FX Share Robots Review: Fxsharerobots.com Scam or Legit?

Fxsharerobots.com is a website that offers traders several Forex trading tools. The company develops both EAs and indicators. The company believes they have the best Forex robots, tools, and indicators. They say that the systems run highly profitable Forex strategies. Further, they tell clients to invest in artificial intelligence trading.

These are very bold claims that every company makes. We are not going to just take them for their word. This review will assess the company to see whether they can be trusted to deliver impressive results.

The website states that the company comprises of a team of MQL4 developers. They claim to produce professional automatic trading solutions for the last ten years. Sadly, there are no names anywhere on the website. The only thing on the about us page is a description and a single image with no name. We find this very strange.

Professional traders do not see the need to hide their identities from their clients. There is a lot of risks involved in investing with mysterious people on the Internet. This was the first cause of concern with this company.  In our research, we found several others. Read this review to understand why we do not think fxsharerobots.com is solid enough to invest in it.

There are better Forex trading robots that will offer you better services. Moreover, the best Forex trading solutions in the market have proven to work for a long time.

FX Share Robots Review

As mentioned, the individuals who run fxsharerobots.com operate in full secrecy. They do not reveal who they are or the physical address of their offices. They only tell us that they have developed professional trading solutions for over ten years. However, we cannot verify this claim.

We have no idea what these people’s trading performance looks like. The Forex space is very brutal. It is not easy to make returns due to price fluctuation. A wealth of experience and knowledge is crucial to trade the markets profitably.

Consequently, trading systems that are run by experienced individuals who produce the best results. Sadly, we cannot verify experts with experience run this website.

Moreover, FX Share Robots is all over the place. The company seems not to have a focus on what they are doing. They are producing both robots and indicators. Moreover, each of their systems works in any time frame and any currency pair. The developers say this is to allow users to choose what best works for them.

While this may help, they leave clients to go through a trial and error period before finding what works for them. This process should not be the responsibility of the trader. The developer should make a system that is ready for use without all the hustle. Besides, clients shouldn’t lose money trying what works for them.

Clients can get in touch with FX Share Robots by filling a contact form on the website. The company does not say how long it takes them to respond to customer queries.

Trading Systems

FX Share Robots sells its trading systems from a price of $39.90 to $198.90. This price range encompasses all indicators and trading robots. The company currently has 13 systems in their roster. These include:

• Smart Auto Breakout + Hedge EA.
• Forex Scalping Strategy System EA.
• Hedge Channel Trading System EA.
• RSI Trading System EA.
• Trend Signal Indicator.
• Channel Trader System.
• Universal Trading System Software.
• Market Tracker.
• S&R Channel Trading System Software.
• RSI Trading System Software.
• Dynamic Trader.
• MacD Trading System.
• Moving Average Trader.

Most of these systems are trading robots. There are adequate details on how each of the systems works. Clearly, this is a vast lineup of trading systems. We do not see how the company can manage all of these products adequately. For us, it seems like overkill.

The company could just focus on a few systems and work on improving those. Remember that trading systems require constant assessment and updates to ensure they keep up with strategies and market events. With these many products, it may be impossible to keep track of the performance of each system.

Consequently, some of the products may end up lagging. Moreover, the company says they are continually researching new systems to release to the public. These people have their hands full. They just have too many things to do. We cannot trust them to keep all the systems updated.

Trading Results

A system’s trading results tell us everything we need to know about its performance. FX Share Robots does provide us with trading results for their various trading systems. However, the team relies heavily on back test images. This is not a reliable mode of presenting trading results. What we would like to see is the team putting their money where their mouth is. We want to see live trading results on a Myfxbook account.

Moreover, back tests are not the best way to show a system’s performance. They are mostly based on mathematical data and history. The market is a whole other thing. Prices are affected by many things, including natural events such as weather. Backrests do not put into account such events. Therefore, trading robots may not perform the same in the real world as they did in the back tests.

Furthermore, the company has no confidence in their products. That is why they do not trade live accounts on them. Why should we trust the products?

What are Customers Saying about FX Share Robots?

We love to hear from people who are using a product. This gives us an insider’s look at the customer experience. FX Share Robots features several customer reviews on the website. All of the reviews are positive and are linked to an external website. While these may be genuine, the company can cherry-pick only positive reviews. That is why we always look for customer reviews somewhere else other than a company’s website.

Luckily, there are a few reviews of FX Share Robots on the Forex Peace Army forum. The company has a 3.6-star rating out of 5. This is not bad, but it is not very good either. The users seem divided on the services offered by the company. At the very least, we feel like some of the products are not as profitable as the company wants us to believe.

Final Verdict

Overall, FX Share Robots seems legit. However, we cannot recommend the company’s products at this time. There are still many gaps in the company that we cannot overlook. These are products from individuals who operate in full secrecy. This lack of transparency is inexcusable in this day and age.

Moreover, the company has too many products in its lineup. We doubt they can manage all of the products and keep them up to date with strategies and market events. Only products that are updated regularly can perform well in the Forex market.

Failure of updates leaves a product lagging. Besides, the developers depend too much on back tests. We would love to see live trading results before we can fully trust the products they provide.

As it stands, there are better companies with better products in the market. Stick to the best Forex trading robots in the market to save yourself some peace of mind.