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FXEurGrid Review: is fxeurgrid.com Scam?

FXEurGrid Review: is fxeurgrid.com Scam?

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FXEurGrid is the name of a robot that has been designed to trade the EURUSD exclusively. The name is a bit weird but one of the things we should be concerned with is whether or not this robot can work. From the name of this expert advisor, we can deduce that it is a grid trader. That makes us ask whether we can trust it because grid expert advisors have been known to lose money. We wonder whether the FXEurGrid will be a little different.

According to the developer, the FXEurGrid expert advisor is profitable since they have focused only on one pair and thus eliminated the risk that come with trading multiple pairs. In our opinion, this is not necessarily so because whether we trade one or many pairs, we could still lose all our capital if we don’t manage risk properly. So this issue of trading one pair and claiming that it is the best way to combat risk is total nonsense. So we will look at the other aspects of this robot and see whether we can give this developer a second chance.

The website contains no information about the developers, their trading experience, or where they are located. In our additional research, it’s clear that the system is developed by the same people that developed ForexBot28. Both websites look exactly the same, and are hosted on the same Web server. Both robots also have some sort of relationship with the Forex Store, and its possible that they are the true owner of the software. This is unproven, and simple speculation. To get in touch with support, traders can fill out a contact form on the website, as no direct email address is provided. Also, if you would like to trade with reliable expert advisors, we recommend these trading products and services. We generally don’t encourage expert advisors that use grid trading approach. Having said this, we will be going forward to give a complete review of what this expert advisor is and what it can do/not do for your trading account.

FXEurGrid Review

One thing we have noticed is that the FXEurGrid website comes across as incomplete, as there are only a few sentences describing the system. This is always a point of contention for us as we feel that all investment opportunities should provide a full in-depth description of their services. In terms of the trading strategy, we see that this robot is utilizing a grid trading strategy. As previously mentioned, grid trading is one of the most risky trading approaches in the automated trading marketplace. There is a large amount of traders that avoid anything that has to do with the grid or martingale trading, because they are 2 strategies most known for blowing accounts.

This case however, the vendor claims that the system utilizes a draw down limitation technology so that the system doesn’t risk your entire account when it starts trading. This technology is not explained in much detail, and neither is the rest of the trading strategy.

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The only other aspect of the system that is covered, is that it provides 3 different trading modes, safe, normal and aggressive. Each of these trading modes as a minimum deposit requirement, so at least you know how much money is required to utilize the EA properly.

A breakdown of the FXEurGrid EA and features

This is a Forex robot whose price tag is $220. It trades all time frames and focuses only on one Forex pair. Of course it makes use of grid trading approach. As it stands, the FXEurGrid robot is being sold for $220. For this price, traders get one lifetime license, the user manual, free updates and 24/7 friendly support. This package also comes with a 30 day money back guarantee, so traders can test the system and refund it if the first 30 days doesn’t live up to their standards.

Having said this, we need to examine the strategy to see whether it is different from the many failed trading systems that use this type of trading approach.

But first, we are eager to see if the robot developer has presented us with third party verified trading results from a platform like myfxbook.com. The reasons are obviously clear. We want to see if this developer is able to prove us wrong with regards to the effectiveness of their trading robot.

Trading performance

The developer is providing us with trading results for the FXEurGrid expert advisor. These figures date back from September 2018. We did notice that the trading account that was being used in this case was a cent account meaning that the developer in question is not taking risk with his product at all. A cent Forex account does not generate income that one can live from. Furthermore, a cent Forex account is often used as a demo and not a serious live account. This can be concerning, but we won’t stress it too much because we are simply happy that they are providing verified results at all.

The trading account is showing 88% gain, and an 18% draw down. The average trade duration this 4 days, and the system has placed 226 trades since it was launched.

These results are impressive, but we do have to wonder why the vendor isn’t willing to put more money into this account. They are essentially charging us more money for the robot, then they are willing to invest in their strategy. While this is not a major concern, it can be worth taking note when analyzing Forex robots to be included in the list of the best trading expert advisors to watch for this year.

Our best advice for you

FXEurGrid website does not provide us with enough info regarding how their robot works. We needed this information to make a good judgement. We would also like to see very strong customer feedback before making a decision to buy a license. As it currently stands, traders are only safe if they invest in premium Forex trading resources found on this page. This would work well.

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