Forex Fury is an expert advisor that promises a winning rate of 93% with its automated trading. The vendor boasts of verified performance and promises steady growth with the FX robot. It uses a safe and at the same time aggressive approach to ensure successful returns, as per the vendor. An effective money management focusing on sustainable growth, use of different risk level strategies, and proven SET files are some of the features that the vendor highlights for this EA.
Forex Fury trading strategy
Alt: Trading approach of Forex Fury.
As per the vendor, a range-based approach is used to counter the low volatility situation. Filters in the FX EA ensure the trades end in high returns and minimal loss. The vendor claims that time restriction is part of the strategy that helps to limit the losses. Trading is done only when there is no volatility wherein an advanced scalping method ensures easy profits. To enable this the EA trades one to two hours per day.
Forex Fury backtesting report
A 15-year backtest is present for this FX EA on the official site as shown above. The profits gained and the drawdown are shown. But there is no detailed strategy tester report present. The lack of info on the backtest prevents us from analyzing the trading stats and knowing about the efficacy of the strategy. We are suspicious of the insufficient information as it indicates the unreliability of the system.
Forex Fury live results
A few demo results and live trading results verified by the myfxbook site are present on the official site. Here is a live real USD account of the EA working on the GBPUSD pair.
From the trading stats, we can see the total profit is 85.12% and the absolute profit is 72.39%. A daily and monthly profit of 0.04% and 1.27% are present for the account. The drawdown is 41.90%. For deposits of $30,000, the profit is $21715.80.
From the advanced stats, we can see the total number of trades executed is 419 with 100% profitability and a profit factor value of 897.24. The trading history reveals lot sizes of 1.00 and 0.10 used for the trades. From the high drawdown, it is clear that the system uses a high-risk approach despite the account being a low-risk one. Further, the high profitability values look suspicious.
Some features of Forex Fury
Important features of this FX EA the vendor focuses on are compatibility with MT4, FIFO, NFA, and MT5 and ECN support. The ATS works on any currency pair, crypto, and indices. It uses multiple filters to avoid bad market events. As per the vendor, the EA can work with any brokerage that supports MT4 and MT5 platforms. There is no info present for the recommended deposit, timeframe, leverage, etc.
|Average monthly gain||1.27%|
|Price||$229.99 – $439.99|
|Lot size||not less than 1000 units per 0.1 of a standard lot|
|Min.deposit||$100 on a micro account|
Main things that make Forex Fury an unreliable EA
Here are a few key factors that make this ATS unreliable:
1) High drawdown
The live trading results reveal a drawdown of 41.90% which is very high for an account that is using the low-risk approach. Further, the trading stats look suspicious with 100% profitability for 419 trades which we consider is an impossible feat.
2) Lack of vendor transparency
While the vendor provides the names of the developer team and the founding year info, there is no info related to the location and phone number for support. The expertise and experience of the team members are not provided. The inadequate info raises suspicion on the reliability of this EA.
A gold package costing $229.99 and a diamond package costing $439.99 are present for this EA. While the gold package offers a single live account, the diamond package offers two accounts. Other features like free updates, settings for high performance, unlimited demo accounts, and lifetime membership are similar to the two packages. We find the price is expensive and not worth it considering the risky approach and suspicious-looking results. No money-back assurance is given by the vendor.
We found 141 reviews for this FX EA on the Forexpeacearmy site with a rating of 2.785/5. Here is a user review:
As per the feedback, the EA is not consistent and the results shown by the company do not reflect in real trading. Furthermore, we found the company had fake and suspicious positive reviews submitted on the site. This corroborates our suspicions about the reliability of the EA.