Falcor’s website claims that the robot has taken the Forex market by storm, and they call it a “lean, mean trading machine.” Throughout this article, we perform an EA review of Falcor Forex Robot, its trading techniques, stats, website and user reviews to determine whether it’s a legit EA or not.
What is Falcor Forex Robot?
Falcor is an automated expert advisor that Forex Robot Trader created. The robot is a frequent trader that can work day and night to create the best profit margin for its clients. The good thing about this robot is that you can use it right out of the box, and it’s favorable for both amateur and professional traders.
This robot costs between $99 and $200 and gives access to the bot. You can trade using either a mini, micro and full-size account; Falcor will adapt. They have an online support center where customers can talk to customer care representatives to help out. The bot’s features include:
- A completely automated robot
- Fast price action methods
- 24-hour trades
- Multiple currency pairs
- Easy installation
EA Review: Falcor Forex Robot Methods
The expert adviser uses price action to analyze trades as they happen. This way, traders get new trades with no lag or delays. Because market prices can take the wrong direction and cause losses, the robot has been equipped with a stop and reverse function. This function essentially is a defense mechanism that leaves your current trade and then enters a new trade in the market’s direction.
Stop and reverse is a risk management feature that allows clients to recover their losses and profit. Stop-loss orders are parameters that you can pre-set to determine the amount of loss you can handle on a trade.
The description on the website isn’t enough to understand what the robot does, especially since they claim it’s a perfect robot for amateur traders.
EA Review: Stats and Trader Reactions
We checked the robot’s website, and it’s well done. The robot’s site is well managed and updated, and their descriptions make sense. On the other hand, the colors they chose make the site look like it was made in the 80s.
We have backtested that show a profit factor of 7.12 and a drawdown of 0.0%. From 61 total trades, the backtests show an average of 80% of positions won.
There are no live test results of the Falcor Forex Robot, and we couldn’t find user reviews for the robot. The robot’s website has a few reviews that we will sample here, although we can’t verify them.
We start noticing red flags right from the website. It’s appealing and nicely done but doesn’t include crucial information that would help traders make the correct decisions. The site lacks informational backtests, and the creators didn’t see it necessary to include real results on either their website or on 3rd party sites like Myfxbook. We definitely wouldn’t recommend using this robot.