Forex Sniper EA Review: Is this Robot a Scam?

Forex Sniper EA Review: Is this Robot a Scam?

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Forex Sniper Review is out after Vaulin, the developer, made some bold profit claims. From what we have seen, the bot is another product stealing from investors. What the bot does best is make a profit for the first trade; it then losses all other trades. It is the reason why we must expose the use of this platform. These developers do not even test the product with real accounts before offering them to investors. Read this entire post for more on ForexSniper EA.

Forex Sniper Review

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About Forex Sniper

There’s not much to say about this robot apart from the problems it offers to users. The developer has no official website and is selling it through several forex stores. It is not a wonder that the domain is for sale. What the vendor has done is put up his platform for sale for obvious reasons. There has not been a lot of chatter with this robot, and most users find it appalling. Investors should be wary of this robot as it is simply not worth your money or time. Stay away from it and read this entire post to find out why.

Forex Sniper is, without a doubt, a simulation of how a real platform works. It seems that the vendor is selling a demo account as the robot works with the same concept. Users sign up, hoping to start making a profit with the robot. After the first few trades, it seems that the robot is working tremendously. The members get to see their account balance rise and start believing in the robot. With this being the case, the vendor takes advantage and urges users to deposit more funds.

Any deposit made after this trading session is the last members make. The robot trades at a loss throughout the remainder of the trading session.

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Assets covered by the robot

What the developer fails to inform users is the assets the robot covers. Sure, we know that the robot is all about forex products. There is no mention of the assets or trading instruments to trade with the robot. Some investors sign up believing there are crypto pairs available. The developer should inform users of the available assets. From what we have seen, the robot seems to be mainly involved with major pairs. With this scenario, the vendor fails to disclose it, and once you buy the robot, the information becomes available. Investors are signing up blindly with this robot.

Business owner

As of editing this post, the owner listed on the Google search engine goes by one name, Vaulin. There is no information of the second name of the developer is an expert. With no history of the vendor, a lot of questions need to be answered. And this is the reason why we must be willing to expose the robot’s agenda in the market. Without exact details of the developer, we conclude the owner wants to remain anonymous. Anonymous entities are by far the worst kind of trading tools; there’s no telling when they shut off.

Comments and feedback from users

With all the hype that we have seen on their official Facebook page, there is not a single user comment. The developer commends the platform’s capabilities on his post. We could not get any verifiable comments from users of this platform. It is the reason why we must expose this robot and any other. There are reasons why we must get comments from verifiable users. Thanks to their comments, we can determine the expected user experience. And this is the reason why we will be exposing the vendor. There is no positive feedback from users in regards to the robot’s user experience.

Domain tools

Even with the platform selling at different forex stores, there is some disturbing website analysis. It appears that the domain is up for sale. What users should know is that the site went live on 13th January 2013. The site is over a year old in the forex trading market and is now for sale. These scam artists are selling the domain to another developer who will come up with a similar product. We will be on the lookout for the domain once it pops up with a different product. Scam artists often recycle products using old domain names.

Features of Forex Sniper

There seem to be two models that trade with different currency pairs and time usage. The first model trades with two currency pairs, GBP/USD, and EUR/USD. With the second model, users get an unknown currency pair as the vendor fails to explain it. Users of the second model also get a lifetime license that does not expire. There is also a 30 percent discount as the typical cost of the two models is $212 and $652, respectively. Before committing to any online investment products, ensure you do some due diligence.

Forex Sniper License and Registration

Forex Sniper is yet to be regulated by any official regulatory institution. There’s a problem with this robot as users won’t enjoy the benefits of having a regulated entity. For once, there is no way users get the safety of funds. Without a valid permit from authorities, users are facing a risky situation. The risk is not worth the expected ROI with this platform. It seems the vendor doesn’t intend to validate his product. There is no mention of the vendor applying for a permit with regulators.

To check their regulatory status, we checked with various departments all over the world. With their servers in Virginia, we checked with the CFTC and NFA. Both these American regulatory institutions have not heard of this platform. It is the same comments we saw with European regulators. Most of the regulators in Europe, such as CONSOB and CySEC, plan to ban the use of this bot. We believe some users from Europe have lodged complaints regarding the robot.

Pros and cons of Forex Sniper

Available models

Forex Sniper is furnishing users with two models, as listed above. With the price of $212 and $652, we believe this is on the high end. The robot does not provide any advantage of holding one model or package over the other. What looks like a difference is not big enough; the lifetime license. There should be clear and distinct features expressed by the vendor before the purchase is made. Most users will probably go for the cheaper version, which has no indicated updates information. The price could be a monthly subscription, as the vendor is not able to determine it.

Contact and support

When it comes to contacting the vendor, this is where matters turn nasty. The vendor does not live a direct line to users. One way of communicating with the vendor is through the forex stores. There is no email address on the robot’s settings of live chat. We noticed that the vendor does not list a phone number. It all points to a vendor who wants to remain anonymous and has no interaction with would-be victims. After you buy the robot, users are left to do the set up on their own.

Results and trading performance of Forex Sniper

There’s a single myfxbook account, which was last updated on April 16, 2018. It goes to show the lack of interest on the vendor’s side to track the performance of the robot. Even with the results, we still don’t see the projected income level. The robot is not making the expected profit margin.

Scam or Legit Forex Sniper

Forex Sniper is a scam that must be exposed by all means necessary. We believe this is a robot owned by professional online scam artists.

Bottom line

We won’t be recommending a robot that is already selling its domain name.

Ensure you sign up with authentic forex trading robots at all times. These robots offer a safety net for investors. Make sure to sign up with industry-backed robots that provide a realistic profit margin.

Our entire team wishes everyone a happy and prosperous trading experience.

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