We spent more than a month fully testing Forex GridBot Forex Robot. This is our final Forex GridBot review. Will it be Confirmed, Plausible, or Busted?
Forex GridBot Review – Purchasing
- Fast and Easy
- No Upsell Pages
- Required broker account number prior to activating
- Download was easy to understand and complete
There are a number of ways to validate a legal copy of a robot. Frankly, I hate the idea of having to give my broker account number to activate the Forex GridBot. I mean, really, why not ask for my social security number and bank account number while they are at it? However, I’m sure all it really did was verify that the robot was being used on one, and only one, live account.
Forex GridBot Review of purchasing is Confirmed.
You can purchase it here (but read the rest of the Forex GridBot review first):
Forex GridBot Review – Installing
Some robots have and automatic install, or a one-click install procedure. Not Forex GridBot. Here is the process to install Forex GridBot:
- Put file on desktop.
- Follow the Install Manual instructions.
- Put the .ex4 file into the Experts folder of your MetaTrader software.
That’s all there is to installing Forex GridBot. The user manual is quite well done, and very easy to follow. Even if you have no experience with computers or Forex, it should only take you 5 to 10 minutes to install this robot.
Forex GridBot Review of ease of installation is Confirmed.
Forex GridBot Review – Performance
- Makes a LOT of trades (105 trades in a month)
- Trades on grid based system
- Has multiple trades open at a time (cannot be used with US based broker after July 31, 2009)
- Looks for 19 pip profit taking per trade
- Large losses on losing trades
- Stop losses range from 50 – 100 pips, for a 19 pip profit target
- Moderate risk/reward ratio (5:1 in our testing)
After more than a month of testing, Forex GridBot wound up with an overall loss of $3,366.5, down 33.7% from our initial balance. The Forex GridBot started off bad, and got worse. There were several winning trades throughout, but it never could make up ground on the losses.
Other members were seeing the same horrible results with Forex GridBot, except one. Overall, I don’t think many people had any success with Forex Gridbot.
Our Forex GridBot Review of performance is BUSTED.
Here is our actual live forward trading Forex GridBot account statement:
Forex GridBot Review – Customer Support
We had contacted Forex GridBot support on a few occassions and received prompt curteous replies. The problem is that their replies consisted of asking us for more information that we had already provided. Then, we sent the information they asked for again, waited and never got a response, or resolution, for any of our support questions.
Our Forex GridBot Review of customer support is BUSTED.
Forex GridBot Review – Readers Comments
Here are a few comments from our users regarding Forex GridBot Review:
M.R. – Been following your grid bot results on your website I must say they are terrible! I have similar results (TERRIBLE) on my live acc. THE FGB has lost me nearly 500 dollars thats half my acc.in this week
& that’s real money! I have contacted support & they simply said maybe I have the settings messed up or the FGB just had some bad days!…
Mike -because I had big losses on my live account during the last 2 trading days with Gridbot, I decided not to trade with with it on tuesday. Therefore I changed in the settings stop now to true and additionally the lot size to 0. When I checked later my account because I had some open trades from manually trading, I saw 2 open grid orders and in the history 4 already with loss closed grid orders…
Josh – Hey there. I just came across you site. I have been testing Gridbot on demo for five weeks now, and have seen awesome results. I was shocked to see your trade report, as it looks very much like mine, only inverted!…
Forex GridBot Review – Summary
Based on our testing and comments from some of our readers, we have come to a decision regarding our Forex GridBot review.
- It only had a winning percentage of 54.29%.
- The losses drastically overpowered the wins.
- The risk/reward ratio is moderate at 5:1, but with a win ratio of just over 50% means it will lose money overall.
- The win ratio and profitability is nowhere NEAR the developer claims.
- Forex GridBot support refused to answer any questions or offer any advice as to helping their robot become profitable.
Overall, our Forex GridBot review is BUSTED.
We recommend you staying far away from Forex GridBot.
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