Extreme Forex wants to help you rise above Forex mediocrity and take advantage of trading algorithms. It promises to bring you money by leveraging the secrets of the most powerful profit-making algorithm in the world. Apparently, the devs are referring to volume scalping, which they believe can trade the XAUUSD currency pair effectively. Our review will divulge more details about this strategy and the other features the robot is offering.
Extreme Forex: to trust or not to trust?
We have learned that the robot was profitable for a few days when it traded in a live account on Myfxbook. However, its performance deteriorated soon after, because of the grid strategy.
The EA has the following features:
- The robot trades on the MT4 terminal, but you can run it on the MT5 platform by hosting it on the free service.
- It works on the M5 timeframe, but M15 is the recommended time frame.
- The supported currency pair is XAUUSD.
- It’s fully automated.
- A minimum deposit of $100 is okay for cent accounts, but a standard account requires $500 as minimum capital.
- Full customer support is provided.
- Not affected by slippage, spread, or other broker-related variables.
- It runs on VPS.
- It is self-diagnostic and supports auto GMT detection.
There are two pricing options for this robot, namely Power and Super Power. The former plan costs $99 monthly, while the latter one takes 25% of the profits you earn. Both packages support automatic trading with the XAUUSD currency pair, and feature a 14-day refund policy, and email support.
The Power plan has a minimum deposit requirement of $50, 80-90% monthly profit potential, a 27% short-term drawdown projection, and 120-150 expected trade volume. For the Super Power option, the minimum deposit is $1000, with an expected trading volume of 230-300, a projected short-term drawdown of 15%, free VPS hosting, and 60-75% monthly profit potential. A fee equivalent to 0.0034 BTC is paid every month regardless of the package you use.
Extreme Forex is a smart scalper. It uses smart entry/exit algorithms with refined filtering techniques to spot the safest points of entry. The EA conducts three transactions at once so as to diversify trade entries and exits in the market. What’s more, a take profit and a stop loss are attached to every order to maximize your earnings and mitigate losses, respectively. Neither grid nor hedge strategies are used.
Backtest results are missing. Therefore, we are unable to determine the workability of the EA’s strategy under past market conditions.
The link to the EA’s live trading stats on Myfxbook is available on the official website. So, let’s have a look at the data in this section.
The EA operated this real cent account for a few days. As we look at the growth chart, it is clear that the deals placed brought in profits continuously from the first to the third day of June. After that, profits declined sharply, possibly forcing the user to deactivate the bot.
According to the other stats, the system used a USC5000 deposit to generate a profit of USC561.50, growing the account by 11.23%.
There were 51 completed trades with a profit factor of 2.10. The robot made some bad moves as only 28% of the short positions were successful. On the bright side, the long positions attained an excellent win rate of 90%. The traded lots are 5.10, whereas the pips won are 5615. Chances of making a win than a loss are higher, as demonstrated by an average win of 325.45 pips and an average loss of -284.72 pips.
Trades conducted between 5am and 7am were unsuccessful. The robot didn’t make any profits between 11am and 12pm either.
The EA made huge losses on June 6. This can be attributed to the grid strategy implemented. The large lot sizes used also heightened trading risks.
The robot placed more buy orders compared to sell orders.
The drawdown is low at 4.37%, meaning that a large portion of the capital was not harmed.
This robot has zero vendor transparency. We are not given any info about the developers, such as their names, the roles they play, their location, expertise level, etc. So, it is hard for us to determine their reputation or even identify their other EAs, if there are any.
There are no credible user reviews for this system on reputable sites like Quora, Myfxbook, Forex Peace Army, or Trustpilot.