Reaper Forex Robot review: Is a Scam?

Reaper Forex Robot review: Is a Scam?

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Reaper Forex robot is just among the many expert advisors developed by a team known as Forex Robot Trader. We have reviewed them here before. However, this is the first time we are shedding light on the Reaper Forex robot. The developer believes that this robot will change how we trade the Forex market place. Because we have reviewed their other systems before, we doubt whether this developer will be able to sell a product that really performs as claimed on the sales page. By the way, their previous products have not been able to perform according to expectation and we do not believe that the Reaper Forex robot will be any better.

Therefore, based on this assumption, we want to dig in just to see whether this team will give us the transparency that we desire this time round. It should come to your attention that the Forex robot Trader is a long time vendor who has been around for some time. But it’s not clear who is currently running the website after the demise of the owner. The website is quite impressive by just looking at it. It is not clear whether the people who took over after the demise of the owner are Forex traders or marketers. We have considered the flashy elements and the speed with which the site pages are loading and have come to the conclusion that this website is probably in the hands of internet marketers as opposed to traders.

Therefore, if you are here because you are looking for an expert advisor, we are asking you to click this link because we have prepared the best trading resources and published them on that page for your use.

To get in touch with support, one can send an email or open a ticket on the website. When you visit the landing page, what to do should be quite obvious because everything is laid out there in black and white.

Reaper Forex robot review

This team promises that this expert advisor will tip the scale by taking trades that even the brokers will never manipulate. This paranoid thought has also been reflected in their other sales pages. In every product they sell on the internet, they at least mention this theory although nobody has ever come up with proof to show that brokers are manipulating trades. It remains suspicious until it is proven.

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We need to conclude as at now that the Forex market place is very transparent and as long as you are trading with a regulated broker, there is nothing to be afraid of. Whatever else that expert advisor sellers tell you is based on rumors with no substance or the developers are simply trying to sell a product. So they have to come up with stories that will make you purchase the product without a second thought.

In terms of the strategy that the Reaper Forex robot uses, the developer tells us that the strategy focuses on daily price breaks in order to take advantage of ‘’explosive trades’’. According to the explanation, we understand it that the robot looks for hidden support and resistance areas where the price is likely to experience sharp reversals. These areas can potentially net huge profits. Whereas this step is not as detailed as we would want it to be, it at least goes to a level that many expert advisor developers cannot reach. By the way, this is one step in the right direction.

The developer also claims that trading is about patience and more so with this strategy, it requires a lot of patience. The Reaper Forex robot trades all Forex pairs and costs $99 per license. We already know that the strategy focuses on exploring support and resistance zones. One thing we realize with this Forex robot is that it does not focus on a specific pair since it trades nearly all pairs. While many will believe that this is an advantage, the careful trader will see that the strategy that the software uses is not likely to work with all Forex pairs. It will work well with one or two pairs but fail terribly with other pairs. That is just what happens when Forex robot developers decide to create robots that don’t focus on specific pairs in the Forex market place.

The software goes for $99 but this is because the vendor claims that he is giving a 50% discount. You have to understand that when such vendors claim that they are giving a discount, it’s because they want you to make a purchase and not because they will raise price any time soon. This is just something which they have done to increase their sales and you can rest assured that price will never increase.

Trading performance

The Reaper Forex robot has performance that is quite unrealistic as they claim that in the last thirty days, the robot has generated returns of up to $119,000. To prove that this is the truth, they have provided us with an old method of proving numbers. Instead of using myfxbook to showcase their trading results, they use a screenshot showing numbers which could have easily been manipulated. If indeed Reaper Forex robot is this profitable, we don’t believe that the cost of a license would be going for $99. And we also believe that they would be more confident with their trading statements. Instead of hiding behind fake results, they would be showing us a live myfxbook account that updates the activities of the robot by the minute.

Our best advice for you

The Reaper Forex robot is not the type of product one would trust because the developer is obviously not transparent with their figures. We appreciate transparency here and if we cannot get it, we often conclude that the product in question is deceptive and possibly fraudulent. For that reason, we are advising traders to only invest in legit trading resources with proven trading performance. Some of those products can be found on this page, just in case you want to get started now.

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