Extreme Forex is a fully-automated expert advisor that trades on the XAUUSD currency pair. The system is not sensitive to spread and brokers. The developers state that their algorithm can generate a wealth of income for the traders. To find out more about this robot, read the review below, where we have uncovered all the bogus claims.
There is absolutely no information about the developers behind this system like their names, industry experience, degrees, or diplomas. Furthermore, crucial information like a company address or seller’s whereabouts has not been provided, pointing to a lack of transparency. The only way to reach the sellers is through a query form or an email address.
How Extreme Forex works
The system comes with the following main features:
- It provides email support to customers
- Requires a VPS for working
- Does not ask for any upfront payment
- It comes with auto GMT detection
To install the EA, use the following steps:
- Buy the robot from the website and download the files package
- Launch the MT4 platform on your PC
- Unzip or extract the EA files from the given documents
- Attach the files to the charts section in MT4
- Enable auto-trading
Timeframe, currency pairs, and deposit
The robot trades on the M15 timeframe. The currency pair for this system is XAUUSD, and the sellers state that traders can start operating with as little as 100 USD using cent accounts.
The robot does not use grid or hedge strategies but utilizes innovative scalping methods with entry and exit algorithms to make safe market entries. There is a stop loss and take profit attached with each trade.
The history on Myfxbook shows that the developer is lying about the non-implementation of averaging. It uses a day trading approach with an average holding duration of 1 hour and 29 minutes.
Pricing and refund
Extreme Forex is sold in two packages. The Power package comes at 99 USD per month, which requires a 50 USD deposit on a XAUUSD currency pair. It provides automated services with an expected profit ranging from 80% to 90%. The trade volume falls between 120 and 150.
The other package, Super Power, is given at 25% profit sharing, requiring a 100 USD deposit with an expected 60-75% profit and a trading volume of 230-300. This also requires the XAUUSD pair and offers free VPS hosting. The vendors provide a 14-day money-back guarantee.
Backtesting records have not been provided for this robot. This is highly unprofessional. Such practice points toward the fact that the vendor hides something about the past performance of this EA.
Myfxbook verifies the trading records provided by the seller. They cover performance from June 01, 2022, until June 06, 2022. These results correspond to the USDCent account on the MT4 platform with a leverage of 1:400. An initial deposit of USC 5000 has been converted into a profit of USC561.50. The daily growth rate is 1.79%, with the drawdown value standing at 4.37%. This is relatively high considering that these trades started only a few days back.
This EA has participated in 51 trades, of which 35% have resulted in losses. The short duration of live records does not make a convincing statement for the EA.
People say that Extreme Forex is…
Unclear. Unfortunately, we could not locate any promising customer reviews about this product on third-party sites like Trust Pilot or Forex Peace Army. Without these, we cannot possibly know what others have to say about this system’s performance.
|Money-back guarantee within 14 days.||No clear description of the strategy.|
|Backtests have not been provided.|
|Vendor information is not available.|
Extreme Forex EA Conclusion
The lack of any seller information regarding whereabouts, number, and other credentials makes the purchase of Extreme Forex ambiguous. Also, the absence of backtesting records raises some serious concerns about the performance of this robot. Furthermore, the absence of customer feedback is crucial information without which this robot cannot make a convincing argument.