ForexExtract EA Review 2023 (Drawdown Limitation)

ForexExtract EA is an automated trading software that has many levels of protection which provide good reliability and security for the user’s account. The algorimthm of the ForexExtract robot principally makes it possible to find good market entry points and manage orders in such a way as not to make large losses. These are some of the characteristics of the robot that the developer believes will help you hammer the Forex market. Let’s see for ourselves if the EA can live up to the promises in this review.

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ForexExtract was developed by the ForexStore team, a group of experienced developers with more than 6+ years of experience in the marketplace. Their numerous contributions are well trusted by users and rated high by industry experts. Some of their recent works include FXParabol, FXQuasar and FXConstant. This ForexExtract programe has proven its profitability and stability in real tests on accounts with money, not just on demo accounts.

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ForexExtract EA Review

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Forex Extract EA Review

Before you purchase this ForexExtract EA software, you need to be aware that it is trusted by users and well vetted by industry leaders. However, we have also noted that it trades with some risks to the balance. We outline the features included in this Forex robot:

  • It works on AUDUSD and USDCAD currency pairs.
  • The system has many levels of protection against unprofitable trades.
  • It is compatible with any broker and not spread sensitive.
  • It’s maintained and updated continually from the vendor’s server.
  • It trades on both the MT4 and MT5 accounts.
  • The robot has verified results on real accounts and with multiple backtest report.
  • The EA is very easy to set up and use.

ForexExtract EA Strategy

The strategy used by this EA is not clear. But based on the info available in the sales pitch, several mechanisms are executed.

ForexExtract EA Myfxbook Account

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We can see that all these mechanisms work sequentially and automatically to protect your account from significant losses.

Breakdown

  • Type: Forex Robot
  • Pair: AUDUSD and USDCAD
  • Timeframe: H1
  • Price: $287

The developer offers this robot at a discounted price of $287. This gives access to a 1 lifetime license for a real or demo account, ability to change accounts online, both versions for MT4 and MT5, detailed user manual and the best technical support 24/7 and 30 days money back guarantee.

Backtest Report

We have the backtest results for ForexExtract AUDUSD (using aggressive settings), indicating that it carried out 911 trades using a deposit of $10000. Millions of profits were attained as a result, which is interesting. The ForexExtract was able to generate this profits across various market conditions. The win rates for short (64.17%) and long (57.23%) positions were average. The profit factor was 2.80, while the drawdown was 87.87%, suggesting that high-risk trading was used.

ForexExtract Backtest report

ForexExtract EA Result

At a glance, we can see that the system’s profitability in the live market is very close to that in the backtest period.

ForexExtract EA Myfxbook Account

Started in November 2021, the EA has earned the user $6,946.55 from a $1,500 deposit. So, the account’s overall growth rate currently stands at +463.10%.

Forexextract profit stat

From the profit factor of 2.58, it is evident that the robot makes large profits from orders. The win rate is considerably higher, as illustrated by the average win (43.04 pips) that exceeds the average loss (-39.06 pips) by 3.98 pips. To date, the EA has won 563.2 pips for the account.

Monthly Returns

The system produced desirable returns across all months in 2022, and it is ready to follow this trend coming this year. In effect, it added a significant amount to the user’s investment in January, March, April, July, September and December 2022.

ForexExtract uses a loss protection algorithm that has controlled drawdown to just 27.10% on a myfxbook account.

ForexExtract EA Review – Conclusion

ForexExtract is fully automated, user-friendly, and well vetted by experts. The EA uses a loss limiting mechanism, which controls drawdown and causes it to generate more wins than loss. So, it will likely produce a pleasant risk/reward ratio in your trading account.

>>Visit ForexExtract ea – Find out more<<

Forex Extract Expert Advisor

$287
7.3

Trading Result

8.5/10

Strategy

6.5/10

Website

7.0/10

Pricing

8.0/10

Transparency

6.5/10

Pros

  • Myfxbook result
  • Backtest report
  • Fair pricing
  • Recommended settings
  • Fair pricing
  • Low drawdown
  • Drawdown limitation
  • Experienced developer

Cons

  • Average win rate
  • No free trial

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