Forex.ninja is the website of a Forex robot developer called Eryk Skorzynski.
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The salespage claims that Forex Ninja robot has gone through a rigorous 10 year back-testing.
There is no specific price for the Forex.Ninja bot since users must first select the amount of money they wish to trade with before price can be calculated.
The base price is $39 for those who want to start trading with $300. The price keeps increasing with deposit amount.
It is better to choose a reliable Forex robot with a one-time payment rather than keep spending on an EA with every 30 days of use.
Eryk is charging monthly fees for traders to keep using his Forex robot which makes the developer come across as too greedy.
Apart from this, the website promises to give traders access to an “active discussion group by Forex experts”, daily market information and a pack of set files for 24 currency pairs.
There is no background information about this developer anywhere on the internet because he is a brand-new vendor to the Forex robot development industry.
Because this is the situation at hand, we will let you know whether the Forex.ninja bot is reliable or not.
Is Forex Ninja Robot legit?
Many traders and Forex robot users would believe this vendor by simply staring at the aesthetic beauty of the Forex Ninja website.
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He seems to be leveraging on aesthetics to distract buyers and prevent them from asking about the strategy of the EA or past performance for that matter.
While this is the case, we were still able to find a myfxbook account associated with this EA.
This account is registered as Forex Ninja Levels™ and trading is done through ICMarkets broker.
They’ve provided us with 5 months of trading results.
Currently, gains are standing at +71.45% but absolute gain is just +49.63%.
These metrics should essentially be the same in the event that the developer is not crediting the account with his own money from time to time.
Many vendors have used this trick to manipulate trading results with the intention of cheating buyers.
In terms of monthly gains, we are seeing 9.72% while drawdown is 29.80%.
While Eryk has done a good job in making sure they have a live trading account with IC markets which this robot is actively trading, we are not pleased with the fact that he has restricted access to lots of information on his myfxbook account.
When you see a padlock sign next to a trader’s balance, equity, deposit, withdrawal and so on, it means they aren’t comfortable revealing this information.
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We personally don’t consider it discrete information because this is a test account meant for the purposes of demonstrating how effective the Forex Ninja robot is.
However, based on the little information they’ve provided, we can conclude that drawdown of this robot is still very high.
On the other hand, a 9% monthly return looks okay.
We are just interested in knowing the strategy of this EA.
We already got some hints that this EA is potentially a scalper since average win is just 7.03 pips while average loss is -22.84 pips.
This tells us that this robot places tight stops in most of its trades, which is typical of a scalper.
Overall, we see that results have been stable from March all through to September of 2020.
We feel that it is a bit early to make conclusions on what this robot can do and what it can’t do.
Results are promising. However, we would urge traders to wait until we are sure that this performance is sustainable.
We also invite you to comment on this Forex Ninja EA review if you already have an experience with the product.