Ganon Forex Robot Review Is This A Legit Or Scam Robot

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker!
    Perfect Choice For Beginners and Middle-Level Traders!
    Free Demo Account! Free Education!

  • Binomo
    Binomo

    Honest broker!

Ganon Forex Robot Review: Is This A Legit Or Scam Robot?

Ganon Forex Robot Review: this is the name of a Forex auto-trader that is created by the Forex Robot Trader team. Is buying this EA worth it? Read our review to see what experts have to say about the Forex trading software.

HAVE YOU BEEN SCAMMED? If you have lost your money to online scammers, there is an opportunity you could get back your money.

Click HERE to start the recovery process

What Are Forex EAs, Signals or Indicators?

Most Forex indicators are created for the purpose of giving traders trading signals that are accurate as well as consistent. With a legit indicator system, traders can afford to spend less time monitoring the market.

Traders are also provided with what can be termed expert advice from these robots, this is why they are called Expert Advisors (EAs). EAs do more than just give signals, they carry out trading activities for traders depending on their needs and/or preset instructions.

It is totally in character for Forex EA vendor or signal providers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit vendors at the bottom of this article.

Ganon Forex Robot Review

The page touts the robot as a “powerful” trading tool. As we mentioned above, this software is designed by the FRT team. They mention that it is currently “terrifying brokers” in the Forex market.

According to the website, it is better than other competitors as it can detect trends better than them. Despite the vendors having some popularity in the market, the new owners are not disclosed.

How Ganon Forex Robot Works

Ganon Forex Robot uses what the page refers to as “exclusive Strand Theory”. This allows the EA to find the healthiest trend trades and removes “fake outs”. A report states that the strategy was worked on for a period of 6 years and it locates the best trend signals. Users can choose from two modes to be used.

The software automatically optimizes settings and levels to trade all currency pairs. Installations do not require any skill and can be completed in 5 minutes. It also promises fully automated trend trades that require little or no effort. Using advanced trend detection, the algorithm finds large trades.

Ganon Forex Robot Price

The price for the EA at the moment is $99. This is after a 50% slash in price from the usual $199 tag.

Client Feedback

As a vital part of our reviews, we consider what people who have made use of a product or service are saying about it. We always prefer this on third-party websites rather than on the official page of the service itself. This is because sometimes, what we find could have been manipulated.

Not many reviews are available on this product on the Forex Peace Army website. But we found that there was negative feedback from clients, which is discouraging.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker!
    Perfect Choice For Beginners and Middle-Level Traders!
    Free Demo Account! Free Education!

  • Binomo
    Binomo

    Honest broker!

Trading results are provided on the website of the EA but this cannot be trusted. We always prefer results uploaded on third-party websites where they can be verified.

Support

There are no means visible on the website to contact the vendor or get more information from a customer service agent.

Conclusion

Ganon Forex Robot gives some sparse details about how it works on the website. This information is not enough and we find the lack of trading results discouraging as well. It is better when the vendor is transparent than giving room for doubts and suspicious.

Odin Forex Robot Review: Is The Automated Trader Legit Or Scam?

The Odin Forex Robot introduces their forex robot system as the “unrivaled expert trading advisor with brutal trading accuracy.” It goes on to list the astronomical profit figures they claim to have achieved with the robot trader in the last 30 days and ‘so far this year.’ This spikes off the first red flag not just because of their incredibly high numbers but because they have little evidence to back the results.

A quick search online reveals that Odin Forex Robot trading system is distributed and maintained by ForexRobotTrader.com that is in turn owned and operated by Don Steinitz. Apart from Odin forex robot, Don is also the developer of the equally controversial products. Yet they all have the same characteristics and key among them is the promise of huge profits from small initial investments.

  • Vader Forex Robot
  • Falcor Forex Robot
  • Ganon Forex Robot
  • Hedge Forex Robot
  • Directional Forex Robot
  • WaveRunner Forex Robot
  • Reaper Forex Robot
  • HAS Forex Robot
  • Pterodactyl Forex Robot
  • Volatility Forex Robot
  • Free Forex Robot
  • Fractal Breakout Indicator

What is the trading strategy used by Odin forex robot

According to the Odin Forex Robot website, their system embraces the Grid trading system that they claim plots charts in real time to identify trends that it then uses to “enter and close trades with no lag time.” The process is fully automated which then makes the Don Steinitz algorithmic trader deployable for all traders regardless of their skill as they don’t have to “lift a finger.”

From an experienced trader’s point of view, the explanation of this strategy is just meant to lure in traders. It glosses over all the important details that help an experienced trader determine whether robot trader is worth investing in or not. For instance, it doesn’t mention whether the strategy allows for the implementation of stop-loss or any other risk management protocol aimed at protecting the trader’s investments. It also doesn’t mention the number of trades the system can open during a trading session.

Reasons you should be cautious when dealing with Odin forex robot

No backtests

Backtests remain one of the most effective methods of helping prospective traders understand the inner working of the trading robot they hope to acquire. In an ideal situation, you would expect these backtesting results to include such factors as settings; tick data variation, stop loss levels, time frames, and amounts invested as well as the duration of the backtest. But Odin Forex Robot provides none of that.

Independent reviewers that have purchased and tested the system have nonetheless flocked such reputable trading robot review sites as forexpeacearmy.com, expressing their disappointment with the system. The chief concern in the unreliability of Odin’s default settings that don’t live up to the expectation peddled on their website.

Suspicious and unverifiable live trading results

Independent trading review sites like Myfxbook and FxBlue give trading system developers a chance to host the verified trading history of their automated systems on their platforms. Odin Forex robot developers, however, decide to forego either of the platforms and link the results of their live trading accounts toa suspicious and unverifiable trading history profile.

This isn’t the first time ForexBrokerrobot.com is foregoing the independent and reputable trading history providers and hosting their forex robot’s trading history on unverified third-party websites. It is a trend as none of their forex trading robot has its history on an independently verifiable history tracking platform. This shoots up as yet another red flag that makes trader think hard about the trading robot provider’s transparency.

History of running scams

Forexrobottrader.com, the brand behind the popularization and distribution of Odin Forex Broker among other automated trading software, is marred with controversy. They also have a history of running scams with most of the trading robots they allegedly provide being flagged off by a majority of the trading community as highly unreliable and scam.

While the history alone is not enough to qualify Odin as yet another scam project, the fact that it follows in the footsteps of all its predecessors from risky trading strategies and unverifiable trading information does.

Negative user reviews

We agree that there may be a host of reasons why a disappointed trader may leave a negative review on a forex broker’s website. But a load of them, all from verified traders that have interacted with the system, addressing such common issues as poor performance, poor support, and poorly researched deposit settings, cannot be wrong.

Checking up on Forexpeacearmy.com, there are hundreds of negative reviews from verified traders directed at Odin and its Forexrobottrader.com developer as well as the other trading robots that the developer gives out for Free as an added bonus for every purchase.

PAMM forex accounts management has also evolved into one of the ways traders use to test the effectiveness of trading robots, as well as trading signal service providers. Before PAMM investors deposit into accounts they demand access to a trading system’s actual trading history and vet every possible threat to their often huge investments.

But the net reward from maintaining these accounts is worth the close scrutiny. It is, therefore, suspicious that Odin Forex Robot would forego the lure of guaranteed profits made from maintaining PAMM accounts only to sell their system that “beats the market” for $199.

No money back guarantee

Legit Forex trading system developers, confident about their systems, give their clients enough time to test their trading robots. They provide a free trading period, allow for the use of demo accounts or opt for the more popular money back guarantee strategy. Odin Forex robot offers none of these, neither does it promise to give back your invested amounts should their system lose you money or perform dismally.

Forex Robot Scams

*Last updated in January 2020*

When it comes to investing, there are endless ways to scam a trader. Many brokers manage to get away with their fraudulent activities for a period of time. Then they are either ‘caught’ by a regulatory organization or they succeed in absconding with their clients’ funds, never to be seen again.

Broker scams come and go. Some move underground only to pop up again at a later date. There are always unethical brokers looking for schemes to fool investors and it takes only a few big deals to make the whole endeavor worthwhile.

Scams must be done in a clever, convincing manner. They must also be convenient for the trader. The easier it is for the trader to seemingly make money, the more a fraud will succeed. The latest entry into the Forex scam market is the Forex robot, which is a perfect example of promises of easy money. Forex Robots are all about making money while you sleep which makes them a prime area for fraudulent activity. Forex robot scams are only now beginning to be uncovered but not everyone concurs that Forex robots are scams to begin with.

Thankfully, there are more and more websites rating Forex traders and their systems. You can make more educated decisions after reading reviews and checking with experienced Forex experts. At the very least, one should search for reviews before purchasing a Forex robot, no matter what claims are made about its success.

Forex Robots

Forex robots or Expert Advisors (EAs) are programs that claim to automate Forex trades. It’s like putting a plane on auto pilot. Traders can sleep through the night calmly knowing that their trades will be placed exactly at the times they designated. Sounds easy, right?

Forex robots are getting a lot of hype of late and Forex robot scams are not far behind. Almost every Forex broker currently offers its account holders the opportunity to use a Forex robot for their trades. They back up the legitimacy of these robots with tremendous profits and lull the trader into a false sense of security only to end up broke. These claims are usually based on a very narrow window where the particular product was successful and not on a long term use of the Forex robot.

A Forex robot can only be as smart as its creator. The creators of these systems are looking to make a quick large sum of money and are not looking at the fact that the most predictable thing about the Forex market is the changes you cannot predict without watching the changes carefully. Anyone who knows the Forex market well and understands it will recommend a live person with their own trading strategy and then and only then does it make sense to automate any of it.

The companies producing Forex robots often rely on very broad, small print disclaimers to keep them out of trouble for promising tremendous results when those results are unrealistic in the long term.

The problem is that Forex robots are run based on automated mathematical algorithms, not taking into account things like market conditions that vary with political issues, weather and other factors. The inconsistency of the market is impossible to program into a robot, and therefore the results of Forex robots are inconsistent as well.

Most Forex robot scams are easy to pinpoint and would seem obvious to any investor. But even with blatant false promises of huge profits “while you sleep” millions of dollars are dropped into these Forex robot scams every day. Even those brokers that are successful exaggerate their numbers to attract new clients.

Online Forex Robot

One needn’t depend on the Forex broker for these robots because Forex robots are readily available for purchase online. Even Amazon.com sells the software package made available by one Forex company under the heading, “Make Money While You Sleep – Advanced Forex Auto Trading Robot.” Costs for a robot program hover around $1000 for the package so most traders opt to use the EA provided by the Forex broker. This is what leads so easily to Forex robot scams.

When you look at any two weeks of trading in the past that were profitable, and then make a profit claim based on those weeks, you are not lying to anyone. These Forex robots claim their profitability based on any given successful time period in their past when testing the product so they aren’t lying. Be very wary of hindsight claims in simulated conditions.

Since 99% of traders who purchase a robot end up asking for a refund, most experienced Forex traders recommend never purchasing one. Objective Forex traders suggest never putting a Forex robot on a live, real money Forex account until it has been tested thoroughly through a demo account. If the Forex vendor is genuine, then he should advise his traders NOT to use an EA until they fully understand what the robot is all about.

Getting a refund for the Forex robot sometimes will satisfy the customer but they have already lost in the market and wish they had never gotten involved with it in the first place.

Forex traders who have used robots in the past suggest that traders learn enough about the workings of the EA program so that they can place the trades themselves and not through a broker. This will provide them with a sense that they are in control of their money and are not leaving it in the hands of a broker. This may not lead to profits but it will eliminate the feeling of being taken in by a fraudulent Forex robot scam.

Vader Forex Robot

Generally, nothing that promises tremendous gains with very minimal investment will prove to be successful. Any experienced Forex trader will tell you that it takes real understanding, and changes based on that understanding to be successful in the Forex market and for that you need a human involved in the decision making process. A carefully chosen Forex robot, monitored by an educated Forex trader can help to automate the trading and reduce time spent which saves money in the long run. If you and your Forex trader do the research then Forex Robots can be a positive thing. It can be a benefit to eliminate the emotional aspect of trading if you don’t eliminate the intelligence. Beware of any arrangement that does not involve careful research by experts and remember that it is not only the cost of the Forex robot at stake; your trading capital is as well.

Video: Scams in Forex Trading Script:

“Welcome to DailyForex. Today we are going to be looking at, Forex scams, and so called, Forex robots.

Scams in the Forex market! Forex robots!

If you type into Google in the search engine, “Forex robot” there will be hundreds of pages, a lot of companies trying to scam people in the Forex market. You know they are killing enthusiasm. People that want to come and invest or trade in the Forex market aren’t interested, they are killing their enthusiasm because people will get burned by these so called Forex robots that are being sold. They are promising “x” amount of gains that you will “make this while you are sleeping”. Essentially, put your trades on “autopilot”. And the gains will just magically take care of themselves.

Well guys, the fact is, this is a scam! And most people will realise that, after learning the hard way and trying to get their money back. These companies just disappear. They come and go, they are thinking of more creative ways to try to make a quick buck out of these poor people that are trying to come into the market with genuine interest in Forex trading. They are getting hooked by these awful markets that are dragging them in and it is really toxic and something I am quite passionate about and I really am not keen on seeing.

The companies producing Forex robots often rely on broad, small print disclaimers to keep them out of trouble by promising tremendous results when those results are unrealistic in the long term. The problem is that Forex robots are run based on automated mathematical algorithms. Not taking into account things like market conditions that vary with political issues, weather, and other factors. The inconsistency of the market is impossible to program into a robot and therefore the results of Forex robots are inconsistent as well.

The thing is with these so-called Forex robots, essentially where they are able to suck you in as well, is that every trader may have a particular period of trading that they see exponential gains and typically what these Forex robots- (EA expert advisors) would do , is get a particular period – where it’s actually done really well where they got “x” amount of gains, and percentage , and they will market that period of trading of a week or 2 weeks and they will market that- look how much these Forex robots made in this period of time! Well guys, this is nonsense! Because the week following the period they focused on they may have had a massive drawn down or their account blew up you just don’t know but they suck you in with that particular good period.

So be careful in that. And also with Forex robots they don’t take into consideration risk management, risk per trade, draw down, factor in your account can blow up. All they care about is broker commissions , some of these brokers are partnering with these awful companies just because they know people will deposit their money into the broker, follow this robot, they will get their commissions that earn them the spreads, etc. and it really is toxic! So avoid these Forex robots in general.

So thank you guys from DailyForex, we hope thats given you a bit of an education and inside into being very aware of the scams that are going around in the Forex market. Don’t forget to download the DailyForex app for the latest educational videos and market analysis!”

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker!
    Perfect Choice For Beginners and Middle-Level Traders!
    Free Demo Account! Free Education!

  • Binomo
    Binomo

    Honest broker!

Like this post? Please share to your friends:
Binary Options Trading Step By Step
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: