Developed in 2016, the FTC Robot 1.4, or Forex Trend Catcher EA is advertised as a trading system built to win on a consistent basis. The developers currently offer their expert advisor, as well as different account management opportunities. As is generally the case, my main focus will be on the Forex robot, and what type of trading approach this system is taking where the markets are concerned.
It is unknown who the developers of this Forex software are. We are told that they are a team of experts software programmers, the decided to put this trading robot together back in 2016. In doing a little more research, we can see that the website is registered to an unknown person located at Thiruvallam, Trivandrum, Kerala, India. To get in touch with support, traders can email firstname.lastname@example.org.
FTC Robot 1.4 Review
Like many systems in the market, the FTC Robot 1.4 (Forex Trend Catcher) is not explained in enough detail on the sales page.
We are told that it is a pure trend following strategy, that includes advanced risk and money management principles. They also promise a 90 to 95% win ratio, on a system that’s built to work with all time frames, but the H1 timeframe is the most recommended. Outside of this information, there is no real detail on the strategy, or trading methodologies of the development team.
It’s quite clear to me that the developers of the system have not spent enough time detailing their trading approach.
Developers like these need to do a much better job at explaining how the software works, and what we can expect from it. I don’t understand why developer would put together a trading system, and then fail to marketed properly. All we want to know is what type of trading approaches being utilized, and it doesn’t have to be in much detail. Just enough, so we know what we are getting ourselves into. Nobody wants to buy a product, going in blind. Yet this is often the case with services I’ve recently reviewed like Forex Profitable EA, and Forex Diamond.
Type: Forex Robot
Strategy: Trend Follower
Pairs: EURUSD, EURJPY, GBPUSD, GBPJPY, USDJPY
Coming in with a high price tag, the FTC Robot 1.4 offers 3 different payment options. Traders can purchase one license for $599, 2 licenses for $999, and 3 licenses for $1499. The developers essentially believe that their software is worth approximately $500 per license. This is definitely on the more expensive scale when it comes to automated trading systems.
The developers claim that the system can work on all time frames, and all currency pairs but they do specifically recommend the H1 timeframe, and the pairs listed above. If you do use this software, I think it would be best if you stick to their recommendations.
Just as the developer is lacking in strategic discussion, they are also lacking in terms of trading results. There is currently only one Myfxbook account, but it’s not specifically for the FTC Robot 1.4 system, as it’s titled “FTC Robot Managed Account.” Based on this, I have to assume that this account isn’t fully automated, and that there is manual intervention, as that is generally how managed accounts work.
This essentially means that there is no real trading results for the robot, which is quite surprising considering they are trying to charge up to $600 for a license.
In looking at the managed account Myfxbook, it’s quite apparent that there are some glaring issues here as well. For one, the account hasn’t traded in nearly a month, which certainly raises questions about the viability of their services. Also worth noting, is the fact that they’ve had a drawdown of over 86%, which for all we know could be opened right now. It’s possible that the developers are waiting for this trade to finish, so that they can resume taking trades again. Yet, with a drawdown this large, the account is very likely to crash.
These trading results do not present this Forex Trend Catcher EA, as a low risk solution.
At this point in time, I don’t see how we can sign up with the FTC Robot 1.4 services. The details about the trading strategy, combined with the extremely high risk trading results make this come across as a very erratic investment opportunity. I think our best course of action, is to sit back and revisit this service in 6-8 months and see if they resolved most of their issues.
If you have anything you would like to add, please leave your comments and questions below the article now.