Today I’m reviewing the most popular robot sold by the developers at ForexRobotTrader.com, Vader Forex Robot. This software is promoted as “a professional expert advisor with incredible new features.” According to the sales page, the software has earned over $924,881 this year and over $148,054 in just the last month. I’ll be providing a close analysis of these results and giving you my full take on this system, and the developer.
The original location of ForexRobotTrader.com is Las Vegas, but since the passing of Don Steinitz, it is unknown who is now in control of this web property. The about us page is still about Don’s Forex journey, and does not mention his passing. Traders can access support by creating a ticket at forexrobottrader.kayako.com.
Vader Forex Robot Review
This EA promises traders an intelligent trading strategy that utilizes “daily Fibonacci levels to find predictable Forex trades automatically.” The Vader Forex Robot method revolves around support and resistance. The goal is to trade large movements and retracements by combining trends shifts and Fibonacci thresholds. The explanation of the trade logic isn’t complete, and doesn’t give me the information I need, but it’s better than nothing.
The developers promise simplicity, and this is a frequent theme on the sharply designed FRT website. They really do an effective job at projecting professionalism and ease of use, but that doesn’t necessarily mean the product is a winner. It means that whoever has taken over ForexRobotTrader.com, is a good marketer.
- Type: Forex Robot
- Price: $149
- Strategy: Fibonacci
- Timeframe: Undisclosed
- Pairs: EURUSD, GBPUSD, USDJPY, EURGBP, CHFJPY, EURCHF, GBPCHF, USDCAD, NZDUSD, NZDJPY, AUDJPY, CADJPY, EURAUD
The EA is built to run on 20 pairs, but it is not clear what timeframe the system trades. The robot comes with optimized settings that require no client adjustments.
You cannot truly understand the Vader Forex Robot if you do not take a close look at the creators. At this point in time, I have quite a few questions about this robot developer. As I mentioned above, the creator Don Steinitz passed away, and he was the lead dog for the entire operation. It is unknown who has taken over in his stead, as they still use his story as the only available information on the about us page.
My assumption is that the web-site was flipped and is now owned by an internet marketer. This isn’t a terrible thing if the marketer is good at hiring the right people, but for the most part, marketers are only in it for their personal return.
Personally, when I’m dealing with a financial product, I want it to be owned and operated by an actual trader. Which, I don’t believe is the case with ForexRobotTrader.com anymore.
Vader Trading Results & Performance
The trading results on ForexRobotTrader.com are always suspicious to say the least, and this is no different with the Vader Forex Robot. They provide trading statements that show monthly returns of over 16,000 pips. Yet, despite being challenged frequently to put these accounts on Myfxbook or FXStat, they refuse to do so.
This is why I do not trust the trading results that they present.
The customer feedback for FRT and this specific EA isn’t positive. There is a long list of 1 star reviews on FPA as well as other websites.
One of the most recent comments claims that “Vader loses very efficiently,” which is far from an endorsement. The most common complaint is that despite the developers showing incredible results, the community hasn’t been able to reproduce these results on their own accounts.
There haven’t been any real updates for the Vader Forex Robot in quite some time. Despite being marketed heavily still in 2021, there aren’t any change logs, or advances to speak of. The vendor results are HTML based, and not verified by any third party. They are antiquated, and not the type of result I am willing to put my trust in.
I found a live Myfxbook account running the robot, showing a -100% loss, crashing completely in August 2020.
This account showed promise originally, with a respectable equity curve, fueled by a win rate of 88%. The robot held 15 negative trades open for anywhere from 15 to 55 days. During this time, the software piled up small 6.5 pip wins, but eventually the open orders blew the account.
This is a very dangerous approach, as many of the trades either didn’t utilize a stop loss, or failed to close at the -102 pip mark. All of the open trades exceeded the average loss, so there was either some sort of error, or just a very aggressive trading strategy that went wrong.
In situations like this, you will want to monitor your open trades, and ensure that the floating drawdown isn’t too significant. Make sure to close trades yourself manually, or find a way to ensure the robot has a hard stop loss.
At this point in time, I am not impressed with that I’m seeing from ForexRobotTrader.com and the Vader Forex Robot. There are certainly elements of the web-site that I appreciate, but I need answers on who is their lead trader now that Don has passed and when will they start providing verified results. Hopefully soon.
Much more needs to be done if they want to be taken seriously, and answering some of the burning questions about their strategy and trading results would be the best place to start. They have an open invitation to leave a comment here to address our concerns any day of the week.
For a full list of the Best Forex Robots today, go here.
Thanks for stopping by and feel free to comment with anything you have to add.
Vader Forex Robot $149
- Client Feedback
- Customer Support
Vader Forex Robot is an EA developed by the ForexRobotTrader team, utilizing a Fibonacci based trading strategy.
Fibonacci strategy Moderately priced
No verified results Bad client feedback Little strategy insight