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Maxturbo EA Review: Is this FX Robot a Scam?

Maxturbo EA Review: Is this FX Robot a Scam?

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The Maxturbo expert advisor promises traders that it is the most powerful EA in the market. It is quite obvious that many developers are internet marketers who are always willing to promise too much but deliver nothing close to what they are promising in terms of results. We definitely want to see whether this expert advisor will hold up to its promises since it is a new trading robot and definitely lots of traders have never heard or used it before.

Launched on 2019-08-24, this robot is shrouded in mystery. The vendor provides no information about their location, identity or trading history in the Forex markets. Our additional research shows that the Web server hosting this website, use the same work server hosting the FXMaximal and FXShooter EA’s. So, we can presume that all of these programs are connected, though this does not bring us any closer to the true identity of the development team. Based on the comments in our FXMaximal review, the community is not very happy with their service with multiple clients claiming that the vendor barely provides any support, and avoids all refund requests. This is not a good sign.

In order to get in touch with support, traders can fill out a contact form on the website. This form asks for the client’s name, email and phone address, but does not include anywhere to type a message.

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Maxturbo EA Review

Our first impression of the Maxturbo EA isn’t all that positive. While the website aesthetically looks professional, there are some blatant spelling mistakes that are hard to ignore. In fact, the first word on the website, welcome, is spelled incorrectly which may seem like something small, but every little detail matters when it comes to investment opportunities. The website comes across as a project that is only a quarter finished, but was rushed to market in a very short period of time.

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In order to qualify for best Forex robot status, the vendor is going to have to put a lot more work into the website, in order to improve their worth.

The developer states all the reasons in the world why they should be trusted. We found this statement on their website:

CONSISTENCY IN PROFIT: We strongly believe in performance-based affairs and understand that our very success is tied to the success of our clients. Therefore, we’ve ensured to lace our unique Auto Trading System with all the advanced features that’ll help our clients gain consistent results in the form of higher profit and ROI. Maxturbo ea is a proven strategy that has been used by experienced traders for more than 7 years. This is a system by the legendary Forex Trader and has been fully automated so everyone from any kind of background are able to use it and reap profit by letting this automatic trading program play his role.

Trading Strategy

The main staple of the Maxturbo EA trading approach is to focus on providing consistent profits. Sadly, they provide little to no information about their true methodology. They promise to have the chance to meet your and a “unique Algo Trading System” but fail to provide any detail or proof of the “proven strategy has been used by experienced traders for more than 7 years.”

Another line of the strategy section claims that the system was created by a “legendary Forex trader” but they don’t provide any information about who that trader is.

The entire sales presentation is a bunch of open ended questions without any real answers. If the vendor wants to be taken seriously, they need to provide much more in terms of hard facts. This type of strategy discussion is prevalent in the Forex robot marketplace, as you can see in our recent reviews of Forex Robotron and the Forex Alpha EA. That being said, the vendor needs to do much more in the strategy department, and it’s not an excuse to point and other vendors doing the same thing.

Analysis

  • Type: Forex Robot
  • Price: $299-$450
  • Strategy: Undisclosed
  • Timeframe: M15
  • Pairs: EURGBP

There are two packages available for traders interested in purchasing the Maxturbo EA. The standard package provides one real account, one demo account and lifetime access for $299. The preview account provides 3 real accounts, one demo account and lifetime access for $450. It’s strange that the vendor is only providing a single demo account for both of these packages.

Generally, we prefer vendors who provide unlimited demo accounts so that we can test the robot thoroughly before putting it on our live accounts. It’s possible that this vendor wants traders to immediately of the robot on their live accounts, but this is never the recommended course of action for us here at Forex robot nation.

Trading Results of the MaxTurbo EA

The MaxTurbo EA team provide us with two verified Myfxbook accounts for analysis. The main account, is a real account with the PaxForex brokerage, showing a gain of 41% over the course of around a month and a half. The draw down is 9.22%, the average trade length is just over 5 hours, and the program is winning at a rate of approximately 72.5%. During this time the robot has traded 360 times, with the average win coming in at 7 pips, and the average loss coming in at just over 5 pips.

Our best advice for you

The majority of the MaxTurbo EA presentation is lackluster. They provide almost no transparency when it comes to their trading strategy, their identity and what type of history they have in the Forex marketplace. The website is poorly put together with major spelling mistakes and missing most of the important details. That being said, their trading account is showing some positive results, so we will have to watch it closely. If you have anything else you would like to add, please comment and leave your experiences. And of course don’t forget to check out this page as we have prepared for you some of the best trading tools in the industry.

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