EA Review: FXEurGrid

FXEurGrid is a new expert advisor focused on the EURUSD pair exclusively. The developers feel that by putting all their efforts into one currency pair, that they are able to provide the very low risk approach to grid trading. Generally, grid trading is a high risk trading approach that has destroyed many accounts over the years, which makes it important for us to do this review and analyze the pros and cons of this Forex robot.

The website contains no information about the developers, their trading experience, or where they are located. In our additional research, it’s clear that the system is developed by the same people that developed ForexBot28. Both websites look exactly the same, and are hosted on the same Web server. Both robots also have some sort of relationship with the Forex Store, and its possible that they are the true owner of the software. This is unproven, and simple speculation. To get in touch with support, traders can fill out a contact form on the website, as no direct email address is provided.

FXEurGrid Review

The FXEurGrid website comes across as incomplete, as there are only a few sentences describing the system. This is always a point of contention for us as we feel that all investment opportunities should provide a full in-depth description of their services.

Trading Strategy

As the name suggests, this robot utilizes a grid trading strategy. As previously mentioned, grid trading is one of the most risky trading approaches in the automated trading marketplace. There is a large amount of traders that avoid anything that has to do with the grid or martingale trading, because they are 2 strategies most known for blowing accounts.

This case however, the vendor claims that the system utilizes a drawdown limitation technology so that the system doesn’t risk your entire account when it starts trading. This technology is not explained in much detail, and neither is the rest of the trading strategy.

The only other aspect of the system that is covered, is that it provides 3 different trading modes, safe, normal and aggressive. Each of these trading modes as a minimum deposit requirement, so at least you know how much money is required to utilize the EA properly.

EA Analysis

• Type: Forex Robot
• Price: $220
• Strategy: Grid
• Timeframe: Any
• Pairs: EURUSD

As it stands, the FXEurGrid robot is being sold for $220. For this price, traders get one lifetime license, the user manual, free updates and 24/7 friendly support. This package also comes with a 30 day moneyback guarantee, so traders can test the system and refund it if the first 30 days doesn’t live up to their standards.

Trading Results

The vendor provides a Myfxbook account, which shows the FXEurGrid trading from September 2019, until now. The account is a live Cent account, which means that the vendor isn’t willing to invest much real money into the software. This can be concerning, but we won’t stress it too much because we are simply happy that they are providing verified results at all.

The trading account is showing 88% gain, and an 18% drawdown. The average trade duration this 4 days, and the system has placed 226 trades since it was launched.

These results are impressive, but we do have to wonder why the vendor isn’t willing to put more money into this account. They are essentially charging us more money for the robot, then they are willing to invest in their strategy.

Again, this isn’t a major concern, but it is something worth noting when analyzing the best Forex robots available.

Conclusion

For the most part, we like what we see from the FXEurGrid, but there isn’t enough information provided by the vendor to give us a true understanding of how the software works. Thus, at this point in time we don’t believe that it’s in anyone’s best interest to dive in immediately. We would like to see more feedback from the community, and hopefully more information from the vendor about how the software works. Once this information is provided, we will revisit the review, and potentially provide a recommendation.

If you have anything you would like to add, please leave your comments and questions below the article now.