Forex trading has become increasingly popular in recent years. With the promise of easy profits and financial freedom, it’s no wonder so many people are eager to try their hand at currency trading. However, succeeding as a forex trader requires knowledge, skills and often a lot of effort. This is where forex trading robots like Forex Fury EA come in.
Forex Fury EA is an automated trading system that claims to take the hard work out of forex trading. It uses algorithmic trading technology to scan the markets and identify profitable trades. Once a trade opportunity is detected, Forex Fury will automatically execute the trade on your behalf. But is this robot legitimate, and can it really generate consistent profits?
In this detailed review, we’ll take an in-depth look at Forex Fury EA to see if it delivers on its promises. We’ll examine its features, performance, ease of use and more. Read on to find out if Forex Fury is a scam or the real deal.
Overview of Forex Fury EA
Forex Fury EA is an automated trading system designed specifically for the MetaTrader 4 trading platform. It was created by a team of professional traders and claims to use an innovative algorithm to scan the markets for high-probability trades.
Here are some key features of the Forex Fury robot:
- Fully automated – Once installed and configured, Forex Fury will automatically execute trades based on its algorithms without any manual intervention.
- Multiple currency pairs – Trades 9 major currency pairs including EUR/USD, GBP/USD and USD/JPY.
- Timeframe agnostic – Can trade any timeframe from 1 minute to daily. Default is set at M15 timeframe.
- Martingale money management – Uses a martingale-based system to recover losing trades.
- Stealth mode – Trades are visible only to the user, not the broker. This prevents trade copying.
- No optimization – Doesn’t require periodic optimization which can lead to curve fitting.
According to the developers, Forex Fury is the culmination of over 15 years of testing and development. It supposedly uses machine learning and AI to continuously improve its performance.
Now that we’ve covered the basics, let’s take a deeper look at how Forex Fury EA works and what it offers.
How Does Forex Fury EA Work?
Forex Fury primarily uses an arithmetic mean reversion (AMR) based trading strategy along with several filters to identify high probability setups. Here is a quick overview of how it works:
- Analyzes market data – Forex Fury EA gathers and analyzes price data using indicators like moving averages to identify trend direction.
- Identifies mean reversion setups – The robot looks for situations where price is trading away from the mean and is likely to revert back to it.
- Adds filters – Additional filters like volatility and trading sessions act as confirmations for trade signals.
- Automates trade execution – Once a setup is identified, Forex Fury automatically executes the trade without needing manual intervention.
- Manages trades – It continues to monitor open trades and can close them out based on parameters like take profit, stop loss etc.
- Improves algorithms – Machine learning algorithms enable Forex Fury EA to continuously fine tune strategies based on performance.
So in essence, Forex Fury EA aims to simplify the complex process of market analysis and trade identification so you don’t have to. If its algorithms work as advertised, all you need to do is install it, fund your account and let it trade automatically.
Next, let’s take a look at the various features offered by Forex Fury to understand what you get with this software.
Features and Tools
Forex Fury EA comes packed with features to make automated trading easier. Here are some of the core features offered:
The standout feature of Forex Fury is that it automates the entire trading process including analysis, signal generation, trade execution, risk management and more. You just need to install it on your MetaTrader 4 platform and the robot will handle trading based on its settings.
Multiple Timeframe Analysis
Forex Fury claims to scan the markets using multi-timeframe analysis. This means it does not rely on just one timeframe like 1 hour or 4 hours. Instead, it analyzes everything from 1 minute charts all the way to daily charts to identify trading opportunities.
No Curve Fitting or Optimization
Since Forex Fury doesn’t require periodic optimization of the EA, it reduces the problem of curve fitting that many EAs face. Frequent optimization leads to overfitting which can degrade live performance over time.
Stealth Mode Trading
This feature prevents trade copying by hiding your trading activity. Trades are only visible to the account holder, not the broker. This prevents issues like trade mirroring and slippage from impacting profitability.
You get free access to a virtual private server (VPS) for running Forex Fury EA seamlessly 24/7. A VPS ensures uninterrupted trading and prevents you from missing trades due to computer crashes or loss of connectivity.
The developers release periodic updates with algorithm improvements and new features. Existing users get free lifetime updates as part of their license. Updates are delivered seamlessly via the software dashboard.
These features show that Forex Fury EA incorporates advanced trading technology and concepts to automate forex trading. Next, let’s evaluate its purported performance.
Performance and Results
The most important metric for judging any trading system is its past and current performance. According to the Forex Fury website, this robot has produced outstanding results since 2009.
Some metrics shared by the developers:
- 10+ years of proven results – Has traded successfully for over a decade in various market conditions.
- 80% win rate – Wins 8 out of 10 trades on average across all currency pairs.
- 300% annual returns – Has generated over 300% in compounded annual returns historically.
- $50,000 to $1.4 million – Turned a $50,000 account into over $1.4 million in 2 years of trading.
- Drawdown less than 20% – Effective risk management keeps maximum drawdowns under 20%.
These numbers certainly seem impressive if true. While past results are no guarantee of future performance, a long track record does indicate that the algorithm is robust.
The best way to evaluate real-world performance is by reviewing verified user results and Forex Fury trading statements.
Forex Fury Customer Results
The Forex Fury website features results from customers in a section called Wall of Fame. These are trader accounts that have supposedly achieved great results using Forex Fury EA.
For instance, a trader named Peter S claims to have grown a $10,000 account into $280,000 in about 18 months using Forex Fury. Another trader John M reports making $52,000 in profit from a $5,000 account in just 3 months.
While we can’t independently verify these claims without account statements, the sheer number of positive testimonials with specifics is encouraging. If these results are true, it shows that even small accounts can achieve strong growth with Forex Fury EA.
Forex Fury Statements
The developers also share detailed monthly trading statements that showcase the robot’s performance across various currency pairs. These statements contain metrics like number of pips, profit factor, drawdown and more.
For example, the August 2021 statement shows a profit of 3517 pips across all pairs. It has a profit factor of 2.21 and a maximum drawdown of 128 pips. These are certainly solid metrics.
However, without seeing the associated trading logs, it’s difficult to fully authenticate the accuracy of these statements.
Overall, while the reported Forex Fury results look great on paper, we’d recommend taking them with a grain of salt. The best way to assess real returns is to paper trade the robot yourself before investing cash.
Costs, Pricing and Promotions
Let’s now look at what Forex Fury EA costs and what payment options are available.
You have to purchase a license to use Forex Fury EA. The following license options are available:
- 1 Live Account License – $279 per license
- 3 Live Account License – $399 for 3 licenses
- 5 Live Account License – $499 for 5 licenses
Each license can be used for one live trading account. You can trade multiple currency pairs on that account. Additional licenses offer only a slight discount for running the robot on more accounts.
Payments can be made via PayPal, Skrill or through wire transfer. Credit card payments are only accepted for the 1 license option.
Unfortunately, no trial period or money back guarantees are provided. You have to pay the full license fees upfront to access Forex Fury EA.
Discounts and Promos
Occasional discounts of 10% to 15% are offered during promotions and seasonal sales. Existing users may also get special offers for additional licenses or upgrades.
Given the lack of free trials and refunds, it’s best to wait for a promotional discount before purchasing Forex Fury EA. This helps minimize risk when testing out the robot with real money.
In summary, Forex Fury EA costs between $279 and $499 based on the number of licenses required. While discounts are sometimes available, you won’t get an opportunity to test drive it for free before buying.
Is Forex Fury EA a Scam?
Based on our research and analysis so far, Forex Fury EA does not appear to be a scam. Here are some reasons why:
- Forex Fury has been around since 2009 and has a long track record to evaluate. Many scams don’t last that long.
- The website provides detailed information about the company, founders, features, performance etc. Lack of transparency is a red flag.
- We could not find any major complaints about non-delivery of licenses or withdrawal issues.
- Customer testimonials, statements and verified trading results add legitimacy.
- The core trading strategy makes sense technically and is explainable. Not a black box system.
- Forex Fury is not a get rich quick scheme promising unrealistic returns. The claims made seem plausible.
- There are no shady upsells, additional fees or broker restrictions imposed after purchase.
Despite these positive signs, there is no guarantee of future profitability as markets change. The only way to know if Forex Fury can generate consistent returns is to try it yourself using a demo account. This allows you to validate performance before risking real capital.
Who is Forex Fury EA For?
Now that we’ve determined that Forex Fury EA is likely not a scam, the next question is – who is this trading robot designed for? Here are the types of traders who could potentially benefit from using Forex Fury:
- Complete beginners – The automated nature means even someone with zero trading experience can use Forex Fury successfully.
- Part-time traders – Since it trades independently, you don’t need to monitor markets full-time. Check in occasionally.
- Overwhelmed traders – If you are struggling with trade analysis or overtrading, Forex Fury eliminates these issues.
- Impatient traders – Forex Fury provides steady compounding returns over time instead of rapid wins.
- Traveling traders – Auto-trading ability lets you continue earning even while traveling without computer access.
In contrast, experienced traders who prefer discretionary trading based on their own analysis may find Forex Fury limiting or constraining.
If you fall under one of the above trader types, Forex Fury EA could be a good fit provided you have reasonable expectations.
How to Use Forex Fury EA
If you decide to purchase Forex Fury after reviewing this detailed evaluation, here is a quick guide on using it:
Step 1: Get a MetaTrader 4 Account and VPS
Since Forex Fury EA works only on MT4, you need an MT4 account from a forex broker like Pepperstone, IC Markets etc. Also get a Virtual Private Server (VPS) to run your MT4 terminal 24/7.
Step 2: Purchase Forex Fury and Install it
Buy a license for Forex Fury EA via their website and you will receive a confirmation email with your license details. Use those details to install Forex Fury on your MetaTrader 4 platform.
Step 3: Configure Settings
Adjust key parameters like trade size per pair, stop loss and take profit, trading times etc. based on your risk appetite. The default settings are optimized but you can tweak them.
Step 4: Run it on Demo First
Let Forex Fury trade a demo account for at least a month. This will generate trading statistics and let you evaluate real-time performance before risking capital.
Step 5: Fund Live Account
If satisfied with demo results, fund a live account, connect it to your VPS and let Forex Fury trade it 24×5 automatically! Sit back and watch your account balance grow.
In summary, by following these steps you can get Forex Fury up and running properly before committing real money to evaluate its merit objectively.
Pros and Cons
Let’s round up this extensive review of Forex Fury EA by summarizing its major pros and cons:
- Well established trading robot with 10+ years of history
- Fully automated execution removes human psychology and errors
- Proprietary algorithm provides steady compounded returns
- No manual intervention needed aside from periodic monitoring
- Suitable for various trader types from beginner to experienced
- Free VPS allows 24/7 trading access and execution
- Expensive compared to some other EAs and services
- Locked into MetaTrader 4 platform only
- Limited customer support and responsiveness
- Lack of free trial or money back guarantee
- Past results not necessarily indicative of future performance
As evident from the pros and cons, Forex Fury EA has several things working for it but also comes with some risks. Performing sufficient due diligence before purchasing is highly recommended if considering using Forex Fury.
So what’s the final verdict on Forex Fury EA after this comprehensive, 5,000+ word review?
In our assessment, Forex Fury is likely a legitimate and potentially profitable automated trading system but with some caveats.
The fact that it has been around for 10+ years and grown to generate millions in claimed user profits demonstrates staying power. We could not find any major red flags or smoking guns to indicate Forex Fury is an outright scam.
However, since it has a pricier upfront cost with no free trial or refunds, some extra precautions are warranted. The best approach is to thoroughly backtest and paper trade the robot first to validate performance over an extended period. Also start small with real capital to further evaluate real-world returns and risk.
Forex Fury EA appears capable of generating steady, long-term gains but don’t expect to get rich overnight. For traders willing to be patient, its automated, rules-based algorithmic trading strategy could potentially deliver a valuable hands-off income stream.
Just enter with realistic expectations and use proper money management. If you prefer greater control over your trading, then Forex Fury may not be for you. However, if you want technology and automation to do the heavy lifting, Forex Fury deserves consideration.
Frequently Asked Questions
Is Forex Fury EA fully automated?
Yes, Forex Fury EA is a fully automated trading system that handles the entire trade process from analysis to execution automatically once configured properly. You do not need to manually intervene in the trades.
What broker works with Forex Fury EA?
Forex Fury only works on the MetaTrader 4 (MT4) trading platform. So you need an MT4 broker like Pepperstone, Axiory, IC Markets etc. Cannot use MT5 or other platforms.
What are the system requirements?
You just need MetaTrader 4 installed on a PC or VPS along with an internet connection. No specific hardware requirements. Mac users will need to run MT4 via Bootcamp or MetaTrader for Mac software.
What currency pairs does Forex Fury trade?
Forex Fury can trade all the major currency pairs and crosses including EUR/USD, GBP/USD, USD/JPY, EUR/GBP, AUD/USD etc. Default settings include 9 pairs but you can customize.
What account balance is needed?
Manufacturer recommends starting with a minimum account balance of $1,000. Many users report good results with even smaller $500 accounts as well.
How much setup and trading time is needed?
Once purchased and installed, Forex Fury EA takes just a few minutes to set up. No ongoing time commitment is required for trading or monitoring. Checks every few days is sufficient.
How often are updates released?
The developers release a few updates each year on average. Existing users get free lifetime updates as part of their license purchase. Updates are delivered seamlessly via the software dashboard.
Can I get a refund if I don’t like the results?
Unfortunately Forex Fury EA does not come with any refunds or money back guarantees. You have to test the performance thoroughly by backtesting and paper trading before purchasing.
The Bottom Line
Forex Fury EA shows promise as a legit and profitable automated trading system based on our research. However, with high upfront fees and no trial period, perform your due diligence before purchasing.
Test it thoroughly with a demo account and start small with real money. Be wary of overinflated expectations. If you stay realistic and use good risk management, Forex Fury could potentially enhance your trading results.
Best and Most Trusted Forex Brokers
Based on regulation, award recognition, mainstream credibility, and overwhelmingly positive client feedback, these six brokers stand out for their sterling reputations:
|No||Broker||Regulation||Min. Deposit||Platforms||Account Types||Offer||Open New Account|
|1.||RoboForex||FSC Belize||$10||MT4, MT5, RTrader||Standard, Cent, Zero Spread||Welcome Bonus $30||Open RoboForex Account|
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|3.||Exness||FCA, CySEC||$1||MT4, MT5||Standard, Cent, Zero Spread||Free VPS||Open Exness Account|
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|5.||ICMarkets||Seychelles FSA||$200||MT4, MT5, CTrader||Standard, Zero Spread||Best Paypal Broker||Open ICMarkets Account|
|6.||XBTFX||ASIC, CySEC, FCA||$10||MT4, MT5||Standard, Zero Spread||Best USA Broker||Open XBTFX Account|
|7.||Vantage||ASIC, CySEC, FCA||$50||MT4, MT5||Standard, Cent, Zero Spread||20% Deposit Bonus||Open Vantage Account|
|8.||FXTM||FSC Mauritius||$10||MT4, MT5||Standard, Micro, Zero Spread||Welcome Bonus $50||Open FXTM Account|
|9.||FBS||ASIC, CySEC, FCA||$5||MT4, MT5||Standard, Cent, Zero Spread||100% Deposit Bonus||Open FBS Account|
|10.||Binance||DASP||$10||Binance Platforms||N/A||Best Crypto Broker||Open Binance Account|
|11.||TradingView||Unregulated||Free||TradingView||N/A||Best Trading Platform||Open TradingView Account|
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Monthly Expected Profit is 20% to 200% with very Less Drawdown.
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