I am reviewing a Forex robot developer who claims to have the right skill-set for teaching traders how to create Forex robots with robust trading strategies based on historical market data, broker data and back tests. The developer in question is called Forex Robot Academy, also known as Forex Robot Factory. So in this Forex Robot Academy review, I will focus on the details that are making Forex Robot Factory developers to believe they are the best.
Welcome to the Forex Robot Academy Review
Forex Robot Academy claims that students don’t need any sort of coding knowledge to be successful in this Forex robot creation process. I also do not know why they decided to switch from Forex Robot Academy to Forex Robot Factory. However, the domain of the site (forexrobotacademy.com) remains the same.
While this developer is implying that they are transparent with some of their critical details like ownership and success record, many dots have not been connected together. For example, they say that Forex Robot Academy/factory is the property of autotradingalchemy.com.
I have looked at the site Auto Trading Alchemy and found no reference to Forex Robot Factory anywhere. But according to the testimonials which this developer is displaying on their site, Forex Robot Academy is managed and operated by two people called Rimantas & Justin.
So I can say that this developer doesn’t provide us with details of who they are or where they are operating out of.
However, I came across some information on the internet claiming that Forex Robot Factory was associated with a well-known developer called Rimantus Petrauskas. In some forum thread, I discovered that this developer was going by the name Popov from Bulgaria. So my wild guess is that Forex Robot Academy is possibly based out of Bulgaria.
Forex Robot Academy Review – why the name change?
I wanted to know why they changed to Forex Robot Factory. Usually, a developer will do so when they have bad reviews (such as Euro Scalper Pro developer) and want to clean up their names. But this does not seem to be the case with this developer.
Forex Robot Factory Review – the product offering
Teaching students how to automate their trading using robots is the main aim. The website claims to provide strategy programing, back testing, optimizing and stress-testing.
The sales page reassures us that Forex Robot Academy has taught over 2k students in some 100 countries.
While this site makes it easy to believe that creating a successful Forex robot is a walk in the park and traders can attempt to do so without any coding knowledge, I strongly disagree with this marketing proclamation. Even if you have coding knowledge, you wouldn’t be successful in creating a profitable trading robot if you were not a successful trader already.
You have to imagine, test and prove that your strategy is working before programming it into a robot.
Forex Robot Academy Review – the prices
There is a license for 1 year and a lifetime license that cost between €990 – €3000. This type of product is known as Forex robot development education. When you pay the cost of a license, you get membership access, robots and consultation.
From what you can see, accessing the learning material at Forex robot academy isn’t cheap at all. Besides costing you time, it will cost you up to €3000, and if things fail, you won’t like it.
By the way, one could purchase a 1 year license for €990 or full membership for €1497. However, lifetime access will cost €3000.
Signing up for lifetime access comes with video training, Forex strategy builder pro and some bonuses. My advice is that even before you can think of getting money out of your pocket to fund this course, please utilize the 15 day trial properly.
Forex Robot Academy Review -myfxbook performance
The sales page is displaying a couple of myfxbook results in form of screenshots. They claim that strategies have been tested by students over and over again and found to be successful.
However, on close inspection, I realize that all of these trading accounts stopped activity over 10 months ago.
The other problem that I am experiencing with these trading results is that the developer is not providing us with a way to verify the numbers or at least access these accounts.
There is always the possibility of this developer taking screenshots of myfxbook accounts belonging to other people in at attempt to pass them off as their client’s myfxbook accounts.
Forex Robot Academy Review – the conclusion
Forex Robot Factory is definitely an expensive proposition and you should never go into it based on what you see on their website. I don’t trust their supposed client testimonials and myfxbook results because of the reasons I stated above.
Thanks for reading this Forex Robot Academy review.