Berlinetta Trading is a Forex robot and also a trade copier providing traders with broker-independent alternative of a MAM system. That is to say that the developer of Berlinetta Trading simply uses this EA on their master account to trade their clients’ accounts. The difference between a regular trading software and this EA is that customers don’t have control over the trades and settings of the EA. Only the developer can access these features.
The website is owned and operated by Berlinetta Forex Trading Group in Hungary. Berlinetta Forex Trading is a strange name in the Forex trading community as there digital footprints are virtually non existent. The developer does not provide us with any information about themselves and their trading experience either. Instead, they just want us to trust them that they are going to generate returns for us when they trade our accounts from their master.
So, the question is: can we trust Berlinetta Trading or is this yet another Forex scam where traders are likely to lose money?
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We must admit that this is one of the most difficult reviews we ever wrote here due to the scarcity of information on this developer’s website. The developer explains what mirror trading is on their site and how signals will be copied to our account. That’s all.
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At this point, we don’t believe that any of you is interested in lectures about generic topics like what is mirror trading. It is just a waste of our time because the developer is using up space on their site to talk about the less important issues while ignoring what they should be talking about like their development experience, how their expert advisor works and so on.
Berlinetta Trading EA does not have a description of its trading strategy or methodology, which is a huge setback because we are used to being treated to this information which we usually relay here for your understanding of how an algorithm works.
Therefore, since Berlinetta Trading EA is leaving us with nothing to ponder about, traders who choose to utilize this system must go in blind hoping that they will make money with this trading operation. That’s certainly not the way it should go especially if you consider that trading is risking and 95% of those who attempt it lose money.
It comes as a shocker that Berlinetta Forex Trading is charging $247 to access this mirror trading operation. The specific pairs that they trade include USDCHF, USDJPY, NZDUSD, USDCAD, GBPUSD, NZDJPY, EURJPY, EURUSD, GBPJPY, URAUD, EURCHF, EURGBP, AUDJPY and AUDUSD.
Despite the mystery that surrounds Berlinetta Forex Trading, the product is selling for the stated price and this is supposed to get you one license for both demo and live accounts.
We believe that the reason why there are no multiple licenses is because Berlinetta Forex Trading doesn’t require testing or altering with settings.
But this might not go well with some people like me. In fact, majority of people like to have control over their trading as opposed to utilizing a mirror trading service. Even the community of traders who frequent this blog has confirmed that they like to utilize an Expert Advisor instead of a copy trading service.
The reason we personally prefer having control over my trading is that when the take profit or stop loss is not satisfying my expectations, we want to be able to change that to fit my requirements.
We wouldn’t want to put 100% of my trust on someone who does not even provide us with their trading strategy or algorithm to evaluate. It is good practice to have these things on the sales page and if they are not there, a developer can face a really hard time converting leads.
They are providing us with an FXblue account showing us a whooping gain of 140% over the last 85 days. At least they are better than Euro Scalper Pro who don’t provide their trading results in a satisfactory manner.
The average length of a trade is 29.5 hours and draw down is 16%. Currently, the software has a win rate of 72.1% and trades very frequently as it opens more than 80 trades per day.
While these numbers are pleasing to the eye, Berlinetta Trading needs to provide us with a big data sample to analyze because 85 days is a very short period of time to make a conclusion that the robot is profitable.
Also, we wonder how this robot can enter over 80 positions in a day while maintaining such a win rate. It almost sounds like gambling. So what we want to do from now moving forward is to monitor the progress of this account to see whether Berlinetta Trading will maintain these results for at least 6 months.
Please understand that the selling strategy that Berlinetta Forex Trading Group is using may be liked by others because it is straight forward and in the end, it provided a ‘buy now’ button even without a strategy in place.
We are not one of those traders who make purchase decisions like that. We have to carefully evaluate what we are buying and if the strategy meets my trading criteria, we can go in and buy. But if it doesn’t or in the worst case scenario the developer is saying nothing about their trading strategy, we will simply browse the site and ignore the product.
We don’t know about you but from our perspective, we like using trading products that have a complete description of how they work. Trading performance is just a complementary of what we have already learned from the developer’s website. So we will not recommend Berlinetta Trading at this time until this info is made available.
If you are in need of a good expert advisor, click here to find out which ones we are recommending today.
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