InvestGrail
  • Top FX EAs
  • Investing 101
    • Crypto
    • Options
    • Forex
    • Stock Market
  • Strategies
    • Day Trading
    • Swing Trading
    • Arbitrage
    • Investing
    • Options
  • Analysis
    • Technical Analysis
    • Fundamental Analysis
  • Reviews
    • Online Brokers
    • Forex Expert Advisors
    • Crypto Robots
    • Investing Apps
  • Top Articles
    • Best Forex Robots – Top 6 FX EAs 2022
    • Best Desktop Crypto Portfolio Trackers
    • Best 6 Forex Brokers That Accepts Crypto Deposit for Trading
    • The Best Copy Trading Platforms List: Pros, Cons and Comparison
    • Top 5 Best Coins to Mine for Beginners
    • Top 5 Best Gaming Crypto Coins to Participate
Forex Expert AdvisorsReviews

Red Fox EA Review: Is This Forex Robot Profitable or Not?

by manager91 10/03/2021
10/03/2021

Red Fox EA is an MT4 tool that claims to provide a low drawdown and consistent profits for traders. It uses two types of settings namely aggressive and low drawdown settings. This is a fully automated system that can be set up in less than 5 minutes. It uses smart indicators for trade analysis. 

To purchase this EA, you need to pay $266. The vendor provides a 14-day refund offer using which you can test the EA on a demo account and if not satisfied can get your money back. We could not find info on the developer or the founding year of the company. This shows a lack of vendor transparency.

Discover 10 Best FX EAs That Are Worth Investing

Is Red Fox EA good?

On evaluating the various aspects of this FX EA, we find that it is not a trustworthy product. While the vendor claims it to provide stable profits and a low drawdown the real trading results prove the claims to be false. We feel it is an overpriced EA that is not worth the price.

Features of Red Fox EA

Features of Red Fox EA

Some of the features that the vendor highlights for this ATS are listed below:

  • A drawdown ranging from 9% up to 18% for the low drawdown setting and 15% up to 38% for the aggressive mode.
  • Profit ranging from 10% up to 48%
  • Automated management of lots based on the funds in the account.
  • Use of news filters to prevent trading during the big event days.
  • Use of smart indicators for market analysis.
  • Spread control feature to avoid trading in a volatile market condition.

From the above-mentioned features, we find that there are no new or innovative features that set this system apart.

Trading TerminalsMT4
StrategyMarket Reverse Price
TimeframeN/A
Price$266
Money Refund14 days
Recommended Deposit$1000
Recommended Leverage1: 500
Money ManagementYes
Customer ReviewsBad 

What strategy does Red Fox EA Use?

Strategy of Red Fox EA

As per the vendor, this FX robot uses the market reverse price approach. It makes use of inbuilt indicators for the market analysis and uses a non-Martingale approach. The vendor claims that this ATS is designed to produce a low drawdown and it is not possible to blow an account with this EA. There is no further info on the approach. The lack of explanation of the strategy raises a red flag for this FX EA.

Backtesting vs live trading results

The vendor does not provide backtesting results. However, a real account verified by the myfxbook site is present for this EA. 

Growth curve for Red Fox EA
Advanced stats for Red Fox EA trading results

From the above screenshots, we can see the real USD account using the leverage of 1:500 on the MT4 platform has both track record and trading privileges verified. A total profit of 29.32% and an absolute profit of 29.34% are present in the account. It shows a drawdown of 38.55%. For a deposit of $1000, the account started in May 2021 has completed 606 trades and reveals profitability of 78%. The profit factor value is 2.06. 

From the trading history, we can see a lot size of 0.01 is used for the trades. Although there is no mention of the type of setting used for the account, the high drawdown indicates the strategy used is very risky. Further, the profits are not as high as the vendor claims, making this EA a bad investment of traders.

The core team

The My EA Academy site promotes this FX robot. It is part of the SinryAdvice Worldwide company which is based in Malaysia. We could not find info on the developers or the team behind the products of this company. A location address is provided for the firm but there is no telephone number.  For support, the vendor provides an email address, live chat feature, and social media links.

End notes

End notes

Red Fox EA claims to provide low risk and high returns. But our evaluation reveals this is not so. While the vendor provides verified trading results, they show a high drawdown and low profits which indicate the approach used is risky and the performance poor. Further, the lack of backtests and vendor transparency are other downsides that make this FX robot an unreliable system.

InvestGrail
  • Rating
    4
  • Yield
    5
  • Reliability
    4
  • Trading approach
    4
  • Consistency
    4
  • Customer support
    5
The Goods
  • Fully automated trading software
  • Verified trading results
  • 14-day refund offer
The Bads
  • No explanation is present for the trading approach
  • Live results show a high drawdown
  • Lack of vendor transparency
4.3 2.1666666666667 5
Average Score
Discover 10 Best FX EAs That Are Worth Investing
Share
0
FacebookTwitterPinterest
previous post
FX Cipher EA Review: Is It Profitable?
next post
Happy Neuron Review: Is This Forex Robot Profitable or Not?

Related Posts

The 5%ers Review

08/18/2023

FundedNext Review

08/16/2023

Topstep Forex Review

08/14/2023

FTMO Review

08/12/2023

SurgeTrader Review

08/10/2023

Tech Trader Review

08/08/2023

Tickeron Review

08/06/2023

BlackBoxStocks Review

08/04/2023

Trend Spider Review

08/02/2023

Trade Ideas Review

07/31/2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

  −  4  =  2

Recent Posts

  • Analysts see Bitcoin at $100,000 soon
  • Spartan Delta Corp. Announces First Quarter 2025 Results
  • XRP trading volume steady at $3.2B in Q1, but XRPL activity contracts sharply · Cardano Feed
  • Totally free Bucks, Bonus Drops, and Match Also provides from Golden Grimoire Rtp $1 deposit the Wager Big Dollars Casino – América Digital
  • Bitcoin to $1M ‘by 2029,’ CIA tips its hat to Bitcoin: Hodler’s Digest, April 27 – May 3

Top Articles

  • The Best Copy Trading Platforms List: Pros, Cons and Comparison

    06/28/2022
  • Best 5 Silver Backed Cryptocurrency to Buy Right Now

    05/09/2022
  • Desktop Crypto Portfolio Tracker: Best 5 for Investing & Active Learning

    04/23/2022
  • Top 5 Best Coins to Mine for Beginners

    10/04/2021
  • Best Forex Robots – Top 10 FX EAs 2022

    10/04/2021

Categories

  • Analysis (17)
    • Fundamental Analysis (9)
    • Technical Analysis (8)
  • Investing 101 (112)
    • Crypto (66)
    • Forex (8)
    • Options (6)
    • Stock Market (32)
  • News (101)
  • Reviews (183)
    • Brokers (7)
    • Crypto Robots (26)
    • Forex Expert Advisors (138)
    • Forex Signals (2)
    • Investing Apps (9)
  • Strategies (90)
    • Arbitrage (12)
    • Day Trading (25)
    • Investing (18)
    • Options (13)
    • Swing Trading (19)
  • Top (7)
  • Uncategorized (5)
  • Home
  • Contacts

@2023 - All Right Reserved. Investgrail.com

InvestGrail
  • Top FX EAs
  • Investing 101
    • Crypto
    • Options
    • Forex
    • Stock Market
  • Strategies
    • Day Trading
    • Swing Trading
    • Arbitrage
    • Investing
    • Options
  • Analysis
    • Technical Analysis
    • Fundamental Analysis
  • Reviews
    • Online Brokers
    • Forex Expert Advisors
    • Crypto Robots
    • Investing Apps
  • Top Articles
    • Best Forex Robots – Top 6 FX EAs 2022
    • Best Desktop Crypto Portfolio Trackers
    • Best 6 Forex Brokers That Accepts Crypto Deposit for Trading
    • The Best Copy Trading Platforms List: Pros, Cons and Comparison
    • Top 5 Best Coins to Mine for Beginners
    • Top 5 Best Gaming Crypto Coins to Participate