Forex Astrobot Review

Jun 15, 2021 12:30 PM ET
Forex Astrobot Review

Forex Astrobot is a fully automated trading system that claims to generate $16,000 in monthly returns. According to the vendor, this robot is equipped with state-of-the-art trading technology that allows it to accurately analyze the market and find the best trading opportunities. 

Forex Astrobot presentation

The vendor makes a brief presentation on the official website, providing us with a short introduction to the EA. We have a list of all the main features, followed by several screenshots of customer testimonials that look dubious at best. We can see that certain vital information is missing and that the trading results are shared in tabular format, which is not ideal.

Forex Astrobot

Type

Fully-automated EA

Price

$99

Strategy

N/A

Compatible Platforms

MT4

Currency Pairs

All

Timeframe

M15, M30

Recommended Min. Deposit

$200

Recommended Deposit

$200

Leverage

N/A

Trading Strategy Explanation

This Forex EA takes little time to set up and soon after you complete the installation process, it gets ready to trade. It uses a trailing stop feature that supposedly shields you against risks. According to the vendor, this allows you to make the most use of positive trades and generate profits. 

The money management feature on this EA allows for automatic adjustment of the lot size based on market conditions. Customer support is provided by the vendor on a 24/7 basis, and you can get in touch with them via email to know about the installation process. 

Although the robot is fully automatic, the vendor recommends checking the performance regularly and monitoring the results. This will help you make adjustments to the system based on your trading style. It is further recommended that you don’t use this EA during major news announcements and when no trend exists in the market. Forex Astrobot also has a slippage feature that stops the system from entering a trade with improper parameters in case the price has shifted dramatically.

On the official website, the vendor has not provided any explanation for the trading strategy. We don’t have anything to go on when it comes to the strategy, because not even the indicators used by the robot have been mentioned. To seasoned traders, this might be a major red flag.

Backtest Data Analysis

Backtesting data is considered vital by most traders because it reveals important details about a robot's profitability. While it is true that historical performance may not be reflected in real-time performance, backtests reveal the robustness of a system, to a large extent. 

Since it is conducted over a period of several years, we get to know how efficiently the robot can deal with difficult market conditions. Thus, it is disappointing that the vendor has not shared the backtesting data for Forex Astrobot. 

Live Trading Data Analysis

Forex Astrobot trading results

Forex Astrobot trading results

On the official webpage of Forex Astrobot, we have several screenshots showing successful trades performed. The vendor has also presented the trades in a tabular format, displaying the stop loss, take profit, and gain for each trade. Now, before investing in an automated system, you should look for trading results that are verified by third-party websites like Myfxbook, FXBlue, and FXStat. Since these results are not verified, we cannot consider them authentic. The vendor could have manipulated the results or cherry-picked some decent trades to project the EA as a profitable one. 

Vendor Transparency

This EA has been developed by Rita Lasker of the Green Forex Group. Rita has been in the industry for quite some time and is known for building EAs like Forex Daily Robot, Forex Anti Robot, Forex Daily Scalper, etc. However, we don’t know anything about this person’s work history and credentials, and there are several traders who claim that she is running a scam.

Customer Reviews

Forex Astrobot Customer Reviews

On the official website, we have several positive customer reviews praising the system for its profitability and ease of usage. However, these cannot be considered authentic since they are not posted on a third-party website. It is highly likely that the vendor has manufactured these reviews. Thus, we can say with confidence that Forex Astrobot does not have much of a reputation in the market.

Review Summary

Pros

  • 30-day money-back guarantee

  • Affordable pricing

Cons

  • No verified trading results

  • Lack of strategy insight

  • No backtesting results

Conclusion

In the end, we would like to say that investing in Forex Astrobot is not a good trading solution. There are no verified live trading statistics for this robot, so we have no idea what kind of performance it would deliver in the live market. Moreover, we don’t know what trading strategy it follows, so there is a big question mark over this EA’s profitability. 

Rating: 3.4/10


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