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ForexOverDrive.com Review Performance Tested Expert Advisor

Overall Rating: (3.667)
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Total Reviews: 18
Last Updated: 2014-08-08
Description: The ForexOverDrive MT4 EA is a forex expert advisor. The ForexOverDrive automated forex trading software for the MetaTrader platform has been forward tested on a demo account by the Forex Peace Army™ The ForexOverDrive.com forex robot supports the EUR/USD and GBP/USD currency pairs.
Special Notes:

Othere website of this company includes FXFlash.com

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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2010-03-09
Review: We haven't tried the forex robot from ForexOverDrive.com. If you've let this EA trade forex for you, please leave a review here.

Update: The FPA has begun a performance test of this EA on a demo account. Please click the link towards the upper-left to follow the results.

Shallow Rabit, Glass Land, Japan

Rating:
Date of Post:2014-06-25
Review: I have and love this EA.
It crashed in the Lehman shock, but it is stable thereafter.
EA other was also messed up with all that time.
Stop the default value is large, if you use at 30 ~ 50pips,
Big DD is avoided.

Orlando, westbury long island, USA

Rating:
Date of Post:2013-06-12
Review: Hello everyone, I have purchased overdrive with no sucess do not buy company is not in business anymore they do not respond to emails.

Thomas e. Bell, Dallas, USA

Rating:
Date of Post:2012-06-29
Review: I purchased forex Over Drive last year and tried to make
quick money with it by adjusting all the setting and lost
Big. Now i let it run on it's on, the only thing I've changed
is the risk percentage to 5. i get excellant results,
One of the great robots.

abraham moran mundaca, santiago, Chile

Rating:
Date of Post:2012-06-19
Review: i buy it, it do not like, so i ask the refund, they offer guaratee, but the do not refund mi money, they are scam, thives, be carefull

ogb, nigeria

Rating: No Rating
Date of Post:2011-02-20
Review: well, this seems to be the only ea so far that i find has gained a little credibility. i just installed it on my demo and i'll test to see how it performs. i hope it proves good
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Newton, New Zealand

Rating:
Date of Post:2011-01-19
Review: My experience with this EA is mixed. It wins a lot of small trades and then loses it all and some when it gets it wrong. Since April 2010 the account balance is just over half the sum of money I funded my account with for this EA. I am not ever going to buy another EA again (I have over time bought many). I do much better on manual trading

Chuang, California

Rating:
Date of Post:2010-12-21
Review: Since I use to be a person searching for information, I guess I can contribute this way. I've personally owned the software for 2 months so far. It has performed in terms of making a lot of winning trade, but they're mostly 5-25 pip trades. I haven't had one that went for 100+ pips so I can't say if this EA will ever do that, but you can't beat consistent winners either. There was 1 losing trade this period, it was 200pips because I closed it myself. Looking back, it could have been a winner cuz the stop loss was 327 pips and the price did reverse and go over.

Anyways, to wrap it up. Lot sizes traded were a lot smaller than anticipated, however, given that there is a 300+ pip stop on every trade plus consistent winners, the small lot size makes sense. This has performed to my satisfaction so I will keep this EA and hope my broker supports MT4 for a long time.

In terms of software satisfaction, I give 4 stars, but the fact their support staff does answer emails within a day, I gotta give them 5.

Paul Messier, Canada , Montreal

Rating:
Date of Post:2010-12-14
Review: Hi guys:, well I've been trading live for a few days and its not performing good at all, major losses so far, I've been using the setting according to to instructions. It only traded sell positions.
My brother also been trading live and he is dooing much better , mostly wins good for him.
His ononly traded on short positions and we have the same pairs going, same set up.
Can anyone help me understand this.

Albert.B, Birmingham UK

Rating:
Date of Post:2010-10-21
Review: Hi Folks,

I have been trading since March 2010 and I still don,t know the real ins and outs of the Forex market, but I do know a good tool when I see one.
I have since March, purchased quite a few EAs, most of which I have had a refund for.
A couple I purchased, I now wish I had had a refund for!
For me, Forex Overdrive has been a unbelievable!
First off I demoed it on the Meta 4 Platform (not with any broker) from July 27th to aUG 16TH, trading GBP/US & EUR/US.
During this period it opened 12 trades, all 0.1 lots, with NO LOSSES, for a profit of $200.

With a trading record like this I just had to go live, which is something I don't normally do until five weeks of testing have passed!
I left the demo running up to Sept 1st by which time it had traded a total of 27 times for a profit of $468 with NO LOSSES.
I went live with FXCM on Aug 16th!
Since that date Forex Overdrive has traded a total of 90 times on my account.
There have been 3 losses, the highest being £20.15, the next highest at £0.19 and the lowest £0.16.
There have been 87 winning trades for a total profit to date (Oct 21st 10.26am GMT) of £835.43.
I am now hoping that I have not jinxed myself by telling you guys these details
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