In this post I will be reviewing the Forex Steroid forex robot. As someone who enjoys going to the gym in my spare time I have to laugh whenever I read the name of this automated trading system as it makes me picture a meat head throwing dumbbells around the gym whilst dribbling protein shakes on his vest! Anyways, back to business – let’s take a look in more detail and see if Forex Steroid is as powerful as the name suggests.
This is a fully automated forex trading system that runs in the popular MetaTrader 4 (MT4) platform which is free to download. It can place and manage trades on behalf of the user. In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Forex Steroid Trading Strategy
Forex Steroid is a 100% fully automated forex trading system that runs on the EURUSD primarily due to its volatility with added bonus that this currency pair usually has some of the lowest spreads and is plenty of liquidity. Forex Steroid has built in money management which you can customise to your needs. It went through years of development and testing before its release and the developers claim that they are constantly keeping it up to date.
Forex Steroid Back Testing
The back tests used tick data and have 99% modelling quality. It is not clear if they used real variable spreads, swaps, slippage and commissions in testing. These factors can have a major impact on results.
Forex Steroid Live Results
Forex Steroid Summary
Overall, this forex robot can analyse currency pairs and place trades for you but it does have some limitations. I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA. It does come with instructions, support and a money back guarantee. It should be noted that there are no guarantees on how any system will perform and historical results are by no means an indication of future performance.