Forex Steam is a trading solution that was introduced many years ago. The main statement is: “#1 Forex Robot of all times. 10+ Year Proven Track Record. Relied On By Over 6000 Clients. Free Updates For Life And No Upsells. Active On More Than 10000 Accounts.”
Forex Steam Features
Let’s talk about the system’s features:
- The robot works automatically on the MT4 terminal.
- There are clients in over 100+ countries.
- The developers have over 25+ years of Forex-related experience.
- The robot is delivered with a user guide.
- There are free updates and optimizations for life.
- There are four real licenses provided.
- The robot has been working for over 10 years on the market.
- They have over 6000 clients.
- The system has a Holiday Filter that helps to avoid trading during High-Impact News periods.
- The system has advanced Retrace Technology that should increase profits and decrease losses. The developers didn’t explain how they can reach these results and what we should expect from the system.
- There are High Spreads and High Slippage filters.
- We can use it on ECN brokers.
- There’s a Trailing Stop feature to trade trends all the way.
It’s everything we know from the presentation.
The developers hide information from us about the company they registered.
The trading frequency is quite low for this type of trading advisor.
Forex Steam costs $117.99. It’s a one-time payment. The package includes all versions of Forex Steam, four real account licenses, free updates, and upgrades.
How it works
The system doesn’t require us to interact with it during trading activities. It’s a fully automated trading tool.
- The presentation keeps silent about the strategy behind the system
- It works with EUR/USD.
- We can run it on M5-M30 time frames.
We have a backtest that was introduced as real trading results.
The deposit was $1000. It has become $10,415,133 of the total net profit. The rest of the details we don’t know because there’s no spreadsheet published.
Fake Trading Data Analysis
We’ve found a single real account that was abandoned over five years ago.
It was a real USC Cent account on the ProfitForex broker. The system worked automatically with 1:500 leverage on the MetaTrader 4 platform. The account had a verified track record. It was created on January 19, 2015 and deposited at USC200. The absolute gain was -19.15%. An average monthly gain was -2.87%. The maximum drawdown was 29.24%.
It has closed 131 deals with -391 pips. An average win was 16.62 pips when an average loss was -154.63 pips. The win-rate was solid – 87% for Longs and 89% for Shorts. An average trade length was 15 hours and 35 minutes. The Profit Factor was 0.85.
The system traded during the whole day, focusing on the American and Australian trading sessions.
The most traded day was Wednesday, with 34 deals.
The Stop Loss levels were ten times higher than Take Profit levels. To be profitable, the win-rate should be 95%, not less.
Forex Steam has a page on Forex Peace Army. The rate is 2,854 from 5 based on 197 reviews.
As we can see, the developers paid for reviews.
The system wasn’t profitable.
The developers hid negative trading experiences. The traders couldn’t be profitable and get a refund.
As we can see, the win-rate is far from 90%. The real one was 70%.