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Robot Review: Forex Alpha EA

Forex Alpha EA is a new automated trading robot that is built to adapt to all market conditions and trade 24 hours a day. It is compatible with all MT4 brokers, and claims to be able to deliver “double-digit returns even during the worst economic crisis.” With a lot of discussion about around the fear of a global recession, it’s likely the vendor believes that now is the perfect time to use this information to promote their latest product.

The vendor provides no information about who they are, where they are located or the type of trading history they have in the Forex marketplace. There is a link to an about us page, but this page doesn’t exist. This is definitely something that should be rectified, so that the community at least has the bare essentials. With hundreds of different robots available, it’s very difficult to consider purchasing one that lacks transparency when many of the others do not.

If you want to contact the support team, you can fill out a contact form at the bottom of the website. No direct email address is provided.

Forex Alpha EA Review

There are 6 reasons why the creators of the Forex Alpha EA believe that their trading robot stands head and shoulders above their competitors. These reasons include their advanced money management system, broker compatibility, 24/7 support, multicurrency trading, ease-of-use and adaptive trading strategy.

They feel that their basket trading approach with a currency pairs should immediately qualify them as a best Forex robot provider, but we’ll be the judge of that.

Strategy

The development team believes that they’ve created a trading system is able to profit from the slightest movements in the market as they have “the most up-to-date trading logic possible.” This trading logic consists of “automatic leverage levels,” a unique feature where the development team claims that the software will automatically modify the leverage based on the performance of the trade. If a trade is performing well, then the leverage will grow, but if the trade is losing, the leverage will be capped at a predetermined level.

We aren’t exactly sure how this works, and would like to see an example of it in action to make sure that it’s real, and not just marketing jargon.

This is the only aspect of the strategy the vendor provides the community. There is no real in-depth methodologies, outside of the discussion of the one leverage based feature.

Analysis

  • Type: Forex Robot
  • Price: $199
  • Strategy: Leverage
  • Timeframe: H1
  • Pairs: EURUSD, AUDUSD, EURCHF, ERUGBP, EURJPY, USDCAD, USDCHF, USDJPY

The Forex Alpha EA is currently available for $199. At this price, traders get access to one real account, unlimited demo accounts, free updates and a 60 day moneyback guarantee. There is also a coupon available “20OFF” which gives traders access to a 20% discount for a limited time.

It’s also worth noting that this company is not associated with Pure Alpha, which is a separate robot from a different developer.

Results

The vendor provides us with a single FX Blue account, and a bunch of different backtests. There are no Myfxbook accounts, which is disappointing, because Myfxbook provides the most transparency when it comes to verified trading results. We have found FX blue to be less reliable, and have seen many strange trading accounts on this platform which only leads to increasing our skepticism.

The FX Blue account being provided by the Forex Alpha EA developers is showing a 320% gain in just under 100 days. This comes with a monthly return of over 50%, a trade winning percentage of over 70% over 34.5 trades per day. The average trade length is 32 hours, and the drawdown is 39%.

The numbers being provided are great, but without seeing them on Myfxbook, we have to remain skeptical. We simply aren’t sure these results are reliable and questions about whether or not real clients will be able to reproduce them.

Client Feedback

Considering the product just hit the market over a month ago, there is no real client feedback at this time. We hope that you will at some below the article if you decide to test the program.

Conclusion

Is really too early to come to a conclusion about the viability of the Forex Alpha EA. The website looks okay, and they do provide some interesting information about their strategy, but we aren’t so sure about their trading results in the overall lack of transparency in their presentation. We plan to wait and see what the community has to say about the program, before we take any further steps.

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

Forex Alpha EA $199
  • Pricing
  • Strategy
  • Results
  • Client Feedback
  • Customer Support

Summary

Forex Alpha EA is a Forex robot that appears to have blown their trading account.

Overall
2.5
Comments Rating 0 (0 reviews)

Pros

19 years of backtest data
Free updates
24/7 support
Unlimited demo accounts

Cons

No myfxbook accounts
Little strategy insight
Too new for client feedback

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

3 comments

  1. Yes it is SCAM. It is same free Forex Hacked Pro.

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