Forex Combo System is a fully automated system with ten years of proven Forex profits. This EA assures guaranteed success with its four autonomous trading approaches. Long-term consistent profits are promised by the vendor with the accurate trading execution made possible by the handpicked strategies. The ATS claims to integrate the four strategies which help in accurate market assessment based on the algorithms that help spot the lucrative opportunities accurately.
Detailed Forex Robot Review
Promoted by the FXAutomater group which has several other such products like Forex Diamond, Wall Street Forex Robot, etc., this FX EA is claimed to be the only comprehensive trading software in the market. The features of the ATS include proven strategies, market scan, SL protection, money management, and volatile market protection. This system works best on the GBPUSD and the EURUSD pairs and is compatible with all brokers and other EAs.
The vendor claims that this EA has been rigorously tested over ten years and has backtested and live results to prove its performance. We are unable to find info on the developer or the team behind the product. There is no location address or phone number provided. For support, the vendor provides an online contact form. The lack of vendor transparency makes us doubt the reliability of the FX EA.
Forex Combo System Strategy Tests
This FX robot uses scalping, trend detection, market corrections, and range detection strategies. The vendor explains each of the approaches used claiming that they help in profitable trades. There are backtests provided for each of the trading approaches used separately and in combination. Here is a backtesting report of the four trading approaches used in combination.
From the above strategy tester report, we can see a 5-minute time frame is used on the EURUSD pair and the test is of 90% modeling quality. The test done from 2007 up to 2018 shows a profit of 275372.18 from an initial deposit of $5000. A profit factor of 1.75 is present for the account which shows 60.25% of profitable trades and a maximum drawdown of 32.59%. We can see that the profit is too low and the drawdown very high, which indicates a risky trading approach.
Demo Live Account Trading Results
The vendor provides a few demo accounts verified by the myfxbook site. Here is one of them using the leverage of 1:500 on the Metatrader 4 platform.
From the trading stats, we can see similar values for the total and absolute profit percentage which is 238.59%. A drawdown of 47.19% is present for the account with daily and monthly profits of 0.08% and 2.28%. For an initial deposit of $352.70, this account that started in February 2017 shows the profitability of 60% for a total number of 923 trades. The profit factor is 1.24 and from the trading history, we can see a lot size of 0.02 is used. Comparing the backtesting report with the demo account results, we can see the profitability is the same while the drawdown is higher for the demo account. The big lot size and high drawdown indicate the combination strategy is not working and also carries a high risk. Furthermore, the lack of real account results raises a red flag.
To purchase this ATS, you have to pay $137 which is a discounted price with the earlier price being $197. The price includes a single real money account, four trading systems, and a 60-day money-back guarantee. An unlimited number of demo accounts are made available along with lifetime updates, access to the private member area, and 24/7 support.
We found 5 reviews for this EA with a rating of 2.042 on the Forexpeacearmy site. Here are a few of them:
From the above feedback, we can see that the real trading account has suffered a huge loss for the users. Moreover, the absence of recent reviews indicates this is not a popular system.
Forex Combo System claims to be a proven trading product that uses four successful trading approaches. From our evaluation of the features, performance, price, user reviews, we find that this is not a trustworthy system.
Even though the vendor provides backtests and verified trading results, the trading details reveal a high drawdown and low profitability. This shows the risky trading approach despite the claims of the vendor about using a winning strategy combination.
The lack of vendor transparency and the negative user reviews further confirm the unreliability of the FX robot.