Red Fox EA is a trading solution that was released under the My EA Academy brand. It belongs to the SinryAdvice company. The main claim is “Red Fox EA is able to analyze technical and fundamental data.”
The company is quite known on the Forex market. They have many products where over half of them are scams.
What is behind Red Fox EA?
The system has a short presentation. It was a challenge for us to gather all the data in the list:
- The advisor executes orders completely automatically for us.
- It works with low drawdowns on the account.
- We may like to use aggressive settings that are turned off by default.
- With low drawdowns, the monthly profit can be 10-28%.
- For aggressive settings, the monthly profit can be from 17% to 48%.
- The money-management system calculates lot sizes for us automatically.
- There’s a news filter implemented.
- The advisor doesn’t use Martingale.
- We can use a speed control feature.
- The system can be used on a single real and demo account.
- The core strategy is Market Reversal.
- We can work with low risks.
- The advisor can be applied to MT4.
- The developers insisted that the robot should be tested on a demo account first.
- We cannot trade on the same account if the system is applied.
- The system should be kept on the terminal 24/7.
- It works automatically on the terminal.
- The system calculates entry points, stop losses, and take profit levels for us.
- It takes into account the available margin, calculating lot sizes.
- The minimum deposit should be higher than $1000.
- “The Low Drawdown pairs: EURCAD, EURUSD, GBPUSD, GBPCAD, USDCAD.”
- “The Aggressive pairs: AUDUSD, EURAUD, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPNZD, GBPUSD, USDCAD.”
- We have to work with it on the ECN account and 1:500 leverage.
- The developers suggest we use OpoForex as the main broker.
- It works with a market reversal strategy.
- We can trade in nine cross pairs.
- We have no details provided about the time frame.
The presentation doesn’t include any sign of backtest reports. It’s a solid con because the system should have been properly tested on the past tick data before becoming an advisor. So, the devs must have the backtest reports but made a decision not to publish them.
We can purchase a robot for $266. The package is featured with a single real account license, an implored number of demo accounts, support, updates with upgrades, and a 14-day of refund policy.
Trading performance of Red Fox EA
We have trading results provided, and this is significant information about how the system acts on a real account. We can check win rate, profitability, and other statistical data to predict how the system will work on our account. The advisor has been trading on a real USD account on OpoForex automatically with 1:500 leverage. The devs decided to set the system on MT4. The account has a verified track record. The account was deployed on May 17, 2021, and deposited at $1,000. Since then, the absolute gain has become 29.32% with an average monthly gain of 6.92%. The maximum drawdown is 38.55%. Everything that’s higher than 20% can be counted as risk trading.
The system has closed 606 orders with 3849.2 pips executed. An average win is 14.63 pips when an average loss is -22.27 pips. An average win rate for longs is 76% and 78% for shorts. An average trade length is over 18 hours. The profit factor is 2.06.
USDCAD overtook GBPCAD in closed orders. Most of the profits were obtained on EURUSD – $97.35
We may note that the robot focuses on trading calm periods after Midnight and the European trading session.
Wednesday and Friday are the most actively traded days.
The advisor works on the account with low-average risks to the balance.
The robot focuses on closing orders after reaching a proper level by using a trailing feature.
The system has closed four months with different profits in a row. September doesn’t look great so far.
The developers provide average support, using bad English with many mistakes. The information is not always useful, and we have to contact them once again.
The presentation has several testimonials written about how great the advisor is. We cannot be sure that they are relevant.