Today I’m taking a closer look at the FSR 6, Forex Scalping Robot. The developers of this expert advisor claim that it’s the most advanced scalping strategy currently available on the marketplace. They offer a 90 day trial for $27, which is meant to give traders real insight into the mechanics of the software, and prove that the system is viable over a 90 day period.
There is no information about the company that is producing the software. They do not provide us with an address, or introduce us to any of the members of their team so we can’t judge or analyze their trading history or knowledge of the Forex market. In order to get in touch with support, traders can use Skype or fill out a contact form located on the sales page.
Forex Scalping Robot Review
The developers of the Forex Scalping Robot (FSR 6.0) believe that the scalping strategy is the best automated approach, because it’s easier for artificial intelligence to take advantage of small market movements, where humans lack in reaction time. They feel that their scalping approach is more well-rounded than the other scalpers in this market because of their adaptive algorithm changes and self optimizing artificial intelligence. While many developers claim to have a self adaptive system, the FSR6 creators claim that this is a lie, and that they are one of the only expert advisors on the market that are actually using this technology.
Other aspects the developers want the community to know about their EA include that it’s fully automated, comes with a special scalping broker account and that it’s easy to install. They also want traders to know that they don’t use any martingale trading strategies, and that the stoploss used his 2 pips, while there take profit is 25 pips which makes for an outstanding risk reward ratio.
There is no real detail as to how the scalper is approaching the market. Despite the fact that they discuss adaptive technologies and artificial intelligence, there is really no actual insight into their approach. This is rare, as most scalpers actually provide quite a bit of information about their strategy, as you can see in my recent reviews of Forex Fury, Forex Scalper EA and Scalpian V2.
- Type: Forex Robot
- Price: $749
- Strategy: Scalper
- Timeframe: M5
- Pairs: EURUSD, USDJPPY, EURJPY, GBPUSD
Forex Scalping Robot offers a 90 day trial for $27, and once that trial is expired the expert advisor can be purchased for $749. With this package, traders get free support for 90 days, lifetime updates, free remote installation, personal customizations, as well as a custom EA and indicator coding. None of these aspects are elaborated on in any detail, so it’s unknown what type of custom changes, and indicator coding modifications they provide.
Like the majority of the website, the developer fails to provide in-depth detail about the services they are offering to the community.
Considering the overwhelming amount of sales page fluff, and the exorbitant Forex Scalping Robot price tag, you think that the results would be outstanding. As, who would purchase a poorly performing trading software for $749. Yet, if you thought that, you would be wrong.
The results are quite disappointing. The vendor provides us with a single Myfxbook account which shows a gain of 113.57% between August 4, 2016, to January 26, 2017. Thus, the software hasn’t traded in nearly 2 years. Not only hasn’t traded, but when it did trade, the robot racked up a drawdown of 90%, which means that it was extremely close to a margin call, and this is likely the reason the vendor stopped running the account.
The trading results are poor, and have it run in a very long time. The vendor needs to update these results and provide new trading accounts if they want to sell the software to anyone.
At this point in time, there is no reason to sign up with the Forex Scalping Robot. It’s quite clear that the vendor stopped using the expert advisor on their personal accounts nearly 2 years ago, and if they aren’t using it on their trading accounts, then we shouldn’t use it on ours. There may have been a time and a place with this scalping strategy picked up pips and provided profit, but those times of long past.
If you have anything you would like to contribute to this review, please leave a comment below with your experiences now.
Forex Scalping Robot $749
- Price - 10%10%
- Strategy - 40%40%
- Trading Results - 20%20%
- Client Feedback - 20%20%
- Customer Support - 75%75%
90 day trial
No strategy insight
Results stopped in 2017