Forex Combo System is a Forex EA using 4 independent trading schemes, and it is backed by 10 years of verified gains generated while dealing in currency pairs. As per vendor claims, this system helps you maximize your profits and manage your risks efficiently. It is said to be ideal for new traders because of its relatively safe trading approach.
The presentation on the website is quite elaborate. Apart from the main features, we can also see a couple of live trading accounts showing real-time outcomes. The vendor goes on to explain the different schemes used by the EA and shares some backtesting data for distinct pairs. A large part of the website content is written in marketing language, with the intention of portraying this system as the most efficient one in the market.
Forex Combo System has been developed by the FX Automater team. This company has been building automated systems since 2009 and the developer team has more than 15 years of experience. The headquarters is located in Seychelles, but the identities of the team members are not known.
Features
This robot trades in pairs like EUR/USD, GBP/USD, EUR/CAD, EUR/AUD, etc. It places a trade only when there is an intense market shift, and this allows it to close 80% of its positions in profit. The market is automatically monitored by the EA at all times.
Every trade placed by Forex Combo System is protected by a stop loss. Premature activation of the stop losses is avoided thanks to the robot’s unique trading logic. It has a highly potent money management functionality that is adjusted based on the user’s risk profile.
The trading schemes used by this robot include Scalping, Trend-Detection, Range Detection, and Market Corrections. Scalping involves extracting small profits from a large number of trades, while trend detection assesses the prices in real time to find out trends and present them in a visual format. The robot also captures market corrections in order to predict reversals, while also detecting ranging markets with the help of a powerful algorithm.
How to Start Trading With Forex Combo System
Forex Combo is currently available for $137. This gives you access to a real money account. The vendor has a 60-day no-questions refund policy for this EA. After purchasing the EA, you can easily set it up on your MT4 platform in no time with the help of the installation wizard.
With this robot, you can set a risk level at your convenience and your Return on Investment (ROI) depends on your chosen risk level. It avoids opening positions in unstable markets where the prices fluctuate sharply. This essentially means that the positions opened by Forex Combo System are better protected against broker slippage.
This EA has been backtested for more than 10 years and has been trading live for more than a year. It has thus proved its capability to generate stable profits on a consistent basis.
Backtests
This backtest was conducted from 2007 to 2018 for the EUR/USD pair with a modeling quality of 90%. A total of 2684 trades were placed by the robot during this period, out of which 1617 were won. This means the win rate for this backtest was 60.25%.
One thing we find worrying about this backtest is the high drawdown of 41.41%. Otherwise, the profit factor is quite decent at 1.75. There were 15 maximum consecutive wins and 9 maximum consecutive losses.
Verified Trading Results of Forex Combo System
This live trading account for Forex Combo System has been active since 2nd December 2015. Currently, the net profit generated through this account is $888.73, while the time-weighted return is 251.98%. While the daily and monthly gains of 0.08% and 2.48% are decent enough, the drawdown is again quite high at 47.19%.
Thus, both the backtest and live trading results show a high drawdown, which means that trading with this system carries a significant amount of risk. The profit factor for this account is 1.26, which is a little low compared to the backtest. It has a similar win rate of 60%.
Customer Reviews
We found some customer reviews for the Forex Combo System on FPA. One user has mentioned that 80% of the trades placed by them have ended in losses. It is also claimed that the support team did not respond to their messages.
Is Forex Combo System a Viable Option?
Advantages
- Verified live trading results
- 60-day money-back guarantee
Disadvantages
- Inadequate information available on the vendor
- High drawdown
- Negative customer reviews
Conclusion
We think investing in this Forex robot is a risky proposition since it has such a high drawdown. This essentially means that you can lose a sizable portion of your account if you keep placing trades with this EA. The negative customer reviews are a testament to this fact.
