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FX Rapid EA Review: Is It a Scam?

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FX Rapid EA

FX Rapid EA is a Forex-related trading solution that has a cheetah as a totem creature. The developers claimed that this is a powered Forex Store trading solution. There’s no motto or something like this.

The presentation includes several blocks with the intel about what we have to expect from using this system. We systemized them in a short list.

  • We can expect automatic trading from the system.
  • No may do nothing in addition.
  • The system focuses on trading trends.
  • It opens orders only in a direction of the trend.
  • There’s a Grid of orders as a support strategy applied.
  • We can trade with a Martingale strategy if we are ready to handle this risk.
  • The trade length is extended and can last several days.
  • It uses short TP levels.
  • We have a drawdown control on the board.
  • The lot sizes will be calculated automatically based on the risks we can bear.
  • The advisor isn’t sewed to any broker.
  • It follows NFA and FIFO rules.
  • A Grid of orders strategy doesn’t work with FIFO.
  • If an open deal goes against the trend it closes this deal.
  • The installation process takes several minutes.

Trading strategies and currency pairs

  • It uses three strategies where Trend is the main one.
  • The minimal deposit should be $500.
  • The DUE  version works with two pairs: EUR/USD, NZD/USD.
  • The QUATTRO trades four pairs: EUR/USD, NZD/USD, AUD/USD, and USD/JPY.
  • A time frame should be H1 if a trading length is several days.

FX Rapid EA trading statistics

FX Rapid EA backtest report

FX Rapid EA backtest report

There are some backtest reports shown. We have an AUDUSD backtest on the H1 time frame. The data period was chosen from 2017 to 2020. The modeling quality was 90% with 3-pip spreads. An initial deposit was $5,000 that has turned into $30,214,711 of the profit. The profit factor was 2.44. The maximum drawdown was 49.81%. It’s quite a high number for a test. There were 889 orders with 61% of accuracy for shorts and 56% for longs executed.

FX Rapid EA trading results

FX Rapid EA trading results

We have real third-party verified trading results shared. The advisor has been running a real FXOpen-hosted account with no leverage on MT4 automatically. The account has a verified track record and verified trading privileges. It was created on July 31, 2020, and deposited at $2000. The absolute gain has become 1661.91%. An average monthly gain is 20.14%. The maximum drawdown is sky-high – 66.88%.

FX Rapid EA statistics

FX Rapid EA statistics

There were 856 deals with 169.6 pips traded. An average win is 33.98 pips when an average loss is -42.93 pips. The accuracy rate is 53% and is 58% for short and long riding positions. The number of gained pips is insanely low.

FX Rapid EA directions

FX Rapid EA directions

AUDUSD is the most traded symbol with 429 deals and $19,809 of the profits. USDJPY lost 1779.9 of pips.

FX Rapid EA risks

FX Rapid EA risks

The system trades with insanely high risks to the account balance. There’s a 10.24% chance of losing 10% of the account balance.

FX Rapid EA closed orders

FX Rapid EA closed orders

We may note that some Grids of orders were closed in loss.

FX Rapid EA monthly profits

FX Rapid EA monthly profits

The profitability has been going down since May 2021.

Pricing and refund

FX Rapid EA pricing details

FX Rapid EA pricing details

The devs provide us with two packages: DUE and QUATTRO. The DUE pack costs $269. There’s two symbols trading. The QUATTRO pack costs $349. We can open orders on four symbols. We can rely on a lifetime license for a single account, free lifetime upgrades, and welcome 24/7 support. We can enjoy a 30-day refund policy.

What else you should know about FX Rapid EA

The system hasn’t almost gained pips. All its profits are based on Martingale and Grid approaches. It’s insanely risky.

People feedback

FX Rapid EA’s page on FPA

FX Rapid EA’s page on FPA

There’s a page of the company on Forex Peace Army with no rate or testimonials. It’s a bit suspicious.

FX Rapid EA Conclusion

4.3

FX Rapid EA is a trading solution that opens Grids of orders based on a trend strategy. Alas, it can’t provide precise entry points. The system survives only because of Martingale. It’s just a matter of time when it falls.

  • Price - 4/10
  • Strategy - 5/10
  • Trading Results - 7/10
  • Vendor Transparency - 2/10
  • Customer Reviews - 2/10
  • Support - 6/10

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