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Forex Ninja is a relatively new Forex trading robot established in 2018. The developers of the software say it will help you discover the possibilities of auto-trading on Forex. However, the company does not promise clients any kind of returns. They only guarantee quality by assuring clients the software has met rigorous backtests for over ten years.
It is refreshing to see a company that does not promise returns to its clients. The Forex market sees a lot of price fluctuation, which makes it hard to plan for profits. However, this does not mean that Forex Ninja is worth investing in.
There are many other aspects to look at before you decide to purchase a Forex trading robot. You need to do thorough research to ensure the robot best suits your financial needs. In this review, we will be assessing whether Forex Ninja is a system you should invest your money in. Furthermore, this is a fairly new system that has not developed a reputation yet.
In the meantime, many legitimate Forex trading robots have proven to work for an extended period of time. Investing in such companies will give you consistent returns without compromise. You only need to be patient and consistent.
Forex Ninja Review
While the company’s website is aesthetic to look at, it might be hard to navigate, especially to new users. The website barely offers in-depth descriptions of the product the company is selling. For that, we do not think the company is run by professionals. However, the website does feature a helpful tool called the profit calculator. This tool allows you to see the projected profits you would receive from your capital for up to six months in trading.
The company claims that you can earn such profits without lifting a finger, and they say that the Forex Ninja bot will do all the work for you. All you have to do is supervise it. To start using the robot, users have to install the MetaTrader4 terminal on the VPS server. Moreover, clients need to have an account with the company’s recommended Forex broker, IC Markets. The company recommends this Forex broker because they have the lowest spreads in the market.
Further, the company does a good job in terms of customer support. For starters, they offer an installation guide for new users. This guide helps clients get oriented to the software and learn how to configure it. Additionally, clients can get in touch with the company via their email at [email protected]. The only problem we have with this is that the email is hidden in the terms and conditions PDF files, and not all customers might find it. Moreover, the company does not say how long it takes them to respond to customer queries. Luckily, the company offers a live chat option on the website.
The developer of the Forex Ninja trading robot is a young Polish man known as Eryk Skorzynski. Other than this, there is not much information we can gather about this individual. There is no information anywhere on the Internet about his trading history. From what we can tell, this is a reasonably inexperienced individual that has no reputation in the Forex space.
Pricing and Features
The developers of the Forex Ninja trading bot are selling it at $39 per month. However, the price changes depending on your trading capital size and the length you intend to use the robot. This is a unique pricing model that we have not seen with other companies. But, we do not like this pricing model. They are charging clients for trading larger capitals, which is unacceptable.
Moreover, there is no unique feature the Forex robot offers to clients. Like many others, the robot allows you to trade in all currency pairs in the Forex marketplace automatically. The company does not disclose the timeframe that the bot works best at.
Forex Ninja trading Strategy
Sadly, the website does not offer any insight into the trading strategy the software uses in the marketplace. There is no information on the market setups the robot looks for to open and close trade positions. Eryk Skorzynski is not doing himself any favor by not disclosing the trading strategy the robot uses.
Disclosing the strategy is essential for clients as it helps them assess whether the robot best suits their portfolio. This is because they can see whether the robot uses longer trades or trades a higher capital. Moreover, they can tell whether a robot uses an aggressive or conservative strategy in the marketplace.
Any professional offering Forex trading services knows that this is crucial. Once again, we can tell that professionals do not run Forex Ninja. Moreover, disclosing the strategy would make the purchasing decision much more comfortable.
It is delightful to see a company that provides reliable trading results. Eryk Skorzynski provides a single Myfxbook account using IC Markets as the broker. The leverage used is 1:500. The account shows results from March 2020 and has 584 trades on the record. Overall, the results look impressive.
The account is showing a gain of 67.75% and a drawdown of 29.80%. The average win is at 7.07 pips, and the average loss is at -23.16 pips. Further, the average trade length is 4 hours and 38 minutes.
While these results are impressive, there remains a lot of details hidden about the trading bot. For example, we still cannot tell the strategy applied by the robot in the market. Therefore, it is impossible to determine whether the robot will be profitable in the long run. Remember that past results are no guarantee for future results. This makes us a little skeptical on the future performance of the trading robot.
The customer features several customer testimonials on the website. As expected, all the reviews are positive. Generally, the customers are happy with the services offered by the company. Sadly, we cannot rely on such testimonials to determine whether a company is worth the investment.
It is easy for a company to create fake customer reviews to promote its image. Furthermore, even genuine reviews can be cherry-picked to favor the company’s image. We prefer customer reviews from external forums such as Forex Peace Academy. Unfortunately, we do not have that at the moment. This is a relatively new Forex trading robot that has not had much traction in the market place.
We cannot recommend this Forex trading robot to you at this time. This is a fairly new product in the market that has no reputation for relying on. It is better to wait it out before investing your hard-earned cash. Furthermore, from what we can gather, the company is run by an individual who does not have much experience in Forex trading. We do not know what Eryk Skorzynski trading history looks like.
Moreover, Eryk Skorzynski has not disclosed the strategy the robot employs in the market. Consequently, we cannot tell what kind of results we can expect from the robot in the future.
For these reasons, we do not think Forex Ninja is among the best Forex trading robots in the market. There are better Forex trading robots that have been in the market for much longer.
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