RED FOX Robot Review

RED FOX Robot

RED FOX trading robot works on multiple currency pairs while maintaining a low drawdown on the account. The algorithm currently works on the MT4 account and requires a minimum amount of $1000 to start trading. Our article will discuss all the essential features of the expert advisor and consider if you should implement them on your accounts.

The company fails to give us information on the developers. They present their address as Jalan PJS 2C, Taman Medan, 46000, Petaling jaya, Selangor, Malaysia. You can contact them through the email they provide on the official website.

RED FOX EA at a glance

Price$266
Trading PlatformsMT4 
Currency PairsMultiple
StrategyGrid 
TimeframeN/A
Recommended Deposit$1000
Recommended Leverage1:500
Money ManagementYes

RED FOX EA functionality

The robot has the following features:

  • It comes with a built-in news filter that avoids volatile market conditions
  • It does not use a martingale strategy and is fully automated
  • It has a spread control that avoids trading during periods of high commissions
  • It provides verified statistics of their EA on Myfxbook

Unfortunately, there is no information present on the settings that we can tweak while using the algorithm.

RED FOX EA trading strategy tests

The developers state that the robot uses custom indicators to analyze the markets. It trades based on market reverse price. It does not employ a martingale strategy. To analyze further, we use the trading history on Myfxbook. From there, it is obvious that the robot uses a grid strategy that opens successive positions as the trade goes into a loss. The average trade duration is 12 hours and 56 minutes which conforms to the day trading approach.

Trading history on Myfxbook
Trading history on Myfxbook

There are no backtesting results available which is again a poor activity. This might be because the robot might have failed during the procedure. 

RED FOX EA real trading results

Real trading results are tracked via Myfxbook, which shows performance from May 17, 2021, till the current date for a 1k account. Since then, the robot has had an average monthly gain of 7.24%, with a drawdown of 31.58%. The drawdown value is comparatively high, and the ratio is poor in contrast with the monthly output. There were 507 trades in total, with 5.07 lots traded. The expert advisor traded with a winning rate of 79% with a profit factor of 2.43. The best trade was $8.76, while the worst one was -$9.42. Multiple currency pairs were used. 

Live trading statistics on Myfxbook
Live trading statistics on Myfxbook

User reviews

Customer reviews are present on TrustPilot, which gives SInry Advice a rating of 4.0 for a total of 52 feedbacks. Customers state that RED FOX EA was not able to control the drawdown as stated on the website. They report that their account had received a margin call. They also state that the expert advisors are copied from other algorithms in the market. 

Negative customer review on TrustPilot
Negative customer review on TrustPilot

RED FOX EA Review Summary

RED FOX EA
2 5 0 1
RED FOX EA is currently going through a high drawdown which is evident as the robot uses a grid strategy. This type of game plan does not work when the market trends in one direction. It is possible to receive a margin call easily with this type of approach.
RED FOX EA is currently going through a high drawdown which is evident as the robot uses a grid strategy. This type of game plan does not work when the market trends in one direction. It is possible to receive a margin call easily with this type of approach.
2/5
Total Score
  • Functionality
    2/5 Bad
    The robot works on MT4.
  • Trading strategy
    2/5 Bad
    The developer fails to disclose the strategy properly.
  • Live Results
    2/5 Bad
    Live results show performance with a high drawdown.
  • Customer support
    2/5 Bad
    Customer support is available only by email.
  • User reviews
    2/5 Bad
    Customer reviews indicate that the robot is not performing according to the promise.

The Good

  • It comes with verified trading records

The Bad

  • Use risky grid strategy
  • No transparency of developers
  • It only works on MT4
Total
0
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