Extreme Forex is a fully-automated robot that trades on the MT4 platform using a virtual private server, while operations on MT5 require vendor-hosting. The system uses a volume scalping strategy that uses advanced entry and exit software with filtering techniques to determine profitable entry points. Read our detailed review of this EA to make a better purchase decision.
Extreme Forex overview
The following are the main features of this bot:
- It is 100% fully-automated.
- There is a 14-day moneyback guarantee.
- Provides email support.
- Includes an auto GMT detection feature.
The recommended timeframe for efficient results is M5 on the XAUUSD currency pair. The vendors write that the bot is immune to spread, slippage, or other broker-related factors. This is due to the fact that the system is using averaging strategies which do not require a tight stop loss etc.
The robot is sold in two packages i.e. Power and Super Power. Power comes at 99 USD per month, asking for a 50 USD deposit. The maximum drawdown is promised at 27%.
On the other hand, Super Power is a profit-sharing-based option sold at 25% gain split. It demands a huge deposit of 1000 USD.
These packages come with email support, automated trading, and VPS features. The vendor also provides a 14-day money-back guarantee. However, information about the modes of payment seems absent. A recurring monthly fee and the profit-sharing percentage are quite high here when we compare it with other systems in the marketplace.
How it works
The algorithm will analyze the markets based on the coded data. To install the EA, traders only have to place it within the experts’ folder and attach it to the designated charts.
The company claims that the item does not use harmful grid or hedging trading strategies. With no further information on the topic, we head over to the Myfxbook records, where we observe the use of averaging. The developer is lying in terms of the strategical approach. The algorithm is primarily active on Wednesdays.
The company has not shared backtesting results for inspection. These numbers are significant to gauge the historical performance of the robot in all sorts of accounts under different market conditions. Without them, it is hard to arrive at a solid conclusion regarding EA performance.
The seller has shared verified Myfxbook trade results of the bot. These correspond to the trade executed on the MT4 platform with a leverage of 1:400 on the Real (USCCent). These stats cover the performance from Jun 01, 2022, till Jun 06, 2022, which is an extremely short period. The monthly growth rate is 11.23%, with a drawdown value of 4.37%. Deposits are written as 5000 USD, with profit marked as 561 USC.
The algorithm made 51 trades, of which 35 resulted in a loss. The profit factor shown in these results was 2.10, with an average trade length of 1 hour and a half.
We could not locate past customer feedback about this EA on third-party websites like Forex Peace Army and Trust Pilot. These domains serve as an authentic input source based on ex-users of Forex products that help with decision-making. However, the lack of reviews for this algorithm reduces its trustworthiness.