Today I’m looking at an older Forex robot that’s managed to stay under the radar for one reason or another, Power FX ATM. The developers of the system tell us that their estimated profit numbers are between 100 to 500% a month. With numbers this high, it’s important that I fully analyze this offer to make sure that we aren’t dealing with some sort of a get rich quick scheme.
There is no information on the developer, or the address of the company, but the website is hosted in Malaysia, so it’s very probable that’s where the product is being produced out of. To get in touch with support, traders can email firstname.lastname@example.org or skype powerfxatm.
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Power FX ATM Review
The sales page uses a very aggressive marketing approach that was popular in the early 2015 when the Power FX ATM was first released. The developers are actively telling traders that they don’t need any trading experience and that their robot comes with a 99% winning rate. Again, this is winning rate is extremely aggressive and unlikely so I will investigate this further when I take a closer look at their results section of this review.
The robot is built to take advantage of market psychology, price movement patterns and other secret algorithms that aren’t disclosed.
The system can trade with any Forex broker as long as that brokerage allows automated trading robots.
We are also told that the robot trades certain hours, but we aren’t told what hours those are, and what impact that has on the overall strategy.
Type: Forex Robot
Price: $157/month or $1999/lifetime license
Strategy: Market Psychology
Timeframe: him and, M5, M15
Pairs: EURUSD, EURJPY, USDJPY, USDCAD, USDCHF, AUDUSD, GBPUSD, XAUUSD
The most attention grabbing detail in this breakdown, is the price point. The robot is selling at either $157 a month or a one time fee of $2000. The pricing for this trading software is much higher than I would’ve expected. With a less than professional landing page, and poorly produced videos, I expected the product to be somewhere around $79.
Despite being around for over 2 years, the Power FX ATM service has a very little in terms of customer feedback. My assumption about this, is that there are very few clients. Considering the Forex robot market sees trading systems priced between 100 and $300 on average, I don’t see why anyone would see this poorly put together offer and sign up.
Well, let’s look at the most important part of the review, the trading results. The vendor provides grainy YouTube videos and weird Forex strategy tests on Myfxbook.
I don’t see how anyone would sign up with the service considering the trading results were being shown. The developers provide two separate strategy tests, but they are both of the single day, with a specific time range. So, essentially the creators of the system did back tests in MT4, found a segment of time where the EA won a bunch of trades and are showing that to us as proof.
This is clear cherry picking. The results they are providing us are representative of the Power FX ATM software at all.
I don’t see any good reason to sign up with Power FX ATM. Between the extremely high price point, the 2 days of trading results, and the poorly produced YouTube videos I just don’t see what’s so special about this trading system. Not only that, I don’t see how the developers can believe that their robot is worth nearly $2000 when in the course of 2 years they’ve only been able to show us 2 days of trading results. To top that off, both of those days are within the same week. I wouldn’t be surprised if every other week the software lost, because if it didn’t the developers would show us a much longer sample size of trades.
If you have anything you would like to add to the review, please leave a comment now. I hope that I was too harsh today, but I’m just not liking what I’m seeing from this vendor.