Forex Flex EA Review 2023 – Compare The Best Forex Robots EA Providers

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Below you will find a review on Forex Fury Forex Robot. We have reviewed various forex robots/EAs to help you make your informed choice.

Forex Flex EA is a popular forex robot with over seven years of history on the market. On its own, this longevity is remarkable as most forex robots have a lifespan of 1-2 years. This Forex Flex EA review will discuss its trading strategy, backtest results, and real-life examples of its performance.

Forex Flex EA Overview

Forex Flex EA is developed by a talented coder with more than a decade of practice producing automated trading software. He is known as “Admin Steve” in the Forex Flex EA forum, as he prefers privacy and instead leaves his work to speak for itself.

And so far, Forex Flex EA has done an excellent job on his behalf. The forex robot is well-established among traders using automated software. It runs under both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. It comes with excellent customer support from the developer and an online community united in a special Forex Flex EA forum.

This dynamic interaction enables the developer to constantly adjust his product (hence the “flex” in the name) and keep it up-to-date and running according to the latest market.

Like every other EA, Forex Flex EA comes with an in-box setting, and all you need to do is install it according to the instructions. That being said, you can also customise the forex robot according to your requirements, which is unusual for most of the EAs on the market.

Forex Flex EA Trading Strategy Review

Forex Flex EA uses an innovative concept. It analyses the market movement based on virtual trades until it finds a suitable entry point to place an actual trade. It’s quite a clever idea as it enables the flexibility mentioned above and the EA’s ability to constantly adapt to the dynamic forex market.

Forex Flex EA implements the impressive 12 different trading strategies. Every package comes with 12 various setting configuration that provides 12 different trading strategies.

Although the developer hasn’t listed each strategy, some customers testimonials point out that Forex Flex EA offers grid, half-grid, half-risk, trend surfing, x3Retrace strategy, default, TDI cross. Additionally, the software supports the Hedging strategy, but it could be activated only if your broker allows hedging.

According to the official website, Forex Flex EA can be used on “virtually any chart”. Still, the developer recommends using it with the following ten currency pairs: GBP/USD, USD/JPY, USD/CAD, USD/CHF, EUR/USD, AUD/USD, EUR/JPY, EUR/CHF, EUR/GBP, NZD/USD. This is still quite impressive compared to some other EAs, usually offering 2-5 currency pairs.

Forex Flex EA Backtest Review

There is only one screenshot of Forex Flex EA backtesting results, using a modelling quality of 99%. It shows:

► GBP/USD – 19397.87% Gain and 12.71 Drawdown (DD) (for the whole period)

► EUR/USD – 25490.7% Gain and 12.57 DD (for the whole period)

The backtests aren’t the most accurate repression in real-life market conditions. Luckily, there are plenty of charts on the Forex Flex Ea official website -Correlated Hedge Verified results published by different clients.

Forex Flex EA Profitability and Drawdown Review

For this Forex Flex EA review, we analyse a USD account working on the MT4 platform under FXOpen brokerage and trading with 1:500 leverage. The account is launched at the beginning of 2020 with an initial deposit of 1000 USD. For one year of trading, the account gained 498.78%, with a monthly gain of 18,16%.

The maximum drawdown is 19.90% which is within the low-risk level. The average trade length is 15 hours, and the profit factor is 2.46.

Forex Flex EA Conclusion

Forex Flex EA has built a solid reputation among traders using automated software. The software’s biggest advantage is its continued development, which enables it to remain accurate to the current market conditions.

However, the excellent performance doesn’t come cheap, and for the price of up to 500 USD, Forex Flex EA might give second thoughts to many before purchase.

Pros:

► Customer support and users’ forum

► Long history of performing

► In-box settings

Cons:

► High-price

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