ReviewsTrading Robots

Forex Gump Review

0
Forex Gump

Forex Gump uses a candle and a news filter to capitalize the markets. It comes with three different risk management settings, which will result in different outputs in terms of profits. The robot requires a high deposit of $4000 to work.

Forex Gump Robot Review

The website doesn’t provide much information on how long the robot has been in place. The records on FX Blue state that it has been working for two years. Over the course, the robot has provided 2711.4% in profits which caught our eyes. Therefore we decided to review the expert advisor and see what kind of real profitability it holds.

What is behind the Forex Gump EA?
The company doesn’t provide any information behind the program. We don’t know the experience of the developers.

How it works

To set up the algorithm for proper working, you have to place the ex4 file sent over by the developer in the experts’ directory of the MetaTrader platform. Place the robot on the respective charts and enable auto trading for proper functioning.

Key Features

Forex Gump has the following key features with their services:

  • Offers free 24/7 support with updates
  • Uses a unique strategy to trade the markets
  • Allows you to trade on a cent account as low as $49
  • Can trade on nine currency pairs

The robot works on an M1 time frame at nine different currency pairs AUDUSD, EURCHF, EURGBP, EURJPY, EURUSD, GBPUSD, USDCAD, USDCHF, and USDJPY. It is recommended to use a leverage of 1:100 or higher for better profitability.

Trading Strategy

The developer states that the robot uses a candle and a news filter and takes the profit in a unique way. The algorithm adjusts itself to changing market conditions. There are three different settings, low, medium, and high, which can change the amount of risk the EA is taking. The robot works automatically 24/5 and will not miss any opportunities unless turned off by the user himself.

Unfortunately, there are no backtesting results that we can use to determine if the system is profitable or not.

Pricing

For a single live and demo account, the robot will cost you 199 Euros as a one-time payment. Three live and unlimited demo portfolios come for 399 Euros. Both packs offer 24/7 support, free updates and come with a 30-day money-back guarantee. To claim the return, you have to send a live account statement to the developers with reported losses.

Trading Performance of Forex Gump

The company presents two different accounts with different initial values. They only present an image on the verified results, which can be configured to show the designated statistics. Strangely, the developers do not provide a direct link. The first account trades on the H4 chart with 25 different currencies while it uses the M1 chart and nine pairs. Both accounts have been live for nearly a year and have a winning rate of over 80%.

There are frequent separations between the equity and balance curve which depicts that the robot uses grid and martingale strategies. The robot holds trades for more than 24 hours, which means applying an intermediate approach between swing and day trading.

Trading account chart

Customer Support

You can contact the support by filling out a form on the website. The service is available 24/7.

People Feedback

Customer reviews are available on TrustPilot and Forex Peace Army, which has only single feedback that gives it a rating of 3.7 and 4 stars, respectively.

Customer reviews

Forex Gump Robot Review

6

Forex Gump is not a profitable system in the long run. It uses risky strategies to profit in the market, which results in a considerable loss of equity. Sooner or later, the live account is going to result in a margin call.

  • 30-day money-back guarantee
  • They do not provide a link to their trading results
  • No transparency on who is the developer
  • No backtesting results are available

Investor Relations Guide: How Not to Miss the Best Stocks of the 2021?

Previous article

Neural Bot Review

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Reviews