Ala Forex Robot is a new automated trading system with a couple of claims to prove. Ala Forex Robot EA is a Forex robot that utilizes the magic of mathematics. The developer whose website is alaforexrobot.com claims that the Ala Forex Robot EA can generate monthly returns of between 10% to 40%, similar to what many internet marketers have claimed in sales page.
On top of this, the developer wants the trading community to know that this is the ”most powerful Forex robot ruling the markets right now”
They have not disclosed their location and experience in the marketplace but their sales page is promising a professional support and free lifetime updates to believe. They can be contacted by filling out a contact form on the sales page
Having said that, we will get into the meat of the details. We want to discuss the features, the draw backs and ultimately providing a satisfactory conclusion of this Ala Forex Robot review.
Ala Forex Robot Review
There is a vast array of features that are associated with this Forex robot. The developer recommends a minimum trading balance of $5,000 although they also want traders to know that the Ala Forex robot can work on a cent account as well.
This definitely looks like an interesting Forex robot being that the price of a professional license is way up to $349 and the developer is giving traders a chance to try it for free. This is your safest bet by the way. It can be a good thing if this trial can run for at least 3 months since the date of download. The reason I like longer trials is because they enable me to get a clear picture of the consistency of the automated trading system.
The developer wants traders to know that the default settings of the robot is optimized to make you a profitable Forex trader with zero trading knowledge.
This is good for the sake of convenience. The supposedly powerful trading robot watches the market day and night and will trade multiple FX pairs at once with an in-built money management system.
Ala Forex Robot Strategy
The developer provides a statement highlighting the trading strategy behind this Forex robot. However, I feel that the explanation is a bit basic in the school of pipsology.
As you can see in the above picture, this developer is basically talking about something that most baby traders have already overgrown. We would have appreciated an in-depth explanation of the trading strategy, how entries and exits are made, how risk is managed and so on. This information has been omitted and replaced by shallow, vague statement.
Ala Forex Robot Result
The website has provided links to their trading accounts. There are at least 1 myfxbook link and 6 backtesting result here. All of these trading results are demo which means the developer is too afraid to test their product with their own money but would rather use virtual money.
We did not bother to ask for a customized backtesting result because of lack of transparency we have seen so far by some vendors. For that reason, we are going to analyse the myfxbook result.
The myfxbook account is actively trading with an initial deposit of $5000 demo amount. This account is mostly trading EURUSD, USDJPY, EURGBP, USDCHF, AUDUSD, USDCAD pairs.
This trading account is hosted by ThinksMarkets. The myfxbook account shows a total of 266 trades since it was created 10th May, 2020. Monthly return so far is 2.76% and draw down is 6.05%. Average win is 20.05 pips but average loss is comparatively huge as it stands at -36.03 pips.
Ala Forex Robot is advertising monthly returns of up to 40% but their trading result is not able to show us consistency in achieving those returns. Furthermore, the trading community needs an explanation of why they are charging such exorbitant price tag but failed to test the EA on a real money account.
We appreciate the fact that Ala Forex Robot is providing an opportunity to test their robot for free and we have also found out that this trial is not limited to any duration or number of demo Forex accounts.
While this kindness is encouraging, there are some questions that Ala Forex Robot needs to address before traders can purchase a professional license. For now, traders who want to use this EA can start with the free plan before committing funds to the Ala Forex Robot.
For the best Forex robots test, check out our list of profitable FX robots to use.