Forex Blade EA Review: A Scam?
In today’s post, we do a review of a relatively new EA called Forex Blade. It was established in late 2019. Androw Narouz, an Egyptian, developed this EA. Together with a team of 3 people and with a combined experience of more than 20 years, they decided to create this EA.
So, in this review, we analyze in detail this forex robot. We look at the results and the user feedback. What’s more, we give you our honest opinion concerning this EA.
What is Forex Blade EA?
The concept for this EA came about after Androw Narouz got tired of being broke. In his testimonial, he states that he made $78k within 2-years from forex trading. The owners claim that this EA was developed by the best developers globally, a statement that we are apprehensive about.
Forex Blade is an automated forex trading robot. Apart from this EA, the owners are also offering courses for those interested in forex trading. They aim to help people learn and make money through their efforts.
The website remains mum about the details of the strategies it utilizes. Moreover, important information such as the timeframes, the recommended minimum deposit and leverage are not mentioned.
However, digging around the internet, we realize that this robot utilizes the martingale strategy, which experts consider a risky strategy.
Again, the website fails to mention the currency pairs it works with. Moreso, it does not provide the price for this EA. We only noted that one is required to pay a dollar to enroll in their “university”.
Forex Blade LLC EA Review: Peformance Statistics
The developers of this EA have not provided any backtest results. We consider backtest statistics necessary as they act as a baseline for how an EA should perform.
Apart from backtest results, real, verified accounts hosted on either FX Blue or Myfxbook give a realistic outlook about an EA. However, we did not find any performance statistic for this EA. We only found a real account for a PAMM account associated with Forex Blade LLC.
We looked for user feedback concerning this EA. The reviews we found were only for the educational bit of the site. However, even those look dodgy.
Almost everything with this forex robot is amiss. There are no backtests results shared and no real accounts results shared as well. The website has a picture of a high-value car and a somewhat happy family. This gives off a picture of an overly successful EA, which is not the case.
Moreover, there are no customer reviews for this EA. Therefore, we have no way of knowing how this company treats its client.
This is one EA that is not worth your time and money. More so, the developers have not provided any evidence of how they got the $2k to $80k.
Finally, we would love it if the developers would provide real money accounts. We caution our readers not to invest their money with this EA; you are more likely to lose it.