Forex Megadroid Review

Overview

The vendors of Forex Megadroid boast about it having one of the most impressive performances among commercial forex robots since its initial release in March of 2009 and claim that Forex Megadroid is the most consistently profitable forex trading robot around. The automated trading software incorporates the almost 40 years of combined experience trading forex for commercial banks shared between Forex Megadroid co-founders and forex veterans Albert Perrie and John Grace.

One of the most interesting features about Forex Megadroid involves its Reverse Correlated Time and Price Analysis or RCTPA artificial intelligence technology which seems to represent a significant evolution in forex trading robot software. The winning combination of this technological advancement with Albert and John’s forex trading backgrounds has produced good results for its users, largely because the software can adapt its trading strategy to a variety of market conditions.

When it comes to getting Forex Megadroid running, its vendors have fortunately kept the five-step process relatively painless.  The software’s vendor even makes a five-minute installation guarantee to assure customers they will get started quickly with the software.

To operate Forex Megadroid, you will just need a computer with a recent Windows version and an Internet connection and to follow a few straightforward instructions to download, install and run it. Forex Megadroid functions as an Expert Advisor or EA within the MetaTrader 4 trading platform that is readily available as a free download from its developer’s website. 

In terms of performance, Forex Megadroid has a rather good track record of independent testing at the Forex Peace Army site which tests EAs. In their demo-trading trial using Alpari as the forex broker, the robot profited from over 90% of trades made and built up an annualized trading profit of almost 40% during 15 weeks of testing using a risk level setting of 0.05. 

Those numbers might not seem that impressive after reading the ridiculously high profitability claims made by the software vendor on its over-hyped and exhaustingly-long sales website. Nevertheless, this testing data indicates that a considerably better return can be obtained from using the Forex Megadroid robot versus putting your money on deposit with a bank. Of course, you have to be willing to take on the risks and costs involved with forex trading to get that return.

Furthermore, customers who purchased Forex Megadroid and left comments at ForexPeaceArmy’s website gave the trading robot software more than 3.2 stars on average among over 100 reviews. Many users reported being very pleased with the robot’s performance and its high percentage of winning trades.

Additional information has been included below about Forex Megadroid that comes from various Internet resources which may include the vendor’s website.

Facts About Forex Megadroid

Product Type: Automated forex trading system in the form of an MT4 EA.
Vendor Site: www.forex-megadroid.com
Cost: $149
Guarantee: 8-week, no-risk, 100% money-back guarantee.
Payments and Refunds: Made via Clickbank.

What You Get With the Forex Megadroid Automated Trading System

• Educational Material consisting of:
• • 78-page manual with step-by-step instructions.
  • The currency pair and brokers the robot is best used with.
  • Unique license key for the robot.
  • Software support via telephone.

• One MetaTrader 4 expert advisor:
• • A scalping EA that only trades the EUR/USD currency pair.
  • Uses a one hour time frame.
  • Enters stop loss orders to limit risk.

Forex Megadroid Trading Robot Characteristics

• Only trades EUR/USD
• Recommended for non-NFA brokers that support MT4.
• Focuses on scalping to make small profits in two to four hours.
• Runs on the MetaTrader 4 platform.

Pros and Cons of Forex Megadroid

Pros:

• Includes an informative guide to help with setup and operation.
• Downloadable software installs in under five minutes.
• Robot makes objective decisions and trades automatically.
• MetaTrader 4 compatible software.
• Allows the user to change risk parameters.
• Popular robot that has good online support from other users.
• Takes a high percentage of profitable trades.
• VPS hosting service can be used to assure 24-hr robot up-time.
• Adjusts to different market conditions.
• Ongoing software updates.

Cons:

• System’s profitability is somewhat limited by short-term focus.
• Only trades in the EUR/USD currency pair.
• Small take-profit, high stop-loss.
• Robot does not trade very often.

Conclusion

Overall, Forex Megadroid has one of the best user records around among the fully-automated forex trading robots available commercially and has even been endorsed by other forex robot vendors. The software also demonstrates decent returns with maximum portfolio draw downs in independent testing that should be acceptable to most traders.

Although some users expressed issues about the robot not trading very often, as long as a trader does not want a robot that trades frequently, Forex Megadroid should suit traders of just about any experience level.  Most users report that the Expert Advisor installs quickly and painlessly into their existing MetaTrader 4 installation.

Furthermore, users of this automatic forex trading robot generally seemed to feel that Forex Megadroid compared very well to other trading robots on the market in terms of functionality and performance. It also has a reasonable price tag of just $149, and the software’s customer support service has a better reputation than some other forex robots.

Of course, other peoples’ positive experiences with Forex Megadroid are no substitute for your own, so you can test out the software yourself by taking advantage of the risk-free trial of the software offered by its vendors. Make sure you take the time to back-test and demo trade any automated trading system, including Forex Megadroid, soon after purchase to make sure you are satisfied with its performance.

Visit the official Forex Megadroid website for more info.