Forex IvyBot Review
(Last updated 10th of August, see bottom of article)
Forex IvyBot launched onto the market 1 week ago, and I thought rather than do a Forex IvyBot Review at launch time, it would nice to do one a week later, so that I could reflect on how the robot has performed so far. Forex IvyBot has certainly been popular, and has been brought by a large number of people in a very short space of time. The reason for this is that Forex IvyBot has some key differences from other forex robots currently on the market.
The Forex IvyBot Review
Our Rating : 4 /5 (= “Try It!”)
With our Best Price Guarantee!
Or keep reading below for our full Forex IvyBot Review.
Forex IvyBot Review – What Are These Key Differences?
Some of the key unique selling points of IvyBot include :
- It’s not one Forex Robot, it’s FOUR! Yes, Forex IvyBoy consists of 4 Expert Advisers – one each for the EURJPY, EURUSD, USDCHF, USDJPY charts designed to work on H1 timeframes.
- Unlike FapTurbo, IvyBot is NOT a scalping robot. Instead, IvyBot measures the varying strength of trends at present time frames using carefully constructed algorithims, and then when price fluctuations start to happen it takes a position.
- IvyBot is able to update itself both in terms of software and in terms of what trends it is taking positions on. For example, its algorithims were updated more than 50 times during the financial crisis of 2008 thanks to a dedicated team of programmers.
- 5 fulltime support staff to ensure that any support queries are answered promptly.
- You can start trading with as little as $50 in your account. (At time of writing there is actually a $500 credit trading bonus on offer too!).
Forex IvyBot Review – Is This Just Another Shady Scam?
I’m the first to admit that I’ve been less than impressed with what has happened post-launch with many of the Forex Trading robots lately. Some products have suddenly vanished from the market with no support remaining, others have been cheap copies of other robots, and most of them have been created by fly-by-nighters with no real interest in turning a long term profit.
Forex IvyBot has actually been created by some of the people that were responsible for Forex Brotherhood, which was an exclusive trading community with a highly successful trading robot. Unfortunately that trading community is no longer avaiable, but that’s good for you as that same team has now turned their attention to Forex IvyBot.
Forex IvyBot Review – 1 Week On, What Are The Reports?
Admittedly there’s not quite as much genuine feedback as I would’ve thought, but it can take some time for Google to find this.
The main complaint so far is that currently IvyBot only runs on 4 digit brokers. A couple of years ago this wouldn’t have been a problem, but now many brokers run on 5 digits. The IvyBot support team in fact say themselves :
Keep in mind Ivybot is not meant to run on 5 digit brokers (but the update will be available shortly) … remember IvyBot has recommended brokers.
So currently IvyBot won’t work with your 5 digit brokers, but there is an update coming soon. Their “workaround” in the meantime is that you use their recommended brokers.
Certainly not ideal … but they are clearly aware that it is an issue for many people.
Forex IvyBot Review – 2 Weeks On, Some Further Details
It’s now almost two weeks since Forex IvyBot was launched. Based on feedback on the forums I follow, it does appear to be making successful trades for people, although perhaps not as many trades as people would like – however there is a scalping setting if you want to set the robot to do that.
For those curious about how the robot works, here’s some more info from one of it’s users :
The basic robot is suposedly a trend follower. It gets most of its data from the higher time frames, H4 and Daily, and uses the H1 for timing. It relys on Linear Regresions and Trend Channels for the overall trend analysis, and divergence between two RateOfChange incicators to determine strength. There are also a few details they werent willing to disclose.
Source : ForexPeaceArmy
So still not a huge amount of trading results at the moment, but as always, with a 60 day refund period, well worth giving it a try.
The Forex IvyBot Review
Our Rating : 4 /5 (= “Try It!”)
With our Best Price Guarantee!
Forex Trading Systems 4 You – Forex IvyBot Review
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