TSFX Review: A Martingale Forex Robot
This post is a review of TSFX EA, a robot based on the martingale system. Primarily, the martingale approach demands that you invest continually, even after losses. It depends on the fact that continuous investment will eventually result in profit, recovering all the losses incurred while the trade was at a loss position.
This TSFX review wants to find out if this inherently risky approach is worth a try. Is it Safe to Trust TSFX? What about the Martingale approach? Is it any good for an EA?
What is TSFX Expert Advisor?
The EA is owned by a team of professional traders. They decided to build this automated robot based on their years of experience. They suggest that it is a reliable and profitable robot based on the MetaTrader 4 platform. Please note that TSFX stands for Testosterone Forex Robot.
TSFX uses a mathematical two- martingale algorithm to ensure investors avoid the dreaded drawdown. The internal martingale works by looking at the set risk to maximize profits based on the risk appetite. Conversely, the external martingale works to monitor the internal martingale. It ensures reduced risk of opening a large number of orders. It also discourages large drawdowns by the EA.
The TSFX robot works automatically, but you need a broker. The trader will make a deposit, and the EA will control the transactions. This EA majorly focuses on USDJPY currency pair based on a 15-minute timeframe.
TSFX EA Features
- Platform: MT4
- Windows, android
- Starting balance:> $5000
- Minimum lot: 0.01
- Leverage not less than 1:500
- Fully Automated
- Auto risk Adjustment Free updates and support.
Marketers of this EA suggest it’s the best EA even for forex trading beginners. After all, you just need a deposit, sit back and watch as the magic happens. But is this truly the case? See details of what we found out.
Currently, the EA is available in version V3.02 that utilizes the Mt4 platform. The broker you chose must allow hedging. More so, the EA number of open transactions at a time is not less than 30. For you to use this EA, you require a minimum of $5000. However, the developers recommend an account balance of $10,000 or its equivalent in cents.
TSFX EA is offered in basic and full version. The full version comes with extra perks like recommended settings. In both accounts, you get free lifetime updates and support.
Some market places are offering the basic TSFX account for $47. The price difference is staggering between various marketplaces
The claims we evaluate for this EA are:
- Monthly profit: 10%.
- Drawdown: Less than 22%.
TSFX EA Review: Performance Statistics
No backtest results are provided for this EA. More so, we did not find any active real money account hosted on Myfxbook or FX Blue. However, through our probing and searching, we came across a demo account for this EA.
Now, to put it in plain terms, the demo results for this EA are abysmal. This is summed up by the risk to reward ratio, which stands at -15.94. Even if it is a demo account, the results are quite telling – a total loss of the account.
EA Review: TSFX
The use of the two-martingale algorithm is still a risky approach. Even if the external martingale is taunted as the solution to large drawdowns and opening a large number of orders, your account is still likely to face losses. This is because control is apparently set for “large” drawdowns and “a large number of orders”.
Moreover, at the time of publishing this review, the FSFX website was not active. Only a few EA marketplaces are pushing this product. Another red flag is the fact that no customer reviews exist. A glance on major customer reviews site reveals zero user reviews.
The marketplaces are quoting the price of this EA at $49, others at $249. Additionally, you need $5000 for a standard account. The amount to start is a bit too much. We at EA reviews believe there are better ways of spending your money.
Moreso, there are no backtests results shared for this EA. Live or demo trading results are also non-existent. In the absence of this, it is truly difficult to give much thought to this robot.
We do not know the team behind the development of this EA. All we are told is that its a team of professional traders. Therefore, we cannot vouch for any team member and their experience in forex trading matters.
Looking into the Whois data for this website, we find out that the site is registered by individuals in Tokyo. The domain name is still active therefore we have to question why the website is not active at the moment.
There is also no information about the refund policy. Consequently, do not expect your money back once you purchase the EA and are dissatisfied with it.
There are no proof of real live accounts for this EA. Customer reviews are also non-existent. So for now, we will base our proof for their claims on the results we got from the TSFX demo account.
- Monthly profit: 10%: False
- Drawdown: Less than 22%: False
Our Final Thoughts
There is a significant risk in investing in TSFX EA. From our experience, no matter what the approach, martingale systems are inherently risky. In this case, this notion is still reinforced.
Another thing to note is, the website for this EA is no longer active, which raises a lot of red flags. It leaves you with no information at all about the refund policy.
Honestly, we recommend that you avoid this EA robot. This until the owners of this EA make everything clear, including, for starters, a functioning website.