Forex Truck Review: Be Ready to Spend a Truckload of Cash

An unknown expert advisor developed by an anonymous company is not something you’d likely be spending your time on. The performance graphs on the official website allege huge profits which certainly look enticing.

So, is this a reliable EA tool, or another sham like Caesar Trade? Find out in our Forex Truck review!

Product Creators

Not much is known about the developers of the Forex Truck EA product in question at all. While the website may seem comprehensive and appealing to the eye, there’s still a worrying lack of transparency to take into consideration.

That further deepens our doubts about the legitimacy of the product. When developers have nothing to hide, you’d usually see them post their professional backgrounds and links to their social networks pages like LinkedIn, for instance. Sadly, not in this case. 

In addition, we do not even know the company that stands behind this product. It would be a lot more convincing and relieving to be able to learn about the product owner before deciding to buy anything from an anonymous source.

Hiding the company’s legal information is common for the unregulated broker frauds like Prime Markets, which we discuss all too often on our website.

Legal Terms and Disclaimers

The website quotes a part of the CFTC rule 4.41, which refers to hypothetical or simulated performance results having certain limitations and not necessarily reflecting the true state of things. 

Also, the company behind this product clarifies that no representation is being made that any account will or is likely to achieve profit or losses similar to those shown.

This way the firm selling this product has effectively denied the lucrativeness of their products and has single handedly rendered their statistics as simulated.

What is Forex Truck?

On paper it is an automated trading robot that allows the users to make consistent high profits trading select Forex pairs. The company presents a number of graphs illustrating some interesting usage statistics, like a profit of 18,899,581% during an unspecified time frame.

The expert advisor software is advertised as functioning completely autonomously on both MT4 and MT5 trading platforms. The clients would gain both of these EA versions upon purchase. One thing that distinguishes this EA from the rest is that it functions with two distinct blocks which work in tandem to provide best results.

First Block

The first block provides basic analysis of the market situation, and is responsible for finding entry points. Upon discovering a potentially profitable market shift, it will open a trade and follow the algorithm to make it profitable.

If the market conditions are favorable, the EA might open a second trade in an effort to maximize profitability. In an instance of an unfavorable market shift, the software will close down the trades in a matter that either ends with a small profit or a negligible loss.

Second Block

The second block comes into play when the first block encounters a very unfavorable market environment, and creates an unprofitable situation for the traders, one that it can’t fix itself. The block is designed to quickly end any open trades with a total net profit for the client.

If the EA deems it necessary, the second block will open additional trades, as instructed by the algorithm. This is done in order to compensate for any significant losses the client might incur at the point the second block comes into play.

Risk Control

Multiple risk mitigation tools are already embedded with the EA, and ensure profitable operation of the solution. It functions by setting StopLoss options, and monitoring the trade status in real time so that the client will not lose more money than they’ve bargained for.

The risk control system with this expert advisor is intended to limit drawdowns, and respond to the clients’ own appetite for risk. The end client, however, is the one that sets the overall risk value for the product.

Packages and Prices

With a 30 days money back guarantee, the site attempts to lead users into this investment. By promising their clients’ income to certainly grow thanks to this EA, the site almost efficiently instills the fear of missing out on website visitors. Thank well, though, if you’re ready to pay the demanded amount for each of the products. 

Forex Truck – $349

There’s several considerable benefits advertised that come with purchasing this product. As soon as you activate the tool, you are certain to receive 1 lifetime license of the EA for any account. The EA for MT4 and EA for MT5, comes with a detailed user manual. 

In addition, you have the possibility to change account numbers limitlessly. Lastly, high-quality, user-oriented customer support available 24/7 is allegedly guaranteed. This EA, however, only trades on USD/CAD.

Forex Truck Turbo – $539

The majority of the features that this bundle includes are no different than the previously described. Of course, there have to be some additions to justify the price in the end. 

In this case, besides the EA for MT4 and MT5 with an unlimited number of accounts, several other Forex pairs are unlocked. Those are USD/CAD, EUR/GBP, GBP/USD, EUR/USD. This 1 license is also guaranteed to last a lifetime for any EA account.

Forex Truck Statistics: True or False?

The numerous results of backtesting are posted on this site and they all seem extremely appealing that it’s almost unbelievable. It is claimed that, based on these graphs, it could be predicted how EA will behave in the future, which helps determine how profitable and effective it really is. 

How reliable is this information really? The backtest results allegedly came from the product developer’s real trading account, which makes us all the more suspicious towards the claims. 

Some of these graphs show constant growth that goes in extreme percentages and numbers. For example, Forex Truck USD/CAD Aggressive style engaged made profit of $377,991,626 from just $2,000. Forex Truck USD/CAD Normal style made $3,781,757 from just $2,000. That is thousands of percent profit compared to the starting investment. 

Having in mind the legal disclaimer made about the trading simulation results not necessarily reflecting reality, we’re reluctant to believe the insane profits were achieved in a real trading environment. 

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