Forex Fury is an FX robot that boasts a winning track record of 93%. The vendor promises a safe and aggressive investment opportunity with this FX EA. This expert advisor is a fully automated system that does not need manual intervention. Two pricing packages are available for this ATS namely, a gold package that costs $229.99 and the Diamond package costing $439.99. The two packages differ in the number of live account licenses present.
Free updates, an unlimited number of demo accounts, high-performance settings, and a lifetime membership are features common to the two packages. As per the vendor info, the company has been in service for the past 6 years and is constantly improving its capabilities to achieve higher profitability.
Is Forex Fury good?
Our evaluation of the features, performance and other characteristics of this EA reveals that it is not worth the price. The absence of a detailed backtesting report and suspicious-looking real trading results are the main reasons.
Features of Forex Fury
Some of the main features of this FX robot include compatibility with MT4, MT5, FIFO, and NFA, ECN support, and strategies of high, low, and medium types. The FX robot uses multiple filters for circumventing bad market situations and uses effective money management for sustainable growth as per the vendor.
The SET files used are tested for efficacy and this ATS works on any currency pair, crypto, or indices. Other features mentioned by the vendor include easy installation and compatibility with any MT4 or MT5 broker.
|Trading Terminals||MT4, MT5|
|Price||$229.99 – $439.99|
|Recommended Deposit||$100 for micro account|
|Customer Reviews||Bad (2.785 out of 5 ratings based on 141 reviews on FPA)|
What strategy does Forex Fury use?
As per the vendor, this FX robot uses a range-based strategy that works effectively in a low volatility condition. The filters added to the settings help in seamless trading under low volatile conditions. Trading occurs one hour a day and for one pair per account to avoid volatility which ensures steady growth, as per the vendor. A time restriction-based approach is also mentioned by the vendor.
Backtesting vs live trading results
A 15-year backtesting report is displayed on the official site. But the link appears to be broken so we could only know about the total gain, drawdown, and pips from the report. The lack of a detailed report raises a red flag for this EA.
Several demos and a few live accounts verified by the myfxbook site are present for this EA. Here is a live real USD account using the AdroFX broker and the leverage of 1:200 on the Metatrader 4 platform.
From the above trading stats, we can see that the total profit gained is 26.54% and the absolute profit is of similar value at 26.54%. The daily and monthly profits are 0.145 and 4.51% respectively. A drawdown of 16.08% is present for the account. For a deposit of $10000, the profit for the account is $2654.35 for the trading done from May 2021 up to October 2021. A total of 16 trades have been completed with 100% profitability.
From the trading history, the lot size value is 5.00. Compared to the backtesting result, the drawdown in real trading is higher. The big lot size makes us suspect the account is using a risky approach. Although the vendor mentions that only 2 trades per week are executed the low number of trades looks suspicious.
The core team
As per the info on the About Us section, Patrick Ryan is the CEO of the company. Other core team members include Joe Damien, head analyst, and Haroon Mir, the head developer. While email addresses are provided for the members, there is no info on their expertise and experience. We could not find details like the location address of the company, phone number, etc. An online contact form is the only support method available.