Michalis Phylactou is a developer with several trading robots around. Trend Extreme Dashboard EA is his latest marvel, and we have to see whether it works. From the word go, we can tell that this robot is an exact copy of his previous creations. There is no proof that the vendor has made any changes apart from the name. He has come up with a recovery robot that also claims to recover your funds. Read this entire post and find out more about the product.
There is not much to say about this robot, apart from having a crappy sales team. The developer of the platform could not create a separate page for the robot. Instead, they are selling the app on different platforms such as MQL5 and EAGawker. The prices vary on these platforms, which make no sense. Such a vendor is only interested in having more sales than actual sign-ups. It is the reason why he turns the robot into a product than a tool for trading. There is no way the robot offers any trading advantage over his previous creations.
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Trend Extreme Dashboard EA is a platform that is not able to deliver on its promise. The platform is another of Michalis products that use none existing strategies. From what we have seen, even the demo account is not working as effectively as it should. We commend the developer for being the few creators who offer a demo account. The only problem is that one has to trade for over six months with the demo account to gain trading knowledge. Apart from the demo account, we could not see any advantage of having this robot.
We expect a robot to be clear on the type of trading assets available. Users want to know the available currency pairs before signing up. In this case, the developer leaves users guessing. Investors have to sign up first before getting all the trading information. Some would be signing up, hoping to get Crypto pairs or minor currency pairs. There is no information to suggest the robot offers significant currency pairs. It is an area Michalis needs to work on when introducing his next program. From the initial look of things, this is another flop from Michalis.
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Michalis Phylactou claims to live in Cyprus; this is according to his MQL5 profile. The profile has a rating of 12470, which is almost fair. There is no credible information on his trading background and history. He just popped up in the online trading world with trading robots. For the few years we have seen his products, all are sold on the MQL5 platform. There should be more on him, especially if he wants to capture the attention of traders. Without information on his background, traders assume he is a novice developer.
From what we have seen in the comment section of MQL5, none of the people have used his robot. Over 60 comments and all ask about how the robot behaves in a real trading account. It could be a disappointing fact as none of the users have tested his robot. Without the full participation of traders, we are afraid the bot doesn’t get the attention it deserves. Again, the developer is to blame for this; he fails in his attempt to convince users. The response he sends to users is a sales one. He tries to convince users to sign up and see the results for themselves.
Another issue we have with his robot is that users have also to buy the loss recovery robot. According to the vendor, the two go hand in hand. Why would a developer insist on having a loss recovery program? It means that the developer anticipates the robot will incur some losses. If the loss recovery platform doesn’t work, users will fail in both scenarios. Considering that both these robots don’t come cheap, the loss is too heavy to ignore. And this is why we insist on extra care with some of these robots.
As mentioned earlier, the developer is offering a demo account, which is rare. Users should take advantage of this and test out the platform. The developer claims that this is a multi-currency EA. According to his description, the robot is based on the Trend Wave extreme. Before a trade is placed, there has to be a satisfactory score based on three parameters. Users can also customize the dashboard to suit their preferences. Entries will also be made within the confines of the custom settings.
The proprietor claims that he is from Cyprus; we contacted CySEC for information on the platform. Although most developers ignore the license part, it is crucial. We found out that authorities do not regulate trend Extreme Dashboard EA. It has some adverse effects on users as there is no protection of funds. Once you buy and deposit funds with the robot in play, there is no security of funds. The developer does not have a safety net for users to fall into. There’s no money-back guarantee on this trading platform.
A problem with such a feature is that there is a high chance of losing your funds. It is the reason the developer comes with a loss recovery platform. The loss recovery platform is not in any way, a safe net. There are some instances where the loss recovery platform is unable to recover funds. It means the user will have lost funds buying both the programs and the initial deposit. These are some of the main reasons why we are skeptical about using any of Michalis products. We feel that the risk involved is high than the expected ROI.
Trend Extreme Dashboard EA is selling at $85, which is at a discount price. The original cost of the robot is set at $105. We still don’t know when the discount will lapse, but it is worth checking out the demo. There is the loss recovery platform, which goes for $155. According to the vendor, for maximum effect, users have to pair these two platforms. With the consumer buying both the robots at a standard price of $260, the robot is on the extreme. There is no reason why one should invest in these two programs when there are proven and affordable alternatives.
There have been no trading results from a third party that can help verify the performance of the robot. We have not seen the vendor posting any results on third party websites such as FX Blue or myfxbook. And this is an indicator we are dealing with a risky platform. The vendor should be open to his trading performance. What he does is leave the actual live account testing to users. A real developer would have tested the product on his live account before offering to traders.
Trend Extreme Dashboard EA is a risky platform that tries its best to help clients. With their loss recovery platform, it remains to be a huge problem. And this is why we insist on safer products with a proven track record. The platform is risky even with the loss recovery platform. It is why we have to cushion users from this platform.
We won’t be recommending this platform as it has no verifiable trading results.
It is better to have transparent trading tools that have been tested by authorities. These tools offer a good way of trading. Ensure you sign up with trusted Forex trading robots. With these robots, traders are promised a safe trading experience.
Our team wishes all investors a successful trading period.
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