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Growex Review

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Growex Review

Growex is a company that has simple and not quite an informative presentation. 

Growex Review

We have only this information about the owners. Most likely, it’s a scam because there are no social network profile links provided. We have no links on MQL5 as well.

Growex Review

The company runs its two accounts for over a year. So, we decided to take a look at the performance.

What is behind the Growex?

Growex Review

The presentation includes some explanations about how everything will work making money for us:

  • The system will copy signals on our account fully automatically.
  • The robot works with only proven strategies.
  • There are three risk levels implemented.
  • There’s drawdown protection in the system.
  • We can copy trade with low latency.
  • The company promotes IC Markets.

Key Features

  • We have risks, and balance requirements explained.
  • We can trade the next pairs: AUDUSD, EURCHF, EURGBP, EURJPY, EURUSD, GBPUSD, NZDUSD, USDCAD, USDCHF, and USDJPY.
  • The maximum number of positions per currency pair are six. 
  • We don’t know a time frame.

Trading Strategy

  • The advisor runs the system executing a Grid of orders strategy.

Growex Review

  • It also uses a “not Martingale” feature that is, in fact, Martingale.
  • The presentation doesn’t include backtest reports.

Pricing

Growex Review

There’s a one or two-week trial available. After that, we will be allowed to trade from the same VPS provider for free.

Growex Review

The signals are available for $39 monthly. Unfortunately, the developers provide no money-back guarantee. We only know that the package may include VPS, and this is all. Usually, packages are explained much better.

Trading Performance of Growex

Growex Review

There’s a real USD account on FXOpen where the robot trades in mixed style. The leverage is 1:500. It uses technical data from indicators from MT4. The account has a verified track record. It was created on February 27, 2020, deposited at $10,375, and withdrawn at $14,409. Since then, the absolute gain has become +786.98%. An average monthly gain is 15.49%. The maximum drawdown is 13.42%. The account is tracked by 115 traders.

Growex Review

It has executed 928 deals with 6818 pips. An average win is 26.77 pips when an average loss is -36.48 pips. The win rate for Long positions is 71% when for Short positions, it is 67%. An average trade length is over sixteen hours. The Profit Factor is 2.46.

Growex Review

The most-traded symbols are GBP/USD (192 deals), EUR/JPY (143), and USD/CAD (128). Most of the profits were obtained on GBP/USD – $3,104.63.

Growex Review

The system works mostly during the European trading session.

Growex Review

The robot almost doesn’t trade Friday (107 deals).

Growex Review

The advisor works with low risks to the account balance. Anyway, there should be only 26 deals lost to lose 10% of the account balance.

Growex Review

As we may note, the system can lose Grids with the big numbers of the lost pips.

Growex Review

The robot makes little monthly profits this year.

Customer Support

Growex Review

The company provides support via email, Whatsapp, and a Telegram bot. There’s no positive feedback with mentions of support quality. 

People Feedback

Growex Review

Growex Review

The first positive comments were written at the end of April 2021. The service has been working since February 2020. So, for more than over a year, we’ve got no testimonials. That feedback looks like the paid ones for a monthly subscription or so.

Growex Summary: Worth it or not?

Growex

3

Growex is a copy-trading service that allows us to get traded deals from the master account to ours. The robot works with ten various pairs with different success using a risky strategy - Grid. The developers have been running the business for over a year, but there are no comments about quality and suitability from 2020.

Pros
  • Strategy explanations provided
  • Risk and money-management advice given
  • Real-account trading results
  • Affordable pricing
Cons
  • No backtest reports provided
  • The system works with medium risks
  • Weird pricing
  • Lack of feedback from clients during the first year of service existence

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