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Forex Flex prides itself as an EA that has weathered the markets successfully for nine years. This can’t be said about many EAs with their small bursts of success and then fade away. What have its creators been doing right? We begin Forex Flex EA review, including studying its website, trading techniques, stats, and user reactions.
Table of Contents
What is Forex Flex EA?
This is a verified Forex robot that uses open virtual trades in the background to analyze market trends to determine the optimal time to enter and exit a trade. When virtual trades get to the perfect entry point, the EA will immediately take up trade management.
The robot is compatible with both MT4 and MT5 and supports ten currency pairs. It doesn’t need too many customized parameters, and you can use it immediately after purchase.
You can buy the robot’s software three ways; Flex EA x1 MT4 costs $399.96 and will give you access to 1 live account license for MT4, an infinite number of demo accounts, strategies and set files, and total access to private forums.
Flex EA x1 MT5 goes for the same price and consists of 1 live account license for MT5, unlimited demo accounts. You also get the set files, and access to private forums. Flex EA x2 MT4 and MT5 is a bit more expensive at $594 and consists of 2 licenses for MT4 and five and all the other features of the previous packages. You will also have access to 24/7 customer support for all these packages.
Forex Flex EA Review
The forex robot works in the background to assess the market’s direction and starts setting the indicators for new trades. It’s compatible with NFA and FIFO and contains a news filter that informs it of potential news-worthy events that may affect the market. It was designed to have 12 selectable trading strategies to increase traders’ chances of a good ROI.
Forex Flex can adjust lot sizes in the background as your account balance fluctuates to ensure you don’t lose your investments and that you can reach your profit goals. The EA’s primary trading technique is its use of take profit and stop loss. The EA will close the trades based on set RSis. You can also filter your preferred days to trade and the specific times of the day that you want to avoid.
Stats and Trader Reactions
Although the bot’s website has all the required information, the website looks like it hasn’t had a facelift since its inception. We can forgive this because the creators haven’t been stingy with information, and we feel well informed.
They’ve shared a screenshot of their backtests, with a 99.9% modeling quality; however, we see an upward trend. We cannot see the information that could comprehensively help us analyze the historical data.
We also have access to backtests that show an upward trend in growth and a downward drawdown trend. The stats show a total +732.12% gain, with a 0.5% daily gain, which is quite significant compared to other traders. The drawdown is 13.42%, which is within reasonable levels.
There’s a lot of positive user reviews, and we like what we see.
Final Thoughts
We have provided all the information necessary to make the right decision, the EA meets all the required criteria, and we recommend that you try it out.