Forex Gump Review – Compare The Best Forex Expert Advisors – EAs – Forex Robots 2023

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On this page, we present you with a detailed profile of Forex Gump Expert Advisors. For more reviews on other forex robots providers, follow this link.

Forex Gump is an automated EA trading software that has been on the market since 2017. It trades in nine different currency pairs in one-minute time frames. The currency pairs are AUD/USD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/USD, GBP/USD, USD/CAD, USD/CHF, USD/JPY.

This Forex Gump review will dig deeper into the robot’s features, trading strategy and performance results.

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Forex Gump Overview

The Forex Gump EA is developed by the Ukrainian programmer and businessman Andrey Kozak. The product can be used simultaneously as an indicator or forex robot. Initially, Forex Gump attracted lots of attention among the EA’s industry specialists. However, the software hasn’t been updated since its 1.0 version, which is unusual for such a dynamic market.

Forex Gump is offered in two versions, which differ in the number of demo accounts and licenses for live accounts. The basic edition for 199 USD includes one demo and one live account, whether the upgraded version is offered with three licenses or unlimited demo accounts.

You can install Forex Gump with every MT4 broker account. Once you purchase the software, you will receive a link for immediate download. It comes with a ready-to-trade setup. However, experienced traders can tweak the settings according to their requirements.

Once you link your account to the forex robot, keep in mind that you need to have around 4000 USD in your account to start trading. There is a possibility for so-called cent-trading, which means you need to fund your account with 40 USD.

However, this trading is suitable only for demo accounts as it provides a good learning outcome. To fund the account, you can use PayPal or a credit card, which is restrictive compared to other vendors that implement various payment solutions despite a popular payment method.

Forex Gump Trading Strategy Review

As we mentioned, Forex Gump works in one-minute time frames. This is a classical scalping strategy where trades are placed almost randomly, trying to get at least minimal profit of a few pips in every order.

Forex Gump Performance Results Review

On the official website of Forex Gump, the vendor has posted their exclusive FX Blue account results. Still, we did a little research and found a myfxbook account running there from April 2020 till June 2020. Here is what the statistic for both accounts shows.

Forex Gump EA FX Blue Account (started in August 2018) :

► Total gain: +2,563.6%

► Monthly gain: +10.3%

► Trades per day: 14.9

► Drawdown – N/A

Forex Gump EA Myfxbook Account (April-June 2020):

► Total gain: +306.81 %

► Monthly gain: 110.42 %

► Trades per day – 40

► Drawdown – 28.47%

As you can see from the data, Forex Gump shows good performance, and both accounts are growing. However, with the scalping strategy, every successful surge can be followed by a major blow. In our opinion, there should a be lower risk approach provided by the developers as in today’s volatile market, scalping strategy is highly risky.

Forex Gump Conclusion

Forex Gump has received both positive and negative feedback from customers. In our opinion, this is a well-developed Forex robot made with traders’ needs in mind. However, the high minimum deposit, the risky scalping strategy, and the lack of updates certainly do not contribute to putting the EA among the top tier products in the field.

Pros:

► Both robot and indicator

► Trades in all time frames

► Relevantly low price (139 USD for one license live account)

Cons:

► High-risk trading

► No updates on the software