Forex Steam requires a trading account with a forex broker and the MetaTrader 4 trading platform to run successfully. You are required to have your MetaTrader 4 running during trading hours for it to work.

Forex Steam breakdown

1. Development

Forex Steam is already in the 10th year of development.

2. Packages & Prices

Forex Steam lifetime membership, which provides you with the following: instant access, all versions of Forex Steam, free upgrades for life, four licenses, free installation, no upsells for a price of $117,99

3. Pairs

4. Timeframes

Forex Steam runs and executes trades on the M5 and M30 timeframes.

Trading strategy

Forex Steam comes with two different versions:

• Light strategy
• Normal strategy

Both strategies use trends but light trades on M5 timeframes, while normal trades on M30. Both function very well. They can also be customized to your specific style and used simultaneously with the same broker.

You can see Forex Steam settings in the picture below:

Forex Steam also has a news filter to avoid trading during low, medium, or high impact news. Other features that it includes are:

• Holiday filer
• Pip retrace
• Spread filter
• Trailing stop
• Break-even money management

You can see an example of the Forex Steam Light risk M5 timeframe parameters that the user can manually change:

Forex Steam backtesting

Forex Steam only offers backtesting results on a demo account for a EUR/USD currency pair.

There are no backtests found for Forex Steam to see how it has historically performed on the other five most successful currency pairs. It would be great for anyone choosing an EA to have the information of the statistics and the activity throughout various market conditions for a more extended time period.

Forex Steam live results

Forex Steam has provided account statements on their website, but they are not from live accounts. The results are positive, but they can’t be validated since they are all on demo accounts. Another negative is the risk to reward ratio that can be seen on the statement on their website. Lossing trades are two times bigger than the winning ones, meaning that the risk to reward ratio is negative.

Clients comments about Forex Steam

Forex Steam has great feedback from its reviews.

On Trustpilot, they have a large variety of their community giving positive feedback with a great score of 4.2/5 out of 51 reviews.

A vast majority of Forex Steam’s community praises the fact of how easy it is to use, and if you run into any kind of problems, simply contact their support team, and they will guide you throughout the process.

On Sitejabber, you can also find many positive reviews about Forex Steam with an excellent score of 4.83/5 from 59 reviews.

Many comments from clients are positive primarily because of the consistency Forex Steam provides with its trading algorithms.

Conclusion

In conclusion, Forex Fury is an EA that can hit more significant drawdowns at times, meaning that it can be a greater risk but potentially more rewarding. Despite all of that, their community shares a lot of positive comments on Trustpilot and Sitejabber about their EA.

You receive full detailed instructions, support, free updates for life, and a money-back guarantee when purchasing Forex Steam. Another positive feature is that you can reach out to the developer if you desire an answer to any specific question since they state that they will do everything in their power to ensure their clients’ happiness.

Forex Steam is a consistent EA that is still improving, with the main problems being large drawdowns, backtesting data lacking quality, and live results only on demo accounts.

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Swing VIP breakdown

1. Development

Swing VIP has been in development since April 2021.

2. Prices & Packages

Swing VIP, which provides you with the following: one live account, one demo account, free updates, superb customer support for a price of $145

3. Pairs

4. Timeframes

Swing VIP runs and executes trades on the M5 timeframe.

Trading Strategy

Swing VIP has a trading algorithm based on price action analysis and trend trading. Price action is a trading strategy that helps traders read market conditions and make trading decisions based on recent and present price movements.

Trend trading is a trading strategy that uses technical indicators to identify the direction of market movement. It analyzes historical trends and price movements to predict the market direction, meaning that the trader tries to predict what will happen in the future.

Swing VIP backtesting

Swing VIP only has backtesting information for recent months, which you can look at in the video below:

They have no backtests for more extended periods, which would be helpful information about how the EA has performed historically.

Swing VIP live results

It is essential to keep in mind that any results shown by Swing VIP are based on historical data, which doesn’t guarantee how the robot will perform in the future. It would be best to consider the risks while being involved with trading online.

Clients comments about Swing VIP

Swing VIP has no client comments on Trustpilot and Sitejabber.

You can find some clients’ comments at the bottom of their website, which you can access by clicking here.

However, you can check SinryAdvice, the creators of Swing VIP, on Trustpilot. You can see that some reviews mention this robot and give positive feedback about it.

Conclusion

In conclusion, Swing VIP is a fully automated EA that trades AUD/CAD, CAD/CHF, EUR/USD, NZD/CAD, and USD/CAD on the M5 timeframe. They have excellent results with average drawdowns. The feedback about Swing VIP is very positive, and Myfxbook also verifies it.

Swing VIP has a trading algorithm based on price action analysis and trend trading. Price action is a trading strategy that helps traders read market conditions. Trend trading is a trading strategy that uses technical indicators to identify the direction of market movement.

The only flaw that Swing VIP has is the fact that it is relatively new and that it only has backtesting data for a few recent months, not a more extended period to gain historical data about its performance.

The post Robot Review: Swing VIP appeared first on Forex Prop Reviews.

Promax Gold EA breakdown

1. Development

Promax Gold EA has been in development since March 2021.

2. Prices & Packages

Promax Gold EA, which provides you with the following: one live account, one demo account, free updates, superb customer support for a price of $198

3. Pairs

With Promax Gold EA, you can trade XAU/USD on the M5 timeframe.

4. Timeframes

Promax Gold EA runs and executes trades on the M30 timeframe.

Trading strategy

Promax Gold EA can be considered one of the most efficient gold trading robots on the market. It has an intelligent news filter that analyzes the market through technical and fundamental news. Since the EA is fully automated, it executes and closes trades automatically, meaning that you only have to set it up on their default settings, and it will run on its own.

Promax Gold EA has an innovative grid trading system that starts when it goes into drawdown, intending to close the trades in breakeven without losses. Using this trading system can be risky since trades have a chance to not return to breakeven, so make sure you understand how intelligent grid trading systems work and all the risks that come with them.

Promax Gold EA backtesting

Promax Gold EA only has backtesting information for recent months, which you can look at in the video below:

They have no backtests for more extended periods, which would be helpful information about how the EA has performed historically.

Promax Gold EA live results

It is essential to keep in mind that any results shown by Promax Gold EA are based on historical data, which doesn’t guarantee how the robot will perform in the future. It would be best to consider the risks while being involved with trading online.

Clients comments about Promax Gold EA

Promax Gold EA has no client comments on Trustpilot and Sitejabber.

You can find some clients’ comments at the bottom of their website, which you can access by clicking here.

However, you can check MyEaAcademy, the creators of Promax Gold EA, on Trustpilot. You can see that some reviews mention this robot and give positive feedback about it.

Conclusion

In conclusion, Promax Gold EA is a fully automated EA that trades XAU/USD. They have excellent results with average drawdowns. The feedback about Promax Gold EA is very positive, and Myfxbook also verifies it.

Promax Gold EA has an innovative grid trading system that starts when it goes into drawdown, intending to close the trades in breakeven without losses. With that being said, you should understand the innovative grid trading system to recognize the risks that come with it.

The only flaw that Promax Gold EA has is the fact that it is relatively new and that it only has backtesting data for a few recent months, not a more extended period to gain historical data about its performance.

The post Robot Review: Promax Gold EA appeared first on Forex Prop Reviews.

Happy Gold breakdown

1. Development

Happy Gold has been in development since October 2018.

2. Packages & Prices

You can get access to Happy Gold by buying a bundle called 10 Happy Forex robots.

You can opt to choose from the following packages:

• EA’s Happy Forex full pack (10x EA’s) which provides you with the following: 2 live accounts, unlimited demo accounts, complete setup tutorial, 24/7 support, free lifetime updates, 30-day money-back guarantee, no expiry, no broker limitation, no computer restrictions, bonus happy indicators PRO, bonus happy gold MT5 version for a price of €209,30
• EA’s Happy Forex full pack (10x EA’s) which provides you with the following: 5 live accounts, unlimited demo accounts, complete setup tutorial, 24/7 support, free lifetime updates, 30-day money-back guarantee, no expiry, no broker limitation, no computer restrictions, bonus happy indicators PRO, bonus happy gold MT5 version for a price of €349,30

3. Pairs

With Happy Gold, you can trade XAU/USD on the M30 timeframe while M15, H1, H4 can also be set up.

4. Timeframes

Happy Gold runs and executes trades on the M30 timeframe while M15, H1, and H4 can also be set up.

Trading strategy

Happy Gold is a fully automated trend-based trading system, which trades XAU/USD on the M30 timeframe. It uses a popular zigzag indicator for technical analysis that helps identify support and resistance zones and potential breakout levels. It also has a limit of one open trade at a time which has a set stop loss. The take profit is set as well, but it is dynamic, changing depending on the market conditions.

Happy Gold will analyze the charts for potential trading signals and manage trades on behalf of the user. The settings, on the other hand, are set on default, but you are able to customize them yourself to your preference. While running Happy Gold, you should run it on an ECN broker that has tight spreads, low commissions, and fast execution speeds.

Happy Gold backtesting

Happy Gold backtesting was tested on 99.9% modeling quality in the MetaTrader 4 strategy tester during its development. The only unclear thing is that we are not certain if spreads, swaps, commissions, and slippage were included in backtesting.

Happy Gold live results

It is essential to keep in mind that any results shown by Happy Gold are based on historical data, which doesn’t guarantee how the robot will perform in the future. You should consider the risks while being involved with trading online.

Clients comments about Happy Gold

Happy Gold has no client comments on Trustpilot and Sitejabber.

However, you can check Happy Forex, the creators of Happy Gold, on Trustpilot. You can see that they have positive feedback about the EA’s that they offer with a score of 4.6/5 from their reviews.

Conclusion

In conclusion, Happy Gold is a fully automated EA that trades XAU/USD. They have incredible results with low drawdowns, which is always a positive feature. The feedback about Happy Gold is very positive, and it’s also verified by Myfxbook.

Happy Gold trades based on a popular zigzag indicator for technical analysis that helps identify support and resistance zones and potential breakout levels. It also has a limit of one open trade at a time which has a set stop loss. Happy Gold is one of the best Happy Forex robots if not the best based on historical results.

It has also been backtesed on 99.9% modelling quality in the MetaTrader 4 strategy tester during its development. However, we are not sure if spreads, swaps, commissions, and slippage were included in backtesting.

The post Robot Review: Happy Gold appeared first on Forex Prop Reviews.

DynaScalp breakdown

1. Development

DynaScalp has been developing since June 2020.

2. Packages & Prices

You can opt to choose from the following packages:

• One year membership, which provides you with the following: DynaScalp software, best settings, free updates, super customer support, best recommendations, 30-day money-back guarantee for a price of $247
• Lifetime membership, which provides you with the following: DynaScalp software, best settings, free updates, super customer support, best recommendations, 30-day money-back guarantee for a price of $397

3. Pairs

4. Timeframes

DynaScalp runs and executes trades on the M15 timeframe.

Trading strategy

DynaScalp is a fully automated scalping robot that doesn’t support grid and martingale trading strategies. It is accessible to all forex traders, even the inexperienced ones, because of the step-by-step setup instructions to set the robot up on your MetaTrader 4.

ECN brokers are suggested since they include tighter spreads, competitive commission fees, and reliable trade execution speeds without dealer desk intervention. These factors are even more critical because DynaScalp is a scalping robot, meaning that it enters and exits positions in shorter timeframes.

We require the best possible bid/ask prices available for scalping, which ECN brokers can provide for us. They accomplish this by matching the best prices available in the liquidity pool when a trader wants to enter a position. You should also factor in market volatility and trading hours, which play a significant role when looking at execution speeds.

DynaScalp backtesting

DynaScalp has been backtested on multiple currency pairs adding diversity to the trading portfolio. The historical data of 10 years shows that it can perform well trading numerous currency pairs.

However, backtesting doesn’t include commissions, slippage, and spreads, significantly impacting scalping systems. That being said, you should probably start by testing the robot on a demo account, and when satisfied with the results, change it to a real account.

Despite the lack of backtesting information, you can still find real, verified trading accounts running DynaScalp software.

You can download the backtesting data for all currency pairs below by clicking here.

DynaScalp live results

It is essential to keep in mind that any results shown by DynaScalp are based on historical data, which doesn’t guarantee how the robot will perform in the future. You should consider the risks while being involved with trading online.

Clients comments about DynaScalp

DynaScalp has no client comments on Trustpilot and Sitejabber.

However, you can check LeapFX, the creators of DynaScalp, on Trustpilot. You can see that some reviews mention this robot and give positive feedback about it.

Conclusion

In conclusion, DynaScalp is a fully automated scalping EA with relatively low drawdowns compared to other robots. It supports 15 different currency pairs with backtesting on all of them over the last 10 years. On the medium risk account, the highest drawdown it hit was 17.31%, while on the low-risk account, it was only 7.27%.

Since DynaScalp is a scalping system that relies on shorter trades looking to grab just a few pips, meaning that it will require excellent broker conditions. Preferably we need tight spreads, competitive commissions, and low slippage.

With the lack of backtesting information, I would recommend running DynaScalp on a demo account first to test its strategy and see how it performs compared to their Myfxbook accounts.

The post Robot Review: DynaScalp appeared first on Forex Prop Reviews.

Trade Explorer breakdown

1. Development

Trade Explorer has been developing for over four years.

2. Prices & Packages

You can opt to choose from the following packages:

• One year membership, which provides you with the following: Trade Explorer software, automatic best settings, free updates for life, support for 27 currency pairs, superb customer support, best recommendations, 30-day money-back guarantee for a price of $397
• Lifetime membership, which provides you with the following: Trade Explorer software, automatic best settings, free updates for life, support for 27 currency pairs, superb customer support, best recommendations, 30-day money-back guarantee for a price of $697

3. Pairs

4. Timeframes

Trade Explorer runs and executes trades on M5 timeframe.

Trading strategy

Trade Explorer is a robot that doesn’t support scalping, martingale, hedging, or non-latency trading, which works on all forex brokers. If you are using all 27 currency pairs, it is recommended to deposit from $3,000 to $5,000. If you lack the capital, you can use a micro account.

Trade Explorer focuses on monitoring market trends and price actions for 27 currency pairs with a goal to ignore sharp movements in the market. It uses advanced dynamic trading management to try and adjust to the ongoing market conditions.

There is no explanation of their trading strategy or why and how they work with the 27 currency pairs. You can only find the results on Myfxbook for each of their accounts.

Trade Explorer backtesting

There are no backtests found for Trade Explorer for us to see how it has historically performed on each of the 27 currency pairs. It would be great for anyone choosing an EA to have the information of the statistics and the activity throughout various market conditions for a more extended time period.

However, you can find real, verified trading accounts running Trade Explorer software despite the lack of backtesting information.

Trade Explorer live results

It is essential to keep in mind that any results shown by Trade Explorer are based on historical data, which doesn’t guarantee how the robot will perform in the future. You should consider the risks while being involved with trading online.

Clients comments about Trade Explorer

Trade Explorer has no client comments on Trustpilot and Sitejabber.

You can find some clients’ comments on their website, which you can access by clicking here.

However, you can check LeapFX, the creators of Trade Explorer, on Trustpilot. You can see that some reviews mention this robot and give positive feedback about it.

Conclusion

In conclusion, Trade Explorer is a fully automated EA that can hit more significant drawdowns at times, meaning that it can be a greater risk but potentially more rewarding. The feedback on their website is very positive, and it’s also verified by Myfxbook.

Trade Explorers provides impressive results, but they don’t give any information about the trading strategies they use on the 27 currency pairs. It is still one of the better LeapFX forex robots, primarily because of the more acceptable drawdowns compared to some other forex robots that they are offering.
With the lack of backtesting information, I would recommend running Trade Explorer on a demo account first to test its strategy and see how it performs compared to their Myfxbook accounts.

The post Robot Review: Trade Explorer appeared first on Forex Prop Reviews.

Forex Gump’s developers applied several cutting-edge trading indicators while also testing the software before the actual launch in the market for the best possible results.

Forex Gump breakdown

1. Development

Forex Gump has been in development for more than a year and a half.

2. Packages & Prices

You can opt to choose from the following packages:

• Standard, which provides you with the following: 1 live account, 1 demo account, free 24/7 support, free updates, 30-day money-back guarantee for a price of €199
• Premium, which provides you with the following: 3 live accounts, unlimited demo accounts, free 24/7 support, free updates, 30-day money-back guarantee for a price of €399

3. Pairs

4. Timeframes

Forex Gump runs and executes trades on the H4 and M1 timeframe.

Trading strategy

Forex Gump runs on nine currency pairs on the M1 and 25 currency pairs on the H4. Depending on how much risk you want to involve, you can choose which pairs you want it to trade. You can opt for major currency pairs with lower spreads and less slippage or minor currency pairs that have higher spreads with more slippage.

Since Forex Gump has an option to trade the M1 timeframe, you should consider using a good ECN forex broker to ensure yourself the best trading conditions.

Forex Gump decides to opt for trades based on a combination of his features, which are trend filters, price action, and a news filter. You can also choose from low, medium, or high-risk modes depending on your trading preference.

Forex Gump backtesting

For Forex Gump, there are a 1,058 days history closed backtest account. You can see account growth, cumulative profit, and banked return $ per day statistics below:

Forex Gump live results

It is essential to keep in mind that any results shown by Forex Gump are based on historical data, which doesn’t guarantee how the robot will perform in the future. You should consider the risks while being involved with trading online.

Clients comments about Forex Gump

Forex Gump has limited information from its clients.

You can only find one review about Forex Gump on Trustpilot.

Conclusion

In conclusion, Forex Gump is a fully automated EA that can hit more significant drawdowns at times, meaning that it can be a greater risk but potentially more rewarding.

Forex Gump’s M1 timeframe trading should be primarily used with a broker with tight spreads with fewer chances of slippage. While working with this timeframe, you should proceed with caution and set a risk to reward ratio accordingly.
While there are better and more established robots out there, the purchase of Forex Gump also includes instructions, support, and a money-back guarantee.

The post Robot Review: Forex Gump appeared first on Forex Prop Reviews.

Forex Fury requires a desktop version of the MetaTrader 4 platform to run successfully. You cannot run it on the MT4 app or the web-based MT4 platform. You are required to have your MetaTrader 4 running during trading hours for it to work.

Forex Fury breakdown

1. Development

Forex Fury is already five years in development.

2. Packages & Prices

You can opt to choose from the following packages:

• Gold, which provides you with the following: 1 live account license, unlimited demo accounts, free updates, high-performance settings, lifetime membership for a price of $229
• Diamond, which provides you with the following: 2 live account licenses, unlimited demo accounts, free updates, high-performance settings, lifetime membership for a price of $439

3. Pairs

4. Timeframes

Forex Fury runs and executes trades on the M15 timeframe.

Trading strategy

Forex Fury is a scalping trading system that trades around 0-7 times per day, depending on market conditions. It trades one hour per day with one pair to help ensure avoiding volatility. Trading hours are from 4 PM – 5 PM EST.

1. Range filter

The range filter trading strategy is a solid addition to the software. Forex Fury’s history shows that it performs best in ranging market conditions, so by using the ADX indicator, the potential of trading in trending market conditions was drastically lowered. A vast majority of traders have been successfully using this trading strategy manually, but now this automates the entire process.

The image above shows how the ADX indicator has the ability to determine ranging market conditions, making it perfect for picking up fast winning trades with scalping. This strategy will attempt to filter out all trades during trending markets, which means that the frequency of trades will be lowered.

2. One set of trades per day

One set of trades per day is a trading strategy that stops the robot from trading multiple times in the same period. A problem of opening a second set of trades immediately after closing the first was found by some of their clients in an attempt to gain extra wins. The success rate of the second set of trades was found to be significantly lower. To prevent the problem from continuously occurring, one set of trades per day trading strategy forces the robot to avoid taking additional risks.

3. Reverse strategy

The reverse trading strategy was included in Forex Fury for traders that prefer optimizing profitable short positions.

4. Dynamic retrace

Dynamic retrace trading strategy is used as a new stop loss. Individuals that aren’t satisfied with regular stop losses or trailing stop losses now have a unique solution. It works by using take profit modifications deep in trades in order to avoid losing more capital than recommended with intelligent risk management.

5. Martingale

Martingale trading strategy is used to recover lost trades faster by increasing the size of trades after a loss occurs. This can be an advantageous strategy with the high win percentage that Forex Fury provides. If you are not a fan of this trading strategy, you always have an option to disable it manually.

6. Long and shorts only

You can exclusively trade only short and long positions by using Forex Fury. It is not a requirement since it can be enabled and disabled by a user manually when decided.

A new version of Forex Fury is also in the making. It will provide the following:

• Market updates
• News filter
• Trend filter
• Hard Stop-loss/Take profit (not hidden)

Forex Fury backtesting

For Forex Fury, there are backtests running over 15 years of historical data on their website, but unfortunately, not all statistics are shown. You cannot see statistics like drawdown, profit factor, the win rate, for example.

Modelling quality and spreads can also not be verified, so there is no information if commissions, swaps, and slippage were included in the backtests. These are all vital statistics to consider when reviewing a backtest within the MetaTrader 4 strategy tester since they must be done in the best possible conditions.

Forex Fury live results

It is essential to keep in mind that any results shown by Forex Fury are based on historical data, which doesn’t guarantee how the robot will perform in the future. You should consider the risks while being involved with trading online.

Clients comments about Forex Fury

Forex Fury has excellent feedback from its reviews.

On Trustpilot, they have a large variety of their community giving positive feedback with an excellent score of 4.4/5 out of 175 reviews.

Most of Forex Fury’s community mentioned how it is very effective and successful if you put the time in and set it up properly.

On Sitejabber, you can also find many positive reviews about Forex Fury with an excellent score of 4.61/5 from 90 reviews.

Many comments from clients are positive primarily because of the consistency Forex Fury provides in the one hour per day that it trades.

Conclusion

In conclusion, Forex Fury is an EA that can hit more significant drawdowns at times, meaning that it can be a greater risk but potentially more rewarding. Despite all of that, their team is considering the comments from their clients and is working on developing better risk to reward ratios.

You receive full detailed instructions, support, free updates, and a money-back guarantee when purchasing Forex Fury. You can also find comments on Trustpilot and Sitejabber, where you can see a more in-depth discussion from their community. You also have a chance to reach out to the developer if you desire an answer to any specific questions since they state that they will do everything in their power to ensure their clients’ happiness.

Forex Fury is a consistent EA that is still improving, with the main problems being huge drawdowns and backtesting data lacking quality.

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