Anglerfish claims that out of all its trades, it wins 98% of them. This claim would mean that the traders who use this EA make exponential wins and negligible losses. Who wouldn’t want such a robot? We review the Anglerfish EA’s trading strategies, stats, website and user reviews to determine whether this EA is legit.
Table of Contents
What is The Anglerfish EA?
The Anglerfish EA is a fully automated trading robot by Robomaster, which trades on the MT4 and MT5 platform. We have no idea who the actual creator of this robot is, just that the Robomaster brand is native to Slovakia. Anglerfish supports several currency pairs, including EUR/AUD, EUR/CAD, EUR/GBP, EUR/USD, GBP/USD and USD/JPY.
There are two easy ways to get this robot. The first way is by getting the full package at €219. This price covers unlimited trading accounts, the forex robot, pre-programmed parameters for automatic configuration, a detailed manual and technical support. The unlimited trading account allows you to use your robot on any device for any period.
The second way to get the robot is through getting the Economy pack that costs €179 and covers one trading account, the trading robot, the parameters for automatic configuration, a detailed manual and technical support.
How Does the Anglerfish EA Work?
Anglerfish EA is a scalper that works by waiting for the perfect time between the end of the American session and the beginning of the Asian session when there’s little market activity to analyze the market trend. As soon as the price reaches the limits set, then the EA trades in the market’s direction, which according to the sales page, is the safest way to trade.
Aside from scalping, the trader uses a price slippage filter, a spread filter and trend analysis on the M5, M15, H1, H4 timeframes. The robot has an elaborate money management feature and uses the stop loss technique to protect each of your deals. The minimum account size you can have is $100.According to the creators, this robot guarantees you a 10-30% steady profit.
Stats and User Reactions
We’ll start by reviewing Anglerfish’s sales page. We already know that the EA is a part of a group of robots by Robomaster. We figured their interfaces would all be the same. All the robots have different page designs, and they have all been created by professionals. The page provides a lot of insight into the robot’s working mechanism, unlike the scanty information other robots’ pages offer, which impressed us.
The page contains numerous backtests for all the currency pairs; the problem is that they are so minimized that we couldn’t study them. They are also not downloadable. The creators have not provided tests or demonstrations for either Live or real accounts. We couldn’t find any user reviews for this robot from any popular user review sites.
Anglerfish EA seems new in the market, which is why we can excuse their lack of user reviews. We can’t ignore the lack of evidence in either getting us a demo account to see how the bot works. They have put a video that is of no use to explain the robot’s working mechanism instead. We don’t recommend using this robot.