The Flex EA has been in the market for quite some time. During the past 6+ years since it went live, it has attracted thousands of traders wishing to join its community. And from the clients, it has also garnered hundreds of ratings with most traders crowning it as a great automated forex trading system.
But is it as great as they claim, tho?
Flex EA Characteristics
This robot is 100% automated and the website shows it has been in the market for more than 7 years. The owner of this robot is quite known because he’s actively engaged in replying to clients publicly. His name is Steve. And while we may not easily pinpoint him in public, it’s commendable how he takes time to reply to client reviews individually.
What sets this system apart from other forex robots is the virtual trades technology. By this, the software opens virtual trades in the background to scan for perfect entries before opening a real trade.
Additionally, Flex EA has several strategies you can choose from. And to some extent, you can even create custom strategies. All within the robot.
Currency Pairs, Timeframe And Strategies
It trades all popular currency pairs such as AUDUSD, USDCHF, GBPUSD, USDJPY among others. From the website, it says there are some currency pairs you’re advised to avoid.
As for the timeframe, this robot works in all timeframes. It can produce good results in scalping as well as swing trading.
The robot comes with 12 strategies you can choose from. There’s default which is the default settings that comes with the robot upon purchase. Then there’s super precise, scalper, etc.
What this means is once you purchase the software, you have the option to customize your robot to anything you want by choosing the strategy that works best for you.
If you’re a scalper, for example, and love martingale, you’d select maybe the full grid, scalper and default settings.
Flex EA Trading Performance
Due to how diverse this forex EA is, the results are as wild too. One person’s account could be earning 7% returns per month while another is more than 30% the same month.
Your results are determined by your settings. That means that while, or before purchasing, it’s best first to educate yourself on the strategies and find which work best for you. Or if you’re already a trader, you could try and automate then see if it is actually possible.
That way, once you purchase you can spend that month only trying and testing which settings are good. If you’re not happy with the results, you can then ask for your money back.
That said, most accounts are profitable with the win rate hovering between 60-75% for the accounts I viewed.
It’s good to know that even the best strategy can’t cover bad trading discipline. Like this account. Created on Aug 6th with about $1000. (¥100,000). The owner withdrew $500 without even placing one trade.
Then he heavily traded the remaining $500. As you can see, in one week (5 trading days) he has opened 168 trades and more than 3 lots.
The strategy used seems to be working. But using 3 lots on a $500 account in 5 days is just bad discipline. Not even the 70% win rate can cover his account.
So remember, unless you control your greed and practice discipline, not even the best strategy will work for you.
Pricing And Refunds
Flex EA comes in two price packages. The first costs $330 and comes with 1 live account. The second is $450 and comes with 2 real accounts. With both, you get unlimited demo accounts and the 12 strategies. You also get access to the Flex EA forum, an active community of traders using this forex trading system.
If you’re not content with the EA, you can request a refund within 30 days.
Reviews from customers
Flex EA has hundreds of reviews from customers. And despite how diverse results are, most of them are happy with the services.
The Wrap Up
This robot has many positive reviews. But still, there’s something that could be addressed. Thing is, before knowing which settings work best for you and even navigating them, time gets short. If you’re a complete newbie, it might get hard finding the settings which will work best for you.
From most reviews, the default settings don’t work. So you will need to spend time asking others which parameters work best for them and test. The main con is the short refund window.
Because traders will need to test settings for themselves, the refund could be 60 days so that one can get enough time to test and decide if it works for them.
My rating is 7/10