Welcome to the Ala Forex Robot review. The name of this Forex robot sounds more of Islamic than what you’d expect a vendor to call a trading system.
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The service was launched in February 2020 on the website whose domain can be found at alaforexrobot.com.
It’s 100% automatic and depends on the “magic of mathematics to place and exit trades.”
The vendor advises that standard MT4 account users should start with a minimum deposit of $5,000.
Ala Forex Robot’s expected monthly return is between 10% to 40%.
At the same time, this vendor proclaims that Ala Forex Robot netted over 14,970 pips in 2019.
It’s not clear how they were able to achieve these results when their website was just created the other day.
Right now the vendor is telling us that with Ala Forex robot, traders can join the “Winners Club”.
If these statements hold any water, we will be able to know in our review because we’re ready to go into details.
In the meantime, we’re recommending these Forex trading systems because the community has never been disappointed with them.
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Ala Forex robot review
The vendor is not known just yet because there’s no about us page.
In addition to this, we have no idea where this developer is selling his EA from.
The website only provides a couple of backtests and claim that they can generate truly elite performance.
Ala Forex robot trading strategy has allegedly been tested by the vendor for several years.
They also claim to use the power of math to watch the market day and night, analyze several FX pairs at once and manage money.
Other features that the vendor promises include worry free trading experience, quick 5 minute installation, demo and live account compatibility as well as lifetime support.
At this point, we’re interested in finding out the trading strategy used by Ala Forex robot.
Does the Forex robot use a sound trading strategy with proper risk management technique?
Ala Forex Robot review: Trading strategy
The vendor tells us that their Forex robot follows the best trend to enlarge profits while eliminating the chances of losses.
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There is no additional explanation with regards to how this trend following strategy is implemented.
We feel that this is quite shallow.
For this vendor to compete fairly with Forex robots like Arya Trader, Signal Detector 47, Forex AI Trader and many others, they should be ready to provide in-depth analysis of their trading methodology and why they believe their strategy is good.
Therefore, we feel a little disappointed that no trading methodology has been provided.
If they want us to pay for a license, they should be ready to go deeper into the process of explaining their methodology and how they control risk too.
Ala Forex Robot details
There are two licenses under which Ala Forex Robot can be obtained.
The first license is free and it is labeled “demo version”.
The second license costs $349 and it’s a one-time payment for a lifetime license.
Both licenses allow trading on multiple FX pairs and back testing.
Some sort of pre-purchase support is also provided with the demo version.
However, the demo version does not seem to have optimized default settings.
I believe you’ll have to find out this on your own.
As for the Ala Forex robot full license, we get a detailed manual, dedicated support and free lifetime updates.
We wonder whether the trading community will be comfortable with the pricing, seeing that Ala Forex robot license is much costly than a standard Forex robot.
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Ala Forex robot is supported by a couple of back tests on the homepage.
I do not want to concentrate on these because back tests generally don’t give us the exact picture of how a Forex robot will perform in the future.
For a Forex robot vendor to be taken seriously, they should consider using a statement sharing service like myfxbook.com.
With this service, they will save time and will also gain credibility.
On the other hand, a vendor who refuses to use myfxbook is basically telling you that they don’t have a profitable trading strategy yet.
We don’t think Ala Forex robot is the best Forex robot in 2020.
There’s no proof to show it. Also, the pips which they allegedly gained cannot be substantiated and we cannot rely on backtests.
In short, we’re disappointed by Ala Forex robot and its developer. We cannot recommend it just yet.
Thanks for reading our review. We would like to read your opinion in the comment section.