Forex Paris 2021 is a trading advisor that was released on March 23, 2021. Since then, people purchased the robot 8 times and downloaded it for checking 1077 times. The current version is 3.0 from May 03, 2021.
Vendor Transparency
The vendor has a medium level of transparency. We can see his portfolio with scam-like rates.
Ruben Octavio Gonzalez Aviles, the developer of this EA, has a 2.2 out of 5 star rate based on 130 reviews.
How Forex Paris Works
We prepared the next list of advisor’s features:
- Forex Paris is a fully automated trading advisor.
- It doesn’t open orders often.
- As soon as the deal is profitable, the system tries to close it.
- The developer suggests we use VanrageFx as our main broker.
- There are MT4 and MT5 packages.
- It can work with dynamic and fixed Stop Losses and Take Profits.
- The robot doesn’t open more than one order at once.
- It can be attached to any time frame.
- We don’t have many input parameters to customize.
Timeframe, Currency Pairs, Deposit
- The robot provides us with trading EUR/USD and GBP/USD.
- We don’t know what time frame the system works on.
- The deposit can be $1000 or higher.
Trading Approach
- The system has a “2-in-1 adaptive and dynamic algorithm with more than 99% profitable trades in the historical backtest.”
- The advisor doesn’t execute risky strategies.
Pricing and Refund
Forex Paris EA costs $349 for a single real or demo account license. There’s a single rental option available for $199 monthly. We can download the robot to execute a backtest before purchasing. The deal is not supported by a money-back guarantee.
Trading Results
We have a GBP/USD backtest report. The time frame chosen was M1. The data period was set for 2016-2021 years. The History Quality is 99%. An initial deposit was $1000. The total net profit has amounted to $6,660.60. The Profit Factor was 11.92. The maximal drawdown was 8.60%. It has traded 539 trades. The win rate was 98.51% for Shorts and 99.63% for Longs.
The robot worked on a real account on the Vantage FX broker. The developer didn’t mention this account after it was removed from MQL5. The leverage was 1:500. The platform was MetaTrader5. The account had a verified track record and verified trading privileges. It was created on April 13, 2021, deposited at $450, and withdrawn at $341. Since then, the absolute gain has become -39.05%. The profit has amounted -$108.95. The maximum drawdown was 42.20%.
The robot traded 10 orders with -151.4 pips. An average win was 5.77 pips when an average loss was insanely high -63.93 pips. The win rate was 85% for Longs and 33% for Shorts. An average trade length was almost nine hours. The Profit Factor was 0.26. Everything less than 1 is a scam.
The system closed both symbols with losses.
The advisor didn’t have favorite hours to trade.
Most of the deals were opened on Friday (4).
We may note that the last two losses occurred when the system traded without SL and TP levels.
Forex Paris robot couldn’t close even a month with profits.
People say that Forex Paris is…
A scam. The last comments mentioned that the system is a scam and shouldn’t be used at all.
Verdict
| Pros | Cons |
| Backtest report provided | No risk advice given |
| No money-management advice provided | |
| Trading results are scam | |
| The system can’t trade as good as on the backtests | |
| High pricing | |
| No refund policy provided | |
| Much negative feedback published from real customers |
Forex Paris EA Conclusion
Forex Paris EA is a robot that has become a scam over a month ago. It worked with insanely deep Stop Loss levels. One loss should be covered by about fifteen profitable orders. As a result, people started experiencing several deep SLs in a short period of time. Many accounts were damaged. You have to avoid it for the best.
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