Forex Range Trader System Review

The Forex Range Trader (by Peter Parsons of FellowTraders.com) is a leading “Expert Advisor” (EA) script which works with Meta Trader 4 to initiate up to 24 trades daily.

The website for Forex Range Trader claims to have the software running at 94% success rate whilst running unattended (where’ve we heard that before?). Some of the sales-speak on the Forex Range Trader website speaks of allowing your computer to become a “cash machine” just by leaving it on all day.

What’s more, this system is sold as providing a huge 15% monthly profit. This means that if you let this forex system handle $10,000 a month, it will effectively earn you $1,500 totally hands-free.

Let’s take a look at what Forex Range Trader has to offer us…

Forex Range Trader System Overview

ForexFromScratch awards this product: 2.5 / 5

As you’ll probably agree, the sales speak for the Forex Range Trader software is typical of this industry – full of “over the hill” promises which seem too good to be true.

We’ve seen it all before – forex systems offering a seemingly “automated” solution to earning a considerable amount of profit from doing “nothing”.

And it’s backfired on them completely. All the reviews and comments we could find all pointed to a system which just about works but does so in the most inconsistent way possible. Not only does it under-deliver on its ability to trace trends and inform you about signals but it’s also a very difficult system to learn and master.

All in all, it *could* work under the right conditions but none of us would ever put any of our own money at risk by “letting it loose” on the markets.

-------------------------------------------------------------------------------------------------------------------------

Click Here For Forex Range Trader's Website

...Or continue reading for our full review
-------------------------------------------------------------------------------------------------------------------------

What The Forex Range Trader Claims To Do

Like its counterpart Forex Tracer, Forex Range Trader claims to give you an entirely automated solution for your trading needs.

In fact, it goes so far to announce that you can almost guarantee profits just by “turning your computer on in the morning”... which is something we've definitely heard before and are very tired of (unless it actually works)

With a wide array of impressive features that even the most experienced of forex traders would give their left leg to have at their disposal, it’s hard to believe this software isn’t being sold by the million…

Here’s just some of what it claims to give you on their website:

Calculates trade size from account balance
Designed to trade top currency pairs (especially EUR/USD)
Automatically replaces exited trades
FellowTraders own servers take much of the processing power needed – making system requirements minimal.
Will compound Trade size as account balance grows.
Places all pending Trade grids automatically (up to 200)
Every trade has attached protective stop

Although it sounds good, the truth couldn’t be more of a contrast.

What Forex Range Trader Actually Does

The cold hard truth about Forex Range Trader is that it’s no way near as powerful or effective as what the website leads you to believe.

Not only is the software experience and interface woefully bad but the software is also inconsistent, unreliable and sometimes incredibly slow.

Because the whole software has to use your Internet connection to retrieve a lot of data which the program needs to operate, it can make your computer & internet connection exceedingly slow and the program dormant until it retrieves the information it needs.

Many people have reported a program which is “hit and miss” and considering that it promotes you let it loose with your money, this could be a very bad thing. Some people reported seeing some good results only to find their accounts depleted after the next “automated” trades went through.

Conclusion

The bottom line is: Forex Range Trader isn’t a forex system worth investing a lot of time into.

It’s got the credentials on paper to be a highly successful and quality product, but in reality (as hundreds of unfortunate and despondent customers have pointed out), it is actually very bad at its job and doesn’t deserve much of your time.

The only way we could ever be as trusting in this system as with other systems is if the results came through that proved its claims and showed us that it could handle out money properly… and not in some sporadic frenzy of guesswork trading...