Control Forex uses three different servers to maintain its trading operations. It continuously scans 25 trading pairs for opportunities and enters a trade only when they are all satisfied. Our article will discuss all the features of Control Forex and discuss the statistics to determine if it is profitable or not.
The company fails to give us information on the whereabouts of the people behind the program. We are left stranded while trying to find out the experience of developers. This type of approach is poor in the financial markets.
Control Forex at a glance
|Price||15% to 50% performance fee|
Control Forex functionality
The robot has the following features:
- It only works on the MT 4 platform
- The robot trades on multiple currency pairs which differ from one program to another
- It comes with three different investment programs that traders can choose
- It runs on three different servers, so if one is out, the other two work efficiently
- Provides verified statistics for all the systems on Myfxbook
- Traders can use any type of MT 4 broker for trading
- The team has more than 12 years of coding experience
There is no information present on the inputs of the algorithm. This is again a poor activity by the developer.
Control Forex trading strategy tests
Looking at the trading history on Myfxbook, we can see that the expert advisor uses grid and martingale strategies. The average trade duration is three days which conforms to a swing trading approach.
There are no backtesting results available that can guide us on the performance of the system for an extensive duration. The expert advisor might likely have failed during backtesting as it uses a risky grid and martingale strategy. These types of strategies do not work when the market trends extensively in one direction.
Control Forex robot real trading results
Real trading results are tracked via Myfxbook, which shows performance from July 21, 2020, till March 02, 2021. Since then, the robot has had an average monthly gain of 41.70%, with a drawdown of 40.30%. The drawdown value is comparatively high, which depicts that the algorithm loses nearly half of the initial account balance during trading. There were 310 trades in total, with 144.16 lots traded. The expert advisor traded with a winning rate of 65% with a profit factor of 2.49. The best trade was $4352.28, while the worst one was -$1534.57. Multiple currency pairs were utilized for trading.
The other trading accounts offered by the developer show similar value of drawdown or slightly less. They trade on a single or more currency pairs and differ in the amount of monthly gain which can range from 6 to 20%.
There are no customer reviews present on Forex Peace Army and Trustpilot. This shows that traders are afraid of investing their cash in a system that uses extremely risky strategies. They may also take into account the high drawdown that the EA has on the records at Myfxbook. Without any feedback, it is impossible to note the experience real market participants have, which is a turnoff in terms of investment.
Control Forex Robot Review SummaryControl Forex Robot
Functionality2/5 BadThe robot works on MT4.
Trading strategy2/5 BadThe developer fails to disclose the strategy properly.
Live Results2/5 BadLive results show performance with little to no gains.
Customer support2/5 BadCustomer support is available only by filling a form on the website.
User reviews2/5 BadThere are no customer reviews present.
- It comes with verified trading records
- Use risky martingale and grid strategy
- No transparency of developers
- It only works on MT4