In this post I will be reviewing the Tycoon Forex Robot. It is a fully automated forex trading system developed for the MetaTrader 4 trading platform, no prior forex trading experience is required. In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Tycoon Forex Robot Trading Strategy
The expert advisor (EA) will analyse charts for potential trading signals based on the built-in algorithm. When it finds a signal, it can place and manage trades on behalf of the user. The settings can be customised to the user preferences. I would personally run forex robots with an ECN forex broker as I find that they tend to have some of tightest spreads, lowest commissions and reliable execution speeds.
Tycoon Forex Robot Back Testing
There are no back tests on the official website which is disappointing. I would have liked to have seen some 99% modelling quality tests on multiple currency pairs and time frames.
Tycoon Forex Robot Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Tycoon Forex Robot Summary
Overall, I would personally avoid using this particular forex robot. I find that it is too risky for my personal taste. I have conducted many forex robot reviews and there are alternative options that I would prefer over this EA. It does however come with instructions, full support and a money back guarantee.