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Algominr Review: A Forex Robot Development Platform

Algominr Review: A Forex Robot Development Platform

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Expert Advisor building software is the basis of our analysis today. Algominr (Algominr.com) review is out after a developer asked us to take a look. The platform puts strategy creation in the hands of traders, which is an impressive program. For you to enjoy this service, you have to put in a lot of time and effort. And this is where most people go wrong as they think robot development is east. It’s best left to experts and those who have a passion for it.

Algominr Review

About Algominr

According to their homepage, one can use AI technology to train your strategies. That being said, there is a lot of information to pass around regarding robot development. One has to be fully aware of what they are doing before making any commitments. Even though the platform insists that no coding is required, a little background will help. The robot developer can help connect with MT4 and MT5 trading platforms, which is a plus. Let’s dive through this robot development for more.

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Algominr is offering users various video tutorials to help with strategy creation. The platform claims to add more strategies each month to help widen the scope. These tutorials will help users learn how to set up basic trading strategies and editing. You also get to learn how to use strategy wizard and Artificial Intelligence in your trading. Again, all this needs a person who is fully committed to the platform. It takes months to understand all the concepts before creating a ready robot fully.

Algominr Strategy

The algominr software allows users to use AI technology on their strategies. One can apply AI to its preferred indicators and trading strategies. For those who are inexperienced, the platform decides for you. It will set all relevant parameters to make your robot come to life. The platform gives users access to AI decision trees, logistic regressions, neural networks, and support vector machines. What the software does is align your strategy to work based on your preferred indicators perfectly. For those with experience, they can use the visual module to customize their strategies further.

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Assets for use with the robot

Once you sign up, you can decide which trading instruments the robot will work on. Some of the listed assets or trading instruments include Crypto, Forex, Futures, and Stocks. The vendor has all assets covered, including all types of Crypto. From what we’ve seen, the robot development team is only able to cover Bitcoin assets. Users are also able to mix their symbols to fit their trading strategies. All this is available thanks to the guidance of the robot development team behind this platform.

Back-testing with the robot development platform

Algominr Trading Platform Compatibility

There’s lightning-fast back-testing that allows you to optimize your strategies. You can also test how your strategies will behave under different conditions. The platform offers a walk-forward analysis to help record your strategy performance over time. One way to get impressive results is by getting more data from brokers. Again, to fully use the robot development’s full potential, you have to pay the ultimate price. And that’s why ready-made robots offer a much better option since they have all the above features.

If your strategy needs fine-tuning, there’s an automatic optimization tool to help with it. The tool will help you adjust the parameters to help your robot get better accuracy. With this robot developer, you are promised to work with any broker. For those that might not get historical data, the vendor has you covered. You can use Oanda V20 to get more historical data. The vendor claims that support for other platforms will be added in the future.

Comments and feedback from users

With the platform being in existence for over four years, it was hard to get any feedback. It seems that most traders go for already-made robots instead of creating their own. And this means that the platform has not been received with open arms by the trading community. Those that want to try it should be aware of the time it takes to come up with a fully-fledged robot. It’s the reason why nearly all traders go for expert-backed and industry-tested robots. Only professionals know how to develop trading robots well.

Domain details of the platform

The website went live on 20th July 2016 and has made just one change on their IP. What this points out is that the developer does not update the website much. With four years in the trading world, one expects the vendor to have at least four updates. It shows the lack of concern from the vendor in terms of security. It could be that the vendor gave up after failing to get any visitors to the page. Thanks to the domain tools checker, we can have reliable data on a site’s background and history.

Note: Even ranking sites don’t have much data on this website.

Features of Algominr

Algominr does everything for the user; they apply AI to your favorite indicators. The robot development team helps set the parameters to train the models. Some of the features of the robot development team include linear and logistic regression. When creating strategies, the features available include basket predictions, indicator crosses, and prediction strategies. Strategy logic is another notable feature worth mentioning. The platform uses an intuitive module system to create any strategy one can imagine.

Is Algominr Safe?

And this question is not as easy to answer as most would think. It’s not a Yes or No answer as there are variables to include. Algominr is not a licensed entity from the forex or trading regulated entity. It means that regulators don’t know it exists or offer any compliance with the forex trading laws. What we have seen from their terms and conditions page is that all liability is on the user. The platform will not be held responsible for any problems while using your robot.

Pros and Cons of Algominr

Available Plan

Algominr Available Plans

Algominr is furnishing users with a single plan that is the Pro subscription. With this plan, users get over 137 indicators, 8 prediction methods, parameter optimization, and updated and tutorials. For lifetime access to this platform, users must pay $87. One may think that this is an affordable price going by what the robot offers. We believe that the vendor is on the right track apart from execution. The vendor should have an already built robot under this software. It would help market the software as a genuine robot development option.

Contact and support

Shockingly, there’s no contact page on their website. One must sign up to the General discussion forum group on their forum’s page. With this chat, you can now be able to ask questions. We believe that the vendor does a poor job of creating a fair user environment. Most of these platforms tend to hide their information for fear of being reprimanded by users. And this is a classic case of why you should get a ready-made robot. There’s no access to support, which means getting help is a tiresome process.

Should you use Algominr?

Expert advisor development platforms are a good way to create your own trading robot. For you to create a trading robot, time and effort must be the price you pay. Patience is another skill that you should have with such platforms. The robot might take weeks to come into play. For those that are willing to pay the price, you can try out Algominr. Kindly let us know your experience with this platform. Make sure to sign up if you are ready to lose the buy-in price.

Final remarks

We ask that you be extra careful with this trading platform. Start by making sure support is available at all times.

There are affordable forex trading robots for those who don’t want to take their much needed time. These robots offer valuable learning and trading experience. Start making passive income as you learn and trade using proven robots. It’s your time to start making a profit with intuitive trading robots.

Our entire team wishes you all the best in your trading venture.

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