Is Red Fox EA 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 Red Fox EA
Red Fox EA is a forex robot available on MyEaAcademy website. The developer of this EA is not known neither is the trading experience told.
According to the vendor, the system uses full set up guide, auto lot management based on the money on the account, and spread control.
Red Fox EA claims to give advantage in the financial market with its expert strategy. Here, the system offers forex trader smart inner indicators.
Red Fox EA : Reasons to Avoid This System
Firstly, Red Fox EA is a forex robot that fails to pay attention to details. The sale pitch of this EA shows some transparency issues of the product.
Secondly, back test result was not provided for forex traders to know how good the EA performed before it was released into the market.
More so, there are positive customer reviews on the vendor website which are too good to be true. However, this leaves us in doubt because this is a way to lure traders into buying the system.
Lastly, from the trading result, the EA shows low gain on trades executed.
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Accounts
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2
Strategy: Scalping
Time Frame: M1, M5, M15 and M30
Currency Pairs: All Pairs
License fee: $147
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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
Red Fox EA Trading Strategy
Red Fox EA strategy is based on market reverse price as well as the use of internal custom indicators to analyze the market.
Also, the system operates on currency pair like low drawdown pairs namely EURCAD, EURUSD, GBPUSD, GBPCAD, USDCAD. Also, aggressive pairs, which are: AUDUSD, EURAUD, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPNZD, GBPUSD, USDCAD.
As for the time frame, it is recommended 24/7.
Red Fox EA Trading Results
According to the USD Real account of Red Fox EA 10k on Myfxbook, the account traded on a deposit of $10,000 with an average monthly gain of 8.35% and drawdown of 47.51%.
Also, the account closed 467 trades with an average win of 16.17 pips and an average loss of -25.07 pips.
Conclusion: Is Red Fox EA a Reliable Forex Robot?
Red Fox EA does not seem like a reliable forex robot for traders even though it promises offers that look good to be true.
The lack of details on important insights is a turn off. Forex robot like this one should provide enough information for traders to have some level of trust.
It is our duty to review forex robot and also share reasons. For now, we will not recommend this system for trading.
Kindly share your comment about this broker in the comment section.
