Today I’m looking at a new Forex robot that promises to have the most advanced IT technology in the market, MT5 FX Robot (MT5 FX EA). We are told by the development team that this “robot knows the future,” which means there is no guessing involved. This scalper requires that you have an extremely fast Internet connection and a brokerage with a very low spread as trades are executed and finished within 60 seconds.
The developer is Mark Hamilton, I do not know who he is, and I’m pretty confident that the image they are showing us is a stock image purchased online. There is no information on the location of the company, but you can contact support via email firstname.lastname@example.org.
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MT5 FX Robot Review
According to the sales page, the MT5 FX Robot has an 85 to 95% accuracy rate which is far as they are concerned makes it “almost a Holy Grail.” Hamilton tells us that his EA is different from others in the market because it “compares prices in real time and knows the price movements within the next few seconds.” It’s supposed to know the price before it opens the trade. I don’t see how this is possible, unless the EA has some sort of a crystal ball. Mark can certainly tell us that his EA can see into the future, but I see no proof of this.
- Type: Forex Robot
- Price: $2000
- Strategy: Scalper
- Timeframe: M1
- Pairs: EURUSD, GBPUSD
The price point at $2000 is much higher than I am ever willing to spend for an automated Forex robot. I would only consider this system if it came down around $1900 in price.
The MT5 FX Robot website has quite a few screenshots of trading results with my FX book and also lets us connected their trading account manually to see their trading results. I don’t see why connecting manually is necessary if they have my FX book accounts. Yet, for some odd reason none of their my FX book accounts are available. They show many different screenshots, but none of them are accessible. If you click on any of these images, you will not be taken to the my FX book website and thus we cannot trust these screenshots.
I have even searched for both of the accounts manually on my FX book, but neither of them exist. The only way to see their results would be manually, and I wouldn’t be surprised if they have some sort of trick up their sleeve and how they are showing those results.
They should really consider uploading an account to my FX book so that we can see how the software is performing in 2017.
The response we are seeing from MT5 FX Robot clients is overwhelmingly negative at this point in time. There are about 6 reviews from real clients, and all of them are claiming that this service is a total scam.
After showing negative results, one of the clients asked for help and the developers had the nerve to tell him that they would connect to his computer the team viewer if he paid an additional $500. Upon asking for a refund, they stopped responding to all of his emails.
It’s quite clear that traders need to stay away from the MT5 FX Robot. There are many question marks about their results and the community feedback section of this review is quite horrific. I do feel bad for any trader that’s already spent $2000 for something that doesn’t work. Be careful with the systems that you trust and make sure that you ask me or the readers here at Forex Robot Nation before you jump in, and make a quick decision on a Forex product.