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According to its website, Yeti Forex Robot is a client-oriented Forex Expert Advisor focused on getting its clients a reliable profit. The creator seems to understand what it means to be broke and wants to help their clients trade successfully. We perform an EA Review on Yeti Forex Robot to get an insight into the software’s trading mechanism.
What is Yeti Forex Robot?
Yeti is a fully automated trading software. It uses trend-trading and the H4 timeframe to ensure that its clients maintain a 10% profit. According to Myfxbook, the robot’s create is Viktor, a self-proclaimed Financial analyst. Victor claims to have started the robot’s development process in 2013 and then launched it in 2015. He goes ahead to explain that his software works because he shunned the Martingale and grid system.
The robot’s developer believes that there is a share of profit for everyone and aims to create a robot that protects its users from malicious brokers. It focuses on long-term profits instead of leaving trades after short period bursts.
YFR’s site has two packages, priced at $99 and $999 consecutively, offering different features depending on the price. The single license gives you lifetime access to one real account and a demo account, and technical support via email.
The more expensive package gives you an unlimited license for one person. This package translates to unlimited real and demo accounts, lifetime support, 24/7 technical support via Skype. With this package, you don’t need to pay any other monthly fees. Purchasing this robot entitles traders to a 60-day money-back guarantee after purchasing the robot.
The robot can support mini, micro, and standard accounts and an anti-broker module to protect its clients. The EA operates with both four and five digits after the decimal.
EA Review: Yeti Forex Robot
Yeti works on the H4 timeframe trading strategy, an advanced time management system that uses a 4-hour chart that allows for round-the-clock trading that uses technical indicators to study the market trends and lets the software run your trades as you focus on other things. This technique is more accurate and focused on long-term results.
The EA also boasts of their stop loss and takes profit feature, ensuring that the trader has control of their earnings. The take profit allows their client to exit a trade when the market price is high enough. Yeti is fully automated and also compatible with any MT4 broker and ECN.
Yeti Forex Robot has an in-built broker protection system. The fact that brokers exploit traders by trading against them is an open secret. This protection system prevents this disadvantage.
Spreads in Forex represent the difference between the buying and selling price of a currency. When the market is volatile, then the difference becomes a difficulty. The robot offers inbuilt high-spread protection, which then protects traders from losses.
Other features the robot presents include:
- An advanced money management feature
- 24/7 technical support
- Operates with 4 and 5 digits after the decimal, increasing profit
- Yeti Forex Robot is compatible with any MT4 broker
- The robot comes with an advanced time management system
EA Review: Yeti Forex Robot Community Trust
The first thing we checked was their website, and YFR’s website looks relatively simple, and it has explained the packages well. 24/7 support is quite a commitment, and this is a great way to earn clients’ trust. But the site is also vague about its owners and trading techniques.
Most EA sites have their owners on display, which gives clients an insight into who they are and their profile as traders, but YFR remains silent about concerns as to its creators. There is still no knowledge of the creators’ origin or where the company’s headquarters is either. While it’s a good idea to keep company secrets, some mysteries, especially those that relate to money, may lead to a lack of confidence.
The EA also boasts of a more superior trading technique that assures clients of a constant 10% profit each month, but we have no idea how this is done. The site mentions YFR’s features, but we expect all forex expert advisors to produce this, so really, there is nothing that sets this one from the rest.
Yeti’s developers give us backtest results spanning ten years to see their risk analysis technique. Still, it’s good to know that backtests offer a projection on how a trading robot performs and aren’t a substitute for actual trading performance stats.
We focus on the EURUSD pair backtest that was set on the H4 timeframe. This test was modeled on a 90% modeling quality and a 1:500 leverage. With an initial $1000 deposit, the total net profit stood at $505067.70, a 2.77 profit factor and a 31.54% maximal drawdown. The drawdown is on the higher side, which could mean that their money management technique isn’t as effective as they want it to look.
It looks as though Yeti has deleted their account on Myfxbook, which means we can’t know how the robot would work in the real trading environment.
Final Thoughts
We have learned a lot through this EA review; the EA’s developer is Victor, and despite being launched in 2015, it has no user reviews on any of the popular review sites. They also removed their trading track records from Myfxbook, which is quite worrying. The robot’s performance may have tanked.
The backtest shows a 31% drawdown, which is very high, especially in a projection; how would the robot perform? The site also has little to no online presence whatsoever.
Another red flag would be that we don’t have a clear understanding of the trading strategy, just that it doesn’t use Martingale or Grid. Without the specific strategy, we can’t determine how profitable it would be.
The amount of money the EA costs, especially for the unlimited package, is astronomical. It first shuns amateur traders, and second, it’s unfair to ask for that much without describing why traders should trust the robot with their money. We advise you to use this product with caution, considering the air of mystery around this EA.