Forex EA Review

Forex RobinVOL Robot Review – Stealing From The Rich, Giving To The Poor?

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The foreign exchange (forex) market is the largest and most liquid financial market in the world. With over $6.6 trillion in average daily trading volume, it dwarfs the stock and futures markets. This immense size also brings immense potential rewards, but navigating the complexities of forex trading is daunting for most beginners. This is where forex trading robots like RobinVOL promise to step in, claiming to automatically trade on your behalf using advanced algorithms. But does RobinVOL deliver on its promises or is it just dressed-up snake oil? This comprehensive review will uncover everything you need to know about the RobinVOL forex robot.

Overview of RobinVOL

RobinVOL is an automated forex trading robot created by a team of developers led by Robert Hunt. It runs on the MetaTrader 4 trading platform and is designed to automatically execute trades based on its built-in trading strategies and algorithms.

Key features include:

  • Fully automated trading 24/5 without manual intervention
  • Uses algorithmic trading technology and strategies
  • Trades based on price action and technical indicators
  • Suitable for trading all major and minor currency pairs
  • Customizable settings and risk management options
  • Cloud-based robot hosted on MetaTrader servers
  • Backtesting reports showing 95%+ winning trades

How it works:

RobinVOL is cloud-based software that connects to your chosen broker via API. It analyzes the markets using its algorithmic models, generates signals, and automatically places buy and sell orders to execute trades. You can customize settings like trade sizes and stop losses, but the software handles entering and exiting trades on complete autopilot.

Cost:

RobinVOL is advertised as free software. But to use it, you need to open a trading account with one of its recommended brokers which have minimum deposit requirements of $200 to $500.

Assessing the Technology Behind RobinVOL

RobinVOL makes big claims about its trading technology and performance. But does it have the goods to back up the hype? Let’s analyze the key components behind the robot:

Trading Algorithms and Strategies

RobinVOL claims to use an artificial intelligence-powered algorithm that can predict future price movements in currency pairs. However, no concrete details are provided on how the algorithm works, what input factors it analyzes, and how it generates trade signals.

Without transparency on the algorithm’s logic, it’s impossible to independently evaluate its efficacy and potential weaknesses. This lack of information is the first red flag.

Backtesting and Historical Performance

According to RobinVOL, backtesting results show it achieved over 95% winning trades historically. However, no proof of these results are provided.

There are also no third-party verification or audits of the backtest methodology and results. So there is no way to verify the backtesting was performed properly without curve fitting or hindsight bias. The lack of transparent backtesting documentation raises suspicions.

Demo Trading Account

RobinVOL does not offer a demo trading account. The lack of a demo eliminates the ability to evaluate its live trading performance before risking real capital. Most legitimate robot developers allow demo testing.

Independent Third Party Auditing

There are no reports of RobinVOL’s trading system being audited by an objective third party agency. Independent audits can evaluate trading robots for effectiveness, proper functionality, and absence of errors. Without audits, traders must take the vendor’s word at face value.

Who Created RobinVOL? Can You Trust the Company?

According to the sales page, RobinVOL was developed by “Robert Hunt” and “his friend Richard.” There are several alarming issues with the creators and company behind the robot:

  • No verifiable credentials – No biographies or credentials are provided to validate the experience of the developers. Robert Hunt appears to be a fictitious character.
  • No company information – Searching for the company name yields no registration or incorporation records.
  • No contact information – No address, phone number, or email is provided, only a web contact form. This lack of transparency is unusual.
  • Fake testimonials – The positive testimonials appear fabricated. The reviewers’ profiles lack authenticity and were likely created just to promote RobinVOL.
  • Affiliate marketing – RobinVOL is heavily promoted by affiliate marketers who earn commissions for referrals. Affiliate salespeople are inherently biased.
  • Hidden broker feesRobinVOL only works with certain brokers that charge fees, commissions, and wide spreads which are not disclosed.
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Overall, the lack of legitimacy of the company and developers behind RobinVOL is very concerning. There are no real people willing to stand behind the robot or provide trustworthy information on how it works.

Depositing Money and Account Setup

As mentioned earlier, RobinVOL is not actually free software. To use RobinVOL, you must fund a new trading account with one of the brokerage firms they recommend like FXChoice, Windsor Brokers, or Finpro Trading.

The minimum deposit amount ranges from $200 to $500 depending on the broker. Thedeposit must be made via credit card or bank wire transfer.

Once deposited, you can configure RobinVOL settings like trade size, assets to trade, risk management, and strategy options. Then you keep the robot running to automatically execute trades.

However, handing control of your funded account to an automated black-box system like RobinVOL is an enormous risk. Their brokers also appear to have suspect reputations, poor reviews, and complaints of withdrawal problems from customers.

The Hidden Costs of Using RobinVOL

While RobinVOL does not have an upfront license fee, its brokers charge hefty fees that essentially compensate the robot creators. These hidden costs include:

Considering these numerous fees, your real cost of using RobinVOL could be hundreds if not thousands of dollars annually. Always read brokers’ full fee schedules before depositing any money.

Promises vs Reality – Analyzing RobinVOL’s Claimed Benefits

RobinVOL makes bold claims of easy profits, convenience, and superior performance. Do these claims hold up? Let’s compare the reality to the marketing pitch:

PromisesReality
Cuts risks through diversificationNo evidence it effectively diversifies. Concentration in forex already provides diversification
Achieves 95%+ win rate for usersUnverified claim. No proof winning percentage stays consistent in live trading.
Delivers passive income hands-freeYou must actively monitor your account and risks. Automated systems still fail.
Built by trading expertsCreators have no provided track record of success in forex trading
Algorithms predict price movementsUnproven AI prediction. Markets have too many variable factors.
Free advanced softwareMust pay broker fees of $200+ to use it
Takes profit safelyNo guaranteed stops. Can still suffer large losses from volatility

Reality simply does not support RobinVOL’s bold promises of achieving high profits with little risk or effort for traders. The gap between claims and realistic capability appears very wide.

Is RobinVOL Right for Me? Who is Best Suited to Use This Robot?

RobinVOL is marketed broadly as a solution for all new and seasoned traders who want automated trading without learning technical skills. However, considering the numerous flaws and risks outlined in this review, it cannot be responsibly recommended to most traders.

The best type of user suited to try a high-risk robot like RobinVOL would be:

  • Very risk tolerant – Expect to lose the entire account balance. Avoid overoptimizing signal chasing AI systems.
  • High income to fund trading – Can afford to lose thousands without impacting livelihood.
  • Technically skilled in tradingUnderstands forex concepts well, programming, and statistics. Can detect flaws or limitations.
  • Actively manages account – Checks account at least weekly and can shut system down if problems arise.
  • Seeks entertainment – Views it as a hobby with disposable income, not source of income.
  • Uses proper risk management – Enables stops, limits, redundancy to contain damage from potential losses.

Traders who do not meet most of these criteria are likely better off learning to trade manually themselves or using a more transparent and safer robo-advisor.

Robotic Trading – Common Myths and Misconceptions

RobinVOL makes many dubious claims that feed into common myths that most traders believe about robots and automated trading systems:

Myth: Robots can outsmart human traders

Reality: Robots simply execute mathematically defined rules. Human judgement and discretion are better suited for the nuances of trading.

Myth: Experts develop successful robots

Reality: Anyone can create a robot following tutorials. Effective trading expertise is needed to avoid biases.

Myth: Backtesting guarantees future results

Reality: Backtests fail to account for changing market dynamics. Curve fitting gives false expectations.

Myth: Algorithms account for all market variables

Reality: There are too many fluid factors for algorithms to model everything accurately.

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Myth: Automated systems require less effort

Reality: You must still actively monitor performance, address issues, and manage risks.

Myth: Robots minimize emotional decisions

Reality: Robots introduced their own emotional biases during development. They cannot adapt organically like humans.

The Verdict – Is RobinVOL a Scam or Worth the Risk?

In summary, while RobinVOL is not an outright scam in that it does automate forex trades as advertised, the evidence overwhelmingly points to it essentially being a “get rich quick” scheme designed to earn affiliate profits rather than truly help traders.

Pros of RobinVOL

Cons of RobinVOL

  • No credibility or transparency of creators
  • Makes improbable claims of profitability
  • Hidden fees for affiliate profits
  • Secret algorithms have no proven accuracy
  • No independent audits or accountability
  • Traders assume all the risks
  • Better options exist for robo-trading

Overall Risk: Very High

Considering all the gaps between RobinVOL’s claims and the reality identified in this review, the risks seem to greatly outweigh any potential rewards. There are too many warning signs of systemic problems to justify the trust required to risk capital on this robot. You would essentially be gambling, rather than trading strategically.

Traders are best advised to avoid RobinVOL and learn skills to trade manually or use a more reputable automated trading service. Do thorough due diligence before ever trusting a black box system with your money.

Frequently Asked Questions About RobinVOL

Is RobinVOL free to use?

No, RobinVOL requires depositing at least $200 with one of its partner brokers who charge fees to use it. So you must pay fees indirectly.

Can RobinVOL trade cryptocurrency?

No, RobinVOL is designed only for forex currency pairs. It cannot directly trade crypto, stocks, commodities, or other assets.

Yes, automated trading robots like RobinVOL are legal. But regulations require brokers properly disclose risks to traders.

Can I test RobinVOL before buying?

Unfortunately no. RobinVOL does not offer any demo account or trial period. You can only test it with real capital.

Can I use RobinVOL with my own broker account?

No, RobinVOL requires you to open a new account with one of their recommended brokers and make a deposit.

What is the minimum deposit to use RobinVOL?

Around $200 to $500 minimum depending on the integrated broker you select to use with RobinVOL.

Concluding Thoughts – Choose Trading Services Wisely

RobinVOL markets itself as a sophisticated artificial intelligence solution that can automatically place winning trades. The reality is there is no concrete proof it can generate consistent profits or even break even. It has all the hallmarks of an affiliate marketing funnel disguised as trading software.

If something appears too good to be true in trading, it almost always is. Transparency, verification of performance claims, and a trusted developer reputation are paramount when selecting any trading service. Robots invariably have limitations compared to human adaptable intelligence.

There are some proven automated solutions like Robo-advisors that have reputable financial companies behind them. But even their returns are modest for investors. If opting to use an automated trading system, use extreme caution, start very small, and actively manage risks.

Or better yet, take the time to educate yourself on trading properly. There are no shortcuts to consistently profiting from the financial markets. With realistic expectations and the right guidance, the average trader can achieve solid returns through wise strategies and risk management. Stay far away from “get rich quick” trading robots like RobinVOL that can do more harm than good to your portfolio.

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About Amelia Clarke

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