The popularity of forex trading for making some quick money is on a high. Alongside this growing popularity, many automated forex trading robots have emerged that facilitate profit-making. Among these robots, some products are simply a scam that traders should steer clear of. Traders thus need to investigate and review forex robots before investigating them.
Forex Fury is a trading robot that has been enjoying the limelight for quite some time now. It will be the subject of this review today.
Forex Fury Detailed Review
The first impression of the Forex Fury sales website stands good with a well-developed, updated and professional appearance. On the homepage, the vendor promises an automated forex robot with 100% verified results and a 93% win-rate. The website provides trading results and links to verified Myfxbook accounts, raising expectations and establishing credibility. Though the developers behind Forex Fury robot are not new to the forex world, the website doesn’t mention any details about them apart from their mission.
Forex Fury Offering
The Forex Fury robot is available at a price of $299 to traders. The one-time investment is a considerable amount for novice traders, with no option of paying from the profits they earn by using the robot. It so appears from the website that the vendor does not extend any money-back guarantee. This is a red flag for skeptical buyers who may not be satisfied with the performance of the robot after purchase. A diamond package that offers 2-lifetime licenses is also available.
Trading Conditions of the Robot
The robot is compatible with the MT4, MT5 Build 600+, FIFO and NFA trading platforms. Traders can use the robot with any MetaTrader4 or MetaTrader5 Broker as per their wish. The robot has been optimized to trade in the EUR/USD, USD/CHF, USD/JPY, USD/CAD, GBP/USD and the XAU/USD currency pairs. While no timeframe has been mentioned on the website, the forex robot conducts multiple trades in a day (about 10). There is no recommendation as for the deposits, but traders need to make a minimum deposit of $100 to trade on a live account. The developers also state that various performance metrics can be identified by the trader, but the setting in context hasn’t been elaborated.
Forex Fury – Trading Strategy
The Forex Fury Trading Robot follows scalping, opening trades an hour every day, during the period when the markets are ranging. The vendor claims to stick to a low-risk strategy that has a drawdown of less than 20%, employing multiple filters to dodge the poor conditions of the market. However, the vendor does not provide any further information about the stop loss, take profit, timeframes and other aspects of the trading strategy. What settings can and cannot be optimized by the trader also remains unanswered. This can prevent certain cautious traders from opting for the robot.
The Forex Fury vendor has been very efficient in sharing testing results – providing results for different currency pairs and sharing live trading results too. All the results presented on the website are linked to verified Myfxbook results, some of which have been going on for long periods of time. The results are impressive and appear to offer a great return on investment. For instance, the robot shows 215 out of 215 successful trades for the EUR/USD pair at the time of writing this review.
Many customers have been all praises about the robot. However, there have been quite some negative reviews about the robot too. While many complained about incompetent support from the Forex Fury team, some were unhappy about the no refunds policy. A few customers even claimed to have difficulty in setting up the robot and about the robot’s failure to place trades that prevent loss.
To come to a conclusion, let us do a run-down of the pros and cons of the robot:
|Availability of verified Myfxbook account||Lack of developer information|
|Verified backtesting and trading results||Insufficient trading strategy information|
|Abundance of negative customer reviews|
However, as the robot is a onetime investment that is non-refundable, traders are advised to take caution and conduct thorough research before investing in it.