Forex Enigma Review: Is It a Scam?

By ETFhead 15th November 20212465 views

Forex Enigma is a trading solution with a simple and not informative presentation. It doesn’t have any claim about how great this system is and how we should be inspired to work with this system. We have no intel about their year of foundation. The developers provide no other products, alas. Forex Enigma is the only one in their portfolio.

It was a challenge for us to gather intel about how the advisor is going to work on our account. For your comfort, we united features, settings, and other explanations in the list.

The system works completely automatically for us on our MT4 account.
Main strategies to work with are Scalp, Trend, and Grid.
There’s a news filter applied. It allows us to decide what hours we’d like to trade and which ones wouldn’t.
The only time frame to start trading is H1.
We are free to work with any broker that we want.
There are some “market leader innovations” applied.
We can expect to get stable profits.
Our balance should be over $1000.
The leverage can be 1:100.

Trading strategies and currency pairs

The system works with Scalping, Trend, and Grid of orders strategies.
We can trade the following pairs EURCHF, USDCAD, AUDCAD, AUDUSD, EURUSD, GBPUSD, and EURGBP.

Forex Enigma backtest report

We have a EURCHF backtest on the H1 time frame based on 2020-2021 tick data. As a result, the modeling quality was 99.90% with variable spreads. An initial deposit was set at $1000 that has become $313.95. The profit factor was 2.42. It’s a good one for backtests. The maximum drawdown was 16.90%. Forex Enigma traded 493 orders. The win rate was 75% for short and 80% for long.

Forex Enigma trading statistics

Forex Enigma trading results

We can find trading results on the presentation. It’s a good advantage because we can check them. The advisor works on a real account. We don’t know what broker it was. The current balance is $1301.34. The floating loss is -$581.26. So, the margin level is low, 644.8%

Forex Enigma statistics

The total return has become 30.1% when the monthly return is 4.7%. The win rate is 73.8%. The profit factor is 1.75. It’s a common number for a paid advisor. An average trade frequency is one trade daily. The robot has been working for 168 days on the real USD account.

Forex Enigma risks

The risk to reward ratio is 4.43. An average trade length is 6.3 days. The risk of ruins is 0.0%. An average result is $1.88. An average win is $5.94 when an average loss is -$9.52.

Forex Enigma directions

We have a Buy direction that is traded quite more frequently than a sell direction.

Forex Enigma magic number

The system works with a single magic number.

Forex Enigma weekly activities

Thursday with 41 orders is the most traded day. It provides most of the profits, $106.51.

Forex Enigma daily activities

Forex Enigma opens most orders within the European trading session.

Forex Enigma monthly activities

The advisor trades with unpredictable frequency from month to month.

Forex Enigma closed orders

We may note that it uses a Grid of orders to close it in a profit, utilizing market moves.

Pricing and refund

Forex Enigma package

Forex Enigma pricing

We have three packs on the board that are called: Basic, Standard, and Professional. The basic pack can be purchased for $149 for one license for a real account. The standard pack is available for $199 for two real account licenses. The ultimate pack is the most expensive, $249 for three licenses. All packages have in common: an unlimited number of demo accounts, automated trading, updates, and upgrades. We can rely on 30-day refunds.

What else you should know about Forex Enigma

The system has no testimonials. It’s hard to trust it without reading people’s experience about if the system works that well on their account. As well, we don’t know anything about the developers.