Forex Breakout Bot Review: Is Scam?

Forex Breakout Bot Review: Is Scam?

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Forex Breakout Bot is a brand new expert advisor whose developer promises to revolutionize your trading in record 30 days. They claim that this will happen using a simple system with proven results. In this review, we will be providing a detailed analysis of the trading bot, trading strategy, results and anything else that might be of interest as far as this review of the Forex Breakout Bot is concerned. The question that you are asking is whether or not this robot is viable in the long term. You don’t want to invest in a robot that loses money from day one or starts to lose money after a certain period of time.

We start by saying that the vendor of Forex Breakout Bot is anonymous. We don’t know who they are, where they are based at or even their trading experience. If they want to activate confidence in their audience, they should add this information because it helps a lot to build trust. But when they hide it or act as if they do not care, they push away customers further. The sales page tells us that Forex Breakout Bot EA is designed for day traders, scalpers and swing traders. The algorithm of the bot identifies shifts in momentum. The vendor also provides several chart demonstrations to show us how this happens and how the robot gets an entry into the Forex market when an opportunity shows up. The trade examples provide a general idea of how this system works. However, they did not state any rules or parameters that this robot follows when it wants to gain entry into the Forex market.

Forex Breakout Bot EA

We do not like how the vendor of Forex Breakout Bot is marketing this product because they are not providing pertinent information that can help with understanding this product. Most Forex robot developers will provide this information but this vendor does not seem to bother. One thing they should know is that if they do not add this information into their marketing content, then they should not blame anyone for failing to find their products among the best Forex robots that traders can use this year to make money.

Forex Breakout Bot review

This robot trades the 1 hour time frame and handles a variety of currency pairs involving EURUSD, GBPUSD, NZDUSD and USDCAD. We already have insights that this is a momentum trading robot. The price of the robot is $77 dollars only.

This price is definitely on the lower end and nearly all traders can afford it. With this price, traders get access to the robot itself, a user guide, video tutorials and access to support team who promise to be around 24 hours a day. The team believes that the total value of this product is over 1k but they are selling it for $77 only.

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This is possibly a marketing trick because we have seen many vendors claiming that their robot should be priced in their hundreds of dollars but they are charging less because they want users to afford the product. Maybe they want to create the impression that the product is valuable and we should not just ignore it. Is this pricing fair? This is a tricky question because some vendors who don’t want to work hard will quickly put together a Forex robot and sell it at whatever price. They know it is not working and even the time spent to build and test the robot is very short, which means that the developer can afford to sell copies for almost nothing. On the other hand, robots whose developers have worked hard to create will most likely cost more. They will not be priced on the average that most robots go for. Just keep in mind that this is how the market works.

Customer feedback

Well, the robot has not received any reviews yet. This will be the first review that discusses the robot. We hope that many people will join the conversation to tell us what their experience has been with this robot. However, the other reason why reviews are not there yet is because this is a brand new product and it is yet to start capturing the attention of the trading community. For now, we can only sit and wait for people to start talking about their experience with the bot.

Is there proof of trading performance?

Proof of trading performance is shown in screenshots but our research discovered that this Forex robot was being used on two myfxbook accounts. One account has been running for 3 days and is showing a loss of -4% while the second one has been running for a month and is showing a gain of 10%. In the second account which has been running for 1 month, we see that the robot has been using an effective risk reward ratio. We see that it has opened 38 trades so far which lasted 24 hours on average.

We believe that the first account is probably not ripe for showing results yet. We also think it is proper for this vendor to allow these accounts to run for about 3 months before they can begin selling this robot to the masses. Right now it is just too early given that Forex Breakout Bot is a new trading product. There is no need to be in a hurry to sell copies.

Our best advice for you

Because we have much smaller trading samples in the myfxbook accounts, the best thing to do is to wait and see if the robot will perform well in the long term. By the way, 1 month is a short period of time to consider. The good thing however is that the vendor has cared to provide trading results for this robot but neither of the two accounts give us confidence that this robot can stand in the long run. The best thing to do would be to wait. Do not be deceived by the small price of 77 USD thinking that this is the best deal. Meanwhile, you can use these tested robots. 

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4 Replies to “Forex Breakout Bot Review: Is Scam?”

  1. This is Mark Christopher, the creator of the Forex Breakout Bot (not hiding at all). The system is legitimate and can definitely make money. As with any trading system one needs to not go crazy with leverage and risk half of their account on each trade, etc.. but we cover this in the PDF instruction manual when you purchase the EA. Best Regards! 🙂

    1. bom dia tenho feito minha inscrição que foi publicada no face ,Mas vcs não colocaram a opção gratuita como prometido no anuncio .
      Gostaria de termobar a opção pode enviar no meu email ?

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