Forex Fury Review: The Ultimate Forex Trading Robot?
Forex Fury is an automated trading robot designed to trade the foreign exchange (forex) market automatically. With over 7 years in the market and thousands of users worldwide, it has developed a reputation as one of the top forex robots available today.
This comprehensive review will provide an in-depth analysis of Forex Fury to help you determine if it’s the right trading robot for your needs. We’ll examine key features, performance statistics, pricing, and more to give you the full picture.
Overview of Forex Fury
Forex Fury is a fully automated expert advisor (EA) that trades multiple currency pairs on the Metatrader 4 and 5 platforms. It was first launched in 2015 and has been continuously updated since then.
Some key features of Forex Fury include:
- Compatible with all brokers – Works with any MT4/MT5 broker whether ECN, NDD, STP or market maker.
- Multiple trading strategies – Comes preloaded with over 600 strategies ranging from low to high risk. Strategies can also be fully customized.
- Effective money management – Uses algorithms to maximize profits while minimizing risk and drawdowns.
- Time-based trading – Opens and closes trades at specific times, usually for 1-2 hours per day. This prevents overtrading.
- Regular updates – The development team releases new versions regularly with improved strategies and features.
One of the most important considerations when evaluating a forex robot is its past performance. According to the Forex Fury website, the robot has achieved:
- 93% winning percentage on live trading accounts
- 10-20% monthly ROI on average
- 0-7 trades per day depending on market conditions
The developers provide access to MyFXBook verified accounts showing these results across multiple brokers, pairs, and timeframes.
While past performance is no guarantee of future results, these statistics indicate that Forex Fury has the potential to generate consistent profits if used correctly. However, it’s worth noting that the live accounts show periodic drawdowns exceeding 30%, so proper risk management is essential.
Using Forex Fury
Forex Fury aims to make automated trading accessible for beginner and experienced traders alike.
Installation is straightforward – simply download the files, attach the EA to a chart, and set your parameters. The entire process takes about 5 minutes.
Strategies can be used out of the box or fully customized. The robot comes preloaded with over 600 strategy files created by the Forex Fury team over the years. Traders can experiment with different sets until they find one matching their risk tolerance and preferences.
Money management is handled automatically according to the strategy, but parameters like lot size and stop loss can also be manually configured. This gives traders better control over their risk exposure.
Support is provided via email and a members discussion forum. The developers also post frequent tutorial videos explaining how to use the robot effectively.
Overall, Forex Fury aims to make automated trading as easy as possible even for novice traders. The simplicity of the system combined with the profitable track record contributes to its popularity.
Costs and Pricing
Forex Fury is available in two pricing options:
- Gold – $229.99 one-time fee
- Diamond – $439.99 one-time fee
The Diamond package provides faster support response times and free updates for life.
Other costs to consider are brokerage commissions and spread/swap fees charged by your broker. Forex Fury can work with any MT4 or MT5 broker.
There are no additional or hidden fees beyond the one-time purchase cost. This simple transparent pricing is an advantage compared to EAs charging monthly subscriptions or commissions.
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Pros and Cons
Based on our analysis, here are the main advantages and drawbacks of using Forex Fury:
- Proven long-term track record of profitability
- Hundreds of optimized trading strategies included
- Suitable for all account sizes and brokers
- Easy to install and use even for beginners
- Provides effective automated money management
- Regularly updated by the development team
- Periodic significant drawdowns are possible
- Requires monitoring and occasional adjustments
- No free trial available
- Refunds are not offered if the robot is not profitable
As with any EA, proper usage and risk management are essential to long-term success. But the performance statistics indicate that Forex Fury has the potential to be profitable if utilized correctly.
In summary, Forex Fury is one of the top forex robots currently available today. The combination of a long track record, hundreds of built-in strategies, simplicity of use and regular updates by the development team contribute to its popularity.
For traders looking to automate their trading and generate consistent profits, Forex Fury is certainly worth considering. As with any EA, performing proper backtesting and running it on a demo account initially is advised. Risk management is also critical when running any automated system.
While there are no guarantees, the verified statistics indicate that Forex Fury has the potential to perform well if utilized properly. For traders who take the time to learn the system and find optimal settings for their needs, Forex Fury can be a valuable addition to a portfolio.
Overall, Forex Fury ranks as one of the top forex robots available today and is worth exploring for any trader interested in algorithmic trading.