QuivoFX is a provider of quality software for Forex trading and it has been operating for about five years now. It develops expert advisors and indicators to help Forex traders earn more profits through their trades, and to date, it has created 16 EAs and 18 indicators. Moreover, it has a trading forum and a trading school where you can learn about programming EAs, Forex robots, chart templates, etc.
QuivoFX was earlier known as Tradarz, and the man behind it is Yannick Deubel, an expert developer based in Switzerland who has a vast amount of experience in programming trading systems. But, this is not enough to judge the efficacy of this Forex trading system. We need to assess the individual aspects of QuivoFX in order to decide whether it is a system worth investing in.
QuivoFX has many offers when it comes to indicators and expert advisors, out of which the EA starter bundle is the most favored one. This bundle lets you use 13 indicators and EAs in a single package. These are nothing but automated indicators that you can already find on the MT4 platform.
You can test the EAs on demo accounts without paying a fee and after purchasing them, you can trade in real-time. QuivoFX outlines specific strategies for every single EA it offers. Patterns and illustrations are also provided, based on which the robot places the trades.
Currency Pairs, Strategy & Timeframe
QuivoFX works on the MT4 platform and you can use it to trade multiple currency pairs. The timeframes used by this system are H1, M30, M15, M5, and M1. All of the schemes used by the various Forex EAs are provided on the website, which is a sign that this system knows what it is doing.
The Stochastic Oscillator EA, for example, has entry strategies based on crossovers in overbought/oversold levels, main line BreakIn and BreakOut, Signal Line BreakIn and BreakOut, etc. Exit strategies are based on the crossover, Main Line BreakThrough, and Signal Line BreakThrough.
The Average Directional Movement Index EA is yet another offering from QuivoFX that is based on the ADX oscillator. Here, the entry strategies are based on ADX and +DI/-DI breaks with different entry filters for breakout and cross strategies. Exit strategies are provided only for the Pro and Advanced versions of the software and are based on ADX breaks, +DI/-DI Breaks, and +DI/-DI Crosses.
Very few Forex EAs outline the technical details of their strategies these days, and we think it is a positive sign that QuivoFX chooses to reveal these. It gives a Forex trader much more confidence in knowing the exact details of the entry and exit strategies. Also, it is more likely that such a system would perform well in the live market.
QuivoFX Trading Performance
While QuivoFX is quite unambiguous regarding the minute details of the trading strategies, the same clarity is not maintained when it comes to the trading performance. The EAs offered by this developer are 100% automated, so we expected verified trading results from live accounts or at least a demo account. Verified trading results on third-party websites like Myfxbook is something all traders look for and they will be thoroughly disappointed.
The lack of verified trading results means that if you buy this software, you have to trust the strategies to work for you. But, since there are other Forex robots in the market providing verified trading results, it becomes difficult to trust a system just because it has provided strategy details.
How Much does it Cost?
The pricing plans depend on the EA you are purchasing. Some of them are quite inexpensive while others cost a bit more. The prices range from $29 to $149 and you have the option of buying the pro, basic, or advanced versions.
With the advanced versions of the EA you get spread filter, break-even, trailing stop, full inverse strategy, and money management techniques.
Reviews from Customers
These days people look for user reviews when they wish to buy a product and Forex EAs aren’t any different. When multiple individuals say positive things about a product, you know it would give you value for money. Unfortunately, we could not find any reviews about QuivoFX on websites like Trustpilot or Forexpeacearmy.
Should You Use QuivoFX EA?
|Trading strategies are clearly outlined||Trading results are not revealed|
|Not enough information about the vendor|
|No user reviews available|
To sum up, QuivoFX has more pitfalls than advantages. It does not share any live trading results and no user reviews are present to back up its claims. While the strategy details are provided, we don’t think they are enough to go on. Thus, we think it is a risky proposition to invest in a system like this.