Z Trader FX EA is a Forex robot whose developer claims was built for convenience. According to the developer, this software was worked on for an entire year and now we can enjoy the fruits of their hard labor. On top of that, we are surprised that this developer who has worked on an expert advisor for a year does not even reveal who they are and where they are based at. Furthermore, the person who put together this website doesn’t seem to have a creative eye as the site is not aesthetically pleasing. They could have spent a few dollars to hire a developer who would do a great job on the site, and customers would simply come in in numbers. But this is not the case or at least we think so.
This poor workmanship should never find its way into the algorithm of this robot because if it does, we will be having a very bad robot to use for trading. And also first impression matters. If these guys has utilized the skill of a web developer, then we wouldn’t be talking of these things. We would be discussing what the robot can do and perhaps the results that it has achieved so far.
Having said this, let’s dive into the things that matter. But first, if you’re in need of a good Forex robot that you can rely on for a long term, this list of expert advisors should serve your needs well.
According to the developer, they are sure that this software will become one of our favorites in the market if we end up ordering a license. We also realize that the word software is spelled wrongly but we will choose not to be picky and instead concentrate on what matters.
This is shameful on the part of the development team, and hopefully they will change a few things about their site. In their marketing materials, the team are highlighting 3 important aspects of the software and one of them is money management.
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The second aspect which they are putting emphasis on is the frequent updates which will keep the software up to date. These updates are provided at no extra charge. This is the standard among most expert advisor developers and should not be seen as something extraordinary.
Finally, the developer tells us that this system will work fine with both live and demo account and with a small deposit of $100 only.
You should generally not under-fund your trading account because it will not allow you to take big trades that can return substantial profits in a short time. We encourage funding your trading account with an appropriate account.
So they feel that these 3 aspects set this robot apart from what is available in the market right now. This is something we cannot agree with because these elements are found in literally every robot that we come across on the internet. It is not like this developer is introducing a new thing. But probably they just wanted to fill up the page with information so as to avoid having a blank page.
These people don’t even tell us the strategy that their software is using. They only tell us that it is neither a scalper or a Martingale trading system. This is quite vague and we generally prefer that a developer should provide as much information as possible about their trading apps before they can even think of selling a copy.
This type of poor explanation is very common by the way. We have seen it among many developers out there and we are always taking note whenever we come across shallow pages like this one.
On top of this, we don’t know what time frame this software is relying on to open trades. Therefore, no strategy or time frames were revealed. The cost of the software is $117, which is on the cheap end of the market. Will you make money from a software that costs $117 only?
The only thing they tell us is that the software trades one pair only and that is the EURUSD. As a trader, paying $117 will get you 2 real and 2 demo accounts. For $137, we get 3 real accounts and 3 demos. These plans come with free updates but what makes it very suspicious is that there is no list of past updates.That means we cannot verify if any updates were done in the past.
Now, the good thing is that they have provided their myfxbook performance. So while they cared less about the aesthetic value of their website, they cared most about demonstrating their past performance. This myfxbook account was created in 27th August and is showing a gain of 394% respectively.
The system has placed up to 70 trades so far and the draw down in the last 4 months is 35%.
This means that the software is not a scalper. The win rate is also impressive as it is at 94%.
Generally, these results are impressive but the vendor should work on how they are going to present this product in a professional manner. Many traders are waiting to see whether they will go an extra mile to tell us what we want to see.
Among the things we want to see include their trading approach and professional presentation on their site. If these things are coupled with trading results like the ones we have seen above, the software can start selling like hotcake.
Therefore, from here onward, our plan is to watch this trading account to see whether the impressive gains will be sustained in the long run. If they sustain these results, then it will be a good thing and possibly we will consider changing this review.
At the moment, Z Trader FX EA does not look promising but just like we said, we need to monitor their myfxbook account for a little longer to see what ultimately happens. While we do that, sign up with these ones.
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