Reaper Forex Robot is an EA that was allegedly designed by expert Forex traders in the market. The company market itself as a software that is popular in the market loved by traders and despised by brokers. However, the platform is not legit and has acquired a lot of negative reviews.
The platform claims that brokers cannot manipulate it. It will only work in favor of traders. Reaper Forex Robot is automated software, and investors do not require to execute trades manually.
The system will trade both at day and during the night. It never rests or stops and will trade during the week. Additionally, the platform brags that it designed from robotic bloodlines. Despite the company allegation of being popular among traders and having thousands of users, the traffic that is coming on their website is not much.
Since inception, binary trading has become one of the best trading routes for investors. You need to find out which are the best binary trading robots to go for.
How do experts choose the autopilot robots?
The best automated trading robot has to show accuracy when it comes to performance and trading results.
With the recommended trading robots, tests were conducted and the results favored the highlighted robots.
These robots did hit a target of over 80 percent in ROI and have been doing so consistently meaning the robots are effective.
Traders will prefer a dependable robot that doesn’t lag or face any issues during live trading sessions.
These experts tested the resolve of these robots in placing multiple bets and the resounding performance ensured the robots got the thumbs up.
By processing immense amount of market information, users get a more accurate setting of the market prices and product status. The bots identity market conditions such as volatility and help traders make informed decisions.
One of the key benefits of using automated bots is time. The trading process is completely automated thus making it hands-free. You can also set your preferred parameters before moving on. Traders don’t have to constantly conduct market analysis.
Traders can run multiple accounts using robots and thus, increase the trader’s portfolio diversification. You get to run multiple accounts and strategies and benefiting from robots that do all the heavy lifting.
Manual trading creates a lot of errors especially those related to currency pairs, execution price, and position size. Algorithmic trading helps keep such issues out of bay as the bot have a more accurate sense of taste for the market.
Bots help identify optimal market entry and exit points. It takes into consideration account liquidity levels not forgetting market volatility. These bots ensure brokerage fees are minimal and bring in maximum profitability.
The platform states that they have all currency pairs at the disposal of investors. It is up to you to choose what suits your needs. The trading software claim that it adapts automatically to clients' fly.
Moreover, it will only consume less than 5 minutes of your time. You will install and that all. The company is only bragging of its excellent performance, which they cannot verify. Reaper Forex Robot claims that there are specific areas in the Forex chart that will only give profits.
The software claims that it knows the breakthrough in the market. The software exercises patience by waiting for the prices to breakout before executing the orders. The trading software will automatically lock your returns and manage investors' stop levels.
The company believes that their prices keep changing. The system will automatically stop trading; hence investors cannot make losses. The company claim that their prices are favorable but will eventually increase as time goes by.
The founder of the software is anonymous. However, they proclaim that their trading bot is the next big thing in the industry. It will transform your trading journey. Unfortunately, the system does not have a trading history.
We do not recommend their services to clients. Transparency is everything, and when a company is not operating clearly, it would be best to use legit reputable Forex trading software in the market.
The platform has had several owners, but the initial founder was the late Don Steinitz. It has a new owner who is operating discreetly. However, some red flags show that the people behind the company are not traders. The company is being managed by marketers rather than expert traders.
How Does Reaper Forex Robot Operate?
The company is operating in a mode that is only used by Ponzi schemes in the market. The Ponzi scheme assures traders that they will only work in favor of their clients. Their allegations of protecting investors against manipulative brokers are only brought up by scammers.
You should not be confused with the information that the company presents to you. There are legit transparent brokers in the industry. The info that Reaper Forex Robot present is misleading. The company does not avail of enough details regarding their services.
All we know is that it claims to exploit the breakouts opportunities in the market. The robot will cost you $99. The strategy that the suspicious platform allegedly incorporates is the support and resistance method. The times it takes to execute the whole process is not disclosed.
After seeing the advantages that the suspicious Forex software is boasting of you might wonder what is their trading performance. Reaper Forex Robot is a company that is not transparent; instead of using MyFXbook, they are using an old school method.
The platform has presented a trading statement that can easily be manipulated. The company could project what they want investors to see it would be best if they showcased their performance in a modern method.
Currency Pair available
The currency pair that the company avail is; USDCAD, CADCHF, EURUSD, GBPCAD, EURGBP, EURAUD, SGDJPY, AUDCHF, NZDJPY, NZDUSD, EURSGD, GBPNZD, CHFJPY, GBPAUD among other pairs. The platform is bragging that they have a large number of currency at the disposal of their clients. The majority of investors might view it as an advantage, while others might not. It all depends on your perspective.
Customer Support
To contact the support of the company, you will have to open a ticket with forexrobottrader.kayako.com. It would have been great if the company availed an email or telephone number for ease of communication.
The company does not discuss its regulation status. Upon vising their website, we did not encounter any license; hence the platform is operating illegally. The United States, UK, and other superpower countries have stringent measures when it comes to investment.
Reaper Forex Robot is operating in a shady manner, and when we checked on the database of FCA, NFA, CySEC, and ASIC, the company is not featured in the list of licensed firms. It would be best if you did not trade with unregulated platforms. If the Forex trading were severe, it would acquire the right documentation.
Investors Testimonials
Reaper Forex Robot features testimonials on their website. Of course, they cannot post negative display reviews. The alleged investors are praising the platform for its best services. It will only trade at only a favorable moment in the market.
The reviewers also claim that they can now trade like expert traders without losing funds. The users also state that they have been able to gain by using the system. The company allegedly has unique features.
Unfortunately, we cannot see the social media profile of the people who have left the reviews behind. There is also no payment evidence. It is highly likely that the company has left the testimonials themselves or paid people to do their dirty bidding for them.
However, the feedback that we got from their clients is nothing similar to what the company claims. Investors are not satisfied with the services of Reaper Forex Robot. The platform does not include a swap charge on their website. Clients are only experiencing losses after using the software.
When many investors leave behind negative reviews, the platform does not respond to their clients' queries. A company that does not care about their customers is a bad venture. The trading software is a waste of time, and you will regret purchasing it.
The Domain Insight
The company has been in the market since June 2007, and the domain will expire in 2015. It seems they have no intention of exiting the industry anytime soon. The majority of their clients come from the USA, Nigeria, and India. The total global ranking of the company is 97,705.
Final Verdict
Reaper Forex Robot is a company that is operating at a slow speed. Additionally, they lack trading history, and without tangible evidence, we cannot recommend the platform to traders. The company has multiple negative reviews from investors.
Additionally, they are unethical as they do not respond to their clients. The company lack concrete evidence that investors can use to confirm that it is indeed involved in trading.
Do not waste time with the platform. It is better to invest with legit Forex brokerage software that will ensure you earn reasonable returns. Such companies will avail all the information that you need before spending.
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