Forex FundsForex Robots

Fly Higher Nova Review: Is it a Reliable System?

0
Fly Higher Nova

Developers allege that the Fly Higher Nova is the EA of the future. They invite traders to join the alleged 5,000+ other users in trading with the robot. In doing so, they will increase their riches within the shortest period possible. The vendor further claims that the EA is capable of producing up to 20% profits weekly.

The EA belongs to the Fly Higher Nova (Pvt) Ltd. The company’s address provided in the EA’s official website, indicates that the firm is situated in Sri Lanka. An individual by the name Shehan is the major developer. However, no more details about him are provided. As a result, we could not determine his credentials or his repute in Forex trading. Therefore, we cannot trust him, and consequently, the EA he has created.

Fly Higher Nova executes trade automatically on the user’s account. It runs inside the Forex terminal, but we do not know which one since the vendor has not given out this information. In order to begin applying the software, a trader needs to select a subscription pack of their choice. After that, the needed information is sent through email plus the payment link. A trader can then use a video tutorial or manual to operate the bot.

The features of the robot are highlighted below:

  • It offers 24hrs customer support
  • Trades on multiple currency pairs
  • Easy to set up and use
  • Installation support is offered
  • Mobile support is provided
  • Automated SL and TP mechanism present
  • Easy to set up

Trading Strategies and Currency Pairs

Fly Higher Nova trades on EURGBP, EURJPY, GBPCHF and USDJPY currency pairs.

According to the vendor, the robot’s strategy entails trend following. It utilizes advanced computations, opens and manages Forex trades and simultaneously sets stop loss and take profit. The EA may decide the lot size on the basis of the user’s capital or let the trader utilize the fixed trade size they want.

The explanation provided for the strategy is too vague. This is rather disappointing. We cannot really tell which indicators to look out for during trading.

The vendor has failed to provide the backtesting results. Backtesting data helps us determine an EA’s performance in the long-term. Since it is lacking, we are left to guess the profitability rate of this system. It would thus be risky to invest in this account.

Fly Higher Nova Trading Statistics

Live trading results are absent. This is somewhat surprising. Trading statistics are essential as they assist the trader to assess how an EA really performs in the live market. They then use the performance results to decide whether to purchase it or not. Failure to present such data denies the trader the chance to make decisions that are informed.

Pricing and Refund

Fly Higher Nova has two distinct subscription plans; 12 months and lifetime offers which cost $320 and $500 in that order. Both plans feature free updates, a video tutorial and a manual.

The EA’s refund policy is quite strict. If a customer is dissatisfied with the bot’s performance, they are required to forward an appeal to be refunded within 1 day of the date the robot was available for download. This policy is unfair because it is difficult to determine the performance of the software within just 24 hours. We also believe that the cost of the robot is quite pricey compared with prices of other EAs. For that reason, it is not worth the trader’s money.

What Else You Should Know About Fly Higher Nova

Fly Higher Nova EA user testimonials on third party review websites like Trustpilot, Forex Peace Army, and Quora are lacking. However, the vendor has highlighted some screenshots of Telegram messages where traders acclaim the EA’s performance for generating huge profits for them. However, we think these reviews are not genuine as they have not been verified on the above mentioned reputable third-party sites.

Some of the screenshots from telegram are provided below:

Telegram messages Telegram messages

Fly Higher Nova Conclusion

3.5

We strongly advise traders against investing in this robot. A lot of significant information is missing. Vendor transparency, backtest results, and live trading results are all lacking. Therefore, there is no way of knowing if it can make profits for the user. Furthermore, the available customer reviews seem fake. Overall, Fly Higher Nova looks like a big scam.

  • Price-4/10
  • Strategy-4/10
  • Trading Results-2/10
  • Vendor transparency-5/10
  • Customer Reviews-2/10
  • Support-4/10

    AX Trader Review: Is It a Scam?

    Previous article

    You may also like

    Comments

    Leave a reply

    Your email address will not be published. Required fields are marked *

    More in Forex Funds