Is Elemental FX reliable for your trading account? Should you buy this system for a better trading experience? Read this review to find out if this forex robot is worth your money or not.
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About Elemental FX
Elemental FX is a forex robot available on MQL5 website. The developer of the system is Evgeniy Machok from Russia. It is an automatic trading robot that opens and closes orders.
According to the vendor, the product can be purchased at the rate of $199 with no rental option available.
Elemental FX claims to give advantage in the financial market with its expert strategy. Here, “the system uses stop loss and DD parameters for protecting positions”.
Elemental FX: Reasons to Avoid this Expert Advisor
Firstly, Elemental FX is a forex robot that fails to pay attention to details. The sale pitch of this Expert Advisor shows some transparency issues with the product.
Secondly, the system has no cash back for the product. There is no guarantee that your money will be refunded if the product does not work as it is claimed to be.
More so, the customers’ feedback is pretty worrisome. There are few customer reviews on MQL5 where the product is sold of which they all sound too good to be true.
EXPERT RECOMMENDATION: Use the Best Forex EAs/Robots in the Market Below
Accounts
Free Trial
Projects
SSL
2
Strategy: Scalping
Time Frame: M1, M5, M15 and M30
Currency Pairs: All Pairs
License fee: $147
30 Day Money-back Guarantee
1
Strategy: Stop and Reverse
Time Frame: All time frames
Currency Pairs: EUR/USD, EUR/GBP and USD/CHF
License fee: $149
60 Day Money-back Guarantee
3
Strategy: Scalping
Time Frame: M1, M5, M15
Currency Pairs: All Pairs
License fee: $147
30 Day Money-back Guarantee
Elemental FX Trading Strategy
Elemental FX does not use martingale, grid, arbitrage rather it works with the trend.
The system operates on the recommended currency pairs EURUSD, USDCHF, USDJPY, USDCAD, AUDUSD, EURJPY, EURCAD, CHFJPY with a timeframe of M5.
There is recommendation of $100 minimum deposit.
Elemental FX Trading Results
The vendor provides back testing results for us to estimate the system’s potential. According to the result, it 3997 trades with 77.52% of the win rate for shorts and 88.07% for longs. The maximum drawdown was 22.49%. However, the system incurred serious losses despite those awesome figures. There is an average loss of -$1294.70 and average gain of $759.32.
Conclusion: Is Elemental FX a Reliable Forex Robot?
Elemental FX does not seem like a reliable forex robot for traders even though it promises offers that look good to be true.
More so, not guaranteeing forex traders a refund for their money if the system does not prove trustworthy as it claims is a con.
Because this EA does not consider it necessary to provide information, we do not recommend this forex robot for trading.
Kindly share your comment about this broker in the comment section.
