We found an interesting expert advisor for traders of all levels who want to increase their account balance. The EA in question is known as Eklatant Forex Robot. To purchase the robot, traders must order their license from the domain, eklatantforexrobot.com. According to the developer, traders only need to turn the computer on, install the software and let it run to make stable profits. One of the principles that this developer believes in is that greed must be eliminated for stable profits to be realized. They now have an automated solution that can easily solve the problem of greed.
Unfortunately, it’s not clear who the developer of Eklatant Forex Robot is, what their trading experience is or even where they are operating from. However, we know that the site has been online for less than a year. The anonymous developer can be contacted through an email which they’ve published on their landing page. Hopefully, this developer will consider changing this tact to treat their clients with more transparency.
Is this EA really generating stable profits?
Note: These robots should produce more stable returns in the long run.
The developers of Eklatant Forex Robot are promising us that this robot features a ”shocking underground technology” that sucks profits from the FX marketplace. They also claim that the technology that this robot uses has been hidden from the public for many years.
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Definitely this developer is setting high standards for their product, and their audience really need to be convinced that Eklatant Forex Robot works as explained on the sales page. Unfortunately, the statements only sound like empty marketing declarations because the developer is only showing us trading history for the last 93 days, which is directly contracting the claim that this robot has been trading for many years.
Due to these marketing declarations, this developer is coming across as canning and deceptive. So should we judge them based on this mistake alone?
Definitely not. We need to look at the strategy to be able to make up our minds concerning this trading robot. So according to the developer, this robot is using a low-risk trading strategy in conjunction with Fibonacci levels and other indicators. These are the usual Forex trading indicators such as CCI, Stoch, RSI and moving averages. With this combination, the developer believes that he has the perfect combination for picking up trends and staying ahead of the curve.
This is how far they can go in terms of describing the software. There is no in depth analysis of the methodology which they are using to trade the Forex market place. In fact, the rest of the content found on the sales page is quite vague. We’d like to point out that vagueness is not a strange thing in this market. We have reviewed many similar types of services before such as Trends2trade and discovered that majority of vendors out there are somehow not able to give a crystal clear explanation of their service.
This robot trades major FX pairs such as EURUSD, GBPUSD, EURGBP and USDJPY. It trades the 5 minute time frame based on the Fibonacci levels. The price of a license ranges from $179 to $499.
Traders who want to purchase a license will be faced with 3 options to choose from. All the 3 options come with free updates, 24/7 support, instant download and lifetime access. Basically, the features are the same. The only difference is in the number of licenses that a trader can purchase with any of the 3 plans. For example, if you purchase the robot for $179, you will get access to one real account and one demo account. For $249, the robot will come with 2 licenses for demo and 2 licenses for real accounts. And of course those who purchase a copy for $499 will be able to use the robot on 4 real accounts and 4 demo accounts respectively.
The issue with restricting us from unlimited demo accounts is that we can’t test strategies on numerous demo accounts. It would have been much better if this developer ensured that all their licenses were allowing unlimited demo testing. Perhaps this is something they will change soon as time goes.
Unlike many other Forex robot developers who don’t verify their performance via third party platforms like Myfxbook.com, this developer has decided to show us their robot’s performance at FX Blue. This account has been running for 93 days only. According to this FX Blue account, Eklatant Forex Robot has been generating 10% weekly returns and just over 270% returns so far.
We must admin that these numbers are looking good. They are already attracting our curiosity since it is not easy to find good robots that can generate these returns within a short period of time. The only thing we want to remind you is that this is still a small sample of data.
The robot also seems to be placing many trades in a day. According to the performance records, we see that Eklatant Forex Robot has placed about 2000 trades in the last 3 months. This translates to 40 trades a day. It would be right to say that this robot is a scalper for that matter.
We must admit that the win ration for Eklatant Forex Robot is quite good. The pairs that it has traded in the last 3 months are showing a winning percentage of up to 77%. These numbers are definitely pleasing.
Therefore, at this point in time, we are sure that the robot is a scalper. It aims to take 5 pips per trade and 7 pips in losses. What this means for the average buyer is that the trader in question must utilize the platform of a low spread brokerage because if the robot is going to aim at 5 pips per trade, a wide spread broker will make it extremely difficult to win. The only problem we have with this robot is that the trading sample is quite small. Try these robots and see what returns you can get.
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