Forex Flex EA
The Forex Flex EA website describes their forex robot as a simplistic and flexible trading tool. It is also said to execute trades with utmost precision using new trading strategies. Most forex traders have exaggerated win rates and talk of secretive proprietary algorithms.
Forex Flex EA, however, doesn’t explicitly concentrate on percentages of what clients expect by buying and using their trading software. The trader has built a reputation online of stellar customer support with few cases of emails that never get replies or denied refunds.
Does this make Forex Flex EA a reputable forex robot? To arrive at this conclusion one first needs to understand the company; more importantly, you need to understand the effectiveness of the winning trading strategies they promote and sell to their clients.
Here is a breakdown of how the system works and a few red flags worth noting.
How does Forex Flex EA work?
The trader claims to have developed new and innovative ‘virtual trading software.’ This opens and runs several virtual trades in the background and uses the results achieved by the virtual trades to execute precise real trades.
The trader has also come up with a list of trading strategies available that clients can choose from. Some of the most popular include Default, Big Default, Scalper, Flex Hybrid, and ADRDynamic.
Setting / Recommendations
- Currency Pair: Work Best On GBPUSD, USDJPY, USDCAD, USDCHF, EURUSD, AUDUSD, EURJPY, EURCHF, EURGBP, NZDUSD (but work in any Currency Pairs)
- Equity: $1000 on a standard account should be the minimum starting balance.
- Time-Frame: Work in Any Time Frame
- Leverage: 500
- Broker: Zero Spread/Fixed Spread/Raw Spread or ECN Broker: To Know More-Click
- VPS: Let the EA work un-interrupted with VPS: Click Here
Forex Flex EA uses a newly produced innovative technology involving “virtual trades.” Forex Flex will open virtual
trades in the background, using them to continually observe the market to help determine the perfect entry point.
Then Forex Flex will start opening and maintaining real trades automatically. No automated system can work long-term
without consistently updated settings. Flex features an automatic update system, so you can be sure Forex Flex EA is
always up to date with the newest, best-performing settings for the current market
conditions. Yet another new innovative feature of this EA.
Work Best On GBPUSD, USDJPY, USDCAD, USDCHF, EURUSD, AUDUSD, EURJPY, EURCHF, EURGBP, NZDUSD
(But work in any Currency Pairs)
Work in Any Time Frame
12 Selectable Strategies
$10 on a nano account, $100 on a micro/cent account,
or $1000 on a standard account should be the minimum starting balance.
This New market monitoring virtual trade technology brings precision entry points that no indicator
can compete with the Forex Flex. The default settings will use six virtual trades per currency pair to
observe market conditions. Lowering this number will result in less accurate entry points, but a higher
Raising this number will do the opposite. When the market shifts, this is one of the main settings,
we could end up changing easily.
How often does it trade?
This depends highly on the number of charts you run, the strategy you select, and market conditions.
If running 5 charts on default strategy, expect 4-8 trades per week. If 10 charts, expect 8-16.
No stop loss with most strategies exposing the trader to risk
Most of the strategies sold by Forex Flex EA adopt the traditional martingale style of trading and disregard the need for stop-loss orders. The high-profit potential strategies like Super Precise and Full grid are most affected. But they don’t mention this to new users and learning through experience affects more than your trades, it blows your account when the markets defy the trader’s strategies.
Uses demo accounts for marketing
Forex Flex EA may have established some level of legitimacy with its customer support and several strategies. However, they seem to regularly fall back to the classical con game of using demo Myfxbook trading history to draw in clients. Some of the trading results posted on the company website as ‘proof’ of the effectiveness of various trading strategies are depictions of a demo account and not the history of a live trading account.
Requires small take profit targets
When trading using the Forex Flex EA strategies, you have to either risk it all with a martingale style trading and win or lose heavily. Alternatively, you can trend safely with a strategy that uses a stop loss and only make enough to remain afloat. In this land of extremes, you only have two options.
You can try your hand with unprotected trades where you end up reaping handsomely or blowing up your account. Or make as much as you would have traded manually when you use their low stop loss and take profit activated strategies.
These low profits beat the logic of paying $1000+ for an expert advisor only for the trader to make you as much you would have made without its input.
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DISCLAIMER: Please read carefully before you decide to Invest in Forex Market
- Forex Trading is dangerous and can result in a substantial loss of money. Due to the uncertain nature of the Forex market, there is no guarantee that our products will produce any favorable results. Before you purchase please read our RISK DISCLAIMER.
BEAR THIS IN MIND: The Forex market changes from day to day, and that past performance can therefore not be guaranteed to repeat into the future. Past performance shown and in videos may use aggressive trading approaches and risk management to prove the potential of the Forex robot over long periods. Because of this we recommend that you test the EA on your own broker account using many variations of currencies, time frames and settings to make sure you experience favorable results in current market conditions before trading live accounts.
- Forex Trading EA/Robot is just a piece of Programming to Sophisticate your trading but never guarantee your winning.
- Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. No representation is being made that any account will or is likely to achieve profits or losses similar to those that may be shown.
- Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown.
- Before deciding to trade products you should carefully consider your objectives, financial situation, needs, and level of experience. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose.