FRT: Pterodactyl Forex Robot Review

Pterodactyl Forex Robot is another automated system by the Forex Robot Trader team. They claim that it utilizes next level intelligence to monitor the market while finding easy trends to take advantage of using fractals and retracements. Today we will be providing a full review and letting you know if this is the type of automated trading solution that you should be adding to your trading accounts.

As we’ve covered multiple times, we are unsure who the owners of the ForexRobotTrader.com group is at this time. In the past, they were owned by Don Steinitz, a Forex developer and trader, but he has since passed away. So, we are unsure who took over the company, and what type of trading history they have in the Forex marketplace. We are also I’m sure where they are located now, and none of this information seems to be provided on their website. They should certainly provide some of this information and give us some context as the who they are and what exactly happened during the transition.

If you have any questions or concerns, you can open a support ticket in their kayako support platform.

Pterodactyl Forex Robot Review

As is always the case with these FRT systems, the Pterodactyl Forex Robot sales page doesn’t provide a whole lot of information. There are a few screenshots of trades, and a handful of reasons they believe traders should utilize their services. These reasons include the fact that you can trade the software on any pair, use it with any level of trading experience, and take advantage of a powerful fractal trading strategy based on their proprietary Forex indicator.

While the reasons seem impressive, they are mostly vague statements that they make about all of their products. This group is very good at selling systems, but we aren’t so sure they are good at producing or at least updating them to current market conditions. In order to qualify as a best Forex robot, the vendor must present well in all of the categories we rank for.

Strategy

According to the trading logic section of the website, the Pterodactyl Forex Robot “evaluates the strength of a particular trend and calculates the best time to enter the market based on retracements.” Then, when a retracement is observed the software will trade it for you. The software trades frequently, monitoring multiple time frames and uses multiple filters to block any false signals.

They don’t tell us anything else about the strategy, but this description of the trading logic is still better than most robots we review as you can tell in our recent reviews of Jet Trader Pro and Forex Avia Robot.

EA Breakdown

• Type: Forex Robot
• Price: $89
• Strategy: Fractal
• Timeframe: Undisclosed
• Pairs: All Pairs

Currently going for $89, the Pterodactyl Forex Robot is one of the earlier systems developed by Forex Robot Trader team. We aren’t sure if this product is updated to current market conditions, as the vendor tends to promote their other expert advisors like Odin Forex Robot, Vader Forex Robot and Falcor Forex Robot much more. It would certainly be helpful if the vendor provided us with a list of all the updates to monitor their progress over time.

Nobody wants to purchase a system that isn’t active or updated any longer.

Trading Results

The main issue with all of the Forex Robot Trader products is their trading results and that’s no different with the Pterodactyl Forex Robot. This group claims that their robot has made over $531,000 so far this year and show us a small chart illustrating gains of anywhere from 3500 to 5500 pips each month. If you click on any of the months, you will be taken to a trading statement. While we appreciate the fact that they are providing a trading statement, we don’t appreciate the fact that it isn’t verified by any third party.

There are way too many client reviews for the FRT products claiming that they get nowhere near the same results as the vendor. Thus, we believe that the vendor is avoiding using third-party sources like Myfxbook on purpose, as a way to hide their actual trading performance.

It is nearly impossible to compete in this market without providing verified trading results, and the Forex Robot Trader team needs to enter the present.

Conclusion

Without any verified trading results, we can’t recommend the Pterodactyl Forex Robot over the hundreds of other trading systems that provide more transparency. Hopefully, they read our reviews and take our advice, but until then we have very little interest.

If you have anything you like to add, please leave your questions and remarks below the article now.