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
|Trading Platforms||MT4 and MT5|
|Strategy||12 trading strategies that are undisclosed|
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.
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%.
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.
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.
Some users say that the system does not work.
It’s a system that is better to run by experienced traders who know what they do:
There also are some positive reviews, where users warn us about high drawdowns:
Forex Flex EA Review SummaryForex Flex EA Review Summary
Functionality3/5 NeutralThe robot works on MT4 and 5.
Trading strategy2/5 BadThe developer fails to disclose the strategy.
Live Results2/5 BadLive results show performance until 2020 only.
Customer support3/5 NeutralCustomer support is offered 24/7
User reviews4/5 GoodReviews are not good enough
- 30 days money-back guarantee
- Poor verified results and high drawdowns
- No transparency of developers
- The price is high