Forex Robots

GerFX Review: A Low-Risk Trading EA

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GerFX

GerFX is an expert advisor that comes with a hefty price tag. The vendor expects traders interested in it to part with $2000. The system supports many currency pairs and mainly trades on the M5 chart. The vendor recommends you turn the EA off during days of important events such as general elections in Europe, the UK, or the US to minimize losses.

Paul Exler is the developer of this trading tool. He is a CEO at Exler Consulting and works with a team composed of German traders who have been trading Forex for over a decade. Together, they have created other tools like GerFX Forex Cyborg, GerFX DeltaWave EA, GerFX Momentum Capture EA, GerFX EA Protection Filter, and many more.

GerFX strategies and tests

The EA has several features:

  • It applies a stop loss for each position.
  • he EA trades on multiple currency pairs such as EURUSD, GBPUSD, EURCHF, USDCHF, USDCAD, EURCAD, EURAUD, AUDUSD, AUDNZD, AUDCAD, CHFJPY, (experimental: USDJPY, EURJPY, EURGBP, EURNZD, GBPAUD, NZDUSD, NZDCAD).
  • It is advised to let the EA run on a VPS continuously without interrupting it (also Friday evening) to store the historical data.
  • A calendar news filter is present.

This robot usually trades at night using the scalping approach. Being a mean reversion system, GerFX also attempts to take advantage of extreme price changes of different currency pairs. This is based on the assumption that the price will go back to the mean over time. The devs say that they have optimized the system severally to decrease spillage. For instance, the entry logic has been decreased to increase the speed of calculation, while the exit is done through take profit orders. The system doesn’t use martingale or grid approaches.

Backtest data

Backtest data

This is a backtest report for the EURUSD symbol. As you can see in the statement, dukascopy historical data from January 2003 and December 2020 was used. All the 6184 trades were implemented on the M5 chart. A total net profit of $11849.70 and a drawdown rate of 1.09% were made from a deposit of $1000.

The win rates for short trades were 85.42% and 85.08% for long trades, while the profit factor was 2.75. From an average loss trade of -$7.44 and an average profit trade of $3.53, it is apparent that the robot was likely to lose trades than win them.

GerFX live trading account review

Live trading results on Myfxbook

Live trading results on Myfxbook

The EA has been managing this account for about a year now, and to date, it has implemented 465 trades with a deposit of €159.23. A small profit of €46.81 has been generated as a result. The daily and monthly profit rates are 0.07% and 2.29%, respectively. There’s a low drawdown rate of 2.78%, which shows us that the robot doesn’t engage in risky trading activities.

Performance of trades on Myfxbook

Performance of trades on Myfxbook

To date, the system has made 984.4 pips, with an average win of 3.83 pips and an average loss of -3.70 pips. The lots traded are 4.65. This number is small, and it tells us that the robot doesn’t work with big lot sizes. The accuracy rates for long and short positions are 80% and 73%, respectively.

Monthly gains of the system on Myfxbook

Monthly gains of the system on Myfxbook

The EA made consistent profits between January 2021 and April 2021. However, irregular profits were made in the months that followed. In fact, the performance of the account began deteriorating in August, and it hasn’t improved since then.

Pricing

GerFX is very costly. To get a lifetime license, you need to have $2000. The short-term packages aren’t cheap either. To rent the EA for a month or 3 consecutive months, then you are required to pay $140 or $370, respectively. The half-yearly pack is $700, whereas the annual one is $1250.

Pricing details

Pricing details

Is GerFX a good system to rely on?

GerFX makes profits at a slow rate, and this means it can take a long time before it gives the user value for money. Also, any large loss can wipe out any small gains the system has made. The good thing is that the EA works with low risks to the balance.

Customer reviews

GerFX has seven positive customer reviews on MQL5. One of these traders says that the author offers prompt after sales services and is very professional. Another one intimates that the trading system is profitable and generates small losses. The others had not started using the robot when they were writing the reviews.

Customer feedback on MQL5

Customer feedback on MQL5

GerFX

5

GerFX generates a low drawdown, and therefore, it will hardly put your capital at risk of loss. However, the EA’s return rate is low and concerning, given that the vendor has set its price at $2000. We are afraid that it might take you a while before you break even.

  • Low drawdown
  • Positive client reviews
  • Pricey
  • Low rate of profitability
  • No money-back guarantee
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