Successful Forex trading relies on trading skills and your ability to keep updated on the current market settings. With the automated systems available now, the entire trading process is simplified allowing more opportunity for returns. Flex EA is one of the automated systems in Forex dedicated to providing top performance. This expert advisor uses advanced technology for identifying the best trades.
Established in 2014, this system uses multiple strategies and has MT4 and MT5 compatibility. Other than the year of establishment, there is very little info provided about the developer team.
We would like more transparency on the part of the vendor as it is one of the essential criteria we use for our evaluation. Have a look at our best Forex robots list to know about the reliable trading systems.
This Flex EA review provides all the pertinent info you need to know about the Forex robot and its performance. It will help you arrive at an informed decision regarding using it.
Forex Flex EA Overview
As an automated system, Forex Flex EA comes with optimized trade settings, free updates, compatibility with any MT4/MT5 broker, ability to trade any style, and money management features. This system supports all currency pairs and is NFA and FIFO compliant.
After going through the various features, the working method, trading results, and reviews, it is clear that the system relies mostly on the verified trading results for proof of its performance. We could find several real accounts verified on the Myfxbook site and the FXBlue site. Compared to other competitor systems, the features and trading results look more effective.
With a live account having MT4/MT5 compatibility and several demo-accounts this Forex robot offers three different packages. For $330 you can purchase the MT4 or the MT5 compatible version.
If you need MT4 and MT5 compatibility, the cost is higher at $495, which is inclusive of 2 licenses, strategies, and correlated Hedge EA.
All the packages have a 67% off coupon code. At $330, the price looks expensive as a majority of the EAs are available at a lesser price tag. However, the vendor provides a 30-day money-back guarantee.
How It Works
According to the vendor info, this system uses virtual trades for constantly monitoring the market. This helps the system to identify the perfect entries and exits. Constant updates on the settings enable the software to keep up with the existing market trends. With the optimized set files, you can make use of the in-built trade approaches that are set for a strong performance.
This system offers around 12 different trading methods to choose from. Based on the vendor, this system with its virtual trade method can spot the entry points precisely, which is better than using an indicator. Although there is mention of several strategies, there is no explanation on them other than each being unique.
Backtests with 99.9% modeling quality are shown on the site, but the link to the reports appears to be broken. From the results provided a drawdown of 12.71% and gain of more than 19397.87% are revealed.
Trading results verified on the myfxbook site and FXBlue site are displayed prominently on the site. Here is a screenshot of a real live account verified on the myfxbook site.
From the real USD account, a gain percentage of 102.25% and a daily gain of 0.34% are shown. Other important stats include a monthly gain of 10.72% and a drawdown of 16.50%. For the trading account started in July 2020 up to the present, a total of 149 trades have been done at an average trade length of 1 day. The profit factor is 7.47, which is high and indicates an appreciable performance. We could not find out the lot size used as the lot history is hidden.
A screenshot of the FXBlue results is shown below.
From the stats, a monthly return of 41% and a profit factor of 2 are revealed for a trading history of 90 days. A risk to reward ratio of 2.53 is shown. Comparing the backtest results and the trading results the performance looks more or less similar.
We have found some user feedback on the Forex Peace Army site. The screenshot of the reviews are shown below:
From the customer reviews, it is clear that the performance is as effective as claimed by the developer for both live and demo accounts.
According to the info provided on the site, any queries and complaints are addressed directly by the developer of the system. This practice has been in place since its inception which is an effective approach that will be in favor of the user. However, there is just a contact form provided and no phone contact or location address. An FAQ section is provided and mentions a community forum.