Forex Gump has a short presentation with almost no explanations provided. It doesn’t look professional. The developers think it’s possible to convince people to buy the robot providing only trading results. So often, this is not true. The developers provide no information about themselves. There are no links on MQL5 profiles or Facebook. It’s a significant con because we wouldn’t like to trust them blindly.
Forex Gump Strategies and Tests
We have grouped up all available information about the robot and its features:
- The robot executes deals automatically.
- It’s a frequently traded expert advisor.
- The system uses a Grid of several orders to be profitable.
- Every deal has unique Take Profit and Stop Loss levels.
- The robot can work with three levels of risks: High, Middle, and Low.
- The expert advisor runs the next charts: GBP/USD, AUD/USD, EUR/JPY, EUR/USD, EUR/CHF, EUR/GBP, USD/CAD, USD/CHF, and USD/JPY.
- It executes orders on the M1 time frame.
- The robot trades 24/7.
- The minimum deposit should be $4000 or higher. It’s so much even for a Grid robot.
- The leverage should be set at 1:100 or higher.
- The developers mentioned that they are not selling the EA through the MQL5 market.
The devs don’t provide us with backtest reports that would help us to compare current trading results with the performance on the past data.
Forex Gump Live Trading Account Review
The system runs a real USD account. The deposit is $39,773 after several depositing actions. The account was created on August 1, 2018. Since then, the balance has become $101,319. The margin in use is $1,965. The Floating Loss is -$31,096. Maring level is 3,724%.
The Total Return is +2,621%. The average monthly gain is +10.1% when the average weekly return is +2.3%. The trading accuracy is 74.0%. The Profit Factor is 1.97. The average trade frequency is fifteen deals a day. The robot is online for 1004 days.
The Risk to the Reward Ratio is 1.57. An average win is +$11.80 when an average loss is -$17.03. An average result is $4.30. The risk of ruin is 1.5%. An average trade length is four days and a half.
The system works with many symbols. GBP/USD is still the most traded symbol, with 3541 deals. The same with have with the most profitable currency pair (GBP/USD) – $17,774
The robot makes profits in both directions equally.
There are several deals closed manually. The rest were traded under a robot’s magic number.
The most-traded days are Thursday (3194), Monday (3094), and Tuesday (3037 deals).
The robot trades during the European session mostly.
The last months are closed with profits.
The developers decrease the number of deals in a Grid from 10 to 3 orders.
The presentation includes two packages with lifetime licenses. For 199 EUR, we can get one live and one demo account license, free 24/7 support, free updates, and a 30-day money-back guarantee. For 399 EUR, we will receive three real account licenses and an unlimited number of demo licenses, and the rest is the same. We can buy them only using SendOwl. We haven’t seen this paid company before.
It looks like our data should be safe. We can buy the robot using Cards or PayPal.
Is Forex Gump a scam?
We don’t think so. Anyway, the Grid strategy is one of the riskiest.
The company runs its own profile on Forex Peace Army. There’s also the real account connected.
As for a robot that makes big profits, there are few comments provided.