Pterodactyl Forex Robot is a Meta Trader 4 compliant EA that trades on all types of currency pairs. It is claimed to be an intelligent system that is heavily coded to trade on trend and retracement. The seller claims that it is a more advanced version of their Fractal Breakout Forex Indicator. We will review this bot below to see if it can be a good source of profit for the general community.
Pterodactyl Forex Robot strategies and tests
The algorithm executes trades based on the current market trend and enters the market whenever it sees a possible retracement. It automatically scans monthly to minute charts and uses money management to limit the risk.
The trading history on the custom records on the website shows us that it can trade on multiple currencies. It can place a small stop loss of 20 pips on each execution and trade on random intervals.
The service has the following features:
- It trades on all currency pairs.
- The EA can be set up very quickly in minutes.
- The system trades on multiple timeframes automatically.
- It comes with robust stop management and trade closure options.
There are no proper backtesting records for the system so we took into accord one of the previous stats available on the website.
Backtesting records were analyzed for January 2010 reported in the USD currency. Balance stood at 185,819.43 USD with an equity of 187,369.13 USD and the total net profits were stated as 13,295.53 USD. The profit factor was shown as 4.88 with an expected payoff of 236.83. The maximum drawdown was reported as 0.27%, which seems a bit unrealistic. The bot made a total of 85 trades, of which 23.53% resulted in a loss.
Pterodactyl Forex Robot live trading account review
Live trading results are present for this bot on the website. We inspected the results for May 2022. From there, it can be seen that the initial unknown deposit was converted into a total net profit of 38 593.50 USD. The profit factor stands at 4.69, and the expected payoff has a value of 143.66. The maximum drawdown value is stated as 0.01% on 414 trades, of which 26.57% resulted in a loss.
The plausibility of these results is low because they have not been verified by a trusted source like Myfxbook, FXStat, FXBlue, etc. Therefore, they might be subject to manipulation.
This system is sold for an asking price of 49 USD for the MT4 platform. This seller accepts payments through PayPal and credit cards, however, a digital transaction security system seems absent. The vendors state that they do not provide the users with a refund. Also, information about the availability of essential features like customer service, a detailed user manual, and post-purchase updates seem to be lacking. This reduces the attractiveness of this product offer.
Is Pterodactyl Forex Robot a good system to rely on?
We were able to locate a lot of negative reviews about the developer of this robot, Don Steinitz, on Forex Peace Army. The trusted third-party site, which serves as an unbiased source of feedback for interested users, rates this seller with a 2.251-star rating for 271 reviews.
An angry customer comments that the author is not keen on providing good customer service. They also complain that the EA has not even made them a cent since installation. This raises some grave concerns about this algorithm.