We’re taking a look a Forex trading robot with many different names, i.e AutoForexTrader, Automated Forex Trader robot or AFT expert advisor. The developer’s site is automatedforextrader.net.
The developer tells us that they designed AFT expert advisor to speculate on the decline after a large market growth and change in the trend.
They also want traders to know that Automated Forex Trader robot does the opposite by speculating market growth after large decline and change in trend.
However, developer does not say what trading strategy is used to determine that trends have been exhausted. We also have no idea what criteria they’re using to determine entries and exits in the algorithm of the Automated Forex Trader EA.
On top of that, the developer does not disclose their physical address but according to who.is, the domain was created back in 2014 by a registrar entity known as GRANSY S.R.O D/B/A SUBREG.CZ.
The developer maintains this Facebook page. The last update on this page was done in 2016.
If you’re here searching for the best Forex robots with proper explanations of the strategies behind them, please take a look at these automated trading tools.
Automated Forex Trader Robot (AFT)review
AutoForexTrader EA has been allegedly in development since 2007. This information from the website cannot be verified although the developer is insisting that they started creating this automated Forex robot back then while keeping in mind that markets can dramatically change. So the algorithm will anticipate this change.
On top of this, the creators of Automated Forex Trader EA want the trading community to believe that this robot produces consistent returns.
This has been demonstrated on the company’s myfxbook account although there are some questions about this account,which the developer has not addressed.
We have reviewed many Forex robots here and this is one of the biggest challenges when writing a review. The problem that I found with AFT Forex robot is similar to that which we discussed previously in the Dragon Expert EA review.
While the website is trying very much to give enough information about their Forex robot, Automated Forex Trader, the developer appears to be struggling to put together proper English sentences. This makes it quite difficult for their explanation to come out clearly.
They tell us that Automated Forex Trader has over 1000 subscribers and uses sophisticated money management strategies.
They want traders to believe that this is the best automated trading strategy because it is 100% Forex-verified. This statement does not make sense especially when they say their EA is 100% Forex-verified.
I don’t know what was the aim of writing such statements which don’t convey any meaning or play a useful role in describing the way this Forex robot works.
AutoForexTrader review: The trading strategy
No proper explanation has been provided by this developer regarding the trading strategy of their EA. The only explanation we can find is that this robot speculates when trends are about to be exhausted so it can take advantage of the change in direction of the market.
It leaves us with the question of how exactly this conclusion is made. The developer should have provided a proper explanation telling us how these speculations are done.
We’ve noticed this weakness in how they describe the algorithm under the hood of this expert advisor. They claim the actions of Automated Forex Trader are simple but many complex things happen in the algorithm.
I treat these statements as fluff because it’s obvious that all automated trading robots work this way. There’s no value addition in this statement at all.
Breakdown of the features of AFT expert advisor
Based on the vague statements provided on the developer’s site, I’ll assume that this Forex robot tries to catch trend formations.
There are 5 licenses plus a free 30 day trial. Keep in mind that VPS is charged separately and the cost depends on the duration for which a trader is subscribed.
Monthly license costs 73€. If you’re using the monthly license plus VPS, you’ll folk out 83€ each month to keep using the AFT EA.
And then there’s the 3 month license which costs 199€ but if this is inconvenient, one can still opt for the annual plan or lifetime license. The annual license costs 519€ while the lifetime license costs 1110€.
VPS subscription will cost anywhere between 30 Euros and 269 Euros respectively. For deposits of 10,000 euros, one is entitled to enjoy access to free VPS.
Of course it can trade all currency pairs but we saw one back test that was focused on the EURUSD. The developer is trying to demonstrate how this trading robot works in a 2 minute video.
Backtests with other currency pairs can be found on their YouTube channel.
Trading performance of the Automated Forex Trader EA
They opened a live Forex account with InstaFX broker, deposited at least $4,000 and started trading with this expert advisor. Take note that this myfxbook account is under the name of AOS Bratislava.
I have no idea whether this myfxbook account belongs to them. I’ve seen cases where people use myfxbook accounts of other traders. A good example is a managed Forex account provider called Forex92.com.
Average monthly returns is 2.54% and draw down is 46%. With these returns, it would mean starting with a bigger account balance (probably $10,000 or more) in order to cover the subscription cost of this EA.
Also, the huge draw down is a point of concern. Usually draw down of less that 20% is ideal.
Now, when I look at this myfxbook account, I realized that the account is no longer active. Trading stopped in April 2017 but screenshots of trading performance which are provided by the developer suggest that trading is still going on in 2019.
These contradicting reports are a red flag. The developer could have stopped trading this real account with their expert advisor because they didn’t want to risk more after the huge draw down.
I’m thinking that immediately they recovered from the draw down, they stopped trading altogether. Therefore, some of those screenshots have been photo-shopped to reflect latest trading results.
AFT expert advisor or Auto Forex Trader EA has no reviews or feedback on the internet. It is strange that a Forex robot that was created a couple of years ago never attracted any clients or reviews for that matter.
For now, I will not recommend AutoForexTrader until the developer sorts out a few problems first. We need an explanation of why their myfxbook account is dormant and secondly, if draw down is that big, we must be afraid that we will spent much time trying to recover from draw down as opposed to making money.
I would also like to see more transparency and a proper explanation of the trading strategy behind Automated Forex Trader.
Thanks for reading the Automated Forex Trader review.