In todays post, we carry out the Arteon Forex Robot Review. This is an EA that is fully automated and requires minimal user intervention to trade.
We analyze the legitimacy of this EA. We look to find out if it can generate any profits or it’s just another avenue to losses. We also check what other users are saying about this robot. Finally, we also examine results from real live verified accounts.
What is Arteon Forex Robot?
At the time of publishing this EA, Arteon’s website was down. However, we dug around the internet to bring you credible information because EA market places are still selling this forex robot.
From what we gathered, the developers claim that this EA is the greatest on the market. They believe that it is stable, reliable, and profitable.
The Arteon EA works on several currency pairs, including EURUSD, GBPUSD, USDJPY, AUDUSD, EURGBP, and USDCAD, on an M15 timeframe.
Arteon Forex Robot Notable Features
- Multiple Currency Pairs
- 15 Minute Timeframe
- One or Unlimited Licenses
- 30 Day Money Back Guarantee
- Full Customer Support
- Lifetime Updates
- Any Deposit
- Any Leverage
- Detailed Instructions
- MetaTrader 4
Arteon EA Strategy
Arteon Forex robot is considered a day trading robot. A typical trade will last around 6 hours. It avoids extreme scalping, so it is not heavily dependent on brokers or tight spreads.
We also gathered that it does not use arbitrage, averaging, or hedging trading strategy.
Although there is little information on the methodology this EA uses, we gather that it works by analyzing the price movement. From analyzing the price trend, the robot is able to determine market movement for the next couple of hours.
As a trader, you can specify your risk and profit settings. The creators claim that there is little chance of making losses. They promise that the EA can make traders expect a 60% success rate on their trades.
Claims to check:
- More than 60% win rate
- Little chance of losses
Arteon FX Robot Performance Statistics
We did not find any backtest results for this EA. Backtests results are important because they show us how the EA would have faired over a period of time. It mostly utilizes historical data to check the effectiveness of the EA. Although not entirely conclusive, it indicates how the EA may perform in various market conditions.
Good thing we got two sets of results for real accounts hosted at Myfxbook. The first real account results are not bad. The data shows a gain of +204.9% over a period of 6 months, which is an outstanding result. However, the absolute gain also clocked at the same value. This points to the fact that the account owner had to add money to support it. The drawdown stands at 29%, while the monthly growth is 8.2%.
The second sets of results are abysmal. Gain stands at almost 100% in the negative. The initial deposit being $602 is also lost by $596.
Please note that both accounts were closed in in 2018 and 2017 respectively.
Let’s delve into some more analysis. The average trade length is 2 days; this is above average compared to other EAs. The profit factor for this EA is 1.54.
During the period this account was live, this robot made 307 trades. 152 of these trades were winning, representing a 50% win rate. More so, the EA made -36 pips. The average win was 82.6 pips/$38 while the average loss was -81 pips/-$24.3.
The results for this EA are not encouraging at all. However, lets see what customers say about their experience.
The Arteon EA has been around the block for quite some time. For such an EA, we expected to see many reviews about its operations amongst other things.
We usually search for user reviews from reputable sources. However, we could not find any. This is a tell-tale sign that this EA is not reliable.
Apparently, the owners of this EA are also involved in developing other EAs. However, we do not know their identity. Some of the EAs they have in the market include Everex Elite and Goldbull Pro.
Since the website is down, we could not find any substance statement about the refund policy. At this point, we advise traders to assume that this EA does not have a money-back guarantee. Therefore, if you decide to invest in this EA, do not expect a refund if you are dissatisfied with the service.
- More than 60% win rate: False. From our analysis, we have determined that the win rate for this EA is 50%. This is based on the real live account.
- Little chance of losses: False: The chance of a trader getting a loss using the recommended settings stands at 50%. We consider this a dangerous level.
This EA lacked backtests and customer reviews. Results from real accounts are not encouraging either. From the second real account, it is clear the account was eventually blown out before the account owner closed it. The second set of results in 2018 are not fantastic either. The chance of loss and profit stands at 50:50.
Investing your money in this EA is a lost cause. You are likely to loss your account.
Arteon is a day trading EA. It works with several currency pairs and uses a strategy that avoids extreme scalping.
We were disappointed that this forex robot does not have a functional website. Moreover, the results from real accounts do not point to any profitability.
We advise new traders as well as those experienced to avoid this EA completely. This until the developers rectify all the issues we have pointed out.