Ganon Forex Robot is an expert advisor that claims to find the healthiest trends and eliminate fake-outs. According to the vendor, the robot has generated a total profit of $1,173,732 so far this year. To determine the veracity of this claim, we must perform a thorough analysis of the EA’s various performance factors.
Ganon Forex Robot: characteristics
This robot has been developed over six years and it uses a new theory to find profitable trend signals. It has two modes, namely hyper and normal. The hyper mode is suitable for a high-frequency approach and the normal mode should be used for trades of larger size. The vendor claims that it requires special skills to work with this EA. You can simply download and install the robot within five minutes.
Ganon Forex Robot uses take profits and trailing stops for risk management. It also has a money management feature, however, we are not really sure how it works. This EA has a sleek chart template and is compatible with micro, mini, and standard accounts. You can use it in tandem with the Reaper and Falcor robots built by the same developer. It runs on the Metatrader 4 trading platform and you can get started with a minimum deposit of $250.
Currency pairs, strategy & timeframe
Ganon Forex Robot has been optimized for all pairs and you can use it with charts of all timeframes. It is lucrative to follow the dominant trend in the Forex market, but it is not easy to filter out all the noise. This EA works on the basis of a system called Strand Theory where it points out the most reliable trends and milks them for pips. It secures the profits with the help of ATR trailing stop. The robot is also able to detect intentional price manipulations by dishonest brokers.
Ganon Forex Robot trading performance
At this moment, we don’t have the backtesting results for this expert advisor. Most Forex traders look for historical test results to assess the long-term performance of a trading system. Since these tests are carried out over a long time period, they are a testament to the robot’s robustness.
Unfortunately, we don’t have the verified trading statistics for this Forex robot. The vendor has shared the results in an odd format where we are not able to see some of the vital performance factors like win rate, drawdown, and profit factor. In the table, we can see the trade opening and closing time, type, lot size, item, opening and closing price, stop loss, take profit, commission, taxes, swap, and profit.
How much does it cost?
The current price of this Forex robot is $79, which is cheap in comparison to most automated trading systems available on the market. This is the price after the 60% discount is applied and the original price is $199. The vendor does not offer a money-back guarantee for this system, and this means your investment is not protected.
Reviews from customers
There are a few reviews for Forex Robot Trader, the parent company, on Forexpeacearmy. In one of these reviews, the user has claimed that this is an unreliable robot exhibiting a drawdown of more than 80%. They have also stated that the EA lost more than 20% of the account balance in 5 days.
We don’t know much about Forex Robot Trader, the development company behind this EA. It is the brainchild of Don Steinitz, an LA-based ex-gambler who works with a group of MQL5 programmers. The vendor has not shared the official address of the headquarters, and there is no contact information. If you need support, you must visit the support center and check the guides or send the support team a message via the website.
Should you use Ganon Forex Robot?
|Available at a cheap price||No verified trading statistics|
|Works on all pairs and timeframes||Lack of vendor transparency|
|Backtesting results are not available|
Ganon Forex Robot lets you trade in all Forex pairs in exchange for a small price. However, there are no verified trading statistics for this robot, so we don’t know how it would perform in a real-time trading scenario. We have almost no background information on the parent company, and the vendor has not shared the historical test results. Furthermore, there is no money-back guarantee.