Today I’m taking a closer look at a Forex trading robot that just recently hit the market, FXMower. The developers tell us that the software has excellent live results since 2016, back tests that go back over 5 years and that traders can get started with the software with as little as $250.
We are not introduced to the developers of the software, but it is believed that they are from Germany. There is no email or address available, but traders can get in touch with support via a contact form at the bottom of their sales page. The product is being sold through Avangate and comes with a 30 day moneyback guarantee.
For our full list of trading robot reviews in 2017, please go here.
Unlike most Forex robots, the FXMower sales page uses more of a minimalist approach. There is less than 400 words of content on the entire page, so it’s difficult to get a true understanding of the strategy in the back story of this trading approach. There is a Why Us section of the sales page where they have 4 points they use to attract new customers.
- The robot is trusted because it is proven to work by the various tests they have completed.
- Traders can modify the drawdown settings to a level they are comfortable with, which makes the software compatible with more traders.
- High quality support.
- FXMower is compatible with all meta-trader 4 brokerages.
- Type: Forex Robot
- Price: $220/license
- Strategy: Undisclosed
- Timeframe: M30
- Pairs: EURUSD
I really prefer trading systems that are more transparent in regards to the trading strategy their utilizing. I’ve found in the past, that developers who frequently hide their strategy are generally using some sort of high risk martingale type system.
The FXMower vendor my FX book account is quite impressive. This account shows a gain of nearly 700% since late July in 2016. It’s really quite surprising that an EA of this magnitude is just starting to make waves almost a year later. The trading account is registered with FXOpen and there have been hundred and 35 trades during this period. If you are looking for an EA the trades frequently, this is not what you are going to get today. This robot will generally take anywhere between 2 to 4 trades per week.
As for the trades, they are quite odd. Pips seem to be able to range anywhere from 0.4 to over 60, and the trade lengths, are very similar. There are trades that last a few minutes but most trades last around 1 to 2 days.
Due to these large gaps in trade times and pips, I really wish the developers provided much more of a detailed account of their strategy. It’s difficult for me to sign up with a trading system the trades quite a radically, even though the account is very impressive.
At this point in time, I need more from the FXMower team before I can give a full recommendation. There are certainly a lot of positive elements here, including the very impressive my FX book account but that’s just not enough. I can consider recommending the system when I’ve seen some real user accounts and get some sort of understanding about this trading strategy.
Thanks for reading my review and please leave a comment if you have anything you would like to add.