We had an opportunity to test several Forex Robots distributed by IticSoftware, and their products' performance were generally consistent and predictable.
In the past, we purchased the Infinity, Chinchilla, and the Forex-USD/JPY, which provided us with impressive profits in certain markets. We ran the Infinity, X06, and Chinchilla EUR/CAD on our live account, while simultaneously running Upstream and Forex-USD/JPY on a demo account. Readers should consider the fact that our findings are based on recently completed tests, and are not long-term test results. Of the products tested, Infinity has been the most profitable out of the three, followed by closely by X06, and then Chinchilla.
Word of Caution
We would like to issue a word of caution with Chinchilla. It has a much bigger drawdown than what IticSoftware’s backtests reveal. There were also disparities between our forward test results and company results. However, recent market trends have allowed it to recover most of the losses. We ran a demo account on Upstream Forex robot, and we have yet to see profits.
Room for Improvement
Forex USD/JPY is another system that continues to be on our demo account, but continues to underperform. We intend on purchasing and evaluating additional Forex robots from IticSfotware, and we will report our future findings and expert opinions with the readers. Despite having some products that haven’t proven entirely successful, we believe that most of the company’s Forex robots are suitable for live accounts. It is our understanding that the company is currently developing additional systems, which we expect will perform better than their predecessors.
Importance of Live-Testing
Unlike the skewed Chinchilla results that were released by the company, future Forex robot results will be based on live accounts and not backtests. Unlike live testing, backtest data can be manipulated by choosing specific historical time periods that can make any system look successful.
Despite the occasional bump in the road, IticSoftware continues to have a solid reputation. We are generally satisfied with the majority of the company’s products and customer support team. The company also has in-house programmers that can develop a variety of different Forex strategies that are congruent with traders’ preferences. Our team of Forex experts ultimately chose to ranks IticSofware Forex Robots with three stars, due primarily to the disparity we saw between the company backtest data and our live account results with Chinchilla.