Forex Steam Review

2.858 • 202 REVIEWS
Updated: Feb 29, 2024
ForexSteam.com
August-September 2016:  Multiple fake and highly suspicious positive reviews submitted for Forex Fury and Forex Steam.

September-November 2012:  Large numbers of highly suspicious positive reviews submitted for this company.

Related sites appear to include ForexFury.com

Details

Established: 2010
Contact: support@forexsteam.com
2.858 • 202 REVIEWS

Forex Steam Most Helpful Customer Reviews

S
serg
moscow, Russian Federation (Really the offices of Forex Steam in Canada),
Aug 1, 2018,
Registered user

good code, good logic (and a fake review from the offices of Forex Steam)

i am happy with service for steam ea in 4 month, i ask to check code and they show me, code very good, i am code as well in mql4. good code, good logic.
Forex Peace Army
Review moderation team note
4 Star rating removed.

This review did not come from Russia.  It came from the same location in Canada used by the representative of Forex Steam and Forex Fury.

Per FPA policy, the rating on this review has been set to Zero stars.

The FPA does not appreciate review spammers.
S
Shelley Vance
Toronto, Canada,
Aug 1, 2013,
Guest

Click submit review on right hand side. Add a random name, and your actual location. Here is the review to add and submit.

I have been using steam for over six months with both of my main brokers on live and demo accounts.

In this time I have had winning streaks as large as 25 straight trades. My results have almost replicated the results provided by people at steam and Forex robot nation.

The only thing I do a little different is that I will sometimes change settings and I will also watch the market myself. I don't blindly place Forex steam on the charts and then cross my fingers hoping that he will make good trades.

Now, when I do leave steam alone it does a great job but I am not the type of person that can just set and forget. Like I said before I like to watch the markets.

When I first bought the software I missed an upgrade and I had a pretty bad loss. After talking to support they made it very clear that upgrading is of the utmost importance and since then I have never missed an upgrade and because of this my results have really matched up.

I think that steam is by far the best EA I've ever used and I agree with the rest of these very good reviews. I think it is a good idea to take responsibility for your trades and to look towards more modest expectations.


Forex Peace Army
Review moderation team note
Review Moderation Team Note: Nice opening sentence. ;)

This review appears to be paid spam.  Per FPA policy, the rating has been set to Zero stars.
S
SteveM2025
England, United Kingdom,
Aug 14, 2020,
Registered user

Flawed EA, has anyone actually had long term success with Steam?

Service use: Live Length of use: 0-3 Months
I bought Forex Steam based on the general weight of reviews in its favour. It picks good trades but it is flawed in that the default stop loss is set to 90 pips, default take profit is set to 10 pips. That means it needs a 90%+ win rate to be profitable, and given there is not alot of room between 90% and 100% it doesn't leave much margin for error.
Support will tell you that the pip retrace feature will kick in to ensure that your losses are rarely 90 pips. Take a really close look at the results on their website and you will see that between 1.1.2020 and 31.7.2020 they had only 18 losing trades, all at 10 or 20 pips, so basically if their official results are using the default 90 pip SL, then the pip retrace feature is kicking in every single time.
Meanwhile in one single month (July) I also had 18 losing trades, only 7 of which used the pip retrace feature. So I had 11 losing trades, losing 90 pips each in one month and they had no 90 pip losing trades in 6 months. Support will tell you there will always be variation between their published results and your results because of brokers / spread differences, news etc, but those results are worlds apart, the difference between profitable and very much not profitable. My account crashed 80% with steam and I have removed it from my charts. My last two emails to support on 18.7.20 and 21.7.20 have gone unanswered.
Look hard enough on the internet / facebook and you will find others who have experienced the same issues with Steam, I have not been able to find anyone who gets even close to the results they claim. If anyone genuinely is having LONG TERM success with steam please post how in a review. One of the stock responses from support is "its working fine for 000s of other clients", which doesn't really mean anything, it just implies its your problem. If there are people out there getting the 20-40% monthly gains claimed possible, where are they? Forex Steam should have a legion of brand ambassadors helping the newbies and discussing how great Steam is in FB forums. Strange that they don't seem to exist.
3 traders have found this review helpful
C
CyberBobbert
Wilmington, DE, USA,
Dec 9, 2020,
Registered user

It works, if you use it correctly!

Service use: Other Length of use: 0-3 Months
I have been trading Forex for a long time, and did commodities years before that, so my knowledge of the markets is pretty decent (but I'm always learning). I have used a wide range of signals, EA's etc in the past with so so results. BUT on the advice of a colleague I did try ForexSteam. I will admit that I needed to ask a few dumb questions, but the questions I asked were answered quickly and in super detail.

SO I started to do some demo trading across various accounts I have. OF COURSE I violated several things I would never do in a live account (trading a currency in two different pairs at the same time etc) ... but I wanted to run this through a "torture test" EXPECTING serious losses and "breaking the EA". I did make use of the TIME RESTRICTED TRADING PHILOSOPHY with a "decent" T/P and a "larger than I like" S/L - to test.

There were times the drawdown was a bit scary but the other indicators I use on MT4 were showing positive signs so I just "let it ride". In fact, for many days I did not even check my VPS. I didn't read news, I just let the EA run "free range". TO my surprise I only had ONE loss out of 18 trades (it was a news issue) but the way I set my S/L and T/P gave me a very nice overall profit considering I was not being "careful" with the trading.

With my live account we are experiencing similar results percentagewise, but I am also adding my human touch to the bot and I do adjust a trade on the fly with trailing S/L etc as I am getting more comfortable with the strategies and settings of the EA. For my real money, I'm not letting it run totally automated and I research things in real time as well. For me? This is a winner. IT works IF YOU WORK it and work WITH IT!
3 traders have found this review helpful
M
meir25av
Zapopan, Mexico,
Oct 13, 2020,
Registered user

Service use: Other
I have just shared this review in order to have full access to the company's strategy to trade with Forex Steam Robot.
Forex Peace Army
Review moderation team note
5 Star Rating removed.

The FPA does not accept compensated reviews.  Such reviews are unethical.  They are also illegal in many jurisdictions.

If you or anyone else has evidence of a company offering any sort of compensation for reviews, please use the contact form on THIS PAGE and give us all of the details.

Recent User Reviews of Forex Steam

C
Changhin
Selangor, Malaysia,
Jan 11, 2021,
Registered user

Looks promising

Service use: Other
I shared this review in order to have full access to the company's strategy
Forex Peace Army
Review moderation team note
5 Star Rating removed.

Reviews are for sharing experiences.  Offering compensation for reviews is unethical and violates the laws of a number of countries.
N
nayanmipun
guwahati, India,
Mar 23, 2022,
Registered user

Huge Losses Frequent Small Profits - Over All Loss Of Capital

Service use: Demo Length of use: 0-3 Months
Forex Steam has small frequent number of wins and huge losses and gradually the big few losses are more than the small frequent wins in the amount of money thus the account reduces money instead of accumulating profits. A reversal of the entries however could have changed the game for profits accumulation but the robot doesn't have the reversal entries buttons. Further as per my diligence seeing other's talks with the Forex steam issue Forex Steam doesn't have any 3 rd party observer of it's performance for it's claims for profits accumulation. Well well in the end 1st be a successful manual trader and make your own robots Based in your manual methods.
N
NenadX
Amsterdam, Netherlands,
Mar 31, 2021,
Registered user

So far so good

Service use: Live Length of use: 0-3 Months
I am running Forex Steam v.10 for a week on a small live account with 51% gain.
The bot is not plug'n'play system, we have to do backtesting and config adjustment.
I was tempted not to put my opinion here, but to keep it as a secret, but hey... it is a HUGE market, and there is a place for everyone.
F
frawson
jhb, South Africa,
Dec 31, 2020,
Registered user

34% loss in 1 months

Service use: Live Length of use: 3-6 Months
Set my settings to same as theirs, mine had 5 times the losses.
initially it did well and then it fell apart.
I have no faith in this EA it will eat all your money.
https://www.myfxbook.com/portfolio/szfstl/6553097
notice when I stopped using their EA!

Jul 16, 2020 - 5 Stars Painless Purchase experience. looking forward to test this Expert Advisor out.
Website simple and easy to follow
M
marif21376
Birmingham, United Kingdom,
Nov 1, 2020,
Registered user

Not worth a single USD

Service use: Demo Length of use: 0-3 Months
This is a Scam EA not worth a single USD. The results on their website is manipulated and not true. They hide the lost trades but only show the winning trades to make people believe that this EA makes a lot of profit. I have used this EA for 3 months with no luck and asked for refund 100 times but every time they come with a new excuse. Once they take your money they never return. My advise is just don't trust them they are scammers. If their EA is as good as they claim they would not be so keen to sell it for 114USD. Think

Jul 29, 2020 - 1 Star Be aware!
This EA can generate several profits but they publish not the ones with the stop losses. These bring back your results with a tenfold! This EA is a big RED FLAG! Unless you love to loss money..

Have experience it over a three months and tested it over a longer period. Stop losses have been eliminated in their statements. They are not transparent with the data and their eager support will tell you that it's because of your settings, broker, etc. There are other portals like forexrobotnation.com which is run by the same people. They manipulate test, reviews and results. It's a scam and should be banned! Ask your self, if they made millions with this EA why on earth they sell it for $118.
4 traders have found this review helpful

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What is ForexSteam?

ForexSteam is an automated forex trading software also known as forex trading robot or forex Expert Advisor.

How much does ForexSteam EA cost?

ForexSteam EA is available for a one-time payment of $117.99.

What is the minimum amount to trade with ForexSteam?

An amount of $300-$500 is recommended to trade with ForexSteam.

How many licenses does ForexSteam EA support?

ForexSteam EA supports 4 licenses in total, all of which can be reused and changed at any time.