Today I’m reviewing a new expert advisor built with multicurrency trading at the forefront of their innovative trading strategy, Forex Kore. Developers claim that they built-in 3 different strategies to suit the needs of all of their clients, with trading approaches that suit both short and long-term traders.
The creators of the software claim to be experienced Forex traders, but at no point on the sales page are we introduced to any of these traders. Thus, it is unknown who the developers of the software are, or what type of trading experience they truly have. In order to get in touch with support, traders can submit a ticket through a help desk, as no direct email address is provided.
Forex Kore Review
According to the sales page, the Forex Kore EA is different from other robots, because it uses a learning technology that “allows it to study past data and teach itself how to adapt.” The creators tell us that this type of technology has been utilized for years by Wall Street brokerages, and now they want to bring it to the Forex marketplace. This is not the first time that developers have promised machine learning technologies as part of their Forex robot trading strategies. I remain somewhat skeptical, as I haven’t seen the code, and I’m well aware that the vendors frequently exaggerate on the technological savvy that they are bringing to the marketplace.
Outside of a very short few sentences on how the software self adapts to the marketplace, there really isn’t much information about the type of strategy being utilized. The software trades 9 currency pairs, comes with a built-in money management that will automatically increase and decrease based on the perceived risk of the trade, and a volume tracker that isn’t explained in much detail.
- Type: Forex Robot
- Price: $129-299
- Strategy: Machine Learning
- Timeframe: Undisclosed
- Pairs: AUDUSD, EURCHF, EURGBP, EURJPY, EURUSD, GBPUSD, USDCAD, USDCHF, USDJPY
The Forex Kore pricing model is quite unique in comparison with the other Forex robots in this marketplace. The vendors four packages, the starter package at $129, the plus package at $159, the professional package at $199, and the premium package at $299. All of these accounts provide traders with free 24/7 support, free updates and access to 2 different types of licenses. The starter package any professional package provide traders with access to one or 2 trading accounts. Yet, the plus package and the premium package offer traders unlimited accounts as long as those accounts are run on just one computer or VPS.
Out of the 2 types of licenses, I would utilize the one that gives me unlimited accounts per computer or VPS, because that I could run many different accounts to test different trading setups.
At the bottom of the sales page, you can see 6 testimonials that the development team claims to come from Forex Kore EA clients. I don’t know if these are fabricated or not, but if I had to guess, I would say that they are. The writing style for all 6 of the testimonials is exactly the same, and definitely comes from someone that speaks English as a 2nd language. The practice of using fake testimonials isn’t a major drawback in this marketplace, as many companies use this approach, but in this case, it’s really quite sloppy.
On top of the fact that the testimonials all sound exactly similar, with 2 of them starting with the exact same phrase, “Perfect EA,” but it’s also a concern that the exact same 3 images are used for 6 different people. This isn’t a major concern, but it’s certainly not professional at all.
Forex Kore Trading Results
The Forex Kore development team is currently providing the community with one FX Blue account which is been running for 47 days. The widget they are providing doesn’t allow traders to access the FX Blue website, which is a little frustrating, but not the end of the world.
The account is showing a total return of over 125%, which accounts for a weekly return of just over 12%. These are very impressive numbers, but this is still a small sample size, so we have to be careful about getting too excited about the prospects of the system. The software is trading 85 trades per day, which is extremely frequent, and more that I’ve seen from any EA in a very long time. With EA’s the trade this frequently, it’s important that they have a very high winning percentage, or else things can go south in a hurry.
I wish I could do a little more analysis on the results, but as I mentioned above, there is no access to the direct FX Blue page.
I haven’t fully decided where I’m going to land on the Forex Kore EA at this point in time. I believe that there are both positives and negatives being presented by the development team, as it currently stands. I appreciate some of the information provided, and the fast gains of their trading results, but do have concerns about their fabricated testimonials, and why they would choose to go this route.
If there is anything you would like to add to this review, please leave your comments now.