In this post I will be reviewing Robomaster.eu, a website and forex development team that have a range of forex robots available to purchase including the Scalping Station EA, Rocket EA, Anglerfish EA, Big Fish EA, Scalper Trade Machine, Range Correlator EA and Piggy Bank EA. They also have a range of manual forex systems but the in this Robomaster.eu Review, I will take a look at the forex robots that they offer, key features and most importantly, any verified results. Which I can say right off the bat, are significantly lacking.
What is Robomaster.eu?
Robomaster.eu are developers of automated forex trading software, commonly known as expert advisors (EA’s) or forex robots. All of the software that they provide has been developed specifically to trade automatically within the popular MetaTrader 4 or MetaTrader 5 platforms which you can download for free from most forex brokers. You will need MetaTrader running in order for expert advisors to work correctly. If you cannot always have your computer switched on, you could consider a Forex VPS that will enable you to run trading platforms 247 remotely.
How does Robomaster.eu work?
The Robomaster.eu forex robots can scan the forex market for trading signals using built-in trading algorithms. You just choose the currency pairs and chart timeframes that you would like to use the software on. When the EA finds a signal, it can enter a trade position without the user needing to do anything. They will then manage and eventually close the trades on behalf of the user.
MetaTrader also has an option where you can set expert advisors to send you alerts instead of trading so that you can check each trade. Signals alert notifications can be sent via SMS and email. This is useful for those of you who prefer to verify each signal with your own market analysis and trade manually. It is worth noting that Robomaster.eu also have a selection of manual forex strategies if you prefer trading yourself.
Each of the forex robots has settings which can be customised according to individual needs. They can also be used with out of the box default settings provided by the developer based on the years of development and testing they have spent on the robots. For sure, you will at least want to adjust the risk or lot size to a level that you feel comfortable with as every trader has a different risk tolerance level.
Furthermore, I would always test forex robots on a demo account to see how they work before even considering running them on a real trading account. You can get a risk-free demo account that comes preloaded with virtual funds from the majority of forex brokers.
Now you have an idea of what Robomaster.eu offers, lets take a closer look at each individual forex robot they have for sale on their website.
Scalping Station EA Review
The Scalping Station expert advisor tracks the dynamics of the current price movement and trades based on levels of Fibonacci extension. Fibonacci levels are one of the most popular trading tools for analysing the price action on forex charts.
The trading volume aspect of the EA is divided into 3 individual strategies, which aims to scalp the forex market based on the Fibonacci levels combined with support and resistance. This is to try and help diversify the EA’s trading activity whilst spreading the risk across different entry criteria.
Scalping Station EA Features:
- Maximum slippage filter
- Maximum spread filter
- Uses Stop Loss
- Trend filter
- Automated trading algorithm
- 9-currency pairs
- 5-minute chart timeframe
- 3 trading strategies in one
- MetaTrader 4
- Cost €259
The Rocket EA Review
The Rocket Robot attempt to trade only in the direction of the overall trend on 12-currency pairs. You can choose a few or all pairs depending on what you prefer. Don’t forget to adjust your risk if using multiple currency pairs so that you are not over exposed. The Rocket EA has 2 strategies in one in order to try and adapt to dynamically changing forex market conditions.
The Rocket EA Features:
- Maximum slippage filter
- Maximum spread filter
- Uses Stop Loss
- Trend trading strategy
- Automated trading robot
- 12-currency pairs
- 2 trading strategies in one
- MetaTrader 4 & MetaTrader 5
- Cost €259
Anglerfish EA Review
The Anglerfish trading robot has been developed to scalp the forex market on the 5-minute chart timeframe. It trades during the end of the US trading session and beginning of the Asian session, I find that spreads can be very high around these times due to the low volatility. This means that it can be very difficult to scalp the forex market for a few pips due to the high spreads. The Anglerfish EA trades in a price channel with market trend control.
The Anglerfish expert adviser forex waits for the time when the market volatility is low and price action is ranging. It will also check the market trend direction and once the price touches the border of the price channel against the trend direction, the expert advisor can take a trade position.
Anglerfish EA Features:
- Maximum slippage filter
- Maximum spread filter
- Uses Stop Loss
- Built-in money management system
- Forex scalping strategy
- Automated scalping robot
- Monitors the trend direction on: H4, H1, M15 and M5
- Monitors the depth of the price pullback against the trend on: H4, H1, M15 and M5
- EUR/AUD, EUR/CAD, EUR/GBP, EUR/USD, GBP/USD, USD/JPY
- 5-minute charts
- MetaTrader 4 & MetaTrader 5
- Cost €179
Scalper Trade Machine EA Review
The Scalper Trade Machine EA is designed to scalp the price deviation from the average and trades towards the middle of the price channel. The expert advisor implements a system that trades in a price channel that adapts to the movement of underlying price quotes. It has a news filtering system, to try and avoid unexpected market volatility that can be caused by economic news releases with major impact.
Scalper Trade Machine EA Features:
- Maximum slippage filter
- Maximum spread filter
- Uses Stop Loss
- Trailing Stop Loss
- News filter
- Universal forex trading strategy
- Automated forex robot
- 10-currency pairs
- 2 preset files
- MetaTrader 4
- Cost €199
The Big Fish EA Review
The Big Fish EA is another Robomaster.eu robot that uses a forex scalping strategy. This trading software analyses the trend and attempts to take trades only in the direction of the overall market trend according to its built-in algorithm. It has been programmed specifically for trading gold and various currency pairs on the 5-minute charts in the MT4 or MT5 platforms.
The Big Fish EA Features:
- Maximum slippage filter
- Maximum spread filter
- Uses Stop Loss
- Customisable money management
- Trend filter
- Automated trading robot
- GOLD, USD/JPY, GBP/JPY, AUD/JPY, EUR/USD, USD/CHF, GBP/USD
- 5-minute chart timeframe
- MetaTrader 4 & MetaTrader 5
- Cost €200
Range Correlator EA Review
The Range Correlator EA strategy is to try and trade based on the correlation of related market assets. It is no secret that the quotes of different market assets can have similar dynamics. For example, AUD and NZD, or EUR and GBP, or EUR and CHF, and so on. In some instances, they can frequently move in similar directions, occasionally deviating from the general trajectory.
The Range Correlator EA looks to try and take advantage of such deviations. For example, if it considers that a particular currency pair has grown too much, it might sell it. The second pair whose quotes have fallen in comparison then the software may look to place a buy position. Sooner or later, the quotes of both pairs may begin to converge again, and that’s where the EA may look to close a position.
To be fair to the developers, this quite an impressive strategy to have automated. Whilst that doesn’t guarantee results by any stretch of the imagination, it is nice to see an innovative EA that differs from the hundreds of forex robots that I have reviewed over the years.
Range Correlator EA Features:
- Maximum slippage filter
- Maximum spread filter
- Uses Stop Loss
- Money management settings
- Correlation strategy
- Forex trading robot
- Multiple combination of currency pairs to trade on any timeframe
- MetaTrader 5
- Cost €129
The Piggy Bank EA
The Piggy Bank EA is yet another expert advisor from the Robomaster.eu development team. Unfortunately, they haven’t really provided us with much information at all about how this particular forex robot works. That being said, it runs in the MT4 platform and has fully adjustable settings. I would run some MetaTrader 4 backtests with optimised settings to get more of an idea on how the Piggy Bank robot trades.
The Piggy Bank EA Features:
- Customisable settings
- Automates forex strategy
- MetaTrader 4
- Cost €99
Robomaster.eu Conclusion
The Robomaster.eu robot collection is diverse, with various automated trading strategies for different trading styles. They have manual and automated trading software both MT4 and MT5 platforms. My top pick would be the Correlation EA that they have developed as I feel this offers something unique in comparison to the others which look similar to many other commercial forex robots. I am disappointed by the lack of verified Myfxbook accounts to back up the claims made on by Robomaster.eu. For that reason, I would prefer to choose a forex robot with verified results like those you can find on my best forex robots page.
Robomaster
$99
Pros
- Collection of forex robots
- Various trading instruments
- EA's for MT4 & MT5 platforms
- Different automated trading strategies
- Customisable EA input settings
- Versatile trading robots
- Manual trading strategies
- 14-day refund period
- Instructions provided
- Support available
Cons
- Limited Backtest Quality
- No Verified Results
- Potentially High Drawdowns
- Requires User Input
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
