GerFX Review: Is It a Reliable System?

By ETFhead 26th January 20221041 views

GerFX is a Forex expert advisor that was launched in 2020. Sold on the MQL5 marketplace, this robot is compatible with both MT4 and MT5 trading platforms. It is a product brought to you by Paul Exler, who’s the CEO at Exler Consulting GmbH, which is a Germany-based company.

The team consists of German traders with more than 10 years of experience. Unfortunately, there is no background information on this company and the vendor has not shared the official address or any kind of contact information. Other products launched by this team include NightWalker EA, DeltaWave EA, Forex Cyborg, and Momentum Capture EA.

The recommended timeframe for this robot is M5. GerFX functions similarly to the QuantFlow Scalper system developed by the same team. The developer has optimized it in order to reduce the slippage. They have modified the entry logic to facilitate swifter calculations and to make exits via take-profit orders. According to the developer, this can lead to positive slippage.

You have the option of trading with a fixed or increasing lot size. For the second option, you have to decide by how much the lot size should be increased for each equityPerStep. You can also set the value of the equityHardStop. In case the equity sinks below this level, the EA will close the open position while desisting from opening new positions. For proper operation of the robot, you should run it on a VPS continuously without any interruption.

Trading strategies and currency pairs

This EA trades in pairs like EURUSD, GBPUSD, EURCHF, USDCHF, USDCAD, EURCAD, EURAUD, AUDUSD, AUDNZD, AUDCAD, and CHFJPY. You can also experiment with USDJPY, EURJPY, EURGBP, EURNZD, GBPAUD, NZDUSD, and NZDCAD.

This is a density scalper system that follows a mean reversion trading strategy during quiet trading hours. It avoids using risky strategies like grid or martingale. For each position, it uses a stop loss. When there is an unexpected news release or a rapid decline in the price of an asset, the EA might run into trouble, as stated by the vendor. Night scalping systems are reliant on broker conditions like slippage and spread. For high lot sizes, the conditions might not be favorable.

Backtesting results of GerFX on MQL5

For this backtest, the EA conducted 25808 trades. It had an excellent win rate of 84.02% and this allowed it to generate a substantial profit of 78292.9 pips. The daily and monthly average profits were $12.88 and $305.95, respectively. For the testing period, the EA had a low drawdown of 3.8%, which tells us that it was following a low-risk strategy.

GerFX trading statistics

Growth chart of GerFX on Myfxbook

This live trading account on Myfxbook has been active since 12th January 2021. To date, the EA has conducted 465 trades through this account, however, the total profit is only 46.81 Euros. It has a win rate of 77%, which is a bit low relative to the backtest. Here also, we can see that the drawdown is quite low at 2.78%.

The daily and monthly gains for this account are 0.07% and 2.29%, respectively. It has a healthy profit factor of 2.28 and a time-weighted return of 32.57%.

Trading results of GerFX on Myfxbook

From recent trading history, we can see that the EA has lost multiple consecutive trades. It trades with a fixed lot size of 0.01 and generates very small profits for each trade. The duration of each order varies from 1 second to 2 hours. While the average win is 3.83 pips/€0.23, the average loss is -3.70 pips/-€0.35.

Pricing and refund

GerFX carries a hefty price tag of $2000. This makes it highly expensive compared to other Forex EAs. There are multiple rental options for this robot. You can rent it for 1 month, 3 months, 6 months, and 1 year in exchange for $140, $370, $700, and $1250, respectively. The vendor offers a free demo version but there is no money-back guarantee.