FX Rapid EA is a new Forex robot developed by the Forexstore group. The obvious elements of this Forex robot is that it trades rapidly and does not trade against the trend. The EA is compatible with any brokerage and the makers claim that it is highly profitable.
Many aspects of this trading robot are not clear. Besides the developer being anonymous, they don’t have a proper strategy and their FX Rapid EA has a drawdown percentage of >50%. This means that the FX Rapid EA strategy is not infallible. You should read our review to find out or simply get a proper Forex robot from this page.
FX Rapid EA Review
The first impression of their website is not all that positive as their presentation is pretty basic and contains repetitive words. Of course it’s a Forex robot with 100% automated capabilities.
Timeframe have never been disclosed but pricing of licenses start at $269 all the way to $349. We’d love to reiterate that if you have $149 to spend, you can get a very good Forex robot on this page.
FX Rapid EA is optimized for trading 4 currency pairs only. Minimum deposit requirement is $460.
For $269, traders can gain access to the FXRapid EA Due license that trades only on two Forex pairs – EURUSD and NZDUSD. And of course for $349, you can get the FXRapidEA Quattro to have access to 4 currency pairs – EURUSD, NZDUSD, AUDUSD and USDJPY.
To achieve the level of competition that these products have set, FX Rapid EA developer needs to seriously think about what they can tell potential customers as their sales pitch is completely basic.
FX Rapid EA Strategy
The EA is designed for Trend Trading and closes trades that are against the trend. The EA uses a special algorithm to determine a trend and opens more trades along the trend.
Also, they stated that the EA trades rapidly. This means that the EA trades on short term strategy and avoids very wide takeprofit level.
All these FX Rapid EA strategy explanation appears basic and something you can do for yourself if you devote a little more time to trading.
FX Rapid EA Result
The major FXRapidEA Quattro myfxbook account shows that the software has allegedly gained over 1003% since its launch 3rd December, 2019.
Risk reward ratio is normal while average win is 33.14 pips. Currently, the drawdown percentage is 40.74% which statistically means that some time ago this software had 40.74% of its equity in negative balance.
These stats are determined based on a total of 255 trades that the FX Rapid EA has been trading since December last year.
So this could also provide us with some clue regarding the trading strategy of this developer.
It simply means the software is taking some kind of high risk and reward which is not healthy for a trading account.
We have not found any positive reviews or legitimate endorsements regarding FX Rapid EA.
They have certainly done a good job providing their trading statistics.
However, this is simply not enough. We need them to be clear on certain aspects of their trading before we can even recommend their product. Also, since it is barely 5 months the EA was launched, we would like to see how it really performs in a couple of months to come.