Forex Fury Review: Things to Consider Before Investing

Forex Fury

Forex Fury is a robot that claims to have a 93% win percentage record on Myfxbook. It works with both Metatrader 4 and 5 and according to the vendor, it improves itself on a periodic basis. Of course, there are many vendors making claims like these, so we need to thoroughly analyze the system to see whether it is truly reliable or not.

We don’t have adequate information on the parent company, so we don’t know anything about their service history or year of foundation. The team consists of CEO Patrick Ryan, Head Analyst Joe Damien, and Head Developer Hossein Nouri. It is unknown whether these people have the required expertise and technical know-how to work on an automated trading platform. Also, we don’t know if this company has built other robots in the past.

The highlights of Forex Fury

According to the vendor, these are the main features of this Forex EA:

Money management 

Forex Fury has a money management functionality that allows for the modification of the trading lots as per the level of risk and the market condition. The vendor does not explain this feature clearly, which is disappointing.

Low, medium & high risk strategies

This robot has three risk levels, namely low, medium, and high. The vendor has a separate trading account for the conservative strategy. However, we don’t exactly know how these strategies differ from each other.

Works with all MT4 and MT5 brokers

The vendor mentions that you can use this EA with any broker, but suggest some brokerage firms for traders. For worldwide clients, the FXOpen and PaxForex brokers are recommended, while US Clients are suggested to sign up with OspreyFX. 

Trading strategy of Forex Fury

Forex Fury uses a range trading scheme for markets where the volatility is low. There are filters built into the robot that makes it trade according to certain conditions. You have the option of changing the settings to suit your trading style. It trades for 1 hour each day and only uses a single pair for each account.

Backtesting reports 

On the official website, the vendor mentions the robot having undergone a 15-year backtest, but does not share proper proof of the same. We only have the gain percentage, drawdown, pips, and modeling quality displayed on the website. This does not look authentic and the vendor could have manipulated the results.

Trading results in real time 

Growth chart for Forex Fury
Growth chart for Forex Fury

This is a live trading account of Forex Fury on the Myfxbook website. The EA has placed a total of 1508 trades through this account, winning 96% of them, while generating a net profit of $20111.09. One thing to note about this robot is the extremely high drawdown of 43.10%, which indicates a high-risk trading strategy. 

Forex Fury’s trading results of USD/JPY currency pair
Forex Fury’s trading results of USD/JPY currency pair

As you can see, the EA has lost several consecutive trades recently. The last 14 trades placed through this account have ended in losses, and this makes us think that it is extremely risky to trade with this expert advisor.

Forex Fury price 

There are two pricing packages for Forex Fury, namely Gold and Diamond. You can purchase these plans at $229.99 and $439.99, respectively. While the Gold plan includes only one account license, the Diamond plan includes two. The vendor offers a 60-day money-back guarantee for this robot. 

Customer support 

Forex Fury provides customer support via email, but we don’t know the working hours for the support team. Many EA vendors these days offer live chat and on-call support, as email support can often be a slow and tiring process.

Are traders happy with Forex Fury?

Customer review for Forex Fury on Trustpilot
Customer review for Forex Fury on Trustpilot

On the Trustpilot website, we came across several user reviews for Forex Fury. In one of the reviews, the customer claims that it is impossible to make this EA work with realistic settings. They have also stated that the company suggests using high-risk settings and this leads to large losses. 

Forex Fury

Forex Fury
1 5 0 1
Forex Fury is an undependable trading system that you definitely should not invest in. This robot uses a high-risk strategy that leads to consecutive losses, as is clearly shown by the recent trading history. It exhibits a high drawdown, and this means it can drain your account in no time. You’d be better off looking elsewhere for a trustworthy EA.
Forex Fury is an undependable trading system that you definitely should not invest in. This robot uses a high-risk strategy that leads to consecutive losses, as is clearly shown by the recent trading history. It exhibits a high drawdown, and this means it can drain your account in no time. You’d be better off looking elsewhere for a trustworthy EA.
1/5
Total Score
  • Functionality
    2/5 Bad
  • Trading Strategy
    1/5 Awfully
  • Live Results
    1/5 Awfully
  • Customer Support
    1/5 Awfully
  • User Reviews
    1/5 Awfully

Advantages

  • Verified live trading results available

Disadvantages

  • Backtesting data not presented in the proper format
  • High drawdown for live trading account
  • Back to back losses suffered recently
Total
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