Estimated reading time: 6 minutes
MT5 FX Robot. Do you think it’s profitable like the owner claims? Does it deserve all this credit that the landing page is giving it? One may wonder. Thankfully, we have an answer. And in order to do an informative review about the MT5 FX Robot, we will first begin by describing what the developer is saying about this particular robot. Then we will give our views and opinion afterwards.
Well, if you take your time to peruse the homepage, you will see that the developer is claiming that MT5 FX Robot uses the latest, most advanced IT technology that can be found in a modern expert advisor. According to the developer, this robot knows and understands the future very well. There is no guessing about what will happen in the future concerning the Forex market.
One thing to note is that this is a scalper (according to the developer). It’s the reason the developer insists that you must open an account with a low-spread Forex brokerage company. On top of that, they do require a fast internet connections as trades are opened and closed in record 60 seconds. That means you may even need a Forex VPS service, right?
But wait. Are you confident that MT5 FX Robot is a good scalper? Before we go far, check out our list of the top rated and recommended trading systems on the internet right now. Pick one of those products because we are looking forward to your success story. In the meantime, you can keep reading this review.
The developer of this robot claims that their name is Mark Hamilton. To be honest with you, we do not know who they are as we have never seen or heard about them before. Besides, we are pretty sure that the image which they are showing us on the homepage of this site is a stock photo.
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Note: If your language is not English, you should use the language dropdown menu at the top right hand side of their page to select your language.
This developer is simply a mysterious person or company so to speak. The whereabouts of this business is not mentioned either. But customers can still keep in touch with them via an email address which they have provided on their website.
On the website of the MT5 FX Robot, they claim that this robot has an accuracy rate of between 85-95%. But as far as we are concerned, this claim almost makes it look like the ”Holy grail” of trading.
According to Hamilton, this expert advisor is different because it compares prices in real time and even knows when prices are about to head North or South in the next few seconds. MT5 FX Robot knows everything in advance.
In fact, if you follow his statements carefully, you will get the impression that Hamilton is saying that this robot knows the next price even before it can open any trade. But how is this possible? Unless this expert advisor was developed with a mystical formula that acts like a god, we do not see how this can be possible in our wildest dreams.
In as much as Mark is saying that this expert advisor can see into the future, there is no slightest proof to show that indeed it can or has seen into the future. Clearly this sounds like a marketing gimmick.
It’s only fair that we look into the features of this robot in details after the developer makes weird claims that this expert advisor is a crystal ball robot that strikes with up to 95% precision.
First of all, this is a EURUSD/GBPUSD robot. It does not trade any other pair with sharp precision. Secondly, we already know that it’s a scalper. It scalps the 1 minute time frame.
Now, the greatest issue of all has to do with the pricing of this robot. At $2000 per license, we feel that this is the most expensive Forex robot that we have seen in the market. What is the justification for this price tag?
Honestly, it’s quite difficult to believe that traders will be spending this amount of money when there are even more efficient expert advisors in the market. This price point does not make sense. Not only is it an exorbitant price tag, but it also looks like a rip off because no one has ever sold a Forex robot to any retail trader for that price.
Maybe we’d give it a consideration if the price fell below the $1000 mark. As it stands, we can’t even think of recommending or using it ourselves.
At that price point, it is not in our wildest dreams to imagine that this developer will not prove the performance of this software.
Thankfully, we already have a few screenshots and even a link back to my FX Book where their account activities for the MT5 FX Robot are being tracked.
Surprisingly, in as much as the developer of MT5 FX Robot is showing us a couple of screenshots here and there, none of them are actually clickable, so it’s impossible to confirm any results as it currently stands. Now, this is what we call suspicious.
Oh, we did not mention the fact that this developer provides us with a manual way of accessing their trading account.
However, none of the MyFXBook screenshots can be clicked. We even searched for their trading account on myfxbook website. Nothing came up in the database. This means that MT5 FX Robot has never been registered at myfxbook, and thus we cannot trust these screenshots as legitimate.
And now that we can gain access to their trading account manually, we wouldn’t be surprised to find out that this developer is using some weird trick to fool traders who are ready to go this length with their research.
The advice that we are giving them right now is that they should consider signing up to a my fx book account for purposes of proving that MT5 FX Robot can see the future before everyone else. Otherwise, we wouldn’t want to believe that the kind of results we are seeing on the website are true.
For us, it’s a routine to consult with other customers before publishing any review here. So in this case, the standard practice was applied as well.
Customer response has been overwhelmingly negative, given that they spent $2000 and got nothing, only losses.
All customer reviews on Forex Peace Army claim that this developer is a scammer.
One particular client caught our attention. He traded with this software and made one loss after the other. When he requested for help from this rogue developer, he was told that they would connect to his PC via Team Viewer software for an additional cost of $500. When he asked for a refund, the developer suddenly went quiet on him.
The use of stock images in conjunction with the inability to prove results on my FX Book is a healthy ingredient that points to the fact that MT5 FX Robot is a scam expert advisor. Client feedback is quite horrific. Someone just took their $2000 and cheated them out in the name of selling them a Forex robot that knows the future. That’s certainly unacceptable. Be careful with this EA.
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