Pro Forex Robot is a fully automated Forex Expert Advisor for MetaTrader 4 platform that works with all major brokers.
The EA is built to trade four currency pairs – EURUSD, GBPUSD, USDCHF and USDJPY on a default time frame of 1 hour. The system is equipped with risk and money management, high spread protection, and as most EAs for MetaTrader 4, it’s easy to install and use.
A lot of attention the authors give to money management, however it is also a weakness of this system, in my opinion. It’s using the Martingale strategy which basically means increasing risk as you lose (in hopes to recoup the losses with the next trade). The comparison with gambling is also unsettling, even though they insist that it’s used metaphorically – why use it anyway if the strategy is good? My point is that it’s a very flawed money management that will wipe out your account sooner than later. Fortunatelly, there’s an option to turn it off.
The up side of this EA is a good risk to award ratio. The backtests show a consistent use of a 1:1 stop loss and take profit, which is a sign of good trading strategy.
Some more details:
- Cost: $97
- Currency pairs supported: EURUSD, GBPUSD, USDCHF and USDJPY
- Updates: Free updates for 20 years to come
- Guarantee: Clickbank’s 60-day 100% Money Back
I loss 250 euro in one day with proforex robot, i think is not reliable for me. thank you best regards
On the bad side—
So far a total loser. I’m running with $10K on a Demo account and it has lost its first 3 trades within a few hours. I would say this is bad luck except for the fact that all three trades were basically negative from the very start…which means very poor entry. Even worse, they were all three separate currency pairs. I could have flipped a coin and done better than that – what a cluster!
Anyway, it has three trades currently open with only one remain positive – barely. Based on the current trends, all three will likley get stopped out. I’m going to apply for my refund if it loses more than 6 in a row.
On the good side —
This bot passed a lot of back-testing with good results. Not great…but good. So I’m actually suprised it is fairing so poorly in live testing.
so far 11 losses and two winners, not sure if this will provide an income as stated my the inventors.
Sorry to those who bough this scam – this webpage will show you Ron’s true face:
https://www.livefaceonweb.com/order.aspx?ms=male&lang=en-male&model_id=120
I’m glad i didn’t fall for this crap !
I loss 380 USD in 3 days with proforex robot, i see this robot work by luck & there is no stop loss !!! for me it was bad one. thank you best regards
Looks like all the people that develop forex programs seem to use fictitious names.
Ron is Stephen as on link from Eric.
5 loss + 2 wins only. Even more on the downside i get lotz of errors saying my receipt number is invalid. countless times I emailed the support grp but still not resolved. Thinking to get a refund in 2 weeks time. But on bright side support grp very responsive.
Pro Forex Robot is TOTALLY SCAM!
Martingle system’s biggest chanllenge is big dropdown. This Pro Forext Robot fake a good backtest result. It has a database, and will check the big dropdown days to avoid trading at that time. So to make the backtest looks so perfect! But in the real trading, it just easily blow your account…..
lolz my name is fictitious too Phil haha. Hmmm if he was really a floor trader, maybe for privacy to protect his identity, he may have used a fictitious name & hired an actor. Nothing wrong with that. But agree with the rest, the EA doesn’t satisfy me.
I’m back…
1. This bot has tanked my $10K demo account down 3Gs as of now. He uses flawed entry criteria with EUR/USD and GBP/USD pairs. As of last Sunday, hes lost 10/12 trades…including a whopping 7/7 ib the EUR/USD. Martingale officially blown-up!
Hey – you jerks who threw this garbage on the market – why don’t you reverse the entry criteria so we can win 10/12 trades? Think about it – if you did reciprocal trades – we’d all be lauding you with praise!!!
2. This bot should not be used for more than two currency pairs at a time. Also, it should only be used with Asian pairs as he’s doing OK with these. If I only traded CHF/USD and USD/JPY pairs – I’d be looking positive right now. But only because of the Martingale loss recovery…not because he’s winning most of these.
3. I’ve submitted numerous help tickets and they have not responded to a single one. In fact, they have deleted them so I can’t even check the status.
4. I am now using my spare time to blast every review board like this one to embarrass the heck out of Pro Forex until they fix it.
Please join me in my truth-campaign
Final Update:
I asked for and received a quick refund – so I give give them great credit for honoring their refund policy.
I did get a message that they’re seeing better results using the same settings. I suppose this is possible depending on when/where they entered live trading.
However, the plain fact for me is the bot closed out at 13 losses and 5 wins. Though an improvement from the beginning, it’s still loses too often for my taste. Also, at the loss rate, it would take months for it to recover and return to a profit state.
I have had much better results with other EAs. In fact, the creators of this EA have another excellent bot that I’m up quite a bit on.
I’m trialling this bot and so far…I am deeply unimpressed. Loses most of the time, and loses big. Will give it a couple more weeks, if it keeps up this very poor performance, I will bin it.
Ditto my friends! This is another worthless EA!
Signed up for this bot less than two weeks ago. Got it installed and running a $10K demo account about a week ago. So far so good. Imagine my surprise when by the end of the first day it was positive $105. Its now a week later and is negative $103. Have read that letting a robot run unattended is a sure fire was to lose. It was recommended not to use anything that didn’t come with hands on guidance and recommendations. To the good side this was promised. They even post a schedule of when the various services would go on line but to date they have missed the June 2 bulletin board launch and the June 5 user support hotline launch. I send in tickets and get very prompt and polite (automated) replies to the effect that a customer service person will be on it shortly. I’m still waiting.
To ERic:
So what is the other EA by the same people you claim works better?
Cleaned me out what more can I say, biggest load of xxxxx
too much hype and more hype and even more hype! and don’t forget the family angle. yuck.
It picks the exact wrong side of the trade 95% of the time. Strategy testing it back from 5/1/2010 thru 6/14/2010 shows a $1100 loss. So much for their claim that they have never had a losing month. Ditto their claim about customer service. I’ll update this if I ever get my money back. So far no reply to a request for a refund.
Absolute garbage!
DO NOT BUY THIS.
I ran it on demo since day of release until last week (6 weeks). Had 2 small wins and about 11 major losses. That was on conservative settings. Over 10% of account gone!
If it performs this badly on demo, Lord forbid the wipeout on a live account. Refund claimed!
These con-artists should br red-listed out of the market.
YES, do not buy this!
I have tried it myself and it continuous reduce my account. Demo fortunately. Yes it bring in profits but the losses predominate and so the money flows away.
Hey guys,
Thanks for the feedback on this Bot. I was going to give it a go knowing full well I could get the refund from Clickbank if it was crap. Your comments have saved me some time as it appears this EA is a dog. Cheers
Surprised by the comments I’ve read. I’m up 26% in 6 weeks of running Forex Pro on a Demo. Another few weeks and I’ll be going live with it. I can’t be the only one in the world using this bot that is making a profit. Running two others on Demo accounts, and Forex Pro beats them all so far.
I am totally shocked at these comments. I have been using PFR since the day it came out and I have nearly doubled my live account that I started with 5k.
I have 3 demo accounts running doing other test and all 3 are positive over 1,000.00
If you have not let PFR run more than a month can you really comment on whether it works or not. 1 month is the true test for any money making venture.
Let PFR run on conservative for 1 month and I will bet you will have to eat your prior comments.
I run all 4 pairs at the same time and I have never lost more than 5 times in a row. The one time that happened I lost $1350 real money and the robot recovered $1240 back on one trade.
Last week I only won at 39% and still made $350.00 what other bot can do that!
I’m talking real account no demo! I have 40 real videos on youtube showing proof this bot works. Look up jevonfx2010 on Youtube and see for yourself!
Jevon H.
Hi Jevon & Richard
I to am making profit using the EA. and am shocked by the bad reviews.. all these people cant be wrong.
I ran it in demo for a month and made over 10%
and am now live for 3 weeks and about 4% up.
How are yous getting on now as you have been running the EA longer than me.
thanks
Hey Lee
I have been making around 30% per month. I just passed 9k and I began with 5k. I should hit 10k by the end of the month so when that happens. PFR would have doubled my money in 3 months! It works don’t listen to these reviews. I use Interbank FX as my broker. That could be the difference!
Hey wheres all the cds on the picture, payed lods of money and only got two files, that sucks… thought i was getting all the cds, so maybe ill return it.
hmm… think i also will watch my account closer when pfr runs, also a little sceptic since the guy on the picture seems to be a model and not the real guy, so whats so secret ?
used it for some days now, even after i turned all the deals off, i was shocked to find out that it missed a couple of hundreds of dollars so there had been some deals after i closed the windows and deals, can i remember so worng, i will test it for over a month and see how it works…
Hi everyone! proforex is great bot. but on my life account I use eur/usd and usd/jpy pair only – as the best performers. the other 2 is crap. with in 3 month it made me 2600 usd,on top of the initial 5000. do not use money managment- crap system and it reduces gains a lot. trade with the fixed lot. 6am – 7.50 pm GMT no friday for eur/usd – as this is the most volitile time for the pair, and 24 hours No fryday for usd/Jpy – and you’ll be amazed seeing your account going up. cheers
I see some people aren’t having success with Pro Forex. So far I been having pretty good success with it! Remember, some of you probably got a TERRIBLE broker!!!!!! This has SO MUCH to do with your success with this robot….change your broker and run it on a demo account longer than a week….up to a month is good and you’ll see the results! You can’t blame the robot for your lack of knowledge and understanding!!!!
As i have been reading these coments,it seems clear to me that you need some knowledge of the market to make a bot perform well, so if the bot wrks better with certain brokers, settings and time frames, why doesnt someone educate and stand behind the product if they beleave in it so much? i know this isnt the responsibilty of people to do but the seller of the bot, its a waste of time and money to try to figure out how something wrks , we need a set up guide with certain rules and guidelines for profit, to reduce the risk of loss and take max profits until i see something user frendly with some basic guide lines i can not waste my time with this product.
For those who intend on successfully profiting in today’s foreign exchange market as an Affiliate/BI, you must be aware of the services your broker may give you. I have found the company and advice offered at Affiliateyard.com superb!
How’s things, does anybody have any real reviews of the Forex Megadroid program? Lots of the evaluations online just look to be affiliates.
Cheers