Forex Combo System Review: Things to Consider Before Investing

Forex Combo System is an FX Robot that uses multiple strategies for ensuring maximum returns. The vendor boasts 10 years of proven profits. This FX EA is completely automated to provide consistent and systematic profits over the long term. 

FxAutomater is the company developing and promoting this ATS. The company is made of a team of professional traders with over 15 years of experience in trading and 10 years of experience in creating automated systems. Over 30 FX robots have been developed by the company. 

The vendor does not give details on the individual members, their skills, and other info. There is no location address or phone number present for contact. The insufficient vendor info raises suspicion on the reliability of the ATS.

The highlights of Forex Combo System

Here are some features that according to the developer set this FX EA apart in the market:

Money management

The FX robot uses highly successful money management settings. You can customize the settings based on your specific risk profile.

Stop loss protection

A special algorithm is used on the exit positions to avoid activation of SL prematurely. You can use this algorithm to close positions and manage your losses provided the existing price is favorable.

Market scan

The FX Robot is set up to automatically scan the market for lucrative opportunities. It does not open positions in volatile conditions where price changes are erratic. This helps to prevent losses due to slippage.

While the vendor’s assurances of high returns and low risk look appealing, the demo trading result indicates the EA uses a risky approach. Further, there are other aspects of the system that make us suspicious of the reliability of the system.

Trading strategy of Forex Combo System

As per the vendor, this ATS uses a comprehensive approach by combining four different approaches. Scalping is one of the approaches that help the ATS to analyze the trend and ensure effective trades. Using the trend detection approach helps to accurately confirm the trend. The third method used is the market correction strategy that helps to profit from trend reversal. Using the range detection method, the FX robot identifies a non-trending market and makes the necessary adaptations to ensure profits.

Backtesting reports

A few backtests are present on the official site. One of the backtests done on the EURUSD pair using the M5 timeframe from 2007 to 2018 is shown above. From the report, we can see an initial deposit of $1000 had generated a net profit of 33307.20. For a total of 902 trades, the profitability was 79.71% and the profit factor was 1.64. The maximum drawdown for the account was 57.74. From the low profits and high drawdown, it is clear that a risky approach and poor performance were present.

Trading results in real time

A demo USD account is provided by the vendor verified by the myfxbook site. The account uses the IC Markets broker and the leverage of 1:500 on the MT4 platform. 

From the above trading stats, we can see that the EA has generated a total profit of 48.38% and an absolute profit of 64.37%. A daily profit of 0.03% and a monthly profit of 0.99% are present for the account. The drawdown is 8.08%. For a deposit of $1000, a total of 394 trades were executed with a profitability of 53% and a profit factor of 1.40. A lot size of 0.03 is used which is big for the deposit used and denotes a high-risk approach. 

Forex Combo System price

The original price of this FX EA is $237. A 40% discount is offered as part of the Christmas Sale that reduces the price to $147. An unlimited number of demo accounts, a real account, and four trading systems in a single package are the features the vendor provides. A 60-day money-back guarantee is present for the robot.

Customer support

An online contact form is provided for support besides an FAQ section. We find the support is inadequate. It raises doubts about the trustworthiness of the system.

Are traders happy with Forex Combo System?

We found 5 reviews for this robot on the FPA site with a rating of 2.042/5. Here are a few of the reviews:

From the feedback, it is clear that the system has a very poor performance resulting in big losses.