Forex GBP AVENGER is a fully automated Forex robot that claims to have a team of experienced traders working behind the scenes to earn their customers profits on a consistent basis. Now, these claims are not new when it comes to Forex EAs, and you always need to verify them independently. It becomes necessary, therefore, to conduct a thorough analysis of each and every component of the system.

Forex GBP AVENGER: Characteristics

Forex GBP AVENGER: Characteristics

First of all, the Forex GBP AVENGER website looks a bit disorganized with some images missing and an FAQ section with filler text. There is no information available on the vendor, other than the fact that they are traders in India, Russia, China, and the US, with more than 10 years of experience. It is mentioned that they have been testing the system for over 8 years to run on multiple brokers and live accounts.

As per vendor claims, this is an easily customizable Forex EA that has been backtested for more than 10 years. It doesn’t need a high-end computer or an extremely fast internet in order to run efficiently. The system is 100% automated, so there is no need for manual intervention. 

When you buy this software, you get access to one real and one demo account. Moreover, the company provides free updates every three years.

Currency Pairs, Strategy & Timeframe

Forex GBP AVENGER deals in all currency pairs and employs Elliot’s Wave principle while analyzing the market. The vendor mentions that the Forex EA works during the principal trading hours in America and Europe, employing reasonable risk control measures. 

No further details are provided on the trading strategy, which is rather disappointing. Forex traders often look for technical details in order to assess whether the strategy is effective or not. Some of the more technically-inclined traders might take this as a red flag.

Forex GBP AVENGER Trading Performance

One of the great things about Forex GBP Advisor is that it has provided live trading results for multiple trading accounts. There is an FXBlue account trading in all kinds of pairs and three distinct Myfxbook accounts for MIXED, all Pair, and GBP/JPY pair. The FXBlue account is as shown below.

Forex GBP AVENGER Trading Performance

As we can see, this account was launched in November 2019 and since then has made steady cumulative profit growth. The daily, weekly, and monthly returns for this account are 0.36%, 1.8%, and 7.9% respectively, while the profit factor of 1.51, if not spectacular, is quite decent. It has managed to generate a profit of $37,234.60 from a deposit of $11,382.15, and this tells us that this Forex EA is certainly capable of closing most trades in profits.

Other parameters of interest in this account include the risk/reward ratio, which is 1.15, and the trade win percentage of 74.6%. Out of all the currency pairs, the most number of trades have been carried out on the AUD/JPY pair, closely followed by the EUR/JPY pair. 

Now, let us take a look at the Myfxbook account for the GBP/JPY pair.

Forex GBP AVENGER Myfxbook

Here we can see that 287 trades have been placed using this account, out of which 195 have been closed in profit, bringing the profitability to 68%. The absolute gain, which is the return on the investment as a percentage of the total deposit, stands at 11.51%, which we think is quite satisfactory. Another thing to note is that the profit factor of 1.58 is quite close to that for the FXBlue account, so consistency is maintained in this regard.

Backtesting data is missing for this Forex EA, which is a bit odd since the vendor mentioned that the system has been backtested for more than 10 years. It seems to us that the former claim is hollow and might have been fabricated.

How Much Does it Cost?

Forex GBP AVENGER price

Forex GBP AVENGER offers only one pricing package where you can purchase the software for $299. However, the vendor mentions that they can customize the plan based on your requirements. This is something that not many Forex EA vendors offer and we take it as a positive sign.

Furthermore, there is a 30-day money-back guarantee for the plan, so you get a full refund if you are getting unsatisfactory results.

Reviews From Customers

Although this Forex EA does have a profile on the Forex Peace Army website, we could not find any reviews from real users on that website or on Trustpilot. This is a sign that not many people are using this software for placing their trades. 

Should You Use Forex GBP Avenger EA?

ProsCons
Live trading results are providedNo information on the vendor
Backtesting data is missing
No user reviews are available

Conclusion

To summarize, we don’t think you should take the risk of purchasing this software. After highlighting the backtesting results on the website, the vendor has provided no evidence of it. And, while the live trading results are satisfactory, we simply cannot ignore the lack of strategy insight and customer reviews.