ForexEzy
No Result
View All Result
  • Home
  • Getting Started with Forex
  • Forex Education
    • Forex Basics
    • Forex Trading Strategies
    • Money Management
    • Risk Management
    • Technical Analysis
    • Fundamental Analysis
    • Trading Psychology
    • Social Trading
    • Automated Trading
  • Forex Tools
    • Forex Robots
    • Forex Indicators
    • Forex Signals
  • Top Forex Brokers
  • Top Forex Robots
  • Commentary
  • Blog
  • Home
  • Getting Started with Forex
  • Forex Education
    • Forex Basics
    • Forex Trading Strategies
    • Money Management
    • Risk Management
    • Technical Analysis
    • Fundamental Analysis
    • Trading Psychology
    • Social Trading
    • Automated Trading
  • Forex Tools
    • Forex Robots
    • Forex Indicators
    • Forex Signals
  • Top Forex Brokers
  • Top Forex Robots
  • Commentary
  • Blog
No Result
View All Result
ForexEzy
No Result
View All Result
Home Forex Tools Forex Robots

EFC Indicator Review

by Tim Baudin
November 19, 2020
in Forex Robots
0
EFC Indicator
0
SHARES
11
VIEWS
Share on FacebookShare on Twitter

Automated trading systems in Forex aim at making the task of traders easy, quick, and efficient. Among the various systems available now, EFC Indicator from Trading Strategy Guides claims to provide an easy reversal trade identification.

Working on any timeframe, this system assures accurate entries and stop-loss features resulting in appreciable profits. Is this indicator system a reliable one? Read this EFC Indicator review to know about this trading tool and our recommendation.

Table of Contents

  • Is EFC Indicator Perfect For Trading? 
  • How to Start Trading With EFC Indicator
  • EFC Indicator Backtests
  • Trading Results
  • EFC Indicator Scanner and Dashboard
  • People Feedback
  • Conclusion 

Is EFC Indicator Perfect For Trading? 

Compatible with the MT4, Ninja Trader 7, and Ninja Trader 8 platforms, EFC Indicator is capable of providing revenue of more than $1,000 per week. Set up to work for experienced as well as beginner traders, the system operates at a risk to reward ratio of 1:3.

This will result in profitable trades even if you win just 33% of them. Important features include specific analysis based on the time frame, automatic filtering of bad trades, use of appropriate stop-loss, exit and entries, and 50 candle arrangement for any specific time frame.

The system has a scanner that can search EFC trade setups for 30 currency pairs. We could not find any information on the developer except that it is part of the Trading Strategy Guides website. This website has several trading products and guides for helping traders.

There is no separate customer support mail for this system other than the general Trading Strategy Guides mail contact. The lack of vendor transparency makes it difficult to assess the system’s reliability and efficacy. And, as far as the strategy used here, the system works on multiple pairs and any time frame, which is not how Forex robot systems work.

The specificity of the automated Forex trading systems helps to eliminate the unwanted time frames and ineffective pairs. However, with this strategy, you need to have your research ready on the appropriate pairs and time frames you need to use. 

How to Start Trading With EFC Indicator

Priced at $99, the product also comes with additional rewards, such as free support and a special EFC access pass to the strategy used. However, support should be part of the system as is the case with most Forex robots. The fact that this is given as a bonus is just a marketing gimmick used by the vendor. Furthermore, the vendor provides a money-back guarantee of 30 days from the date of purchase. 

EFC Indicator is ideal for scalpers, day traders, and swing traders with its simplified set-ups, and easy to understand and read charts. The working method is based on capitalizing on reversal trades with the indicator helping to identify the trades quickly. A sum of nearly 210 possible setups on reversal trades can be done on a single dashboard. 

EFC Indicator Backtests

Although the official website indicates the presence of backtest and proven success rate indicator, we could not find any backtests on the site. Other than a few screenshots revealing how the system works, there is no other information to corroborate the vendor’s claim. This lack of information is a red flag denoting the vendor is not transparent about the performance of the system.

EFC Indicator Backtests
EFC Indicator Backtests

Trading Results

Verified results of the trading done using this system will help in understanding the strategy used and its effectiveness. Unfortunately, we could not find any trading results for this system. This is another red flag that makes us doubt the efficacy and authenticity of the system.

EFC Indicator Scanner and Dashboard

EFC Indicator Scanner and Dashboard

The scanner tool along with the dashboard feature is offered free with the EFC Indicator.  While the scanner provides push notifications and alerts with a quick set up feature, the dashboard allows over 210 active trades under a single window.

A total of 30 currency pairs using 7 different types of time frames can be scanned by the scanner. According to the developer, the scanner can analyze all the pairs instantly compared to doing them manually. Since there are no results available for testing this system, we could not assess how effective these features are in real-time.

People Feedback

We were unable to access customer feedback on this indicator system. However, we found a few on the Trustpilot site for Trading Strategy Guides, which apply to this trading tool too. As you can see from the screenshots below, the customer support is bad. 

EFC Indicator People Feedback
EFC Indicator People Feedback

Conclusion 

Advantages

  • Price is affordable
  • 60-day money-back guarantee

Disadvantages 

  • The vendor does not provide verified trading results
  • Strategy used is not explained clearly
  • Poor support

Summary

Wrapping up our EFC Indicator review, it is clear that the trading tool has several downsides. Some of the major weaknesses include the absence of verified results including backtests and live trading results. Furthermore, we could not find information on the vendor and the support provided.

Inadequate strategy explanation is another major shortcoming to note with this system. Even if there are several screenshots on the official site explaining the entries and exits used, they are not sufficient to evaluate the effectiveness of this indicator. With so many drawbacks, we do not recommend this indicator.

The Best Forex Robots Report Is Already Here!
Check out 30+ best expert advisors with daily updated live results and statistics.
ShareTweet
Previous Post

Swing VIP EA Review

Next Post

Do You Expect to Win When You Trade?

Related Posts

StrategyQuant X

StrategyQuant X Review

by Adam Stanley
February 10, 2021
0

The StrategyQuant X site is a platform that focuses on helping developers to well-design their EA, testing them under various...

FX LUCKY PRO

FX LUCKY PRO Review

by Tim Baudin
February 9, 2021
0

This Forex robot review is dedicated to a newly launched robot called FX LUCKY PRO. According to its developer, the...

Gold Miner

Gold Miner Review

by Chintan Patel
February 8, 2021
0

Gold Miner is a trading robot that was designed by Nguyen in December 2020. Without updates, the version was set...

AutoArb

AutoArb Review

by Chintan Patel
January 30, 2021
0

Automated systems are all the rage in the Forex market today as they place trades on their own, saving you...

Sweet Profit Robot

Sweet Profit Robot Review

by Chintan Patel
January 28, 2021
0

Today in this Sweet Profit Robot review, we are going to analyze a Forex expert advisor, which is advertised as...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Best Forex EA

  • ROFX 9/10
  • Forex Fury 8/10
  • FXgoodway 7.5/10
  • Z Trader FX EA 7/10
  • Forex Incontrol Reborn 6.5/10

Popular News

  • The Best RSI and CCI Combination Trading Strategy for Optimum Returns

    The Best RSI and CCI Combination Trading Strategy for Optimum Returns

    2 shares
    Share 2 Tweet 0
  • Rofx Review – High Profitability and Stable Performance Analysis

    29 shares
    Share 29 Tweet 0
  • The Best Forex Scalping Strategy – Using 3 Popular Technical Indicators

    0 shares
    Share 0 Tweet 0
  • The Best MT4 Indicators & Expert Advisors For Forex Trading

    2 shares
    Share 2 Tweet 0
  • How to check if the indicator is repainting?

    2 shares
    Share 2 Tweet 0

Trading

Footer

We are dedicated to demystify the world of forex trading for you – no matter what level you are on.

Categories
  • Automated Trading
  • Day Trading
  • Forex Basics
  • Forex Brokers
  • Forex Education
  • Forex Forecasts
  • Forex Indicators
  • Forex Market Commentary
  • Forex Robots
  • Forex Signals
  • Forex Tools
  • Forex Trading Strategies
  • Fundamental Analysis
  • Money Management
  • News
  • Risk Management
  • Social Trading
  • Technical Analysis
  • Top World Traders
  • Trading Psychology
  • Uncategorized
Tags
arbitrage atr bollinger bands cci chart patterns classics copy trading courses day trading forex brokers forex charts forex ea forex education forex forecasting Forex Indicators forex software reviews grid trading hedging ichimoku macd market cycles news trading oscillators price action trading rsi social trading strategies tips & tricks trading bots trading platforms trend trading Video
  • Terms of Use
  • Privacy Policy
  • Compensation Disclosure
  • Risk Disclosure
  • About Us
  • Contact Us

Copyright © 2020 by ForexEzy.com

No Result
View All Result
  • Home
  • Getting Started with Forex
  • Forex Education
    • Forex Basics
    • Forex Trading Strategies
    • Money Management
    • Risk Management
    • Technical Analysis
    • Fundamental Analysis
    • Trading Psychology
    • Social Trading
    • Automated Trading
  • Forex Tools
    • Forex Robots
    • Forex Indicators
    • Forex Signals
  • Top Forex Brokers
  • Top Forex Robots
  • Commentary
  • Blog

© 2020, Forexezy.