Forex Detector wants to be the Sherlock Holmes of Forex Robots. Claiming to be able to detect its way to superb profits, it promises to stay awake all night as it works tirelessly for you -- but will it really bring you profits? Find out in our Forex Detector Review.
The Detector was released onto the market in early December 2009. It trades on the EUR/USD currency pair and like most Foreign Exchange Robots does its work based on the MT4 trading platform.
When I first visited their website I have to admit, I was a little dubious as the site makes large promises and the team appear to have problems spelling algorithm -- sure, that might be a minor thing but when investing money in a product you often expect errors like this to just not be there.
However as I investigated further I learnt that the although the website had been done in a hurry, the product itself has been well engineered. In fact, the Detector has been designed by the same team that in the past created Forex Funnel and Forex Tracer, two very successful Foreign Exchange Robots. Therefore, they do have very good software design credentials.
The Detector is designed to be a high profit trader. In the world of Foreign Exchange Robots, that basically means that it's risk / reward structure is slightly more highly geared, and therefore it is better suited to those who have a slightly higher appetite for risk. Of course, the trade off is that the slightly higher risk has the potential to bring you much higher rewards.
Features of Forex Detector include :
• Trades on the 30 minute EUR/USD chart
• Works with any MT4 broker.
• Designed to make use of multiple trades in order to increase profits at a much higher rate than other forex trading robots.
The Detector website claims that it is able to clear a profit of more than $10,000 in one day. Such claims should always be taken with a grain of salt, but the most important thing is that it makes you a profit and the evidence suggests that Forex Detector is more than capable of making a good profit for you.
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