In this post I will be reviewing the FXrobotGO fully automated trading system for the ever popular and free to download MetaTrader 4 (mt4) trading platform that is available from most reputable forex brokers around the globe. I always prefer to use an ECN forex broker for the best possible trading conditions including tight spreads, low commissions, fast execution speeds and excellent customer support.
The FXrobotGO is suitable for all levels of trader due to the fact that it is a complete set and forget trading system that will automatically scan the charts for potential trading opportunities. Once it finds them, the robot will place and manage trades on behalf of the user. All that is required is a quick 5-minute setup using the instruction manual provided and a trading account with an mt4 broker. The real verified Myfxbook account running the FXrobotGO EA is showing a gain of over 200% in around 1 year at the time of me writing this review. It must be said that there are some significant drawdowns on the account that would deter many would be users.
FXrobotGO Trading Strategy
The FXrobotGO forex robot uses up to 10 currency pairs for trading whilst aiming to provide stable results even during periods of low volatility on some of the currency pairs. The EA has a variety of built-in smart filters. E.g. the robot tries to determine if the market is ranging or trending at any moment and choose what settings it should use based on its analysis of the current market conditions. The EA can suspend trading at certain times in an effort to avoid significant drawdowns. The developers have configured the EA individually for each currency pair to take into account the different characteristics of each of the pairs.
The FXrobotGO developer states the following requirements for deposit are as follows although you should only ever trade with what you can afford due to the risky nature of trading:
- Reliable – $ 20,000 for 0.01 lot ($ 200 in case of using a cent account)
- Normal – $ 10,000 for 0.01 lot ($ 100 in case of using a cent account)
- Aggressive – $ 5,000 for 0.01 lot ($ 50 in case of using a cent account)
FXrobotGO Back Testing
Disappointingly, the developer has not shared any back-testing results of the FXrobotGO EA although there is the Myfxbook account that can give us an idea of historical performance.
FXrobotGO Live Results
Overall, there is some potential with the FXrobotGO EA as it is flexible and the settings can be adjusted to suit individual trader requirements. That being said, it does incorporate some strategies that can go through periods of significant drawdown and thus would not be an automated strategy for everyone. It may be a good idea to see how the recent results have held up at the time of you reading this FXrobotGO Review. The software comes with instructions, free updates, full support and a money back guarantee.