Forex Robots

Forex Fury Review: A Scam EA You Should Avoid

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Forex Fury is an FX robot that promises good investment opportunities to traders in a safe and aggressive way. With trading approaches of different risk levels and the use of multiple filters, this FX EA claims to deliver a 93% winning rate. As per the info on the official site, the developers’ team has been providing its trading services for over 6 years. The main team members include Patrick Ryan, Joe Damien, and Hossein Nouri. Forex Steam is another product from this team.

Forex Fury Strategies and Tests

Robot featuresAs per the vendor info, the software monitors the market situation and places trades when it identifies a favorable situation and closes the trades depending on the settings present. This MT4 tool is compatible with NFA, FIFO, and also MT5 Build 600+.

The vendor claims that the SET files are constantly tested and proven. Aside from all currency pairs, this EA also works on crypto and indices. It has ECN support and the vendor states that the money management used can result in sustainable account growth.

BacktestRegarding the trading approach, this FX EA uses restricting the trading time to minimize the losses. As per the vendor, the trading occurs when the volatility is absent in the market during which the scalping strategy is applied. Backtesting done for 15 years is displayed on the site. However, the link to the test appears to be broken. From the info present, we can see the EA has made considerable gain and the drawdown is low.

Forex Fury Track Record Review

The site provides several verified trading results for this EA. Here is a real USD live account on the MT4 platform using a low-risk approach.

StatsTradesFrom the above screenshots, we can see the total profit is 85.22% and the absolute gain is 72.46%. A drawdown of 41.90% is shown for this account with deposits of $30,000, a withdrawal of $8,000, and a balance amount of 43,737.63. The account started trading in October 2017 and has since then completed 418 trades with a 100% profitability and a profit factor of 9058.35. From the trading history, we can see the lot size used is 1.00. The high drawdown, big lot size, and 100% profitability do not make sense. This disparity in the stats raises our suspicions on the reliability of this EA.

Pricing

Pricing

Two packages, Gold and Diamond are present for this EA. While the Gold package costs $229.99, the Diamond package costs $439.99. Both packages have similar features except for the number of licenses allowed. The features include free updates, settings for high performance, and lifetime membership.

Traders buying this EA can use an unlimited number of demo accounts. No refund offer is present which makes us suspect this is not a trustworthy FX EA. When compared to the average price of an EA in the market, the cost is a bit on the higher side for the gold package and too expensive for the Diamond package.

Is Forex Fury Robot a Scam?

From the user feedback on sites like Forexpeacearmy and Trustpilot, we can see that this is a scam EA. Here are a few of the reviews:

There are a few of the reviews

There are a few of the reviews

There are a few of the reviewsThere are a few of the reviewsFrom the negative responses, it is clear that the results have been manipulated to get 100% profitability. The feedback also indicates that the EA is not profitable and only the accounts posted by the vendor look good. Furthermore, our doubts about this FX robot are confirmed with the spam review and suspicious-looking positive reviews alert put on the FPA site.

Trading Risk

As per the vendor, the EA uses all types of risk levels for its trading approach. The developer team said that the high drawdown is because of their testing the system. But we feel that the approach they use is not proper which is the reason for the high drawdown values and the suspicious-looking results.

Forex Fury Review

5

As an FX robot assuring steady growth and a 93% winning rate, Forex Fury fails to provide positive proof of its efficacy. The scalping approach used by the EA is not an effective one as the trading results indicate a big drawdown. However, what we are concerned about is the disparity in the stats. While the drawdown is high, and big lot sizes are used, the high profits shown look to be manipulated. The positive reviews on the Forexpeacearmy site seem to be manipulated as the site indicates. Furthermore, the negative feedback from users reveals the support is bad and the profits are not as claimed by the vendor. Thus, despite the verified results, we find that this is a scam EA as all our analytic results indicate a poorly performing EA with bad customer support.

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