Robot Review: Forester Forex EA

Forester Forex EA is an automated Forex robot built for traders that are “tired of trying to learn how to trade Forex” on their own. The developers of the software claim that they’ve created a cash generating robot that is the perfect solution for a trader looking to seek out profits. Today we will be providing a review, and letting you know if this is a viable opportunity or not.

The website was first registered in 2011, but this product has only been trading for around two months, so it’s likely they purchased an old domain, or was holding onto this for some time before putting out a product. The vendor provides no information about their identity, trading history, or location.

In order to get in touch with support, traders can email support@foresterforexea.com.

Forester Forex EA Review

The developers advertise the Forester Forex EA as the “internets number one Forex robot that is currently driving traders around the world wild.” Obviously this is an aggressive marketing page, because we know for a fact that this is not the number one Forex robot, nor is it even close. This is not a major concern, but it does go to show that the vendor is willing to blatantly lie about their product, in order to acquire more clients.

The vendor claims to have tested the robot privately with a small group of traders. This process went very well, and the general consensus from the testers was that the robot is quite unique, and unlike anything they’ve seen before in the Forex marketplace. We do believe that this beta testing process is likely just a marketing story as well, since we’ve heard it so many times from vendors in the past trying to convince us that they have the best Forex robot.

Strategy

According to the sales page, the Forester Forex EA is based on a set of complex algorithms. Sadly, this is the only sensitive that pertains to the methodology behind this Forex robot on the entire website. The vendor needs to provide much more detailed analysis of the software, to give the community a better idea of how it works.

The days of providing one or two sentences are gone, and as far as we are concerned that’s a good thing. Traders should expect a basic understanding of any automated trading software they purchase in 2020.

Robot Analysis

• Type: Forex Robot
• Price: $149
• Strategy: Undisclosed
• Timeframe: M5
• Pairs: EURUSD, GBPUSD

The Forester Forex EA comes in three different packages. All the packages provide traders lifetime access to the software, free updates, an instant download and 24/7 support. The only difference is the amount of licenses the comes with the package. One license costs $149, two licenses cost $199 and four licenses costs $249. The program also comes with a full 30 day moneyback guarantee, so that you can test the software for limited time and return it if you aren’t happy with the service.

Trading Results

The vendor provides a single FX Blue Forester Forex EA account, that’s been running for about two months. This account is showing a total return of 160%, with a drawdown of 50%. The software trades 3.2 times per day, with the average traade length coming out to 2.5 days. The win rate for EURSD trades is 61%, and for GBPUSD 67%. The average win ranges from 22 to 31 pips, and the average loss ranges from 26 to 40 pips, which makes for an acceptable risk reward ratio, especially when you are winning around 64% of your trades.

From what we can tell so far from this account, is that it’s being traded very aggressively. A 50% drawdown is very high, but so is the total return.

To be sure that the numbers are realistic, we would prefer the vendor to upload this statement to Myfxbook as well. We find that verified Myfxbook accounts are much more reliable at this juncture.

Client Feedback

There is no real client feedback at this point in time, as the robot has only been on the market for a couple of months.

Please check back from time to time, to see if the community has left any comments here, as they do on other reviews like Forex Draw EA and Hi-Tech Trader.

Conclusion

It’s really too early to determine the viability of the Forester Forex EA. As it stands, we would like to see much more information from the vendor before we purchase a copy. We would like to know the strategy behind the software, and see their trading account on Myfxbook to ease our nerves.

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