The Forex Earth Robot is a forex trading robot that operates on the MT4 trading platform and promises very high percentage profits. It uses the technology of virtual trades which monitors in the background, then, determines a perfect entry point and initiates a trade. The EA is easy to install (within five minutes) and automatically starts trading once installation is complete.
The price is $99 for the EURUSD pair, $99 for the GBPUSD pair and $199 for all currency pairs. All packages come with free updates and support.
The pertinent question remains: Is the Forex Earth Robot a recommended robot? Can it be trusted to deliver on its vendor promises?
The Forex Earth Robot: To Trust or Not to Trust?
There are some worrying signals that indicate that this EA might not be trusted to deliver. Some of these concerns are:
Trading Results
Vendor Identity
User Comments
Piracy
Website Expiry
Trading Results
As is our usual practice, we check for verified trading results using this system to cross check any claims about EAs made on the sales page by their vendors, and Forex Earth robot is no exception to the rule. There are about seven myfxbook demo trading accounts for this EA and the recent ones are only a few months old. This seems to be a strategy as the vendor offers no explanation why there are many demo accounts utilized for trading of the EA. We searched for a single live account result and found none. A plausible explanation is that when one account is blown by the EA, another demo account is opened. These are then passed off on the sales pages as genuine live trading results. Also, if the robot is the best forex EA as the vendors claim, why is it being used only on demo accounts? What is worrisome is that the vendors write boldly on the sales page that the accounts depict ‘live performance’ of the robot. This is a misrepresentation of the facts.
Furthermore, we checked out some demo accounts and found that the EA is not even making money on them. Here is one where the EA is losing money and is also incurring hefty drawdowns.
Vendor Identity
The vendors are anonymous. We don’t know who they are or where they are operating from. No one will easily hand over his hard-earned money into the hands of anonymous vendors promising an excellent but unverified product. Forex traders are unwilling to deal with unidentified robot vendors and so, this one is not an exception. There are many scammers in the forex robot market and one of their strategies is to hide their identities. So, many forex traders regard anonymous vendors as potential scammers.
Negative User Comments
There are no good user testimonials for the Forex Earth Robot. This is also a source of concern to the forex trading community. Few of the comments found are discouraging and this will limit the number of forex traders that will be willing to try this EA. Other users rated them low and also complained about their support service.
Piracy
When the Forex Earth Robot debuted in 2013, the forex community discovered that it has similar codes with the “Last X Bar EA” by funyoo, which is free on the internet.
CONCLUSION: Forex Earth Robot Cannot Be Trusted
The vendors of the Forex Earth Robot EA are anonymous. This is a trademark of many forex scammers. They only operate demo accounts on Myfxbook. If their forex robot is actually a trusted product, why has it not been used on a live trading system like other vendors have done with theirs? The robot is likely to have been pirated and many users gave the robot a low rating. Our recommendation is simple: avoid this scam known as Forex Earth Robot EA.