Today we want to tell you about a new robot called FxShooter. We received several messages from our readers who wanted to read a review of this robot.
Well, let’s get started! We go to the producers’ website and we see a slogan with a picture of the box.
It’s ok. There’s nothing special. At the bottom of the presentation, we see a dead timer.
This leads us to the idea that the seller hasn’t visited the site for a long time, which in turn doesn’t add confidence to the product. As well, there’s the “Download” bottom which goes nowhere and doesn’t start downloading.
The forex robot has been enchanted by the following futures: Fxshooter is fully-automated, easy to download and install, money management, free lifetime updates, low drawdowns, 24/7 support.
Lower, we’ve got backtest results, which of course, were successful. The presentation ends with the pricing: basic version costs $249 with 2 real accounts, advanced one $450 with 4 real accounts.
FxShooter EA: To Trust or Not to Trust?
We don’t think so. There was no info about what type of strategy the fx robot will use during performing, as well as, no info about a min deposit to work well with different types of risks. For us, it looks like we’re not ready to trust the money even for buying it.
Weak trading results
FxShooter runs on the real USD account, uses PaxForex as a brokerage company and MetaTrader 4 platform.
The account has been funded at $1000. During two months everything went fine till August 2019, During four months the account got a +146% gain. There was 0.3% of daily gain and 9.40% of monthly.
As you can see from the sheet the robot can’t trade smoothly: today and this week results look good but monthly one os -2.29%.
During the 4 months, FxShooter performed 639 trades (964 pips) winning 84% of them. The average trade length is about 8 hours. We’d like you to pay attention that all of these successes were in the first several months.
We can notice that the robot has some kind of problems with shorts showing -$232 profit on EUR/GBP pair and -$174 on USD/CHF.
The first three months looked like the marketing period of selling the robot. So, now we understand why the timer on the site doesn’t work. The seller got needed the money and make the robot a scam. With the progression like that 2020 will be the year of its death.
Very high Drawdowns
The drawdowns charts proved us, the robot as far it works as much it becomes the scam.
Low level of Transparency
As we told, there’s no info about strategies, as well as, patterns applied to the robot. FxShooter is just another act in the bag.
On myfxbook site is enough of data, but sometimes it gives us more questions than answers
The robot doesn’t trade at weekends and almost not trade on Monday. It’s a kind of 4-day-work trading robot.
The same is for hours of trading activities. It works only between 9 p.m. and 1 a.m.
Conclusion: To Trust or Not to Trust?
Of course no. The FxShooter’s seller gave us no reason to trust. Week trading results, high drawdowns, very strange lowing of trading results after August 2019, and as a cherry on the top, strange hourly and daily activities.