FXEurGrid is a forex trading robot that specializes on trading EURUSD on any time frame. It works based on the feared Grid strategy. There is no special thing about this robot rather than an impressive result on a low budget account.
The owner of FXEurGrid EA does not provide information concerning their name, company or whereabouts. But we can see that they are providing links to their myfxbook cent account. We are not really into results on cent account because for one, it is not a standard account. For that reason, it means the money they want clients to pay is more than what the developer could invest. On the positive side, we see that indeed the accounts are real which simply means that the vendor is working hard to prove a point. They want us to know that they are putting their mouths where their money is.
We would like to meet them with the same faith but unfortunately, there are a few concerns which the vendor must deal with first before we can even consider the thought of including this robot into our Forex trading tools. Right now, we are not sure whether this is the right move. But at the end of the day, you will definitely make up your mind regarding FXEurGrid EA. Here you may find more details about their offer.
This isn’t the first time we are dealing with a situation where we find ourselves reviewing a product from a developer who does not talk about their trading or development experience which traders may consider pertinent. Therefore, we strongly believe that the developer of FXEurGrid should aspire to provide us with additional information concerning their background since it is important that traders should trust them based on who they are and what they have done in the past.
They tell us that when we purchase a copy of the FXEurGrid EA, we should expect a monthly profit of between 10-15% with a maximum drawdown of 20%. This is quite a realistic goal as there are many Forex traders who have consistently generated more. These returns are not exaggerated but we also need proof to determine whether their word can be trusted. They also tell us that this robot works well with a minimum $3000 account. The robot does not require any human intervention because it is 100% automatic. It is being sold for $22o for a full license and it also comes with 24/7 friendly support. There are 3 different plans/mode under which this robot can be used. But for now, let us focus on the workings of the robot to see whether it can be trusted and whether the strategy can be considered as viable.
The FXEurGrid works with the grid trading strategy. There is a strong evidence now that the grid automated trading strategy is a very risky strategy and have made so many accounts go red in the past. The developer has tried to back their claims with a myfxbook cent accounts to prove us wrong and at this point, we are wondering why they never thought this robot will not sell if they showed us their myfxbook standard account. In describing their robot, the vendor has this information for us to ponder on: This EA is programmed to build a grid and uses a ‘drawdown limitation technology’ to reduce the risk. Unlike most grid systems, it uses any timeframe and trades on only the EURUSD. The minimum account size is $3000. There are no stop stop loss and the lot size varies.
Based on this strategy, we see that accounts that are under $3000 cannot be used with this robot. Also there are no stop loss to safeguard trades, which makes this system more risky. This is not a professional way of trading. However, keep in mind that grid systems are just not as reliable. We will scrutinize their performance results to see whether this robot is an exception.
Can we trust their result
Their result is showing a myfxbook cent account on Exness, but this robot cost $220. They want to prove to us that their system works but they are charging more money for the robot than what the actually invested. Nevertheless, here is more details about their result.
Total returns or profits for this account is over 88%. Monthly gain is 8% which is according to the vendor’s projection with regards to the amount that we could be making with the robot every month. These results are impressive overall. For that reason, our interest is in finding out whether other people are using the robot and reporting the same results. It can sometimes be hard to replicate the trading results of a vendor because markets do change and their settings can also be different from those of their clients. There is also the issue of brokers who are simply providing poor trading environment.
Any client review
We are afraid that these cannot be found anywhere on the internet. We could not see a genuine review or testimonial showing that this grid system is profitable as they claim. What it means is that we are not so sure whether these result can be trusted.
Review Verdict – FXEurGrid is a scam
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Now, we cannot just assume that this is a profitable robot without seeing a strong risk control mechanism. Having said this, we still believe that you can trade forex profitably using proper trading tools. We have done our research and found that these tools are the most reliable tools for trading forex.
FXEurGrid Review Conclusion
FXEurGrid has failed to prove to us that our trades are indeed safe with them. The EA works based on grid and their are no stop loss put in place to safeguard trades. Hence we cannot just assume that this is a profitable robot without seeing proof of professional trading. There must be a genuine risk management. Having said this, we still believe that you can trade Forex profitably using proper trading tools. We have done our research and found that these forex robots are the most reliable tools for trading.