FXRobot MT4 EA

FXRobot MT4 EA

Key Features of FXRobot EA
Algorithmic Trading: The FXRobot EA core is built on algorithms that open 1-2 orders based on market signals and aim to close them profitably.
Order Management: If orders fail to meet profit goals promptly, the system activates a strategy to find an exit, potentially closing orders at a small profit, a minor loss, or breakeven.
Risk Management: In scenarios where orders remain open for an extended period, the support algorithm is activated. This feature is designed to expedite closing orders in profit and prevent minor drawdowns from lingering.
Drawdown Control: This MT4 EA FREE has a significant advantage over its competitors due to its advanced drawdown control system. It calculates StopLoss for all orders, ensuring the drawdown does not exceed a specified level. This system is touted as safer and more reliable than manual market closings.
Multi-Currency Operation: Programmed to work with four currency pairs – USDCAD, EURGBP, GBPUSD, and EURUSD – FXRobot EA is versatile and can be optimized for any currency pair.
Concerns and Risks
Despite the developers’ claims of low risk and advanced features, the trading community is skeptical, especially regarding the drawdown talks. The support algorithm, believed to be a form of martingale strategy (a system of increasing stakes after a losing bet), raises concerns. This strategy can potentially lead to significant financial risk if not managed properly. Therefore, the claims of low drawdown and low risk might be misleading.

Martingale strategies, while popular, carry inherent risks. They require an increase in investment after losses, potentially leading to substantial drawdowns. The “watered-down” explanation of this EA in the developer description might be a tactic to make this MT4 EA FREE appear less risky than it is.

MT4 EA FREE Recommendations
Minimum Account Balance depends on the currency pair.
USDCAD – $300
EURGBP – $530
GBPUSD – $470
EURUSD – $750
Work Best on USDCAD, EURGBP, GBPUSD, and EURUSD(Work on any currency pair)
Work the same on all TimeFrames.
MT4 EA FREE should work on VPS without interruption to reach stable results. So we recommend running this FREE MT4 Robot on a reliable VPS (Reliable and Trusted FOREX VPS – MyfxVPS)
The EA is NOT sensitive to spread and slippage. But We advise using a good ECN broker with a decent spread. (Find the Perfect Broker For You Here)

Conclusion
The FXRobot EA offers a range of features that could be attractive to Forex traders, such as algorithmic trading and advanced drawdown control. However, potential users should exercise caution, especially considering the possible use of martingale strategies under the guise of the support algorithm. Traders are advised to understand the risks fully and use this MT4 EA FREE at their own risk, as significant drawdowns are possible with such systems.