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Forex Flex EA Review – A Powerful and Flexible Automated Trading Robot

Forex Flex EA is an automated trading robot designed for the MetaTrader 4 and MetaTrader 5 platforms. It was created by a team of professional traders and programmers with over 10 years of experience in forex algorithmic trading.

Forex Flex EA

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Overview of Forex Flex EA

Forex Flex EA uses an innovative “virtual trade” technology to monitor the markets and identify optimal entry points for trades. Once it determines the ideal entry point, it will automatically open and manage real money trades according to the configured settings.

Some key features of EA include:

  • Fully automated trading – no manual intervention needed once configured
  • Works on any MT4/MT5 broker
  • Supports all currency pairs and timeframes
  • Equipped with multiple trading strategies via “set files
  • Includes money management and risk management features
  • Avoids trading during major news events
  • Regular updates to improve performance

How Forex Flex EA Works

Forex Flex EA opens virtual sample trades in the background to constantly analyze the markets. It looks at various factors like price action, indicators, and market conditions to determine the optimal entry points for real trades.

Once it identifies a high-probability trading opportunity, EA will automatically open a real trade according to the settings. It will then manage the trade by setting stop losses and take profits, trailing stops, and closing the trade at the right time.

The trading logic combines several strategies including trend following, reversal trading, breakout trading, and grid trading. It uses a mix of indicators like Moving Averages, Bollinger Bands, RSI, Stochastics, CCI, and custom indicators.

Key Features and Settings

Multiple Trading Strategies

Forex Flex EA comes preloaded with 12 optimized “set files” that allow you to choose between different strategies and risk profiles[1]. This makes it suitable for both conservative and aggressive traders.

The set files include strategies like:

  • Steady and safe – For consistent growth with low drawdowns
  • Aggressive – For larger gains but higher risk
  • Grid trading – For trending and ranging markets
  • Breakout trading – To capitalize on momentum breakouts

Customization Options

Experienced traders can fully customize the EA by changing values for settings like:

  • Lot size and risk per trade
  • Indicators and rules for trade entry and exit
  • Stop loss, take profit, and trailing stop levels
  • Currency pairs and timeframes to trade
  • Trading sessions and times

Risk and Money Management

Forex Flex EA has in-built features to control risk and optimize account growth such as:

  • Per-trade risk in percentage of account balance
  • Total trades per day limit
  • Equity trailing stop loss
  • Maximum daily loss limit
  • Martingale and grid trading lot multiplier

News Filter

To avoid volatile market moves around major news events, Forex Flex EA has an economic calendar filter. It will not open new trades during high-impact news releases for the currency pairs it is trading.

Other Features

Other notable features include:

  • Compatible with ECN/STP brokers for direct market access
  • Works with FIFO and NFA compliant brokers
  • Stealth mode to hide trading activity
  • Dashboard with account stats and trading logs
  • Email and push notification alerts

Performance and Backtests

Extensive backtesting on historical data is a good way to validate the profitability of an EA before using it live.

Forex Flex EA provides backtest reports on their sales page showing impressive results across multiple currency pairs. For example:

  • GBP/USD: 19,397% profit over 5 years
  • EUR/USD: 254,490% profit over 3 years

The backtests have a modeling quality of over 99%, meaning the historical testing is highly accurate and representative of live performance.

 

Forex Flex EA myfxbook results

Live Performance

In addition to backtests, Forex Flex EA provides links to MyFXBook verified accounts showing consistent profits with low drawdowns.

For instance, one account shows:

  • 829% net profit over 3 years
  • Average monthly gain of 2.8%
  • Maximum drawdown of 19.2%

The live results match the backtests and prove that EA can remain profitable in real market conditions.

Pricing

Forex Flex EA is available under a few pricing options:

  • Basic: $330 for 1 live account license
  • Regular: $495 for 2 live account licenses
  • VIP: $795 for unlimited accounts

The unlimited license lets you use EA on as many accounts and MT4 platforms as you want.

All packages include free lifetime updates, support, and access to the member’s area. There is also a 60-day money-back guarantee if you are not satisfied.

Considering the features and performance, EA is reasonably priced compared to competitors.

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Forex Flex EA Pros and Cons

Pros

  • Proven profitability via backtests and live accounts
  • Fully automated trading and ease of use
  • Wide range of customizable settings
  • Works across all currency pairs and timeframes
  • Includes risk management features
  • Regular updates to the software
  • Good customer support
  • Unlimited license option

Cons

  • Requires some familiarity with MT4/MT5
  • Conservative settings have lower profit potential
  • Aggressive settings can lead to higher drawdowns
  • Many options can overwhelm beginners

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Forex Flex EA Conclusion

Forex Flex EA is a versatile and customizable automated trading system with a solid track record of generating profits on live accounts.

The innovative “virtual trade” technology, mix of trading strategies, and robust features give it an edge over many other forex robots. While aggressive settings carry higher risk, conservative settings can accommodate all trading styles.

For traders looking for an automated solution to take the emotion out of trading, EA is definitely worth considering. The active community support, lifetime updates, and money-back guarantee also make it a lower risk investment.

Overall, EA is one of the top forex robots and is recommended for beginners and experienced traders alike.

Author: Dominic Walsh
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I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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