Extreme Forex EA is a fully automated expert advisor, defining the trading setups and executing orders for the user. It has been on the market since since June 1st, 2022. As of now, it has only been tested on gold (XAUUSD).
Detailed Extreme Forex robot review
This EA specializes in scalping XAUUSD price charts. To set it up, you first need to download its zip file from their official website, then extract it. Next, connect it to the M15 XAUUSD chart on MT4 or MT5, which the makers recommend as the ideal chart timeframe for best results. You can use the .set file to configure it automatically. Alternatively, you can follow the provided guide to set it up manually.
To use this EA, you need only to attach it to one M15 XAUUSD chart, and it will immediately begin scouring for the best trade setups. You could choose to try it out on a demo account first or go straight to your live account. So far, it has been posting positive live results, which are easily accessible from its website. However, there seems to be no record of any back-tests or results from the same. The EA boasts a self-diagnostic system, and it will also automatically reconcile broker time zones with GMT.
Extreme Forex EA strategy tests
As aforementioned, this EA is primarily a scalping bot. It does not use any grid trading strategies, and neither does it take any risk hedging measures. Instead, it applies its algorithms to filter potential trade setups, after which it picks out the ideal entries and exits.
For a start, it will place 3 transactions to help it lock down its trade calculations. For risk management, it utilizes stop losses and achievable profit targets. These are determined using the ADR indicator to ensure they match the prevailing market conditions. The main focus of its strategy is long term stable growth, rather than one-off large profits.
The bot was subject to a live test in the first few days of June. Albeit inconclusive, the results were rather promising.
Live account trading results
The Extreme Forex brand has been sharing its software performance results since the launch date. The live test began with an initial deposit of $5,000 on 1st June 2022. By 6th June, the bot had placed a total of 51 trades, which speaks to the efficiency of the EA in identifying trade setups. Thirty of these were long trades, which cumulatively yielded a profit of $752.10. The remaining 21 were short trades, and these resulted in an overall loss of $190.60.
Of the total, 33 trades were winners, while 18 resulted in a loss, a win rate of 65%. Over this period, the maximum drawdown was 4.37%. The total yield was a net profit of $561.50, a gain of 11.23% on the initial deposit. Going by this result, this translates to 1.53% in daily gains.
There are two subscription tiers to this EA. One is the Power package, priced at $99 monthly. The recommended minimum deposit is $50, and it promises a monthly profit of 80 – 90%. This will be obtained in about 120 to 150 trades, with the expected drawdown not exceeding 27%.
Alternatively, you could opt for the Super Power package, whose fee is 25% of your obtained profits. You have the option to share your profits on a weekly, bi-monthly, or monthly basis. For this package, you will need a minimum deposit of $1000. The expected profit is anywhere between 60-75%, from a trade volume of approximately 300 trades per month. Subscribers of this package can expect a maximum drawdown of 15%. With these results, the fees are quite fair compared to the ROI.
Interestingly, you do not have to pay any fees at sign-up. For the Power package, you pay the monthly fee at the end of the month, which currently has a 30% discount. For the Super Power package, you will share profits at the end of your selected period. You can also cancel your subscription at any time, and you will get a refund for the unused period. What’s more, there’s a 14-day money-back guarantee, which shows the vendor’s faith in their product.
There are plenty of positive reviews on their website, but none on third-party websites. It is likely that the reviews on their website are cherry-picked, but nevertheless, they speak highly of the EA. Here are some examples.