Forex Falcor trades 24 hours a day using leading indicators on multiple currency pairs. The algorithm sets up quickly and holds trades for a few hours. It is developed by Forex Robot Trader, a company that presents multiple systems. Let us go through the Falcor expert advisor to see if it is profitable to use.
Features
The robot has the following features:
- It can trade on multiple currency pairs.
- A new code has innovated the system for 2021.
- The algorithm adapts to your account size.
- Traders can use the robot to trade like a professional immediately.
Strategy
As mentioned before, the EA works on multiple currency pairs and holds trades for a few hours. According to the developer, the robot takes many trades each month and uses price action for trading the markets. From the charts that are shared on the website, we can see that it uses support and resistance levels to take trades.
The trading history on the detailed statement at the live records shows that some traders do not come with a stop loss and take profit. It can use a virtual exit point in some cases.
How to start trading with Forex Falcor?
The robot can work within a few minutes if you follow the steps detailed below:
- Download the robot from your email id after making a purchase.
- Place it within the experts’ directory of the MetaTrader platform to start trading.
Some other essential information traders should keep in mind are:
- There is no statement on the leverage, or minimum deposit traders should use.
- The asking price is $79, and there is no money-back guarantee.
- There are no renting options available to traders.
Backtests
Backtesting results are not available for the product, which leads us to believe that it might have failed during the procedure. Not only does it raise concerns about the reputation of the company, but it gives a bad vibe for making a purchase.
Verified trading results of Forex Falcor
Trading records are available in the form of a detailed statement that shows performance for a specific month. The system made an average monthly gain of $85521.50 during the period, with a drawdown of $455. It is quite intriguing to note that the drawdown percentage was zero.
The winning rate stood at 83.59%, with a profit factor of 7.94. The best trade was $1000, while the worst was -$424 in a total of 786 trades. The current balance of the system hangs at $13899792.2 with the floating P/L of -$1622.1.
Vendor transparency
Forex Robot Trader is the producer of the system. They are not transparent on their trading records and do not present their portfolio to traders. If the vendor is a good service provider, they should maintain good transparency with traders to build trust.
Is Forex Falcor a viable option?
There are no satisfactory live and backtesting records of the product, which makes Forex Falcor a good option for traders. We conclude that it is a poor product.
There are 270 reviews at Forex Peace Army, which gives the company a 2.262 rating. A trader has tested one of their systems and states that it is a scam. He says that the company is not providing good details about the product and is not responding to emails.
Advantages
- Good for price action traders
Disadvantage
- Not much transparency on strategy
- No backtesting records
- No live tracking
Conclusion
The company has poor reviews present on Forex Peace Army. Moreover, Forex Falcor does not use verified third-party websites such as Myfxbook or FXBlue for tracking their records.
