The SFE Action is a forex Expert Advisor (EA) built for the MT4 trading platform. The vendor asserts that it is based on action rules, and uses no hedge, martingale or grid. It is highly diversified and low risk, therefore it is very safe to use. It is said to be suitable for all level of traders and can work for every broker, although the vendor recommends the use of ECN brokers.
The vendor of this EA is identified as Joel Juanpere and he lives in Spain. He is the owner of “Smart Forex Expert”, a forex software development company located in France. He has other EAs.
This EA trades 15 currency pairs and 4 timeframes (H1, M5, M15 and M30). Joel says that the diversity of currency pairs and timeframes increases the chance of sustained growth and reduces risk. The price is set at $180 for one month lease, $380 for 3 months lease, $600 for 6 months lease and $1000 for a year’s lease. The price for outright purchase of the SFE Price Action EA is $2000. The EA is only available through the MQL5 website.
For such a huge price, the nagging questions are: is this fx EA worth the cost? Can we trust the SFE Price Action to deliver on its vast promises?
SFE Price Action: Is It a Scam?
We have reviewed the software and would like to say that there are aspects of this software that are faulty. This makes the SFE Price Action a software not to trust. So what are these key areas where the SFE Price Action has fallen short?
- Trading Results
- High Cost
- User Testimonials
Inconsistent Trade Results
There are several Myfxbook instances of this software. Some show modest gains, and some show startling losses. AN EA must be consistent and be able to deliver positive results on all accounts, used on all broker platforms with the same degree of consistency.
This is an example of one of the accounts where the SFE Price Action EA is not performing well. For an EA which costs $2,000, such inconsistency is not a welcome development.
Most traders consider the price of this EA as exorbitant. $2000 is way too expensive for an EA which may even blow your account. After buying the EA, the vendor recommends at least $1000 deposit in your broker account before you can start trading. This is rather too expensive for the trading community where the average cost of EAs is around $150. Free EAs are even available.
The user testimonials for this EA are mainly from the MQL5 website forum where the EA was listed for purchase. There are negative reviews where the users are unhappy with the product. Some even called the SFE Price Action EA a scam.
The testimonials say it all. The remarkable thing about this is that the MQL5 forum is an authentic source of information, so negative reviews about this software on that forum are about as factual as it gets.
Conclusion: SFE Price Action Cannot Be Trusted
The SFE Price Action EA is likely to be a product of hard work from Joel Juanpere. However, the EA is overpriced and as a result many traders found the price outrageous and exploitative. The trading results presented were no better than that of other EAs that sell for less than $200. Many users who bought and used this EA were unsatisfied and some even labelled the product as a scam. Please, it is best to avoid the SFE Price Action EA because it cann