Forex Flex EA Review

Forex Flex EA

The robot has 12 strategies that can be used to trade the markets from a different perspective. It works on all currency pairs and has built-in money management features to help minimize the risks. There are various built-in features that the company openly boosts about that are common in almost every other expert advisor. A trader can utilize the members-only forum to discuss the potential outcomes of the system. 

Transparency is one of the major concerns in judging the authenticity of any expert. Failure to provide any knowledge in this regard raises concerns over Forex Flex EA. The company fails to give any information on the developers.

Forex Flex EA At a Glance

Price$399.96
Trading PlatformsMT4 and MT5
Currency PairsAny
Strategy12 trading strategies that are undisclosed
TimeframeN/A
Recommended Deposit$1000
Recommended LeverageN/A
Money ManagementYes

Forex Flex EA Functionality

The robot has the following features:

  • It comes with free updates and members-only a forum
  • Includes 12 strategies with support for all currency pairs
  • It has a built-in news filter and money management feature

Money management settings increase or decrease the lot size depending on the equity of the account. News filter avoids opening any positions during important economic events. There are also drawdown stop-loss settings, which can close all the positions if your account reaches a predefined minimum threshold. Session filters can help determine which time the robot should trade. The company offers highly optimized set files, which are only available for those who purchase the expert advisor. 

Forex Flex EA Trading Strategy Tests

There is no good information present on the trading strategy utilized by Forex Flex EA. They mention that the expert places virtual trades within its code to analyze the markets and then enter precisely when needed. This type of lousy explanation raises further concerns over the performance of the system. 

The company presents an image of the backtesting results on the website that shows a tremendous gain of 19397.87% with a 12.1 drawdown and modeling quality of 99.99%. However, as soon as we click on it, we find no hyperlink that can take us to the records. 

99% Backtests

What About Forex Flex EA Real Trading Results

The company presents several portfolios over the webpage that lead us to verified results on Myfxbook. Some of the links are not working, predicting that the account may have resulted in margin calls. Almost all of the portfolios have a massive drawdown in contrast with the monthly gains. These new strategies show a good separation between equity and balance curve which depicts aggressive use of grid strategy that can be risky. The downside for these stands at around 40%, with average gains of 15%.

Stats

Other records are outdated and show trading activity until 2019. The systems stopped tracking results which are quite suspicious. The story is similar, with accounts showing big drawdowns and little to no profitability.

Stats

User Reviews

Customer reviews are available at Forex Peace Army, which gives the robot an average rating of 4.147 for a total of 79 pieces of feedback. 

User Review

Some users say that the system does not work.

User Review

It’s a system that is better to run by experienced traders who know what they do:

User Review

There also are some positive reviews, where users warn us about high drawdowns:

User Review

Forex Flex EA Review Summary

Forex Flex EA Review Summary
3 5 0 1
Forex Flex EA has been in the market since 2014, according to statistics on Forex Peace Army. Since then, the robot does not have a single verified record for a long duration, i.e., from 2014 till the current date. The expert advisor may likely have stopped working or resulted in margin calls for previous portfolios. Furthermore, there is no transparency on the developers of the system, which raises more concerns.
Forex Flex EA has been in the market since 2014, according to statistics on Forex Peace Army. Since then, the robot does not have a single verified record for a long duration, i.e., from 2014 till the current date. The expert advisor may likely have stopped working or resulted in margin calls for previous portfolios. Furthermore, there is no transparency on the developers of the system, which raises more concerns.
3/5
Total Score
  • Functionality
    3/5 Neutral
    The robot works on MT4 and 5.
  • Trading strategy
    2/5 Bad
    The developer fails to disclose the strategy.
  • Live Results
    2/5 Bad
    Live results show performance until 2020 only.
  • Customer support
    3/5 Neutral
    Customer support is offered 24/7
  • User reviews
    4/5 Good
    Reviews are not good enough

The Good

  • 30 days money-back guarantee

The Bad

  • Poor verified results and high drawdowns
  • No transparency of developers
  • The price is high
Total
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