Company : Forex Killer System (click to visit company site)
Cost : $89
Guarantee : 100% Money Back
Description : Although not exactly a Forex robot*, the Forex Killer system is still worth mentioning in this review as it does provide good automation features and has the benefit of being compatible with any forex brokerage software system (although it best integrates with MT4, DealBook360 and Trading Station).
This software does not provide 100% automation like FAPTurbo and Forex Autopilot do. Instead it alerts the trader of possible profitable trades and suggests take profit and stop loss levels as well as predicted probability of a successful trade, leaving the actual decision to the trader. The trader will then use these values to open trades with the broker. The trading process is "semi-automatic", because once entered, the trades will not require baby-sitting, as the stop-loss and take-profit levels suggested by Forex Killer will automatically close the order when the corresponding level is reached.
Although this is not complete automation, it is actually considered a "good thing" by those folks who don't feel comfortable with a robot opening and closing trades in their account without any supervision or action on their part. The biggest disadvantage of the Forex Killer software is that the Forex book that comes with it is VERY basic, so if you're new to Forex you'd be wise to look for other sources of Forex education (hey, why not sign up for our free Forex eCourse - just enter your name and email in the form above and we will send you your FREE Forex Basics course in the email!)
* Feb 2009 UPDATE: Forex Killer Now Completely Automated!
The Forex Killer developers have recently added a plug-in module called Forex Killer Automater (AutoFxK) to the Forex Killer system. This software, developed by A. Alexander John allows users to automate their Forex Killer trading completely via the Metatrader 4 platform. AutoFxK acts as an interface between Forex Killer and MT4, loading the price feeds into ForexKiller and opening/closing trades for you automatically!
Those who prefer the manual trading style may disable (or simply not install) the plug-in and trade as before.
The add-on is available as a FREE download to all Forex Killer System users.