Is Powerful Forex good or a scam?
Today’s robot is a Powerful Forex robot. The presentation of it is five pages long. We’re offered for earning up to 30% monthly.
So, what we know about the robot:
- Works without indicators
- An entry point is calculated by analyzing price movement previous days
- Take profit levels are calculated according to the same logic
- The minimum deposit is $340.
- EUR/USD and AUD/USD pairs supported
- MT4 supported
PowerfulForex trading performance
We’ve got a real USD account that’s been funded at $1500 in August 2019. The robot trades trough FXOpen without leverage on the MetaTrader 4 platform. The robot provides a huge monthly profit that equals 16.09%. The max drawdown was 45.56%, but trading without leverage didn’t zero the account.
In general, drawdowns low and are not that often.
Even with the March drawdown this year is wise better than the previous one.
The robot traded 99 deals with 340 pips. The average win-rate is between 73% and 76%. The profit factor is 1.77. The average trade length is 3 days.
As you can see, the results vary depending on the currency pair.
Most trades in general and won trades in fact were during the end of the Europe trading session.
The robot trades every day.
Powerful Forex runs with extremely high risks.
EA works without fixing lots increasing the size if needed.
High-risk trading provides a truly high reward. March 2020 has brought a +33.48% monthly profit.
Pricing
The robot is introduced just in one package that costs $250. So, we’ll receive an unlimited license of the EA for 1 MT4 account (which is possible to change any number of times) with a detailed User Manual, support, and free updates.
Conclusion
Pros
- Myfxbook verified trading results
- EUR/USD and USD/CAD currency pairs
- High monthly profit
- Low drawdowns trading
- High win-rate and profit factor
- Mid-price offer
- The 30-days money-back guarantee
Cons
- No setting explanations provided
- No backtests provided
- High-risk trading
It’s probably a good robot you can try. Don’t forget that these results have been reached with high risks trading with no leverage. So, if you like to get a safe and sound profit you have to decrease risks to the average level. It changes a monthly gain to 2-4% for low-risk trading and 7-10% for medium-risk trading.