Forex Fury trading system is compatible with MT4, and MT5 trading platforms. The robot comes with multiple live records that show a poor performance in recent years. The developers are hiding their backtesting records and are making false claims on the current profitability. Review the article below to gain more information on the expert advisor can potentially cause a margin call on your portfolio.
Forex Fury is developed by a company based on a group of Forex traders who have been providing their services for six years in the forex trading market. Patrick Ryan is the enterprise CEO, and Haroon Mir is the head developer of the EA. They present their portfolio on the LinkedIn website. They have limited numbers of followers and connections showing zero interest by the general community. This is quite strange as their website mentions a total client count of over 10000.
How Forex Fury works
The bot comes with the following features:
- It works with MT4/5 platforms.
- The algorithm has various membership plans.
- Multiple filters are available to cope with poor market conditions.
- The bot has an easy setup that comes with video guides.
- The EA comes with unlimited demo accounts access and free lifetime updates.
Timeframe, currency pairs, deposit
The algorithm trades on all symbols. The micro account needs a deposit of $100, and the EA is compatible with all account sizes. Adapting a system to multiple instruments would require a neural strategy or high accuracy. It is quite strange that a few individuals have managed to create a product that claims to generate over 10% each month while trading various assets.
The robot trades on specific hours as per the developer’s statement and has a scalping approach to the markets. The author is unclear on the game plan, so we observe the Myfxbook records. It is evident that the system is trading without a proper stop loss in place. It opens trades at 23:00 and can hold them for a day or two. Without any exit in place, the losses can exceed 30 pips. This results in a high drawdown evident from the live records.
Pricing and refund
There are two purchasing plans available for Forex Fury, gold and diamond. The $299 offer allows access to one account, whereas users can acquire two keys for $499. The developer provides no information on the refund policy. The expert advisor’s price is slightly higher than other trading tools available in the forex market.
There are no backtesting records available for Forex Fury. Accurate historical records can help us analyze important metrics like drawdown, win rate, profit factor, etc.
The verified live records are available from October 2017 till the current date. Since its inception, the EA has generated a profit of $23,493.96, where the daily win rate stands at 0.04%. The profile shows a drawdown value of 41.90% and a gain percentage of +92.83% with a monthly gain of just 1.96%.
The account had an initial deposit of $30,000.00, where the current balance stands at $44,493.96. After conducting 457 trades, the bot has a win rate of 100% with a profit factor of 970.62.
From the monthly gain charts, we can observe that the system only had a satisfactory performance in 2020. Afterward, it starts on a downward hill and shows strange ups and downs in the monthly output. This goes against the developers’ claims of an average 10% performance/month.
People say that Forex Fury is…
The bot has a rating of 4.3 based on 183, as seen on Trustpilot. One of the traders comments that it is a bad investment, and others should avoid purchasing the EA.
Another user praises the product and states that the team provides fast technical support, and the EA works nicely.
On Forex Peace Army, the story is even worse as the algorithm has a poor rating of 2.713 for 143 feedback. A trader comments that the EA is a complete scam and that traders should avoid it if they value their money.Alt. Customer feedback on Forex Peace Army.
Forex Fury EA
Easy installation method
A bit costly
No details on the money-back guarantee
The company is not transparent in the strategy
Negative customer reviews
Poor trading results
Forex Fury Conclusion
Forex Fury is not transparent on its backtesting records and trading strategy. The algorithm uses a grid strategy, which can cause a high drawdown if the market moves with momentum. The author provides no information on the refund policy of the algorithm, the company residing place, and the founding year