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Robot Review: Forex EA Trader

Forex EA Trader is an automated robot that’s been on the market for going on 2 years. During this time it hasn’t accrued much of a reputation, but they claim their clients are part of the 4% of Forex traders that are succeeding in the market, so we will provide further analysis.

The vendor provides no information about their whereabouts, or the type of trading history they have in the Forex markets. They should certainly offer up more information about who they are, so that we can develop more confidence in the team.

To get in touch with support, traders can email Support@Forex-Ea-Trader.com.

Forex EA Trader Review

Our first impression of the Forex EA Trader service isn’t great. The aesthetic of the website is quite poor, and comes across as something slapped together over 10 years ago.

While many feel that the design of a website has no bearing on the product itself, we tend to disagree. We feel that a vendor who doesn’t realize their website looks bad, has some judgement issues. Designing a website is simple, much simpler than putting together a Forex EA. So, can we trust a bad web designer to do something even more complex?

Everything matters when you are investing, don’t forget that.

Trading Strategy

The Forex EA Trader vendor provides very little about their trading methodology. The only aspects they discuss, are basis elements found in just about every expert advisor on the market.

These aspects include automatic trading, money management, optimized default settings, multiple currency pairs, jump stops and break evens. None of these parameters or features are discussed in any detail, so we don’t know if they are being used properly, or if they can be trusted.

The lack of insight is glaring, and it is not on the level of the best Forex robots in the market, in this area.

Robot Analysis

  • Type: Forex Robot
  • Price: $237
  • Strategy: Undisclosed
  • Timeframe: Undisclosed
  • Pairs: Any

According to the sales page, the Forex EA Trader is currently on sale, down from $499 to $237. From what we’ve seen so far, even $237 does come across as too expensive.

The robot an also be acquired for free if traders sign up with AvaTrade through the vendor affiliate link, then deposit $250-$300 minimum. After doing this, all the trader has to do is email the vendor for their free copy of the robot.

Trading Results

The website is filled with different screenshots of MT4 platforms, backtests and Myfxbook accounts. The Forex EA Trader doesn’t provide direct access to the Myfxbook accounts on the website, but in our additional research, we did find them.

The screenshots on the website provide no real use. All that matters is the Myfxbook accounts, and they are really quite strange.

One of the accounts is showing a 7000% gain, but this account is not verified, and the broker isn’t provided. It also hasn’t run in over a year, so this account isn’t worth anything.

Another of their strange Myfxbook accounts is showing a 229% gain, but a drawdown of 100%. Which means the account is dead, but it isn’t showing that it’s dead. It’s also not showing a normal equity curve.

The only account that seems somewhat normal is showing a 53% gain and a 58% drawdown. So it’s not really anything to write home about either.

It’s clear why the vendor doesn’t provide access to their Myfxbook accounts. They are strange, and really seem like the vendor is trying to manipulate the platform in any way they can. At this point, they’d be better off with no results like many other products we’ve recently reviewed like Pro FX EA, and Forex Trading Robot DAVE.

Client Feedback

There are 5 client reviews on FPA, for a total score of 1.9 out of 5. The majority of the clients claim that the customer service is very poor.

The vendor does respond to these claims, but not in a professional matter.

Conclusion

As it stands, we see no real reason to recommend the Forex EA Trader. They offer little trading methodology, and the trading results are either bad or just strange.

If you have anything you would like to add to the review, please do so now.

Forex EA Trader $237
  • Pricing
  • Results
  • Strategy
  • Client Feedback
  • Customer Support

Summary

Forex EA Trader is a Forex robot with results we just aren’t sure about.

Overall
2.1
Comments Rating 0 (0 reviews)

Pros

Myfxbook accounts

Cons

Poor / strange results
Bad client feedback
No strategy insight

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.

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