Forex Flex EA is represented as a newly developed innovative technology involving “virtual trades”. This, according to developers EA It opens virtual trades and monitors the market to find the best winning positions. It’s one of the most long-running systems on the FX market. That’s the main reason why we have decided to analyze this trading tool and its viability in 2022.
Forex Flex EATo Trust or Not Trust?
GridMartingale is a potentially dangerous combination. The June 2022 trading results have shown a loss in the range of -37,7%. Another drawback to be aware of is the high DD, as well as a series losses.
The robot is available in three versions: MT4 version and MT5 version. You can also purchase both versions simultaneously. Only one license is included in the first and second packs. Two-version packs include one license. Each pack includes unlimited demo accounts, all set files, private forums, and a 30-day guarantee. The MT4 and MT5 packs are $349 each, while the two-license packs are $499.
Let’s talk about systemized and well-introduced features:
- The EA Trades allowed on 28 currency pairs
- There’s a money-management system that manages Lot Sizes for us.
- The robot can be used in accordance with NFA or FIFO requirements.
- There’s a pack of optimized settings.
- Trades can be made through MT4 or MT5 brokers.
- You can get updates and upgrades at no cost.
- The EA Avoid trading when there is high-impact news.
- Developers suggest that we trade GBP/USD and USD/CAD, USD/CHF and USD/JPY.
- According to the dev, there are twelve strategies on this board. None of these are revealed.
- To determine the most valuable entry point, there are six virtual trades per symbol.
- We can change any indicator on and off.
- The system closes trades using information from indicators.
- There’s a Hedge strategy that can be turned on and customized.
- Broker protection hides SL/TP levels from brokers.
- Average trading frequency is between 4-8 trades per week.
- The minimum deposit to the cent account accounts is $100
- Standard accounts require a minimum deposit of $1000.
- We’re recommended to trade through HotForex and FXOpen.
Verified trading results
What is important when it comes down to the EA’s profitability and reliability is its performance. The devs have verified the results of six trading accounts via their website. Only 3 are actually active.
These trading accounts all share the following characteristics: high drawdown, consistent gains, and a monthly average gain of between 4-8%. Let’s analyze one of these trading accounts in detail.
This is a real account (USD) that runs under the Axiory brokerage. It has 1:400 leverage on MT4 terminal. The total profit of this account could increase to $2897 by September 23, 2019, which is 361% of its total gain percentage. It was deposited at $4,369.74, and withdrawn at $5.265.87. This trading account is too risky considering that the average monthly gain for this account is 4.69%. A high drawdown of 40% seems excessive.
The profit chart shows good trading statistics. However, it was ruined by a sudden loss in the middle June 2022. The profit on June 8th, 2022 was $4989. In 5 days, it dropped to $2898. This is a scary loss of $2K.
The robot’s win rate is 70%. This can be supported by 393 of 558 successful orders. Robot trades have a risk/reward ratio (1.21) and a profit factor (1.61).
Forex Flex EA There are 9 currency pairs that can be traded. GBPUSD ($1,111.42) is the most traded currency.
We can see that the trade activity table shows that the dev suffered a series losses and then decided to withdraw 1120 USD. Strangely, the SL, TP and Lot size traded are not visible. Probably it’s because Martingale applied. The system used a grid strategy of orders, as you can see. It is now clear why the developer chose not to show this risky combination.
The developer failed to provide adequate backtest information. This information is required to verify the system’s quality before release.
The vendor agreed to share any personal information with traders. We don’t know the identity of the developer nor where their headquarters are located. One thing we do know is that the vendor has been active in FX for over 10 years. We did additional research to find out more about the Forex Flex forum, we have found that the admin’s name is Steeve. This information is all we could find.
A page is available for the company on Forex Peace Army has a 4.17 Rate based on 81 Reviews. The system’s trading performance is well-received by most traders. Some traders have reported communication issues, poor trading performance, and difficulties setting up.
Forex Flex EA Is it worth the price?
Forex Flex EA is a dangerous software that’s based on Grid and aggressive Martingale. Traders can experience massive and constant drawdowns, imbalance loss, ruin, etc. as with any Martingale robot. This is what we have. Forex Flex EA.