This review analyses the Red Fox EA that comes with a poor presentation and risky trading strategy. Trading account is new and proves a risky trading method.
Red Fox EA Review
Red Fox EA is a Forex robot that claims a low drawdown and steady growth in profits. It has both a low drawdown and aggressive setting which users can select from.
The strategy that the EA works on is based on market reverse price using internal custom indicators in order to analyze the market.
The system costs as high as $266. This is far above the market price for expert advisors in this category. Also, there are no license options provided.
Red Fox is compatible with all brokers. It is important that the broker has low fees, low swap as well as a high-speed server
The presentation includes details, settings, and feature explanations. The question is whether Red Fox EA is a legit robot that you can trust.
EA Breakdown
- MT4 Forex robot
- Works on multiple currency pairs
- Uses Fixed lot size
- Multiple time frame
- Optional risk settings
- Costs $266 per license
Red Fox EA Results
Red Fox EA currently has 3 live accounts on myfxbook.com. However, it seems that the robot is not performing well at the moment. These trading accounts are less than a month old but the EA has managed to accumulate unacceptable drawdown.
The Red Fox EA preset 1 result has a total gain of +2.21%. The drawdown is 2.26% just within the month.
The Preset 2 strategy has a total gain of +7.75% with a high drawdown of 16.78%.
The Preset 3 strategy result shows a drawdown of 16.50% with a total gain of just +4.96% so far.
These accounts depict trading history within the month of November 2021, where the system accumulated several losses that deter profitability.
Should someone trust Red Fox EA?
There is no way we can trust this robot at the moment. The vendor lies to us about its profitability potential and the risks involved in trading.
Our review found that the EA doesn’t make profits at all and generates drawdowns that exceed total gain.
The robot strategy tends to complete multiple trades within a day using a fixed lot size. This can potentially be profitable. However, it is very unfortunate that this approach is doing bad rather than good for their accounts.
Conclusion
We don’t need to tell you that Red Fox EA is a risky investment option. The robot’s poor trading performance on myfxbook.com speaks volumes. We don’t recommend it at the moment.
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Red Fox Expert Advisor
$266
Pros
- myfxbook result
- Installation guide
Cons
- Poor strategy insight
- Unacceptable drawdown
- Not profitable
- Few result samples
- High price