Growex is a Forex trade copier service that claims to provide 0.48% daily profits as well as free VPS hosting. According to the vendor, the trades are monitored by a trader who currently holds the 3rd position in the Forex Cup global rankings. However, we double-checked the current rankings and found this to be a false claim. 

GROWEX presentation

Growex: Characteristics

Growex makes automated entries for each trade. The proprietary software monitors the Forex market 24 hours a day, 5 days a week. When the market movements are stronger than usual and when there is a high probability of a pullback due to the pair being undersold or oversold, the system makes its entries. 

The vendor has mentioned that backtests are not possible for this EA since it uses a combination of manual and automated trading. It avoids trading on Fridays and does not keep trading positions open over the weekends. For risk management purposes, the robot monitors the trades and analyzes the technical and fundamental factors affecting them. 

The vendor claims that the EA sometimes needs to go into drawdown for the strategy to work properly. This seems like an attempt on the vendor’s part to justify the high drawdown and we don’t think we can buy it. 

The system hosts your MT4 account on a VPS server where the Master account is also located. After you’ve selected an investment plan, the copy trader modifies your lot sizes proportionately with the balance. 

Currency Pairs, Strategy & Timeframe

Growex uses a grid system that is manually managed by a trader. The vendor mentions that the system avoids using martingale principles and has a hard stop loss for each trade. For each pair, there are only six allowed positions. 

Trading management is quite conservative with Growex, and trades are sometimes closed at small loss or breakeven. Now, grid trading is a strategy that requires active participation on the part of the trader and it might not be suitable for all. If the market is directional and unfavorable, a grid trading system might run into trouble. 

Growex Trading Performance

The vendor has not provided the backtesting results for this system, as mentioned before. This comes as a disappointment because there are a number of things we can learn about an EA by analyzing its historical performance. Backtests reveal some important figures related to an EA’s performance, such as relative drawdown, profitability, profit factor, etc. In the absence of the same, it becomes a little bit difficult to complete our evaluation.

GROWEX trading results

Here we have a live trading account on Myfxbook that has been active since February 27, 2020. Growex has placed a total of 953 trades through this account, winning 656 out of them. This means that the robot has a win rate of 69%. We can see that the daily profit is 0.40%, which is slightly lower than what the vendor claims on the website. 

For this account, the drawdown is 34.29%, which is quite high. This tells us that Growex is following a risky grid trading strategy that may lead to high losses. The account has a profit factor of 2.

GROWEX trading results

As you can see, the recent performance of this account has been quite dismal. The last 12 trades placed by Growex have ended in losses, and this confirms our suspicion that that robot follows a risky approach.

How Much Does it Cost?

Growex charges $39 per month for its copy trading services. You get a free trial of 1 week, and you extend this further by signing up with the IC Markets broker. There are three distinct investment plans, namely Conservative, Moderate, and Progressive, with different projected monthly growth rates. The vendor offers no money-back guarantee for any of the plans. 

Reviews from Customers

GROWEX Reviews from Customers

There are several customer reviews on Trustpilot regarding this Forex copier. Most of them are positive, with the users praising the performance and the customer service. 

Should You Use Growex EA?

Verified live trading results availableNo money-back guarantee
Unimpressive live trading performance
No backtesting data available 


At the end of our review, we would like to say that you should not consider investing in Growex. This system follows a risky grid strategy that leads to huge losses, as is apparent from its recent live trading performance. Since the vendor does not offer a money-back guarantee, it means you stand to lose a large portion of your account without the reassurance of compensation. Thus, you should look for a different EA that has better real-time trading statistics.