have been a lot of advances in the Forex market, especially in terms of statement sharing services like Myfxbook and FX Blue.

It’s now easier than ever, to upload your trading statements, and prove that your trading products are viable over both short and long time periods. Yet, this technology is still not being utilized by Rita Lasker, despite the community consistently asking this group for more transparent trading results.

Instead, we are provided with a trading statement that shows us one month of trading where the software earned over $20,000. Yet, this trading statement could easily be doctored, and thus it can’t be trusted. There is no reason why Rita can’t upload her trading statements to statement sharing services.

Until she does, I will always take issue with this part of her offerings.

Conclusion

As is frequently the case, I won’t be signing up with Forex Android EA until Rita Lasker and the green Forex group provides us with more transparent results. I want to see an actual verified trading account, demo or live, and then I will consider changing my mind. With hundreds of other robot developers providing actual trading results, I don’t see why we have to go back to the dark ages and sign up with a vendor that hasn’t embraced the future.

Thank you for reading my review, and please let me know if you have anything you would like to add.