Forex Alpha is a new expert advisor that was released recently. We could not get vital information about who created this automated trading robot and where they are located but they claim to be able to deliver “double-digit returns even during the worst economic crisis.” There is a link to an about us page, but this page doesn’t exist. For contact, you can fill out a contact form at the bottom of the website. You cannot access a direct mail address for your questions.
Forex Alpha EA is said to adapt to all market conditions and trade 24 hours a day. It is compatible with all MT4 brokers. It’s also worth noting that this company is not associated with Pure Alpha, which is a separate robot from a different developer.
Forex Alpha EA Review
Forex Alpha lacks the required transparency in important details and that will make it difficult to be a choice amongst the best forex robots. There are 6 reasons why the creators of the Forex Alpha EA believe that their trading robot stands head and shoulders above their competitors. These reasons include their advanced money management system, broker compatibility, 24/7 support, multicurrency trading, ease-of-use and adaptive trading strategy.
Inadequate Trading Strategy
During our review of the Forex Alpha EA, we saw that the provided insufficient explanation on how the EA works and as a result, we are not sure how the Forex Alpha EA is able to profit from the slightest movements in the market as they have claimed. This trading logic consists of “automatic leverage levels,” a unique feature where the development team claims that the software will automatically modify the leverage based on the performance of the trade. If a trade is performing well, then the leverage will grow, but if the trade is losing, the leverage will be capped at a predetermined level.
- Type: Forex Robot
- Price: $199
- Strategy: Leverage
- Timeframe: H1
- Pairs: EURUSD, AUDUSD, EURCHF, ERUGBP, EURJPY, USDCAD, USDCHF, USDJPY
There is a real account and demo account to subscribe. The Forex Alpha EA is currently available for $199. At this price, traders get access to one real account, unlimited demo accounts, free updates and a 60 day moneyback guarantee. There is also a coupon available “20OFF” which gives traders access to a 20% discount for a limited time.
Intraday Time Frame
When you want to buy an expert advisor but you are considering which one has the best time frame for you, there are three time frames you should bear in mind; Long term, Short term and Intraday.
Forex Alpha EA time frame is at H1, which means the robot completes a trade in 1 hour.
Such hourly trades have advantages which include lots of trading opportunities, less chance of losing months and no overnight risk. But you should consider that the transaction costs will be much higher (more spreads to pay).
Major and Minor Forex Pairs
When you trade in the forex market, you buy or sell in currency pairs.
Forex Alpha EA deals on 5 major Forex pair; EURUSD, USDJPY, AUDUSD, USDCAD, USDCHF and 3 minor pairs EURJPY, EURCHF, ERUGBP.
The majors are the most liquid and widely traded currency pairs in the world. They account to about 85% of Forex trading.
At the SCAM EA, you will find hundreds of reviews of Forex robots, where we check to see if they are verified investment product, or simply a scam. The way investors properly compare a Forex EA result, is by checking to see if their results are published in a public statement sharing site, like myfxbook or FXBlue.
Forex Alpha provided their result on FXBlue. There are no Myfxbook accounts, which is disappointing, because Myfxbook provides the most transparency when it comes to verified trading results.
The FX Blue account being provided by the Forex Alpha EA developers is showing a 320% gain in just under 100 days. This comes with a monthly return of over 50%, a trade winning percentage of over 70% over 34.5 trades per day. The average trade length is 32 hours, and the drawdown is 39%.
The numbers being provided are great, but without seeing them on Myfxbook, we have to remain skeptical. We simply aren’t sure these results are reliable and questions about whether or not real clients will be able to reproduce them.
Forex Alpha EA Review Conclusion
Is really too early to come to a conclusion about the viability of the Forex Alpha EA. The website looks okay, and they do provide some interesting information about their strategy, but we aren’t so sure about their trading results in the overall lack of transparency in their presentation. We plan to wait and see what the community has to say about the program, before we take any further steps. However, if you feel that this Forex robot is not for you, please take advantage of these trading tools instead.