Today I’m reviewing a new EA development platform built to help traders create profitable robots without the knowledge of any coding, Forex Robot Academy, or now known as Forex Robot Factory. I’m unsure as to why the developers decided to change the name of their service, but the website domain remains the same, while all the marketing on the website has changed.
The developers of the software don’t provide us with much information about who they are, or where they are located but they are associated with a more well-known Forex developer Rimantus Petrauskas. In a forum thread, the lead developer of the software goes by the name Popov, who lives in Bulgaria, so we can assume that the development team head offices are located in Bulgaria as well. In order to get in touch with support, traders are required to fill out a contact form located on the official website.
Forex Robot Academy / Factory Review
The name change certainly makes writing a review for the Forex Robot Academy, or Forex Robot Factory a little more complicated than I would’ve liked it. Despite putting in hours of research, I haven’t been able to come up with any evidence as to why the developers decided to make this change. Usually, product developers will change their name when they have lots of bad publicity, but that doesn’t seem to be the case with this example.
The purpose of this platform is to give traders “a new and easy way to automate the workflow of trading strategy programming, backtesting, optimizing, and stress testing.” According to the sales page, this development service has over 2000 students, hundred and 60 video lessons and members in over 100 countries.
My original impression is somewhat skeptical, as I’ve been involved in many expert advisor development teams and projects over the years. I know firsthand that it is very difficult to develop a Forex trading strategy without substantial knowledge. This platform helps traders who don’t have coding knowledge developed trading systems, but as far as I’m concerned that’s not even the hardest part. The hardest part of developing a Forex robot is imagining a strategy, testing that strategy and proving that it is viable.
What generally happens in Forex program development, is a lot of trial and error. It is common for developers to give up on hundreds of strategies before they find a winner. So, don’t jump into anything thinking that it’s going to be a simple and easy process to winning trades.
- Type: Forex Robot Development
- Price: €990 – €3000
- License: 1 year – lifetime
- Bonuses: Robots, Members Access, One Hour Consultation
The Forex Robot Academy, or Forex Robot Factory is certainly not a cheap proposition in any way. Signing up with the service like this will cost you both your time, and up to €3000, depending on what license you purchase. You can access the application for a single year at €990, get a full membership for one year at €1497, or get lifetime access to the entire platform for €3000. Signing up for the lifetime membership comes with the Forex strategy builder Pro, the online video course, and a handful of bonuses.
This is clearly a very expensive program, so make sure that you fully utilize the 15 day free trial before you make any hasty decisions.
According to the sales page, the Forex Robot Factory program utilizes a simple 4 step process.
- Create & Backtest Strategies
- Optimize For The Best Paramaters
- Stress Test For Robustness
- Incubate Trading Strategies
While the developers of the Forex Robot Academy service do their best to make the software come across as simple and easy to use, I still have my reservations. I just want to reiterate here, that if you don’t have any Forex strategy development experience, that you will likely find the development of your own expert advisor a very difficult process. It’s very unlikely that you will be able to create a strategy with little to no experience.
On the main sales page, the Forex Robot Academy, or Forex Robot Factory team claim that their platform works as it’s been “proven by students over and over again.” Under this headline, are for screenshots of Myfxbook trading accounts of students after implementing their formula.
Yet, these results are quite lackluster in a multitude of ways. While they are impressive at first glance, further analysis shows that all of these accounts stop trading over 10 months ago. Not only that, but the developers don’t provide us with real access to any of these accounts to even verify if they are real or not. The vendor is providing us with screenshots, which means they could essentially be taking images of anybody’s trading account, and passing it off as trading accounts of their clients. We really have no way of knowing if this service is truly viable or not.
A big part of me is very impressed by the platform, and the professionalism of the Forex Robot Academy, or Forex Robot Factory project. The software itself is extremely advanced, and does exactly what it’s supposed to do. It provides traders with the ability to cope their own trading systems, without coding experience. My only concern about the system, is how difficult it would be for traders that have little to no experience, and the fact that they are unable or unwilling to provide us with updated trading results. With over 2000 clients, I’m expecting to see hundreds of trading accounts with winning records before I consider spending €3000.
Thank you for reading this review, and please feel free to comment with your experiences using this service.
Forex Robot Academy €990 - €3000
Forex Robot Academy is a platform that helps normal traders create automated trading robots.
160+ video lessons