The entities behind the Volvox Trader expert advisor have touted it as the world’s self-adjusting forex robot, capable of adjusting itself to trade any market conditions available. In other words, the team behind the Volvox Trader EA acknowledge the fact that the FX market is indeed very dynamic and that most expert advisors are therefore unable to continue replicating any stellar results achieved in the past. However, we need to know if this is all talk, or whether there are performance data that support this very bold claim.
Volvox Trader: To Trust or Not to Trust?
The key question is whether the Volvox Trader robot is an EA to trust or not to trust. In an attempt to look through the past performance of this robot, we hit several brick walls, one of which was the lack of any trading data on Myfxbook. FXBlue is the only site that seems to have anything on the Volvox Trader that resembles trading performance. However, the analytics presented are pretty scanty. So we combined this with any other evidence out there to prove or disprove the “not to trust” notion.
After a thorough review of this software, we have opted to give this software a cautious pass mark. In other words, the Volvox Trader EA can be used, but plenty of caution must be displayed by the trader, and vigilance is required.
Here are some reasons why we think that Volvox Trader should be cautiously trusted.
- Generally good results over 40 weeks of trading
- Lack of Transparency on Ownership
- One unsatisfied customer
These points are examined one after the other.
Averagely Good Results Over 40 weeks
The statement from FXBlue shows the trade data over 40 weeks of trading by Volvox Trader. This is all captured in this snapshot:
We can see that the blue bars on the right show the profitability of the Volvox Trader EA over time, while the red bars show the losing periods. Generally speaking, Volvox Trader has had longer periods of weekly profitability, which is considered an acceptable result.
However, some questions continue to linger. The Volvox Trader EA is essentially a scalper which takes an average of 13 trades per day. It is not known if the Volvox Trader was responsible for closing out the trades that it initiated. A lot of times, we see scalper EAs initiate trades, but with no stop losses, leaving the control of the exits in the hands of the trader. This is one piece of the puzzle that a Myfxbook analytics report would have provided. But without this, the puzzle remains.
Lack of Transparency
This is not really grounds for distrusting an EA. If a forex EA is performing well, traders would really not care about who designed the software. Such issues only come up when results are poor. However, it would still do a lot of good to the image of the Volvox Trader if the sales page could be made to show the full details of who the creators of this software are.
Without this information, there is always the temptation for this software to be lumped into the same bucket as the other bad EAs whose ownership is a mystery.
An Unsatisfied Customer
After an extensive search, we were able to find at least one review from a verified user of the Volvox Trader robot, and this user did not have nice things to say about the robot. Who can blame this user? No one wants to cough out close to $200 for a non-performing product with no chance of a refund.
Unfortunately, unlike other vendors that at least try to respond to some allegations on Forexpeacearmy, the vendors of Volvox Trader decided to maintain deafening silence, which does not do the reputation of their product any good.
Conclusion: To Trust or Not to Trust?
Volvox Trader may have shown itself to be profitable over time, but there are some aspects of its operations that would need more clarification and transparency. We would need to see more performance data as well to really unravel the workings of this EA. Until then, we can say that the EA can be cautiously trusted, until its profitable performances can be disproved.