Red Fox EA is an FX robot that uses technical and fundamental analysis for identifying the best trades. As per the vendor, this FX EA can help in steady profits and a low drawdown. Two different settings are present namely the low drawdown and the aggressive trading style. This ATS is completely hands-free software so you need not monitor it daily or tweak the settings manually. The vendor provides verified live trading results.
Red Fox EA: characteristics
From the info that the vendor provides, this ATS can generate monthly profits ranging from 10% up to 48% using its different trade settings. A drawdown ranging from 18% up to 38% for all pairs is possible with this FX EA as per the vendor.
The main features that the vendor highlights for this MT4 tool include the presence of a news filter, spread control, and smart inner indicators. This FX robot can work with 5 to 9 currency pairs simultaneously and has an automated lot management feature. A manual lot size of 0.01 is used for each $1000.
Currency pairs, strategy & timeframe
A market reverse price approach is the main strategy this MT4 tool uses along with custom indicators. It is a 100% non-Martingale approach. The vendor claims that the ATS has a low-risk setting that ensures low drawdown and no blowing of user accounts at any time.
Requirements for the system are an MT4 account and a minimum deposit of $1000. We could not find info on the timeframe required. The vendor recommends the use of ECN account type with the leverage of 1:500 and though it is broker compatible, the vendor recommends Opoforex broker due to the high speed and nominal fees the broker charges.
Red Fox EA trading performance
No backtesting results are present for this FX EA. The lack of backtests makes us suspect the reliability of the EA. A real USD account using the Opoforex broker and automated trading with 1:100 leverage on the MT4 platform is shown here. This vendor account is verified by the myfxbook site.
From the screenshots, we can see the EA has generated a total profit of 26.06% and an absolute profit of similar value. The daily and monthly profits were 0.20% and 8.35%. While the profits were not bad, we are concerned about the high drawdown value of 47.51%. The high value denotes the approach used is risky and has wiped out nearly half of the capital.
For the account that started in June 2021 and stopped on September 1, 2021, the total number of trades executed is 467. Profitability of 77% is present for the account with a profit factor value of 1.92. For deposits of $10000, the lot size used varies ranging from 0.10 up to 0.13. From the trading results, we find that the strategy used is of high risk, and contrary to the claims of the vendor, the EA has the potential to wipe off your account with its risky strategy.
How much does it cost?
To buy this FX EA you need to pay $266. The package includes one demo and one live license key and a full setup manual in PDF format. A 14-day refund offer is present. You can test the EA in the demo account for 14 days using the low drawdown setting and if it does not work, you can request a refund by sending an email to the vendor.
Reviews from customers
We found user reviews for the company on the Trustpilot site. Here are a few of the testimonials for this FX EA.
From the feedback, we can see that the EA had a big drawdown and losses within a week of setting up the account. Further, the company did not provide a refund. Another user also complains about big losses and the failure of the company to refund the amount.
Should you use Red Fox EA?
From our assessment of this FX robot, we find that it does not use a low-risk approach. Our analysis of the various aspects of this MT4 tool reveals it is not a trustworthy EA. Here are some of the main pros and cons we found.
|A fully automated EA||Strategy is not explained|
|14-day refund||High drawdown|
|No updates since September 2021|
Red Fox EA assures low drawdown and high profits. But the real trading results reveal a high drawdown and low profits. Our evaluation of the features, trading approach, performance, and other aspects reveal this is not a reliable expert advisor. The failure of the vendor to explain the trading approach and the lack of backtests makes us suspect this is not a reliable system. Furthermore, the high drawdown in the real trading results and negative reviews confirm that this is an unreliable and risky expert advisor that you should avoid.