Catering to traders who are looking for advanced tech-based systems, Forex Flex EA focuses on virtual trades that allow it to work on multiple trades for monitoring market trends. The technical tools used by the EA ensure it identifies the right entry and exit points. The trading robot boasts of 12 exclusive features, which can be customized to support any type of trade. The MT4 compatible broker also covers money management.
Is It The Right Trend System Robot To Work With?
The EA works on three main strategies namely grid, hedging, and trend strategies. The website reveals the developer introducing the EA, with an experience of 7 years in the market and a success rate of around 90%.
The completely automated EA works with all currency pairs and has a historical return on investment of about 10%. Virtual trades used by this EA are an exclusive concept where you get to trade with minimal risk and good rewards. This is enabled by the consistent adaptation done by the software to market conditions. The software has inbuilt filters for news on market updates.
How to Start Trading With Forex Flex EA
Trading can begin as soon as an account is set up after you choose from the various price packages provided. While the standard with a single account license costs $330, the premium package with 2 live accounts costs $495. The two packages require a single payment upfront.
The EA is then downloaded and to start trading you have to choose from the strategies present, set the risk level, and leave the rest to the robot.
The name Flex is given as the trader has the flexibility to work with 12 different strategies. The minimum recommended account balance is $100 for the nano account installation, while there is a micro-cent option, which has a minimum value of $.500. The value for standard accounts is $1000.
Forex Flex EA Backtests
The backtesting and live results on the website indicate the modeling to be 99% with tick data.
The account with the longest term on Forex Flex EA is shown below.
The 194.26% gain and low drawdown signify huge profits. The system trades in several pairs simultaneously and the overall loss correlates well with the profit and stop levels. This is however true only when the pips are bigger than the average win. The lot size is high with this EA and the wins shown have the right risk balance. Find below a real account of the EA with 869 trades and a gain of 200%.
Although the system has 12 different strategies, traders get the option to design any strategy they wish. The optimization features present include indicators like TDI, RSI, moving averages, etc. The reverse mode, pip trailing, and other such functions further add to the optimization.
The EA supports US traders and the money management is always on by default. It helps to evaluate lot size from the balance in the trader account. The feature can however be deactivated and the lot size chosen manually by the trader.
The client forum is part of the EA installation, which has updates on the strategies used and client approaches. Traders can discuss strategies and provide advice on the approaches that worked for them.
Customer support is through email only and users have to wait for at least a few business days for their queries and complaints to be addressed. User reviews show that the EA is a high-risk account with the poor performance considering the expensive price paid for the software as shown in the review screenshot below:
- Client forum is very beneficial for traders to know about strategies
- Long account history
- Expensive EA
- Performance does not live up to the claim of the developer
- Customer support is not responsive
Forex Flex EA automated system displays a huge array of features with free updates. The exclusive strategies and optimization options help traders design their unique methods for trading. The live and demo account results on the site show good performance but it may just be a sales lure as the customer reviews suggest otherwise.
The lack of consistency in performance is contrary to the claims of the developer. And, customer support is not that responsive. Further beginner traders can get easily confused with the multiple strategies, indicators, and other tools provided. In short, we do not recommend this EA.