ForexRobotNation.com – Best Forex Robot & Expert Advisor Reviews Forex Robot, Expert Advisor 
Forex Steam, is one of my favorite creations. This trading robot is fresh and new with an update built to take profits to a whole new level. I’m proud to have put together this talented development team and today I’ll be telling you everything you need to know.
Just a few months ahead of our astounding ten year anniversary, the Forex robot that continues to grow accounts better than any other software on the market is providing a free update. Let me get started here by telling you what I’ve included in version 10 and what we can expect moving forward:
- Major Market Updates for 2022 and beyond
- Trailing Stop optimization for better usage
- Risk/Reward adjustments
- Max spread for avoiding bad trades
In this analysis of Steam, of which I am the owner/creator, I will be reviewing the features, results, client feedback and much more.
Current Forex steam members can go to the members area now to download the update for FREE. Non members, I have to tell you, this is a great opportunity, and a seamless way to create passive income.
Contents
Forex Steam 10 Review
It’s really quite surreal to me that the Forex steam robot has been successful for almost 10 years now. When this software hit the market I was extremely skeptical about Forex robots and never thought they would work for me. I’m happy to say now that 10 years later Forex steam has hit over $1,000,000.
It’s crazy to look around the Forex robot community and see how many robots have hit the shelves, failed and disappeared. Yet, our team at Forex Steam continues to provide free updates to make sure that the software is profitable for clients and proves to be both trustworthy and reliable in any market condition.
Strategy
As the software changes, so does the strategy and the techniques to use the software. Many traders now use Forex Steam as a time-restricted scalper, which is proving to be an easy and stable way to grow accounts. While many other systems attempt to over-achieve, Steam is always using a balanced risk profile to keep risk low.
There are many different parameters, all of which can be adjusted and tweaked to make the system fit your trading style. That being said, we prefer the default setup with very few changes.
If low-drawdown is an interest of yours, the EA only opens 1 trade at a time, so the max possible drawdown with default settings is 10%.
Indicators
While most scalpers rely on very few Forex indicators because they want as many trades as possible, the Forex Steam robot is much more specific. It is not reckless as most scalpers are, as it’s evolved over the years to include many different rules that need to be followed.
Here are a few of the Forex indicators used by the software:
- Standard Deviation – which helps determine future volatility.
- ADX Trend Strength – for ensuring the robot trades during ranging market conditions.
- Moving Average Convergence Divergence – utilized to help the robot follow the trend.
- Stochastic Oscillator – for momentum analysis.
- Relative Strength Index – used for technical analysis, measuring the magnitude of recent price changes.
- Williams %R – which is another momentum analysis tool measuring overbought and oversold levels.
With each indicator serving a direct purpose in conjunction with the other indicators, it’s a very complex trading strategy.
The robot also includes different proprietary indicators that have been added throughout the 10 years of development. Most of the proprietary tools are used to deal with small market shifts that happen frequently. The foundation of the Forex Steam approach is built around the core indicators.
Parameters
Forex Steam also comes with over 30 different parameters that can be adjusted by the client at any time. Most traders refer to these as the settings.
I’m not going to bother going into ever single parameter as they’re all discussed in details on the about page of the Steam website.
It’s just worth knowing that the software can be customized to meet the specific needs of each trader without much difficulty. The most common changes to these settings are in adjusting the max spread feature lower which helps avoiding volatility, and restricting the time the software trades to ranging markets.
Client Feedback
As is the case with any robot, there are going to be detractors, but over 90% of the comments and feedback for Forex Steam is positive. Every once and a while we come across a bad review, and these are generally from traders with little experience or little patience. We have also found many fake negative reviews from affiliate marketers with no trading experience just trying to compete and sell their product instead.
Just take a look at the rankings the Forex Steam clients are providing to see for yourself:
There are many Trustpilot reviews showing how happy the average client is with the EA.
This does not mean that every client is happy. In fact, there are complaints about how difficult the software is for new traders, and that there are not enough different set files provided. These are two aspects that have been brought up at recent meetings, and will be resolved.
No robot is perfect, but with the right customization, you can find yourself with a long-term winning machine.
Steam is rated incredibly high by it’s clients, and a big part of that is the fast response to all customer support questions. Don’t believe me? Email support yourself and see how helpful they are. By far, the best support in the robot marketplace.
Forex Steam Results
I’ve been very successful thanks to the Forex Steam software and the way it approaches entries is far and above any other software currently on the market. I truly believe that since the development team is so active that this ever-changing strategy will be fruitful for at least another five years.
Personal Tests:
This active test shows that our accounts are matching up with our clients which gives me the added confidence to deposit more funds on a monthly basis. The software can take a month or two to match up completely as there is a learning process in the software that makes adjustments based on the market, the leverage and the brokerage being used. This is a unique feature that no other robot on the market has been able to replicate (despite trying).
Forex Steam Conclusion
Forex Steam 10 is another move in the right direction.
I recommend this system to all of my readers 100%.
I trusted this robot 10 years ago, and I trust it still to this day. So much so, that we are now completely in control of the operation and using all of our knowledge, resources, coders, analysts and experts to make it better.
You really can’t go wrong with Steam, as it is one of the cheapest options on the market, and the longest running. I have full confidence in the EA, and know for a fact that we will continue to update the software for many years to come.
Forex Steam $117.99
- Pricing
- Strategy
- Trading Results
- Client Feedback
- Customer Support
Summary
A long running favorite of thousands of traders, the Forex Steam robot is known for being cautious and keeping a high win rate. The “light” version of the software is a steady gainer in both MT4 & MT5 with any brokerage.
Overall
4.2Pros
10 years active Proven performance record Multiple EA’s in one package 4 licenses Very low price
Cons
Risk reward ratio Untested on additional pairs
Hi, I bought the steam last week and start on friday with a real account and Steam works good ! 4 days winner. We are on tuesday today.
But I have a question Do we have to trade with Steam V9 only or we can with Team V52 and other V5 too by exemple? Wich one is the best ? May be someone can answer ? There is a telegram or discord group ?Thank’s and I’ll come back with other good news.
Hi Thierry, I prefer V9. The older versions were requested by some of the long time users of the system since it’s been around for 8 years. I don’t use them though.
First of all
thank you sir for your reviews
i am now about to purchase my first EA
so what do you think forex steam or forex fury?
and what is the difference that will make me choose one over another?
Thanks
Hi Mohamed, both are great systems. Which you prefer is really up to you. My #1 is Fury, my #2 is Steam, so you really can’t go wrong either way.
Should we let the EA run throughout the month? Do we need to turn it off for any of the holiday weeks coming up?
Hi Dwayne, it’s personal preference, but most traders will turn it off for holidays.
i bought forex steam last week,today was the first day i setup it for a demo testing,but it didn’t make any trade,i used default settings with news filter off,please any help regarding this..
Hi Navod, if you just set it up, and it’s only been running for a couple hours, then you just need to give it time. The EA trades based on market conditions and many other factors. It won’t blindly place trades for the sake of it. Patience is required.
so far it able to make a one trade with profit,i juat want to make clear that do we need to change the magic number(default 99999),for different pairs?
or we can leave it as it is for defferent pairs?
Hi Navod, I only run 1 pair per account. That is my recommendation. If you run other pairs, run more than 1 account.
Hi there,
I have noticed in the results that the lot is being increased with each new trade.
This is done automatically right?
If yes, does Forex Fury have this option?
Thank you
Hi Jo, yes this is money management. Yes Fury has this option as well. Just about every worthwhile EA has this built in.
Does FOREX Steam adhere to FIFO requirements?
Yes. There is a hedging function built into the software, but it is off by default. Generally, if I’m going to use any of the settings outside of the defaults, I use the trailing stop, never the hedging.
why robot 1 month has not made a deal
Hi Peter, the robot trades many times every single week. If you aren’t receiving trades, you should have emailed support by now. You probably just need to set the news filter to false.
if set news filter to false. it increase risk or not ? why the normal it can set right ?
I haven’t seen any risk increase by disabling the news filter. I haven’t used the news filter in years.
Good day
I see that you say that it holds trades open, then how does it knows when to close a trade in profit or must I close a trade manually?
Hi Corne, the EA closes all trades on it’s own. All I meant by that is the trades aren’t always short. I’ll see if I can reword it in the review to avoid confusion. Steam is 100% automatic.
Is it ok for Mac OS?
Yes, works the same on MAC OS.
admin what is the best and default settings to use the trailing feature an by keeping the pip terrace off, does it perform better than the default liver version with the trailing feature on or the default lite 7 pip to and 20 pip al is better , what’s Ur experience out of the 2
I’m not sure I totally understand the question bhash. I’ll say that I use retrace on some accounts, and trailing stop on others. They are both effective, and you can test them to see which you prefer.
Hi, I’m a new customer.
I bought the steam forex,
a question for the site administrator.
hi admin what will be the settings that you are using in your steam please share .
which broker you have been using, to have a very strong performance published. ?
thanks
Hi Emilio, thanks for commenting. I am currently running the default settings with Steam. Sometimes I will lower the TP and increase the SL. At other times I will use trailing stop, and disable pip retrace.
I find that these are aspects that can be played with by even inexperienced traders. You can see brokers I use here https://forexrobotnation.com/best-forex-brokers/
Hi. i just buy forexsteam 9 from your website. but i dont see it operation. i need help to set up over teamview
If you just bought it, and set it up, then all you need to do is wait. The EA will monitor the markets, and when there is a viable opportunity a trade will be placed. Just be patient for half a day and you’ll have a trade.
Hello
am using the Forexsteam with ICmarkets standard account and i deposited only 300 USD is it good or not ?
am not find any micro account with this broker ? please advice
Regards
Hi Tamer, any MT4 broker will work with Steam. As for questions specific to your broker, I recommend emailing your broker.
Hi,
I purchased Forex Steam 9, and I would like to know if it is possible to get more than one placed trade. I am looking to have 2 placed trades in every one trade. Example if the software place a trade, I want it to be placed twice to increase trades provided. how can I put that in sitting? I see there is Maxtrade =1, but I am not sure if it is where I put 2 in stead of 1.
Thank you for your support.
Hi Nobla, I haven’t played around with this. Emailing support is probably your best bet, or maybe one of my readers has tested this function and they can provide assistance.
Yes @Nobla…that is where you would change the amount to how many trades you want
Hi Fellows
Im busy testing PaulDV settings on a demo (one of the good guys on this platform) , trading Asian session 00:00 to 0600 like he does. results are pretty awesome thus far. account grew by 5% from yesterday. I enabled it and changed Max Trades to 2. everything else I left it as per PaulDV settings with same pairs he trades. $3000 account now at $3159 just from yesterday, that’s pretty good trading only 6hours of day. will let it run for this week. then next one I will test them live.
That’s great Zizi, it’s a smart approach.
Hi Could you please share the PaulDV settings please? I am trying to figure out best settings to roll with and would love to try that out.
Thanks!
Iโm using SL=60, TP=6, and restricting trading to between 00:00 and 06:00 GMT (basically the Asian session), and trading the following pairs:
AUDUSD
EURJPY (long only)
EURUSD
GBPJPY
GBPUSD
USDCAD
USDJPY
*These are PaulDV settings, on mine I left EURJPY and included NZDUSD , my loses were mainly from it(EURJPY) and my SL at 90 , retrace exist on false, and PaulDV set risk at 12.85, mine left it at 10… the Asian session is profitable mate trust me on that…trade 0000 to 0600 as per PauDV settings. since I left EURJPY im winning all my trades. all the best
This is really helpful Zizi, I’m going to start testing this as well.
Hi,
Just ‘signed up’ and downloaded – I have V5.2 & 5.2 with & without filters for EURUSD.
Should I have V9? I have request to support.
I notice ZIZI uses several different charts – is this with with V5.1 & V5.2?
The Steam website doesn’t appear to suggest other currencies.
Hi Peter, you can download V9 in the Forex Steam members area. Make sure to login and take advantage of everything the members area offers.
waht is the best pair for you Zizi
Hi there,
How soon after Steam EA is installed, Authenticated, configured and setup on charts, would the trades start? Thanks in advance!
Kindest Regards,
Vee
Hi Vee, that really depends on the markets. Usually, you will get 1 trade per day at least, but when the markets aren’t providing opportunities, Forex Steam is smart enough to avoid forcing trades.
hi to all, i am planing to best some best EA. kindly give some words about forex stream. its worth to buy? it have consistency to make profit. your advice are welcome !
Hi Vignesh, Steam is a very consistent EA that’s been on the market 8 years, with thousands of clients. Scroll down and read some of the comments for more.
Working very well for me, and while I’ve looked through quite a few comments I do wonder if anybody has been testing different pairs in 2018? I just want to know if there’s a way I can get more trades and diversify a bit with Steam.
I like it either way, but I wouldn’t mind putting all my 4 licenses to good use.
Hi Brad, how long have you been running Steam?
Been using Steam since early 2016.
But that doesn’t mean I’m not looking for more ways to win with it. It’s been a good run in over 2 years, but lately I want to see if I can use it on some other pairs to win even more.
Anyone testing any different pairs? Haven’t heard anything yet. Don’t keep it a secret from me.
Bro, you’ve been running it for over 2 years and you’ve never thought to test out other pairs? Try to demo other pairs, some people have found success in their comments below, I read through all of them, you can probably too.
Very stable, working with EURUSD M5 light version.
Hi
I have been using lite version on EURUSD and it seems to work fine.
I am wondering what is the performance like for the regular forex steam on a 30Min chart?
Has any one tried forex steam on 30min chart?
I’ve tested the 30 min, normal version. It’s okay, but seems a little riskier than I like.
I prefer light version, but I’m happy they do provide multiple EA’s for the one price.
hi i have 600 eur deposit i use default light version?
Hi, yes I prefer the light version. 99% of the Steam clients do.
hi friend what is the profit percentual montly of this EA and the Forex Fury
Both aim to achieve anywhere between 20-40% per month, compounding.
Testing XAUUSD over the past few weeks. I’ve been undefeated with default settings.
Looks like Steam has a good hold on trading GOLD.
It’s at the point now I think other people should use a demo account and try it out.
-Peace
I just started this as well MWP, thanks for the recommendation.
Looking good so far.
Hi everybody,
I purchased Steam today and I will start testing it with a demo account next week. I have still some questions. I was wondering can I use the EA on more than one pair on the same account or do I need a different account to do this? And 4 licenses means I can use steam on 4 different accounts? Your help is appreciated.
Hi Wassa, you can use the EA on more than 1 per per account, but I prefer trading just 1 pair. Yes, you can run on 4 different accounts. I recommend using them all, even if they are just demo accounts, so that you can test out all the different features Steam has to offer.
hello, I bought the two robots, steam and fury ….. and in original configuration or modifying according to the recommendations .. I have no trade that open.
thank you
Contact support, they will help you make adjustments if any are required.
Can Forex Steam be used in a US regualated account (FIFO, etc.)?
Hi Paul, yes it can. The hedging feature that comes with the light version is off by default.
My personal favorite.. using trailing stop right now.. and just winning constantly. Definitely check this one out.. and use the trailing stop its not even on by default.
Did you turn off the pipretrace feature as well? pls share your settings?
Looks like Steam is on another roll. Last two weeks have been phenomenal.
hello blair its your own steam ea trading results.
Yes, these are my results Kumar.
please your steam ea setting please
Hi,
are you trading live? and how much is your capital startup?.
you got take the VPS monthly?.
Please advice.
Thank yoju.
Yes, I trade live.
I started with $500.
No, I don’t use a VPS.
1. Do you use trailing stop or change any setting to suite your trading?
Or you just use default setting to trade on your live account?
2. regards vps , you keep your laptop or computer ON for 24 hours?.
Thanks for this – really interesting. I’m in the UK and am thinking of starting with ยฃ350 with FXPro as a broker. They seem to offer negative balance protection which looks as if it’s to stop you from going into debt should the worst happen. That added safety feature really appeals to me.
I’m a newb where forex is concerned but I have done Betfair trading. Are things such as stop losses in essence the same? I assume that they can be adjusted accordingly?
You can adjust all the settings with Steam, which it makes it the perfect tool to fit to your trading style.
How long have you been using this robot
Pls are you using the default settings or your own personal settings? pls share your settings?
Hello,
Could you give your opinion on Forex Fury vs Forex Steam.
There is quite a price difference and as I haven’t been successful trading manually I would like to try a robot and I am impressed with your reviews on both these bots.
As far as ease of use are these bots both easy to set up and run? and as a first time bot user which would you choose?
Brian
Hi Brian, both are excellent options. I recommend reading through both websites and picking the one you feel best about. They are both easy to set up and run.
Good day
I need to start with the Forex Steam, but can only afford $200.00 in my account, would that make me money, or I should just increase it to $300,00, as suggested?
You can start with $200, just open a micro account.
Hi all, im interest in this EA, but not sure its really work or not, currently i use Hotforex and Xm to trade, and this EA must use in ECN account? Or any good broker introduce can get good result for this EA? Im from SG.
Hi Winson, you can use Steam with any broker. It’s been tested with hundreds.
Hi Admin, thank for the answer, any promotion on the EA? No expiry date on it right?
Hi Winson, the EA never expires. Check for a coupon before the comments section in this review.
Hi Admin, thank you.
Great start to the week already grabbed 30 pips this morning ๐
Long time Steam user here.
Hello, is it really works?
Yea, it works great Ivan. Been running Steam on my accounts for years.
hi jack can you share your settings on this ea thanks I m a newbie …
I usually use default settings. The only time I change the settings I just turn pip retrace off and turn the trailing stop feature on.
Hi All. Just a quick question to those only trading the Asian session, where do you set the trading timeframe. I can’t see that setting in properties unless I’m missing something? Do you use a custom script on top of this EA?
Turns out I was using V5…luckily on a demo account
Ah yes, everyone make sure you are using the latest version, unless you have experience with the older version and prefer it.
hello, is that true that admin are using this robot live for 5 years?
i want to use it
Since the EA was released over 7 years ago, I’ve been using it, and upgrading every time there is a free update. It’s one of my favorite EA’s of all time, and the price has surprisingly never gone up.
i also use ea very long time, and must say it worth the $119, easy invest, thank you.
Finaly, an EA that really works.Thumbs up!
Glad it’s working for you Kostadin.
i am win many trade now, with many success, but i want to know now if i can use other pair and win even more.
Hi Mahm, I’m focused on EURUSD, but I know some other traders have had success with GBPUSD. You can also limit the times of day it trades, to employ a more specific approach.
Try USDCHF mahm, I have a 23 trade win streak going on this pair.
Good luck!
hello
which trading pair is the best to use forex steam light v9?
5min chart on EURUSD?
or which pairs?
thank you for support
Yes, EURUSD is the pair I use.
Hi
If you are trading Steam on multiple pairs, how are you finding the carried open trades? Does the bot work its way through them finding profit and closing so you dont end up with many open trades eating your profits away? Are you just leaving it to run over 24/5 or closing for the Asian session?
Why is my steam only trading once per day? this has been going on now for three days in a row. My settings are default. Do I need to change my trading times?
Thank you.
Hi Sean, sometimes the EA trades once per day. This is not an issue. It just means the EA is doing it’s job and analyzing the markets for opportunities. When there are no opportunities Steam uses an intelligent process to avoid bad trades.
hi admin what will be the settings that you are using in your steam please share thanks
Hi Emanuel, I’m currently running default settings with Light V9.
If you want more trades you can set the news filter to false. I haven’t used the news filter in years without any problems at all.
Hi Dean88,
With the News Filter set to False, do you manually manage high impact news events or do you simple leave Steam to do its thing in this time?
Regards
Bennie
I have been bought FS for over 1 month. I run it on a demo account of tickmill and goes well. Now I run it on a real account.
I test it on 4 pairs they are EURUSD, GBPUSD, USDJPY & EURGBP, but I do not reccomended run it on EURGBP bcoz it runs bad.
Thanks for letting us know Li. I have never actually tested EURGBP, so I appreciate your insight.
hello , im willing to buy this EA but i dont know anything about it , how it works really ? can i have a brief about it ! do you suggest me to buy it ? thank you
Hi Ali, the EA analyzes the market, and trades on your behalf. For more information, I recommend reading my review, and going to the official website.
Hello Ali!
First of all, from my personal point of view, what is certain is that this EA can be bought, it really has a unique place. And then again, no matter what kind of EA you buy, you finally need to learn a little bit about market analysis and money management. EA is just a tool, and analysis is the most important.
No matter how powerful EA, there will always be times when it is not suitable for the market. This is the same reason as manual trading. To start trading, you need to control risk and try it from a little bit of money.Finally, EA, like manual trading, has its own personality. You need to find the right one for you. Otherwise, your emotions will fluctuate greatly.
Hi Li,
Can you explain me how can i add second pair to the same platform mt4? I mean to run with Forex Steam the two pairs!
I have a good run of wins here right now, and I like the way this works very much so.
Glad to hear that Bliss.
Me too, 19 out of my last 20 trades are wins.
Hello Reaume
Would you be kind enough to share your settings for the newbies here.
Regards
Jay
I’m using the default settings that come with the software.
The only different thing that I do is that I manually monitor the news and sometimes turn the EA off.
I know there is a news filter built in, and I’ve heard it works well, but I like to play a small role in the trades. Makes me feel like I have a little control.
Hi, may I ask what settings you are using and how many trades are you getting per day?
Just mentioned above you, but I’m using default settings. Per day it varies. I get 5-15 per week.
Hello Admin !
With what account leverage you are open your account for Forex Steam ?
Thank you.
Multiple accounts with a bunch of different leverage Pierre. It doesn’t hurt performance.
Simply my favorite EA of all time.
I’ve been using steam over 5 years, update after update it continues to impress. The best $119 I’ve ever spent.
Wow 5 years Jayne!? That’s amazing. You’re one of the originals, congratulations.
Hi JayneForex,
So glad to see that Steam can be a successful long term trading strategy.
Any suggestions or advice that you can give newcomers?
Regards
Bennie
May I ask you what settings you using
Do you run FS during the full day, or do you find it to be more effective during the Asian session than during the the London/NY sessions? I notice that it consistently takes trades during the Asian session and not always during the London/NY, so it seems to prefer those conditions and I wonder if it would be smart just to turn it off outside of the Asian? Any thoughts?
I run it all day Nikoprifti. You have multiple accounts, I recommend testing this strategy you’ve thought up and reporting your results.
Can I use forex stream 9 on RDP?
Hi Nitinun, you can use any EA on a VPS via RDP.
the expert works very well on Monday, Tuesday, Wednesday and Thursday, and on Friday I do not have a deal wherever I’m mistaken in the doctrines-help me understand
Hi Peter, Steam doesn’t trade Fridays.
How are FS users managing open EUR/USD trades with pending major news events? Does your approach differ depending on whether the open trade is currently negative or positive? I don’t yet have a consistent approach to these situations that I can rely on, so when I get caught in one I tend to panic and close the trade whether it is winning or losing, in fear of losing profits in the case of winning trades or hitting the stop loss on losing trades. This usually ends up being a bad decision (either way) in the long run. Can anyone weigh in who has experience on what has worked for them? Thanks.
Hi Nikoprifti, the majority of the time I just let trades run, with or without the news filter. I find the EA makes the right decision much more often than it doesn’t.
Based on the comments here, Is steam a consistent winner every month? How about the drawdowns?
Absolutely, the drawdowns are low as the EA only opens 1 order at a time.
What a great week we are having here, 8 straight wins!
Awesome Suren, I’m winning a lot with Steam lately too!
@Admin,
For you live account above are you using default settings with news filter false? thanks
Hi Paul, most of the time I don’t use the news filter.
16 straight wins right now. Best I’ve ever had is 23, so let’s hope to set a new record!
Hey Sam, How many pair are you trading ?
i have a frown face on my chart for steam when i sync it to my vps service, is it still working?
Hi Sam T, this just means you have to allow experts advisors and live trading. This is simple to do, and it’s shown in the members area video.
Been a long time since I’ve checked in.
Just want to let you all know that Steam is still winning. It was a bit stagnant around Christmas time, but it’s starting to roll here in March. I like what I see projecting into April as well.
Any settings changes at all Jack?
I use a TP of 7, which was reported here in the comments section a while ago.
This lowers the profit per trade, but the EA wins trades much faster with this setting and doesn’t get near any bad drawdown numbers.
Hi Jack. Thanks for sharing. I’m also pretty enthusiastic about FS. However, I’ve only been using it live for about 2.5 months, so I’m still feeling things out. Since you endorse the 7 TP, I’m wondering if you’ve looked at it statistically over the time you’ve used it. Honestly, it doesn’t appear to be any kind of advantage on winning or losing trades during the time I’ve used the EA. I analyze every trade with this in mind (demo and live). I can only see that one misses out on a lot of pips with the 7, with literally a couple of trades that would have benefited from the smaller TP. What do you think? ~Steve
Hi can you please share your settings steam you using take profit 7 what about stop loss?