Being new to the Forex trading platform can make trading look like a daunting prospect. Fortunately, there are tools like Forex robots and indicator services that make your work easier and more effective. The EFC Indicator is one such service that claims to fetch you winning trades within a minute. According to the vendor, this Indicator points out the accurate entry points.
Compatible with the Meta Trader 4, Ninja Trader 7, and Ninja Trader 8 platforms, this indicator helps automatic detection of a reversal pattern. Is this system suitable for you? Can you rely on this indicator to provide the hassle-free profits you aim for with Forex trading? Find out in our comprehensive EFC Indicator review.
EFC Indicator: Characteristics
EFC Indicator is part of the Trading Strategy Guides group which is known for its products focused on Forex, Options, Futures, and Stock trading. Based on the vendor information, this indicator is capable of providing consistent returns of more than $1,000 per week.
Some important features of this service include a 50-candle price line on any timeframe, identification of trend reversal, the ability to check 30 charts of different categories within a minute, entry orders based on RSI triggers, and more.
Currency Pairs, Strategy & Timeframe
This indicator works on all major currency pairs and any timeframe. The information on how the indicator works is given on the website as shown in the image below:
This indicator identifies the best points for Take Profit and stop loss using a risk to reward ratio of 1:3. As the vendor explains this risk level ensures even a 33%-win percentage can give you profits but the EFC Indicator can bring in more returns.
RSI trigger will provide the entry line allowing entry order set up beforehand. According to the vendor, this indicator is apt for all significant trading forms including scalping, day trading, and swing trading.
Other than this information we could not find the precise nature of the strategy used. This lack of a candid explanation is frustrating as we could not arrive at the right conclusion regarding the trading method used.
EFC Indicator Trading Performance
We could not find any backtests that help as proof for the effectiveness of the strategy used. One of the ways by which we assess the trading performance of an automated Forex trading system is by looking at the backtests.
These provide historical data on the performance although the performance does not indicate similar results in the future. We were unable to find verified trading results on reliable third-party sites such as Myfxbook, FXBlue, etc. Without real trading accounts or backtests, it is impossible to gauge the effectiveness of the system.
How Much Does It Cost?
A package consisting of the indicator, a scanner, and a dashboard is offered for $99. Considering the price of a similar system is around $200 on average, the cost is inexpensive. But, since cost alone is not sufficient for deciding on a system, the cheap price is not a swaying factor for many. Bonus offers of free support and EFC Access Pass to the company’s strategy Vault are given. A money-back offer of 30 days is provided by the vendor if the product does not satisfy the user.
Reviews from Customers
We could not find user reviews for this Indicator on trusted sites such as Trustpilot, Myfxbook, Forexpeacearmy, etc. Without genuine testimonials, it is difficult to assess the veracity of the claims of the vendor. However, we were able to get hold of reviews for the Trading Strategy Guides site on the Trust Pilot site. Here are some screenshots of the user reviews.
From the above screenshot, it is clear that the trading performance, support, and other aspects are not reliable.
Should You Use EFC Indicator Robot?
With below-average website design, the EFC Indicator does not measure up to our expectations. Here are some important advantages and drawbacks that will help you know about the efficacy of this system.
|Trades around 30 currency pairs||Does not provide verified trading results|
|Money-back guarantee of 30 days||Support service does not respond to queries well|
|Strategy explanation is vague|
Despite being part of the Trading Strategy Guides group, which is a fairly well-known site, EFC Indicator does not prove to be reliable. From our comprehensive analysis, we feel that the system lacks proper trading methodology.
Due to the absence of proof regarding the performance and lack of user reviews we are unable to arrive at a conclusion regarding the viability of the product. Further, the negative feedback also indicates the support is poor. Overall, this indicator service fails to accomplish what it set out to do, which is providing high profits with limited investment.