TraBot is a new automated trading software that is targeting investors in South Africa. This is not actually your usual expert advisor that you own a license. In this case, we are dealing with a mirror trading system that automatically copy the trades of the master expert advisor from a separate server, to your trading platform. It works exclusively on cTrader platform.
The robot was developed by Johan Uys, most probably from South Africa. No physical address was provided. For support, users should send Johan an email at: email@example.com or phone 0618685164.
Official Website: https://www.trabot.co.za/
Go through our thorough review to find out why you should refrain yourself from this platform at any cost.
TraBot is allegedly a new Forex robot. The approach which this EA is using have an air of mysteriousness surrounding them. Traders are required to sign up with ICMarkets, and then provide their account information to the vendor, so that the vendor can connect the mirror trading system to the client account.
Anyone who has previously been active in trading or investing knows that, these method is not the usual way Forex expert advisors work. However, due to the volatile Forex movements, many newbies still believe in making a fortune overnight with this EA.
The trading strategy that TraBot is using for their clients is based on trading simultaneously for added advantage. That is what we could get.
Forex trading experience huge amount of volatility on a daily basis. If anyone tries to get a piece of the action on this sector without proper preparation, then chances are you will lose your entire capital. As far as Forex trading is concerned, the information on TraBot strategy is very vague too.
For starters, we do not have a clue about their trading methodology or risk management. There are no information about the costs and specifications involved along with the potential returns. In short, investing with them is just like throwing your money away and you should never do that.
- Type: Forex Robot
- Price: $70
- Strategy: Undisclosed
- Timeframe: Undisclosed
- Pairs: EURUSD, USDJPY, GBPUSD
The cost to use TraBot is R1000 approximately $65. They require your cTrader ID and Password. TraBot wants to take full access to your account currency trading. However, they do not provide enough information about Forex trading. Worst of all, we don’t know the track record of the fund managers who will be handling the money.
If you are interested in real Forex trading robots, look here.
Because of the convoluted approach in which TraBot is working for users, we were hoping that the developer would provide evidence of live trading. But this is not the case. We have searched the entire landing page and failed to find documented proof of trading success. Instead of providing us with this data, the developer of the robot is providing us with screenshots showing this robot in action. These results are showing us performance of 5 months old.
The issue is that none of these accounts or tests can be verified, which is really a bad thing.They are all in screenshot form, so they can easily be manipulated by the vendor to show us whatever he wants to show us. Don’t you think so?
The vendor needs to provide us with a verified Myfxbook account that supports their profit claims. It’s really quite insane that he’s trying to control account for something that he hasn’t proven works. There needs to be a much higher level of transparency here.
Our best advise for you
Having said this, we think the owner of this expert advisor needs to work hard to convince us because under the current conditions, we cannot trust their product at all. It’s simply too difficult to surrender our password and ID under the current conditions. There is too much mystery and potential deception for us or anyone else to be confident in giving this service a go ahead order.
Review Verdict : TraBot is a Scam
Also Avoid Forex Pip Shooter
DaxRobot offers a range of trading bots through its service, with new coming online all the time. Each bot is listed according to profit, with the current profit percentage of the top ten bots ranging from 97% upwards. Minimum deposit is $500. You can try free demo at daxrobot.com
The TraBot has failed quality test based on the issues and concerns that we have raised above. If you really want a Forex robot, this is not the best Forex robot to go for unless you obviously want to throw away your money. You should only use quality robots.