Forex-EA-Trader.com Review

I opened an account with AvaTrade who are FCA regulated in the UK and were recommended by Forex EA. Setup went great and Forex EA support even remoted onto my VPS (via my desktop) to check settings of the robot, which was excellent service.

I opened an account with Forex EA supports recommended minimum amount - £200, which seemed low, however that was their recommendation.

Two things struck me with this robot - 1. It does not use a stop loss, although it would be possible for the robot to manually monitor the trades itself and close when a level is hit; and 2. It keeps trades open over a weekend, so being vulnerable to weekend news.

My experience is the same as everyone else - the robot closes winning trades after around 11 pips, but keep losers open and appear to keep them open indefinitely. It also closes a winning trade but then almost immediately opens another trade in the same direction... so you pay the spread multiple times.

I started the robot on a live account on 8th July 2019 and by 5th August 2019 it was running low on margin with losing trades open and getting bigger and bigger. The robot was unable to open any more trades, I contacted Forex EA support who advise I needed to place another £100 into the account.... against my better judgement I did.

There were some small wins but by 9th Jan 2020 all the margin was used again because it kept the losing trades open. On contacting Forex EA for their opinion, they first asked me to call AvaTrade?!! After asking them why I needed to contact the broker, when it was the robot making the buy/sell decisions, they asked for a full account history and they said they would get back to me, which they never did. I manually closed the losing positions on 15th Jan.

The robot trades the 15M EURCHF chart however I had one losing trade open from 17th July 2019 until 14th January 2020...

Hello to all let's be honest here this free EA and is free for one reason just to add customers to brokers yes you have to open an account with there broker to get a 12 month license were by the EA owners receive a percentage of your account win or loss they make money and won't care either way remember there is no such thing as a free lunch its just a marketing ploy to get you in even if you stop using it they make money on every trade you make on that account forever or until you go bust

Yes the EA made profit from day one. Small wins all the time. After six weeks it had made almost 100%. BUT THE PROBLEM IS: It never takes a loss. So the losers get bigger and bigger, and the swaps keep growing. Even if it moves in your direction and makes it winning trades, it would not cover the swaps. After four weeks it was running with 80-100% drawdown. I asked support if this was normal, and they replied that it was normal and the solution was to add more money to the trading account. I didn't want to lose more money, so I didn't and after six weeks it blew the account. 300 euro out the window. Stay away folks!!!

I have bought this EA and have been trading for 2 months LIVE on the Tradefred platform with it. It does not produce the results that the advertiser claim. The problem is that it produces bigger and bigger numbers of open trades (supposedly hedging). So, whereas one's balance slowly grows, it is outgrown by the negative open trades. Not recommended.

Ive been running the robot for a couple of weeks now and yes when you look at the balance on the account it is very impressive. Currently standing at £3955 on a £1800 starting account. However with a -£2275 on outstanding trades it makes slightly different reading.

I queried the lack of Stop loss use when I first started the robot and was told its not a problem and that if I implemented one it would affect the running of the robot.

The system uses grids of buys and sells, which in itself is not a bad idea. But you are left with losing trades that were taken at the extremes of the current price movement. The swap values on these are greater than the profit that would be made if the trades closed normally.

When I queried the length of the trades etc, all I got was abuse for "overtrading" my account. They asked who told me to trade EURUSD and EURCHF at 0.2 lotsize. When I told them it was my decision and pointed out it was GBP and not USD in my account it went very quiet and Ive heard nothing since.

Its easy to see how their marketing shows the steady growth of an account, because there are no losses ever taken.

hi there i got this robot just over 24hours ago and thew customer service stinks to say the least.Ive tried communicating with the broker as well as the forex ea team on their whatsapp and no one seems to communicate.The robot started of fine but it seems that is just stuck in a loss at this current moment

I was about to purchase this ea when I was talking on the live chat trying to get some info before committing to the purchase but the guy at the other end of the line was so rude with absolutely zero customer service that I decided to buy another robot. I honestly don't know if their robot lives up to their claims but it doesn't matter, their service stinks and I will rather spend my hard earned elsewhere.

I am using the robot for 4 and half weeks . The results are pretty good. So far on 1000$ account i made 477$ profit

I contacted them yesterday as they offer a monthly return of 60%. When I questions their returned of 4.72% as verified results they got aggressive and started using foul language. (I have screenshots to prove this). They they said they will email their statements which of course did not happen !