Forex Fury claims to provide a 93% winning rate for traders of any skill level. The vendor promises that it offers lucrative opportunities that are aggressive and safe. The company has been in service for 6 years and expanded its team in 2021. Developers, analysts, and support staff constitute the team at Forex Fury which is headed by Patrick Ryan.
Other team members include Joe Damien and Hossein Nouri, who are the head analyst and the developer respectively. Ryan is known for his FX robot and other service reviews. We could not find the location address or phone contact for the company. Other than an online contact form there are no other support methods available.
According to the developer team, the features of this EA include proven SET files, ECN support, money management, the capability of trading any currency pair, cryptocurrency, and indices, and compatibility with MT4/MT5 platforms.
Multiple filters are added to prevent the impact of the bad market situation and the system uses strategies of low, medium, and high-risk types. The installation is easy and the vendor provides a full instruction manual and videos for setting it up. This FX Robot is FIFO and NFA compliant and also compatible with MT4 and MT5.
Trading Strategies and Currency Pairs
There is no mention of the strategy used. Instead, the developer explains that the EA uses time restriction properties which helps to minimize losses. The opening time of trades is from 4 pm to 5 pm EST which is the time when volatility is low in the market and the EA uses scalping to amass easy wins. The vendor provides a 15 year backtest with a gain of 466725.08%, a drawdown of 6.98%, and 103692.5 pips. There is no strategy tester report which makes it difficult to know more about the backtest details.
Forex Fury Trading Statistics
Many verified trading accounts are present for this FX EA. Here is a real USD account trading the GBPUSD pair using a low-risk approach. FXOpen broker is used on the MT4 platform for the account.
From the above images, we can see a total profit of 85.22% and an absolute profit of 72.46%. For deposits of $30,000, the account has managed to accumulate a balance of $43,737.63 trading from October 2017 up to May 2021.
A drawdown of 41.90% is shown for the account, which is very high for a low-risk trading account. The total number of trades is 418 with 100% profitability and a profit factor value of 9058.35. A lot size of 1 is used for the trades. The high profit factor and high drawdown indicate the strategy is a risky one.
Pricing and Refund
Two packages are present for this FX robot. The popular package according to the vendor is the gold package that costs $229.99 and includes a single account license. With the second package, which is named Diamond, two live accounts are available and costs $439.99.
Other features that are common to both packages include an unlimited number of demo accounts, settings that ensure high performance, lifetime membership, and free updates. While the Gold package price looks affordable, the Diamond package is expensive and not worth the money. No money-back-guarantee is offered which makes us suspect the reliability of the ATS.
What Else You Should Know about Forex Fury
We found 140 reviews for this FX EA on the Forexpeacearmy site with a rating of 2.786/5. At the outset, we see a notification that indicates multiple fake and suspicious reviews have been posted. Here are some of feedback from users:
From the above reviews, we can see that the system is not easy to use and the support was not responsive. One user reports that the default settings did not produce the guaranteed profits.