Red Fox EA Review: Is It a Scam?

Red Fox EA is an expert advisor that was designed by Sinry Advice and published under the My EA Academy brand. It should help us to work on Forex. The devs claimed that “Red Fox EA is able to analyze technical and fundamental data.”

We have some details explained. The rest we had to come up with. For your comfort, we have united everything in the list:

The system allows us to work with a market automatically.
An advisor traded with low drawdowns.
There are aggressive settings applied which can be turned on or off.
The low-drawdown trading allows us to get 10-28% of the monthly profit.
The aggressive settings allow us to get much more – from 17% to 48%.
The system works with automatic lot size calculation.
We have a news filter applied to trade only during proper hours.
It doesn’t work with Martingale.
There’s a “speed control feature.”
We are allowed to work with one real and one demo account.
It works with a market reversal strategy.
It should be used on the MT4 terminal only.
The deposit must have at least $1000 to let the advisor run smoothly.
“The Low Drawdown pairs: EURCAD, EURUSD, GBPUSD, GBPCAD, USDCAD.”
“The Aggressive pairs: AUDUSD, EURAUD, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPNZD, GBPUSD, USDCAD.”
We have to give the system a try on a demo account first.
Another advisor or trader is not allowed to trade on the account.
It runs the charts 24/7.
The account type should be ECN. The leverage can be 1:500.
The developers want us to work on the OpoForex broker.

Trading strategies and currency pairs

Market reversal is the main strategy.
We are allowed to trade nine cross pairs.
The devs don’t share with us details about the time frame.

The system doesn’t have backtest reports at all. We have no idea if the advisor was tested properly before release. We don’t know what we should expect from it when we will be trading on a demo or real account.

Red Fox EA trading statistics

Red Fox EA trading results

Trading results that are verified by Myfxbook or FXBlue are another important part of understanding if the system fits our expectations. The system works on the real account on the suggested broker automatically. The leverage is 1:500. We can use it, trading on MT4. The account has a verified track and verified trading privileges. The account was deployed on May 17, 2021, and deposited at $1,000. Since then, the absolute gain has become 29.32%. An average monthly gain is 6.92%. The maximum drawdown is 38.55%. It’s so risky. We have noted that the system stops trading for no reason. The reason can be that there are several deals floating on the market in deep drawdowns.

Trading statistics of the robot

The advisor has traded 606 orders with 3849.2 pips executed. An average win is 14.63 pips when an average loss is almost twice deeper, -22.27 pips. The accuracy rate for Longs is 76% and 78% for Shorts. An average trade length is 18 hours 33 minutes. The profit factor is 2.06.

Cross pairs the robot trades on

There’s USDCAD as the most traded pair with 176 orders. Most of the profits were obtained on EURUSD ($97.35).

Hourly activity of the robot

The system works with the market mostly during the end of the Asian and during the European trading sessions.

Red Fox EA daily activities

Thursday is the less traded day, and it’s not typical because it should be the most traded.

Red Fox EA risks

The system works with low risks to the balance.

Closed orders by the robot

The advisor uses a trailing feature to make more profits fixing on already gained pips.

Monthly profits of Red Fox EA

Trading results obtained in September 2021 were the worst ones.

Pricing and refund

Price of the robot

We are allowed to buy the robot for $266. The original price was $400, and it was fake. The system has never cost that much. The pack includes a single real account license, an implored number of demo accounts, support, updates with upgrades, and a 14-day refund policy.