Today have looking at a subscription-based Forex expert advisor the claims to provide traders with a successful trading strategy since 2008, FX Hunter EA. This trading software has been around for some time, as their website was registered in mid 2013. This is not the 2008 number that they claim, but the 2008 is likely a reference to back tests and not about when the software was first released to the public.
There is no real information on the developers of this software, but their servers are located in Germany and they also provide a Russian version of their website. This leads me to believe that the developers are most likely of German or Russian descent. To get in touch with support, traders can email firstname.lastname@example.org.
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FX Hunter Review
Unlike many other expert advisers, the Forex Hunter EA developers admit that their software is utilizing a “very thought-out martingale strategy.” There’s very few developers in the Forex marketplace that will ever admit to utilizing a martingale strategy. This type of strategy is very dangerous, and in most circles just mentioning the word is enough to turn traders away. In this case, trades are added into a basket utilizing a grade strategy that they believe allows them to achieve success in any market conditions.
Historically, the issue with martingale strategies is that they are very high risk. If the market doesn’t balance out or come back, then there is a risk that the entire account can be blown. I’m not sure if the developers of this system have accounted for that, but they do have a my FX book account which I will analyze moving forward.
- Type: Forex Robot
- Price: $29/month
- Strategy: Martingale
- Timeframe: M15
- Pairs: AUDCAD, AUDNZD, EURGBP, EURSGD, GBPAUD, GBPCAD, GBPUSD, NZDCAD, NZDUSD
There are currently 4 ways to get access to the Forex Hunter EA, 3 of them are subscription-based. Traders can pay $29 a month, 6 $9 for 3 months, or hundred and $21 for a 6 month subscription. All 3 of these account types offer traders one license, full support and free updates. With the 3 month subscription traders get a 20% discount, and with the 6 month subscription traders get a 30% discount. They’ve also just added a lifetime membership which is going for $499.
I assume that the developers hope traders will sign up for a month and be happy with the EA, and then decide to sign up for a longer period.
FX Hunter Myfxbook
I first came across this trading robot on myFXbook, so it’s only fitting that I take a closer look at their trading account to see how it’s performed. This account has been running since September 2013, and shows a gain of over 21,000%. This is an extremely high number and you can see that in the summer of 2016 in the span of about a month the software went from 2000% over 21,000%. Considering the FX Hunter EA has been trading for over 3 years before this to month span, I wonder what happened to create such a large gain, and whether or not it was on purpose.
When you see an account with a large percentage gain like this is almost always a martingale trading system. For some reason this account has been able to stay alive. There are many people that suggest that the developers are manually closing a lot of trades which makes the system more of a half automated half manual type of strategy. Thus, if you aren’t aware of the strategy, and able to modify trades on your own, you may have some disastrous drawdowns.
There hasn’t been a review on the service in a very long time, so I’m hoping that some of the clients of the FX Hunter EA will come out of the woodwork and leave some of their responses. As of right now, I find it too difficult to recommend a martingale-based trading strategy to any of the Forex robot nation readers. With that being said, I hope to monitor this account, and discuss this system with anyone who decides to leave a comment with their experiences.
Thank you for stopping by, and please let me know if you’ve anything you would like to add to the review.