Can you win trades in less than a minute? This is what the EFC Indicator claims to achieve with its trade entries. According to the vendor, this MT4 compatible system is an easy, quick, and clean indicator with a proven money-making strategy.
This indicator system can spot reversal trades on any timeframe as per the vendor information. Are the claims of this indicator system true? Can you trust this system to provide the profits it assures? Find out in this EFC Indicator review.
Detailed Forex Robot Review
As per the EFC Indicator website information, the system is part of the Trading Strategy Guides group. There are several other products for trading in Forex, Options, Stocks, etc. that this group has developed.
For the EFC Indicator, the vendor assures consistent weekly profits of more than $1,000. To achieve this result the EFC Indicator trades the trend reversals in the market. The vendor does not provide any more details on what the strategy used is and how it works. This lack of transparency in relation to the trading method makes us suspect that the strategy involves high risk.
According to the vendor information, this indicator works well for all types of traders including Day traders, scalpers, and swing traders. Some of the features of this system include auto filters, EFC Scanner with alerts and push notifications, and a dashboard. Nearly 30 currency pairs can be traded using the scanner feature. As per the vendor information, the strategy vault feature has more than 20 strategies for traders to learn.
No mention is made about the developer behind this product except for the product being part of the Trading Strategy Guides group. This lack of information is a drawback as we are unable to assess the authenticity and reliability of the system.
EFC Indicator Strategy Tests
We could not find any backtesting results provided on the official site. Strategy tests are a vital part of any Forex trading system as they give a better perspective of the method used and its effectiveness.
Backtests show historical data on the performance of the system but they do not predict future performance. Despite this, traders find the backtests a useful tool for assessing how the strategy works. The absence is a shortcoming in this indicator.
Live Account Trading Results
This indicator system does not provide verified live trading results. Although the official site provides a few screenshots of trading results (shown above), these are not verified by a reliable third-party site such as Myfxbook, FXBlue, etc. The absence of backtests and live trading results makes it difficult to know how the system operates.
We could not rely on the screenshots of trading provided by the vendor as it is not possible to assess the trading details. Although the Trading Strategy Guides claim to have an experience of more than 10 years, they are not providing any measurable results.
As far as price is concerned, this indicator system is available now at $99. This price is inclusive of the indicator, the strategy guide, and support. And, this price is a one-time payment that provides unlimited access, EFC Scanner, EFC Alerts, and 210 potential reversal trade setups in a single dashboard among various other features. While the price is low, it does not compensate for the lack of verified trading results or the unclear strategy. The vendor offers a 30-day money-back guarantee.
We could not find any feedback from users although the system has been in the market for many years. User reviews found on reliable sites such as Forexpeacearmy, myfxbook, Trustpilot, etc. help in assessing the efficacy of the system as such sites offer genuine reviews from real users. This obvious lack of user feedback for the EFC Indicator looks suspicious.
Summing up our EFC Indicator review, the system fails to meet most of our review criteria including verified performance, user feedback, and insight on the strategy used.
Verified trading results are a very important part of a trading system in Forex as they provide significant information about the strategy used and the level of risk involved. With the absence of verified results, evaluating the system is difficult.
Further, the system does not provide backtests which also help identify the strategy used and its effectiveness. While the price is cheap and a money-back guarantee is offered, this does not distract us from the fact that the performance of the system is unclear. Without knowing the performance via trading results and user feedback, we cannot trust this system to deliver the results it guarantees.