Robot Review: TradeRobo EA

Today I’m reviewing a new Forex robot designed specifically for traders looking to achieve slow, consistent, long-term profits, TradeRobo EA. The robot uses a mean reverting affect which is part of their algorithmic trading approach that allows the system to sustain “it’s long-term success thanks to the constantly repeating price movement waves in the Forex market.”

The software is produced by Findilao Ltd, located at Central Point, 6th fl. 54 Osmi Primorski Polk Blvd, Varna 9002, Bulgaria. To get in touch with support, traders can either email office@findilao.com at or call +359-2-4374119. The managing director of the company is Victor Tomov, who tells us that they are a subsidiary of JFD brokers which is a company that believes in a fair and direct way of doing business.

TradeRobo EA Review

While most expert advisors try to beat the markets quickly, the TradeRobo system is developed with the goal of generating an annual yield in the range of 25 to 50%. This is a much slower, and consistent approach that we don’t often see from automated trading systems. Despite being located in Bulgaria, they tell us that their trading system is developed exclusively by German financial engineers that continue to work on the software and upgraded frequently to optimize performance.

The robot utilizes a “grid trading strategy on a diversified portfolio consisting of 24 Forex pairs.” The word grid has a very negative reputation in the automated Forex marketplace, because of its high risk principles and ability to crash accounts quickly. Hopefully that doesn’t come to fruition with this expert advisor.

There are two of risk levels available for clients to choose from, conservative and speculative. According to the vendor, traders should be investing a minimum of €10,000 for the conservative strategy, and a minimum of €5000 in order to use the speculative strategy. These are much higher numbers than we normally see in the Forex market, so it’s important that you understand the fact that this is built for serious investors with deep pockets.

Breakdown

• Type: Forex Robot
• Price: €121/month
• Strategy: Grid
• Timeframe: M5
• Pairs: AUD/CAD, AUD/CHF, AUD/JPY, CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, EUR/CHF, EUR/GBP, EUR/NOK, EUR/NZD, EUR/SGD, GBP/CAD, GBP/CHF, GBP/NZD,
• GBP/USD, NZD/CAD, NZD/CHF, USD/CAD, USD/CHF, USD/DKK, USD/NOK, USD/PLN, USD/SGD

The pricing structure for the TradeRobo is much more aggressive than most expert advisor manufacturers in this market. The developers are charging €121 per month, which is far as I’m concerned is much too high a price point for this market. There are many effective trading systems that will give you access to their software for under $250, with no recurring charges. Whereas, in this situation traders are expected to pay well over €1000 per year.

Trading Results

The vendor provides two verified Myfxbook accounts to show us the performance of the TradeRobo EA. The conservative account is showing a gain of just over 23%, with a drawdown of 7.45%. The speculative account is showing a gain of just over 50%, with a drawdown of 12.98%. Both of these accounts were started at the beginning of December 2016, so they have been running for an extended period of time which allows us to do a deeper analysis than normal.

While the accounts appear to be consistent, it’s quite apparent that both trading strategies performed much better in 2017. In 2018, the gains have been much smaller, with the conservative account showing a measly 1.28% gain for the entire year. Whereas in 2017, the same account showed a yearly gain of 18.82%. The numbers are very similar for the speculative trading strategy as well. This does lead me to believe that the software may have peaked over a year ago.

Another piece of analysis that we have to do, is tied directly to the price of the software. If we look at the conservative strategy Myfxbook account the vendor has earned €4683.29 over the course of 23 months on a deposit of €20000.00. Quick math shows that the software is not coming close to the expected annual yield numbers of 25%, the same goes for the speculative strategy. If we look even further, and do some cost analysis, we can see that the software would cost us -€2783 for a 23 month period, and when you add in the commission of -€529.76 you get -€3312.76. Which means if you deposited €20000, and used TradeRobo for almost 2 years, you’d be showing a profit of just over €1300.

This does not add up.

Conclusion

The TradeRobo EA sales page and presentation is very impressive. They give us insight into their 2 different trading strategies, and present the software to the community in a very professional manner. Yet, there is a major concern with this product, and it’s not necessarily the recent drop often results, but the monthly price of the software. When you add up the costs of running the software, it’s simply not worth owning.

If the software my calculations show that after expenses, a trader with a €20,000 account, will show very little profits in the course of 2 years. If you traded the software over the past 12 months where the robot is only showing a gain of 1.28%, you would actually be losing money in subscription fees. The vendor needs to significantly reduce the price of their software, or it’s just not profitable.

Thank you for reading my review, and please leave any questions or remarks you may have below the article now.