The most heavily promoted Forex trading robots online are - FAP turbo and Forex Megadroid which both promise users, huge gains with low risk but which is the best currency trading robot of all? Let's look at these automatic Forex trading software packages in More detail...

Forex Megadriod

The developers of this robot are Albert Perrie and Jon Grace and there is a video where the two of them talk about trading which is quite frankly laughable. Anyone who has traded Forex would not see these guys as traders and if I was being critical, I would say they were web actors ( which many robots employ) as the conversation is stilted and it looks like there always looking for the script. I have never heard of either of these guys but lets for now assume their real traders and look at the claims.

95.82% Accuracy and 3,1344.88% Growth in 614 Days

This track record would beat every top trader in the world based upon growth to draw down and the secret of their success?

They claim its the advanced artificial intelligence Reverse Correlated Time And Price Analysis (RCPTA) which can predict the market in advance! This is a ludicrous claim.

One of the biggest breakthroughs in artificial intelligence took place recently at the University of California where they managed to get a robot to fold a towel so have these guys really got a model that can predict the market of course they haven't its nice sales copy but a long way from reality and as everyone knows humans are not predictable.

The Track Record

The track record is impressive until you realize its not real money at all simply a back tested simulation and of course this is easy and is no indication of the money you will make in real time trading here is the disclaimer:

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN

Conclusion

Forex Megardroid has fantastic copy but a look behind the copy shows claims that dont add up and no real time audited track record.

FAP Turbo

this is probably the most popular Forex trading robot of all and the one which leads the pack in terms of sales online but is it a good one and does it make money. The system is supposed to be a better version of Forex Autopilot which was developed by Marcus Leary who was exposed as a web actor which is some reason for concern about the product as he is linked to this one too.

The Developers

The robot is supposedly the work of the mysterious Mike, Ulrich and Steve who laughably have their faces disguised in their photos, the reason given is due to severe harassment from competitors which seems an odd reason, maybe there is another one you may have guessed!

The Track Record - $5,100 to $42,500 in just 1 Year

Lots of account statements and lots of profits in what is claimed as real time trading but no audit of results. The statements do not carry the brokers name and you need to trust the vendor word the results are true and if they are the results in terms of growth rate to drawdown would be astounding but a quick look around the forums sees investors losing money with FAP Turbo, as well as those winning and many of the winners are selling the product as affiliates which begs the question – if your making so much money, why are you making such an effort to sell it for a small rebate commission?

Conclusion

This robot still uses the name Marcus Leary as the the person who appointed Steve Mike and Ulrich to make a better version of his system and we know he doesn't exist so that dents the confidence a bit and so does the fact the track record is not audited and the number of people in forums claiming their not making money.

Forex Megadriod v FAP Turbo

As you can gather I would have reservations about both systems which claim better gains with less draw down than many of the world's top traders on millions or hundreds of millions in terms of salaries per annum. The fact is for the cost of a night out you don't get such great growth rates and so little draw down and until I see an audited track record, I would be unconvinced. In conclusion, I wouldn't trust either Forex robot with my money – Iove the sale copy though.