Unbiased Forex Broker Experts

ForexEnvy.com Review Visit site

Updated: May 14, 2018
3.413 · 30 REVIEWS
Is this your company?

The ForexEnvy MT4 EA is a forex expert advisor. The Forex Envy automated forex trading software for the MetaTrader platform has been forward tested on live accounts by the Forex Peace Army™ The ForexEnvy.com forex robot doesn't use scalping or high-frequency trading techniques.

ForexEnvy.com

Performance tests

StatusAccountProductP/L Weekly,%Weeks testedP/L Gross,%
Forex Envy Power-10026.1-100
Forex Envy - W-43.656.6-97.73
Forex Envy Ultra/Power-61.128.8-99.976
Forex Envy-0.6153.9-28.101

Live discussion

Join live discussion of ForexEnvy.com on our forum

Go to forums

Video

Your company video here? Contact ad sales

Court cases

File a case

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty0
3.413 · 30 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

, Saudi Arabia,
Jun 28, 2016,
Guest

I was once a member of PAMM account, initially there were good profits, but one night everything wiped out! Very risky trading this EA/PAMM.
Australia, Australia,
Mar 18, 2013,
Guest

Forex envy EA review default settings , tested with Two Brokers (VantageFX - no dealer desk and GFT with dealer desk) with almost identical results

Back test from 17-07-12 to 15-03-2013

Mode 1 - EURUSD - Max DD (Maximum Draw Down) - 1027$ and TP (Trading profit) - + 1881$
Mode 2 - EURUSD - Total account failure
Mode 3 - EURUSD - Max DD - 951$ and TP - + 1443$
Mode 4 - EURUSD - Max DD - 754$ and TP - + 1974$
Mode 5 - EURUSD - Max DD - 977$ and TP - + 1570$
Mode 6 - EURUSD - Max DD - 295 and TP - + 1820$
Mode 7 - EURUSD - Total acc failure
Mode 8 - EURUSD - (ultra mode) Total acc failure.

Out the all the currency pairs best is EURUSD, how ever GBPUSD following results were noted.

Mode 6 - GBPUSD - Max DD - 429$ and TP (Trading profit) - + 665$
Mode 6 - AUDUSD - Max DD - 198$ and TP (Trading profit) - + 223$

Mode 6 and mode 1 - EURJPY - Total acc failure . (even in mode 1)

Mode 6 - EURGBP - Max DD - 804$ and TP (Trading profit) - + 262$ but total acc failure in mode 1

Mode 6 - USDCAD - Max DD - 139$ and TP (Trading profit) - + 223$
Mode 1 - USDCAD - Max DD - 135$ and TP (Trading profit) - + 196$

Mode 6 - NZDUSD - Max DD - 505$ and TP (Trading profit) - + 400$
Mode 1 - NZDUSD - Max DD - 579$ and TP (Trading profit) - + 585$

USDJPY total account failure in mode 6 and mode 1

Mode 6 - AUDNZD - Max DD - 785$ and TP (Trading profit) - + 143$
Mode 1 - NZDUSD - Max DD - 788$ and TP (Trading profit) - + 254$

Best currency pair for this EA is with default settings is EURUSD and in mode 1 the safest. Overall this is a very good and powerful EA,

Support team is very good and respond to any questions you have promptly number of times they remote into my PC using team viewer credentials fixed issues. There is ongoing subscription fees not much, (€41 for three months) This good in my view as the developer has a vetted interest in customer’s ongoing business with them, if everyone is loosing money then no one will be paying for subscription fess compared to one off payment Eas after purchase vender has no interest in the customer. Team also send weekly outlook for currency pairs advising what currency pairs should run with which mode, this is even good for your manual trades also if you are trading manually with another acc.

The EA has freeze after TP feature which is very useful if you do not want to trade after TP and also server news feature before and after potentially damaging news EA will not trade and also if you want to use chicken out feature that is if you are in a hurry to save equity would close all the existing trades.

How to tame this Down.

Ultra mode only run on one currency pair only I prefer EURUSD and only in good news days for this currency pair do not run all the time.
My favorite is mode 6 only in good news days with default settings will make money for you without doubt. One currency pair (for me EURUSD) at a time. Do not get greedy go steady and with patients this EA will make money compared other garbage out there. If you are new trader then mode 1 with default settings for EURUSD once you know what you are doing mode 6 with default settings and as mentioned ultra mode on good news or no news days

I run this in ea in manual mode with my own settings in live and demo with very good results.
In manual mode I have following settings

Lot size - .1

Mode=0
RiskFactor=1.0
IgnoreBonusCredit=0
SpreadCushion=0.2
UseServerNews=true (Will stop trading bad news times)
ManualCycleInfo=0 - long; 1 - short
ManualCycle=1
FreezeBeforeNewsMinutes=720
ResumeAfterNewsMinutes=60
NewsAlertPopups=0
AutoGMTOffset=1
GMTOffset=0
_________=Input a unique magic number for each chart, 0 for automatic
Magic_Number=56
Base_Lot_Size=0.1
Execution_Point=2
Basket_Take_Profit=8
Basket_Stop_Loss=80
Multiplier=1.1
Maximum_Buy_Levels=4 (will limit the risk )
Maximum_Sell_Levels=4 (will limit the risk)
Slippage=3
Bail_Out_Pct=50 (if s*** hit the ceiling you are out when 50% equity drop this in unlikely to happen with max buy and sell to 4)
Close_Order_Attempts=99


With above manual settings this is how the EA works, 4 buy or sell trades depend on the trend and if there is no retrace then another 4 buy or sell trades (if first 4 are buy then last 4 would be sell trades as max buy or sell is 4) then if the market is still trending against first 4 trades then last 4 sales will be making money and if the market to go against the first 4 sales then it will get out of the first 4 trade position with only 80$ loss and at the same time last 4 sales by now is with the trend and would be making money, by now stamping profit at 8 $ at a time. Max DD is the cost of first 4 trades usually 200$, every time first 4 loosing money the last 4 trades would make money, (as if first 4 are buy alst 4 would be sell orders) every second day enable free after TP and take profit out. Only time these setting would cause you issues is if the market is trending back and forth repeatedly, that is NOT how market usually behaves as it will react to a good a or bad news and price goes up or down dramatically this is when people loose money above setting will counter such moves if the market is less volatile then it will keep making small profits slowly that is also good. I only run mode 0 in GDPUSD other currencies I am not good at ready the trend patterns, I stick to what I know and I know how GDPUSD trend patters work with above settings.

I have forward tested above mode 0 settings in demo for two weeks and had a profit and then back tested the same settings and I got a loss with both brokers. I do not know for sure why this had happened , likely data is poor quality I think when back tested.

Hope above help someone out there, please ensure you forward test few months before going live, I make money with this EA, so far so good I do not know what future holds.

If you want to be super safe with mode 0 manual settings you can change lot size to. 01 instead of .1

Happy trading.
Kediri, Indonesia,
Jan 1, 2013,
Guest

Forex Envy is a great martingale EA, you must use Long HV only with deafult setting and XEMarkets swap free account to get consistent profit with this EA.

Using Power, Ultra, Short, NV or LV is not recommended.

And as a trader, you need to be patient
Barcelona, Spain,
Nov 14, 2012,
Guest

Forex Envy is really stepping their game up with Ultra and Enduro. Very pleased they keep improving their EA for all of us!
, Germany,
Nov 9, 2012,
Guest

Forex Envy is making good profits and they respond quickly to emails. Lots of different modes to pick!
Buenos Aires, Argentina,
Nov 8, 2012,
Guest

I started using this robot in the beginning of October with 3 demos and 3 live accounts using HVs and power. The results have been amazing so far. I think this EA is better than many other EAs out there. It would be great if there was a function that closed the baskets when it reaches a point where there is no loss and no gain in case you want to get out of that basket. Overall, I think this EA is great and I will keep using it. Keep it up team envy!
M., USA,
Nov 6, 2012,
Guest

I find this EA one of the most profitable there are out here. My cousin and I have been playing with a few demo accounts and two live accounts for 4 months now, back in September we had a major loss in our Power L/S even though their Support is dedicated and provide fast responses we had the account running too aggressive. Traders have to know how to use this tool. Personally I will definitely keep using FE since we have made a good Net profit overall, cant wait for their new version. Hope it does not take forever....
Centurion, South Africa,
Nov 5, 2012,
Guest

Far too expensive and way too risky. I'd rather use TotalGrid.
Vancouver, Canada,
Oct 25, 2012,
Guest

I have been using Forex Envy power 3.0 from July, 2012, Why everyone was laughing all the way to the bank? My account blew up twice due to underfund and I lost $20,000+

I am still using Forex Envy power 3.0 from Aug/2012 with 45% more fund that it stated using power Long and short, on Sept/16, They blew up their Showcase power 3.0 and few other accounts, but my accounts passed with DD=85%.

Recently, They upgraded to Endura power 3.2, while I am still using power 3.0, They blew up their power 3.2 in 10 days due to 50% unfund, My accounts pass again, this time my DD is 70%.

By using Power 3 power long and short from Aug, In 3 months, I gain 300%, I recovered my lost and now I am running 2 Forex envy power with 45% more funding.

I will upgrade to power 3.2 with right timing.


Brisbane, Australia,
Oct 18, 2012,
Guest

I don't get why there is so much complaining about this EA. Forex Envy
is VERY upfront about the risks and how to use their system. I have
used Tom's EA and Forex Hacked, Envy is much better than both of those
EA's, and I am making money. I installed version 3.2 and it is working
well. I'm glad they keep updating this EA and making improvements.