Robocopy-FX is another copy-trading service. It was released several months ago and has a scam-like presentation. The owners don’t care about explaining the service to clients well.
- The system places Stop Loss and Take Profit levels for each open deal.
- “When you subscribe to our copy trading service, you are entitled to another bonus. See at the bottom of the page another account that you can copy.” It’s nonsense.
- There are many various features:
- Money management mode
- Asset mapping. By default, lots are fixed on a 0.01 Lot Size
- Risk Ratio Server
- Fixed Lot Size
- Lot multiplier
- Risk percent
- Risk money
- Lot money ratio
- and others.
- There are “trading results” where details can’t be seen clearly.
- The developers suggest we open an account on IC Markets using their referral link.
- As well, if we need a VPS service, there’s a referral link on the ForexVPS site.
- Copy-trading software works only with the MT4 platform.
- The developers always create new strategies.
- Their support sounds like a bad joke.
Currency Pairs, Strategy & Timeframe
- There are two strategies Robocopy-FX1 and Robocopy-FX1. Of course, it’s a scam because the developers don’t tell real names of strategies.
- We have no idea what currency pairs these strategies are designed for. The system tried to work with 11 pairs, but the most traded are EUR/USD, GBP/USD, and USD/JPY.
Robocopy-FX Trading Performance
The developers provided no backtest reports to be sure they designed and own the systems they introduced to us.
The robot works on a real USD account on IC Markets, automatically trading with 1:500 leverage on the MetaTrader 4 platform. The account has a verified track record and verified trading privileges. It was created on December 10, 2020. Since then, the absolute gain has become +11.58% only. An average monthly gain is +2.81%. The maximum drawdown is 12.80%.
The system has traded 248 deals with 371.1 pips. An average win is 5.06 pips when an average loss is -4.23 pips. The win-rate is impossibly low. It’s 66% for Longs and 57% for Shorts. An average trade length is 81 minutes. The Profit Factor is less than 1 – 0.86.
The most-traded symbol is EUR/USD with 136 deals when the most profitable is USD/JPY with $193.6
Most deals are opened during the European trading session.
Wednesday (59) and Thursday (62 deals) are the most traded days.
The system works with sky-high risks to the account balance because of weak trading discipline.
From the results, we can notice the unsuccessful usage of Martingale and Scalping orders.
The far we go – the worse results we have.
How much does it cost?
- The monthly subscription costs $127.
- It’s a scam price for these results.
- There’s a 7-day refund policy.
- Cancellation sounds weird. We have to write five days before we get the next invoice.
- We have to contact them only through email, waiting 48 hours.
- We have to pay only via Credit Card.
- The paid service is called “JVZoo.” What? Where are animals?
Reviews from customers
There’s no feedback from people. The Forex Store site gave it a 4 rate from 10 possible.
Should You Use Robocopy-FX?
|Real-account trading results||No team revealed|
|No settings and other details explanations provided|
|No backtest reports provided|
|Horrible trading results|
|Low Profit Factor|
|High pricing as for a signal service|
|No refund policy provided|
|The developers don’t provide customer testimonials|
Robocopy-FX is a young signal service. The trading results showed that the system isn’t well-shaped and so far from being copied. The offer is 3-5 times overpriced compared with other signals from the MQL5 community. These signals have no people testimonials. So, we don’t know if this service is okay and if the system copies these orders lightning quick. The execution speed is the most important part of the work between the master and the slave accounts. We know the best VPS services for working with IC Markets. They have their servers physically placed in NYC where the IC Markets’ Forex servers are.