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FX Street Robot Review: Reliable or Scam Robot?

FX Street Robot Review: Reliable or Scam Robot?

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FX Street Robot claims that it is the perfect automated trading system. They emphasize on a well known fact that 95% of traders lose money. Now they are offering us a solution where they claim that these traders don’t have access to a solidly tested trading strategy. This is to say that FX Street Robot is utilizing a trading strategy that has been solidly tested for results. They are confident that this is something they can offer the trading community, thanks to their FX street Robot.

Unfortunately, this is yet another Forex developer who is quite secretive in their style of doing business. They don’t say where they are located, who they are or even the gains that they have achieved since they started developing this FX Street Robot. This is most likely going to impact their reputation in a negative way because most traders now use products whose developers are transparent. They don’t rely on anonymous developers due to the risks that are associated with using their products. So we hope this is something they will soon address in their sales page.

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FX Street Robot review

In the meantime, traders can get in touch with the team using a free gmail email address. The developer of FX Street Robot believes that simplicity is the key and that they learned this from their years of experience with creating Forex robot. Based on this information, we believe that FX Street Robot is not the first trading app that this developer has created.

fx street

The FX Street Robot is said to have the capability of adapting its trading logic so that it can trade any market condition. In addition to this, it uses a combination of 5 technical indicators which the developer believes will give them a significant advantage over other similar products in the Forex market place.

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They tell us that this Forex robot took a whooping 4 years of development in order to produce because it is relying on some of the most advanced mathematical formula to analyze every opportunity. This statement certainly sounds like something that a developer will make up just to attract customers. When there is no trading performance to prove that their alleged mathematical formula works, it’s difficult to trust what they tell us.

The robot uses  a hedge trading strategy. With this strategy, the developer is also giving us risk percentage settings so that traders can specify their money management accordingly. This would mean that any user who buys a license of this robot must be familiar with money management because if they are not, they may not understand how to use this feature correctly.

Also, the hedging strategy in question is not explained in details. Instead, the developer says that the robot uses this strategy when it wants to filter out bad trades. This means that at the end of the day, FX Street Robot is supposed to have very few bad trades. To win on a consistent basis, the team believes that improving the source code allows the robot to perform at its best on a consistent basis. To know whether these things are real, we will need to get to the bottom of this by actually reviewing their trading strategy and deciding whether or not we should trust FX Street Robot.

A break down of the features of this robot

The main strategy of trading appears to be hedging. They are selling 3 licenses which cost anywhere between $99 and $119. It is optimized for the pair EURJPY but it’s not clear whether we can trust the software on other pairs.

The 3 license plans have been labeled basic, standard and pro. The pro plan costs $119, which is on the lower end of the market since most developers charge this amount for their basic plans. The 3 plans provide lifetime access and so there is no need to worry about recurring payments. The difference between the 3 accounts is that the basic one comes with 1 live account. The standard plan comes with 2 live accounts while the pro account lets us trade with 3 live accounts respectively.

These plans come with free updates, 100% automated trading capability and round the clock support. Also, we would like this developer to elaborate further on why they believe the Forex robot is only suitable for EURJPY pair. It is very rare to find a Forex robot developer optimizing their expert advisors for one specific pair.

Trading results

Are trading results good for this expert advisor? FX Street Robot is linked to an FXblue account which is showing a gain of over 280%.The software’s activities have been tracked for more than 3 months now. The average trade length is just over 40 hours. However, draw down is quite high as we are looking into a figure that is as high as 40%.

In their worst trading day, FX Street Robot recorded a loss of -39.2%. This loss was somehow recovered but the short duration in which the robot recovered from this loss makes us believe that it is using a risky trading approach. In our opinion, you can’t find a Forex robot that generates 50% and above a month without any risks being associated with the trading strategy. Even some of the robots we have reviewed here have shown huge results but in the end, they messed up their customers accounts.

To justify this argument, each one of you can agree that FX Street Robot has proved it with a 40% draw down. It simply means that the robot is risking too much. At the moment, we are seeing a 87% win rate., but we’d also like to see how it will perform in the long run. On top of this, we’d like to see the developer also trying to show us these results on myfxbook. They are our preferred statement sharing platform.

Our best advice for you

Unfortunately, today we are not going to recommend purchasing the FX Street Robot. Let’s sit on the sidelines and if you want a good robot, click here.

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