Expert AdvisorsForex

Forex Combo System Review: Things You Need to Know Before Investing

3 Mins read
5.2

Forex Combo System is an FX Robot that assures 100% long-term returns. As per the vendor, the fully automated system has 10 years of proven FX profits. It uses four autonomous approaches to ensure assured success. This FX EA supports four currency pairs, namely EURUSD, EURAUD, EURCAD, and GBPUSD. The vendor uses a blend of successful approaches for ensuring profits, regardless of the market condition.

Forex Combo System trading strategy

Strategies used by Forex Combo System
Strategies used by Forex Combo System

As per the vendor info, this FX EA uses scalping, trend detection, market corrections, and range detection methods. With the combination of methods, the FX Robot analyses successful market trends, predicts a reversal of trend, and identifies a non-trending market to make successful entries and exits.

Forex Combo System backtesting report

A backtesting report using the combined methods is present on the official site. Here is a screenshot of the test results:

Backtesting report of Forex Combo System
Backtesting report of Forex Combo System

From the above report, we can see the test was done on the EURUSD pair using the M5 timeframe from 2007 up to 2018. For an initial deposit of $5000, the backtest had generated a net profit of 275372.18 for a total of 2684 trades. Profitability was 60.25% and the profit factor was 1.75% for the account. The maximum drawdown was 32.59%. From the high drawdown, it is clear that the EA used a risky approach.

Forex Combo System live results

The vendor provides a demo USD account verified by the Myfxbook site using the IC Markets broker and leverage of 1:500 on the MT4 platform. Here are a couple of screenshots of the trading results:

Growth curve of Forex Combo System
Growth curve of Forex Combo System
Advanced trading stats of Forex Combo System
Advanced trading stats of Forex Combo System

From the above report, we can see a total profit of 48.38% and an absolute return of 64.37%. A daily profit of 0.03% and a monthly return of 0.99% are generated for the account that started trading in 2018. For a deposit of $1000, the EA had completed 394 trades with a profitability of 53% and a profit factor of 1.40. The drawdown for the account is 8.08%. From the trading history, we can see a lot size of 0.03 is used.

From the big lot size, it is clear that the system uses a risky approach. Comparing the demo results with backtesting results, we can see the profitability is higher in the backtests, but the drawdown is lower in the demo. However, since the vendor does not provide real trading results, we cannot assess the efficacy properly.

Some features of Forex Combo System

Some of the features of this FX Robot are:

  • The EA uses a unique logic to the exit levels to avoid premature activation of SL. It allows closing of positions and managing of losses, provided the prevailing trend is favorable. 
  • An effective money management system is used that can be customized depending on the risk profile you set.
  • It does not open positions in volatile markets, thereby protecting your investment from broker slippage.
  • It has ten-year backtests and live trials that ensure stable returns are possible over the long term.
  • It works mainly on the EURUSD and the GBPUSD pairs as per the vendor info.
  • A timeframe of M5, a minimum deposit of $100 to $500, and a recommended capital of $1000 to $5000 are recommended.  
Total return48.38%
Maximal drawdown 8.08%
Average monthly gain 0.99%
DeveloperFxAutomater
Created, yearN/A
Price$147
TypeScalping, trend, countertrend, and range
TimeframeM5
Lot sizeNot less than 1000 units per 0.1 of a standard lot
LeverageN/A
Min. deposit$100-$500
Recommended deposit$1000
Recommended brokersIC Markets
Currency pairsGBPUSD, EURUSD
ECNYes

Main things to consider if you invest with Forex Combo System

Big lot size

The demo results show a big lot size being used, which indicates the approach is very risky. Further, the vendor fails to provide real trading results, which further raises suspicion on the EA.

Zero vendor transparency

The vendor does not provide info on the company FXautomater like its founding year, developer team, location address, phone number, etc.

Pricing details

Pricing of Forex Combo System
Pricing of Forex Combo System

To purchase this FX EA, you need to pay $147. The package includes one real account and an unlimited number of demo accounts, a combined system of four strategies, and a 60-day money-back assurance. When compared to the price of other competitor systems, the price of this ATS is not expensive.

Other notes

We found five reviews for this FX Robot on the FPA site with a rating of 2.042/5. From the feedback, it is clear that the system is not performing well. Here are a few of the reviews:

A user complaining of poor performance of Forex Combo System
A user complaining of poor performance of Forex Combo System
A consumer complaining of Forex Combo System
A consumer complaining of Forex Combo System

Forex Combo System Summary

5.2
From our analysis of the Forex Combo System, we find there is a lack of vendor transparency, a high-risk trading approach, and negative reviews for this ATS. The money-back assurance and verified results are advantages that, however, do not make up for its shortcomings.
6.0

Functionality

3.0

Reliability

5.0

Strategy

8.0

Price

4.0

Trading Results

5.0

Vendor Transparency

Pros

  • +Verified trading results
  • +Refund offer

Cons

  • -Trading results show a risky approach
  • -No real trading results
  • -Lack of vendor transparency
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