Automic Trader is introduced as a new system that can help you to earn stable income from Forex. The devs assure customers that it doesn’t need any trading experience. Let’s assess the robot to find out if you should invest in it.
Automic Trader was created by LeapFX, a company that produces Forex robots. However, the team behind its activities remains anonymous. Their names, qualifications, and trading experience are not in the public domain. This does not sit well with us because vendors who hide their identity are incompetent, most of the time. Therefore, you need to be wary of their product.
Automic Trader strategies and tests
This robot has a few features, which we have compiled below:
- Detailed setup guide with recommendations
- Full customer support
- Free lifetime updates
- Fully automated system
Automic Trader mainly trades six specific pairs: AUDUSD, EURGBP, EURUSD, GBPJPY, USDCAD, and USDJPY because, according to the devs, these instruments ‘trend’ well. They are said to have more than 100 pips daily. So, when trends on each of these pairs begin to form as a result of momentum and volatility, the system identifies entry opportunities and subsequently initiates trades. A dynamic auto adapting trade management system is also used to ensure that profits are maximized before exhaustion.
The devs admit that they ran some backtests on EA’s strategy, but for some reason best known to them, they do not share the results with us. This raises doubts about the reliability of the strategy.
Automic Trader track record review
Below we have the live results of the EA on Myfxbook.com.
These results tell of a system that earns profit but at a higher cost. The monthly (15.35%) profit and the drawdown (32.95%) give a risk/reward ratio of 2:1. It means that the EA risks $2 to only obtain a $1. This isn’t economical. So far, a profit of $1913.83 has been made from a deposit of $1000, growing the account by about 191.44%.
There are 241 trades with success rates of 79% and 76% for long and short positions, respectively. More losses are recorded compared to wins. That’s why we have an average win of 30.98 pips that is less than the average loss (42.14 pips) by about 11 pips.
The system is very busy on Wednesday. It seems that it doubles up its activities on this day.
The EA’s performance has dwindled significantly since August. If this trend continues, then we foresee lesser profits in the coming months.
The account is at high risk of ruin, and this can be attributed to the EA’s dangerous approach.
The two pricing packages for this EA are not cheap. The one-year package goes for $497, which is twice higher than the average price in the market. The lifetime membership license has a heftier price tag-$697. Both packs feature free updates, a 30-day money-back guarantee, and a $100 bonus guarantee, among other characteristics.
Is Automic Trader a scam?
Yes, it is. The devs promise that the system can earn you stable income, but its high risk trading activities are a threat to your investment. So, there is no guarantee you will make good money with the EA, leave alone keep it.
There are a handful of customer testimonials for Automic Trader on its official website. However, we doubt their credibility because they haven’t been verified.