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SmartFXTechnology.com (Frank Goodwin) Review Visit site

Updated: Dec 28, 2014
3.821 · 4 REVIEWS
Is this your company?

Robot-Forex-Trading is one of the products from SmartFXTechnology.com

SmartFXTechnology.com develops automated forex trading software for the MetaTrader platform.  SmartFXTechnology.com's MT4 EAs include Master Scalper and Breakout Hunter for online currency trading. The Breakout Hunter trades EURUSD. The Master Scalper trades EURCHF, EURGBP, EURCAD, EURAUD and USDJPY.

SmartFXTechnology.com (Frank Goodwin)

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3.821 · 4 REVIEWS
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Dallas, USA,
May 14, 2013,

I've been using Breakout Hunter for awhile. So far, the best scalping EA I've ever used. The only problem is that it doesn't trade so often and the profits are small. Other than that, it's perfect.

Looking forward to buying their other EA.
Nigeria, Nigeria,
Oct 8, 2012,

Richard8803, please tell me which broker/account and VPS you use.
Tampa, USA,
Oct 2, 2012,

I have been trading with SmartFX for the last 16 months and consistently have average over 2.5% return monthly in 3 different accounts. Bill, just in case you don't know math either, that is over 30% per year per account and I am laughing all the way to the bank !!!

The thing I love most about the Master Scalper and the Breakout Hunter is their Economic News Filter and Volatility Index - they work like clockwork every time and the EA's stop trading when the market gets weird. Thanks to Robert at SmartFX I have consistently outperformed my brother in the stock market all throughout last year and now he also started trading Forex with the Master Scalper.

For anyone that is seriously considering start trading with an EA, I strongly advise you to check out SmartFX and to talk to them, not only they know what they are doing but they are collectively a bunch of great guys that have your best interest in mind. I can truly say that if you purchase any of these robots and you DO NOT CHANGE THE SETTINGS (like Bill did....) you will not be disappointed. These robots are by far the best in the market today!

Thank you SmartFX -

New York, USA,
Jan 22, 2012,

Regarding the post by Bill The Trader,
On Sept 20th, which is a month after you purchased (and end of the guarantee period) you mentioned that you were in profit 15% per week and wanted to increase the risk. You were told how to do it, but recommended not to do so. Apparently as per your results you did, and now blame us for it.
On Sept 22nd, you emailed that you were getting requotes from Alpari, and numerous "context busy"messages, having to do with your approach of running multiple copies of the same EA on the same pair at the same time, something we told you not to do.
All in all you changed the strategy, increased the risk, and did everything we told you not to do.
Now you come 5 months later saying that even in December, while every member of this Forum made a substantial profit, you also had losses. Obviously your changes to our default did not work, but you are blaming us.
We cannot be asked for a refund 5 months after purchase and after going against default settings and advice, and still expect to be responsible for your irresponsible handling of the trading tool.
bill the trader,
boston, USA,
Jan 19, 2012,

Well, I gave Master Scalper and Break Out Hunter from robot-forex-trading dotcom and smart fx technology a good try. Basically all they did was lose money, despite the risk management hype. The good reviews you read are because the support people are good and helpful (except when asking for a refund), or the EAs worked short-term, or were written by smartfx; unfortunately their EAs cannot handle a longer-term market, which is all that counts. Even if an EA does not make much money, which is OK, it should not lose half your money in a week.

Asked for my money back and they refused. They only refund for 30 days but, of course, you must demo only during that first month - and real account testing is always different. But I lost far more in my accounts than the cost of the EAs so the loss of a refund is not a big deal. Lost 40% in one week with Master Scalper and 50% of another account with Breakout Hunter - and these were real money live accounts! Those are just the unusually fast losses; lost more, but more slowly, over a two-month period.

How can a Scalper lose for two months straight? Two months of losses are understandable with a break out trader but very unusual for a scalper. Such short and long-term losses prove that something is wrong with both the strategy and the risk management.

Note that the "back-tests" on their webpage have only a 25% modeling quality, not the standard 90%, so Big Red Flag - apparently they could not come up with real back-tests that were actually profitable. Strange also that they mention 4 years of successful back-tests but only show 3 years at 25%. Another red flag. Smartfx had two forward tests running on myfxbook, but they were immediately stopped in November when they started showing losses: red flag #3.

Master Scalper and Break Out Trader blew my two live accounts in December and January, so my expensive review of these two Eas ends sadly and badly. Their risk-management hype sounds good but simply does not work. I was surprised that a non-Martingale/grid robot could lose so much so fast - and on conservative settings. Also tried using just the two Master Scalper pairs with the best reward/draw-down in addition to both a modified and a complete portfolio approach (with all pairs trading). Note that my losses were caused by the EA's consistent bad trades and poor risk management and not margin calls.

I can't recommend these EAs; their live account performance is much worse than their back test or demo test results, the strategy and risk management does not work except possibly in mild markets, there is no refund to speak of, the forward testing was stopped when it started showing losses, and the company's back-tests are designed to mislead prospective buyers.
Long Island, NY, USA,
Dec 22, 2011,

I have been involved with Smart FX Technologies since November 2011 after I purchased their two products (EAs) Master Scalper and Breakout Hunter. I have been running these EAs on a Demo account to see how they perform and how the company's support fairs.

The cost of the product I consider to be a bargin. That being said, my experiences with "Bargin" EAs has not been all that positive with either the EA not functioning as told or the support not being there. With Smart FX's products and support, this has not been the case.

I first became aware of Smart FX from a Forum thread on Babypips.com. I was on there to take their free educational trading track to learn more about Forex. I began to read the 60+ forum pages that this thread had garnished and by the time I reach the end (Yes, I read the whole thing!) I felt I needed to try their product and see what I read was true.

I created a demo account of $1,000 with 1:50 leverage through Forex.com and MT4. I set up the 6 pairs and added each EA to the appropriate chart with its default settings and let it run.

In the beginning, it was looking like it was going to perform like so many other EAs have done. However, letting it run for the full 30-day demo period, which was also required to earn the Money Back Guaranty, allowed it to get into its stride. You can see my results at http://www.myfxbook.com/members/CruisingLife/ms-bh-demo/202748.

I had little problems with installing and running the EAs. However, I had questions about its functions and how certain aspects of the EAs worked. Functions like the "No Trade" days and adjusting risk. Robert from Smart FX was responding to all forum request within 24 hours. Additionally, he was responding to e-mails sent from the MS/BH website as well as private e-mails from the forum. He gave and explained the answers and gave suggestions on how to make it run with a particular broker, VPS and other points to help make the support call effective.

Although I did not need it, there were cases where Robert or a team member remoted on to the users workstation or VPS and help to fix the issue at no charge. This was unheard of by me before.

I would highly recommend that you read Smart FX website and the entire forum on Babypips.com before you consider buying these EAs. I would write to Robert via e-mail or on the forum to ask questions before you buy. If and when you do buy the EAs, you will be getting strong support on two of the most successful EAs I have seen in a long while.

Happy Trading!
Kevin Redfern,
Leeds, United Kingdom,
Dec 18, 2011,

I am surprised that no one has given a review on this excellent company. It could be that anyone purchasing these EAs buy them from their company name which is Smart Fx technology. They also might be better placed in the EA review section.

I am new to forex trading, I have only been learning for around Eight months, because of time restrictions I decided to look at using EAs while trying to learn to trade manually, then I can use a combination of the Two.

I found out about Smart Fx from the babypips website that I am a member of. On babypips there is a forum page dedicated to expert advisors and automated trading. The person who started the Smart Fx thread is well respected for his honesty when testing various EAs (sorry can't give you his name as I have not asked his permission.

Smart Fx was invited onto babypips to answer questions about their EAs and they accepted. Nothing seems to be to much trouble for them.

I personally have had hours spent on me, not because anything is wrong with the product, but because of my inexperience. When I bought the robots I had trouble installing them (again lack of experience on my part) Smart Fx came to my rescue and put them onto my trading platform via remote control.

Because of connectivity problems ( the computer has to be left on during trading hours when using robots) I decided to use a vps service, not only did Smart Fx move my robots to the vps theyalso set up my vps as well. All this was done free of charge. I have sent dozens of Emails to Smart Fx and the responce has always been prompt and helpful.

The robots do everything that Smart Fx say they do, they use these robots for their own trading, before and after news events they automatically stop trading, these EAs really do seem to be set and forget.

Giving the little experience that I have in forex. If you are looking into trading with robots I would advise you to take a very good look at Smart Fx or alternatively have a look at the thread on babypips as most of the guys and girls on here have far more experience than me.

The one thing I can personally guarantee is anyone who buys these robots will not be disappointed with the after sales help that this company gives.

I will be live trading in the New Year, and will keep you updated with my progress.

A big thanks to John, Robert, Hugh and the rest of the Smart Fx team