VIP Trading Club

Posted by & filed under Forex reviews, Passive income.

We have reached the end of our 3 month trial of the VIP Trading Club from Robo Forex and here are the final results:-

 

Profit/Loss:   -$485
Trade Success Rate:   65%
Bank Growth:   -73%
Cost:  50% commission on weekly profit    
Average number of trades:   23 per day
VERDICT:  FAILED
Rating: 1.5 out of 5.0 stars

 

You can view full results here.

 

VIP Trading Club – Full Review

 

Robo Forex have a number of different traders and strategies you can follow on their CopyFX platform, one of which is the VIP Trading Club.

Coming into our review it was the number one rated service on the CopyFX platform in terms of profitability, so we felt it was worth testing out.

Getting things set up to follow a trader is quite a convoluted process however which involves:

  • Setting up a Robo Forex account;
  • Setting up an MT4 account;
  • Depositing funds;
  • Signing up to copy the VIP Trading Club;
  • Then connecting your MT4 account;
  • Choosing your following level – then finally you are ready!

Anyway, after doing all that we were keen to give this a go and see how it performed under live trial conditions given the previous results.

Sadly we were very disappointed as the results were pretty terrible to be honest.

After three months we had lost over 70% of our starting capital, with a loss of $485 made. Given those losses, at that point had to call it quits.

We didn’t really see any evidence of how this trading strategy is profitable or what it is doing.

Plus on top of that, you have to pay a very large 50% in commission on any profits made over the last week.

The problem with that is not just the hefty commission level in itself, but also the fact that you could have a number of losing weeks, be well down, then they happen to have a profitable week and you have to give them half of your profits for that week!

In addition to that we were concerned by the risk level used. We chose the “proportional” setting for our account, thinking that would be a careful setting and preserve our capital. We enquired as to how exactly it worked and what was meant by “proportional.”

We were given a cursory response by their customer service representative which did nothing to clarify the parameters of how they calculated risk but they assured us an appropriate level of risk would be used.

We suspect this may have had something to do with the large losses made, in the sense that the risk levels were in fact too high despite the assurances we were given.

In any event, whatever the ins and outs of the risk settings, the bottom line here is that with a substantial loss made this has to receive a FAILED rating from us.

 

Service Breakdown

Ease of use: Setting up the copy trading was a little complicated as described above but the good thing is that once it’s set up you can just let it run in the background.

Transparency of results: The results on the CopyFX website do show all the trades including the significant recent drawdown so there does not appear to be in issue in terms of transparency.

Did our results match those on their website? We had some problems with our VPS so missed a few days of trades but other than that it appears to have copied accurately.

Trade success rate: The trade success rate for the trial was 65% which is fine in itself, but obviously in this case was not good enough to generate a profit and the losing trades were for higher amounts than the winning ones.

Subscription costs: It is free to set up but you have to pay 50% commission to the trader on any profits generated over the last week, which as we have said can have a perverse effect if you are down overall but then happen to have a winning week.

 

OVERALL VERDICT: FAILED 1.5 out of 5.0 stars

Despite having the number one results on the CopyFX platform at the time we began this review, the VIP Trading Club ran up a big loss during our three month trial, wiping out over 70% of our starting bank.

For that reason it receives a FAILED rating from us and is not one we will using any more.

 

 

 

 


VIP Trading Club (Robo Forex) – Results Update

29th January 2021

It’s been a very rough time for the VIP Trading Club on the Robo Forex CopyFX platform, with a loss of $326 made since our last update.

That means they are now $282 down for our trial overall including fees and commissions.

You can view full results here.

Unfortunately from a starting balance of $667 that represents 42% of the bank lost, which is disappointing to say the least.

At the outset we had concerns about how Robo Forex allocated risk in their copy traders and after contacting them to discuss it we received a cursory response which did nothing to allay our concerns.

Our worries are now being borne out in real time with nearly half our bank being lost. In all honesty if things don’t turn around soon this will receive a failed rating.

 

 

 


VIP Trading Club (Robo Forex) – Results Update

29th January 2021

In terms of closed trades it’s been a slightly better period for the  VIP Trading Club on the Robo Forex CopyFX platform, with a gain of $48 made since our last update.

That means they are now $44 up on closed trades for our trial overall, including fees and commissions.

You can view full results here.

However, what isn’t such great news is that the open trades currently sit $152 down, which is quite a big portion of the bank and a little worrying.

So we have to hope those trades turn around soon and don’t end up making a big loss and denting the bank.

 

 

 

 


VIP Trading Club (Robo Forex) – New Review

13th January 2021

It’s been a quiet start to our trial of the VIP Trading Club on the Robo Forex CopyFX platform, with a loss of $4 made so far.

You can view full results here.

Interestingly the trades themselves have actually shown a profit so far, with $46 profit made. However, once you take into account the $50 we have had to pay in commission to the VIP Trading Club it leaves us with a loss overall.

That should be something of an anomaly really as obviously you are only meant to pay commission if you are in profit. However, the fact that they deduct their commission weekly means this can happen if you have a profitable week one week followed by a losing one the next.

We should also mention that the open trades are $17 down, so when you look at the overall picture so far it hasn’t quite met expectations.

Anyway, it is still early days so hopefully they can get going and start delivering us some profits – even when we take their commission into account!

 

 

 

 


VIP Trading Club (Robo Forex) – New Review

29th December 2020

Today we are starting a new trial of a copy trading service from Robo Forex called the VIP Trading Club.

Robo Forex have a number of different traders or strategies you can follow on their CopyFX platform, but this one in particular piqued our interest with the published results achieved to date.

It is the number one rated service on the CopyFX platform in terms of profitability, with over $124,000 profit made to date and 431.70% in growth according to the results published on the Robo Forex website.

Of course past performance is no guarantee of future results, but it looks worth testing out anyway.

The main forex pairs it trades are the GBP/USD, EUR/USD, EUR/JPY, USD/JPY and a few others.

The max drawdown to date is 28%, which isn’t too bad and certainly better than a lot of the other traders/strategies on the platform – some for example with 90% drawdowns!

We have set up an account and it’s a little bit of a convoluted process as you first have to set up a Robo Forex account, then an MT4 account, then deposit funds (although not to your main Robo Forex account, unless you then want to transfer the funds across), then sign up to copy the VIP Trading Club, then connect your MT4 account (which needs to be funded), choose your following level – then finally you are ready!

The only downside we can see is that they take quite a high commission of 50% of any profit they make you per week, but if they are making big profits then hey, we can probably put up with it.

Anyway, this looks promising and we like the idea of having a potential passive income from it. As usual we will update results here as we go along.

In the meantime you can check out the VIP Trading Club from Robo Forex here.

 

 

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